Experts have looked at how buyers make purchase decisions and come up with some fascinating discoveries.
Let’s take a quick look at some of the most interesting ones.
Consumers are emotional
While they may scoff at this characterization, consumers tend to use their emotions when making a purchase.
Those emotions can come in a wide range, from fear to pride to altruism, but no matter what forms they come in, they often overrule logic.
They will try to back up their emotional decision making with facts (hopefully facts that you’ve supplied), but it still all comes down to emotions.
Consumers respond to stories
Take two scenarios of businesses pushing similar products.
One is a faceless corporation simply pushing the item in a direct manner.
The other is a smaller business, but one that features a human face and a relatable story with the item.
Which scenario will better connect with the consumer?
If you guessed the second one, you’re right.
You need to establish that emotional connection with the customer. As mentioned above, customers make purchase decisions based on emotions.
In the psychology of buying, this is called The Epiphany Bridge, where a customer has an emotional reaction to what you’re telling them. It leads them to move forward, and after crossing that bridge, they’ll then use logic to justify their purchase.
So how do you craft a good Epiphany Bridge story? You follow The Hero’s two Journeys outline.
In The Hero’s 2 Journeys, stories are kept simple and help build a rapport with the hero (you). They establish the hero’s desire and the conflict they’ve overcome to reach it.
You can read more about The Epiphany Bridge and The Hero’s Two Journeys in Expert Secrets so you can put the ideas into practice.
Simply put, buyers respond more positively to stories.
Make sure you’re telling one that they’ll want to follow.
Consumers want to avoid loss
If there’s one thing consumers hate, it’s losing money.
Many would rather avoid losing it over actually gaining something.
This is sometimes called “loss aversion”. We have a strong emotional attachment to loss and want to do anything we can to avoid it.
A fear of loss also applies to missing out on opportunities. If we think something is scarce, we have a natural tendency to want to act right away.
If you implement scarcity as part of your sales funnel, you’re encouraging urgency on the part of the customer.
Limited time offers can be a part of this strategy. Or you could indicate a product will run out soon.
Buyers will want to jump on these chances to avoid missing out a great deal.
Consumers like to go with the flow
Many people like to think they’re unaffected by what everyone else thinks and does.
But the truth is, if everyone else is doing it, you’ll probably want to do it too.
Consumers are the same. They love to follow the crowd.
The more other people are doing something, the more they’ll want to go right along with them.
That’s why including customer reviews, leveraging testimonials, and promoting products on social media channels can be so effective.
It demonstrates that consumers aren’t just buying a product, they’re becoming part of a movement.