What makes us go from thinking about buying something, to actually making a purchase?
Just as each of us is different and unique, each of our buying behaviors is different. However, there are certain psychological triggers that can come into play to push us over the edge and have us ready to pull out our credit cards and make a purchase…
When was the last time you made an impulse purchase?
Chances are it was when you were checking out at the grocery store or gas station, and decided to grab that pack of gum or candy right at checkout. Those items that are displayed right when we are checking out are not there by accident. Millions of consumers checkout at physical locations, so the option for adding items to a purchase becomes a no brainer for many retailers.
Human buying behavior online works similar to the way it does in person and there are various psychological triggers that can be used to push consumers over the edge and get them buying.
Here are four of the top buying triggers:
Convenience Triggers – The easier it is for a customer to purchase something, the more likely they are to actually purchase it. There is a reason why Amazon dominates the eCommerce world. Well, there are a few reasons, however one of the primary ones is because of how easy it is to make a purchase on their website. Amazon stores credit card data and utilizes a one click buying option. That, coupled with their “You also might like” recommendations makes just about everyone feel comfortable visiting Amazon and making a purchase before leaving the website. Convenience and ease of use is a superb way to sell more products.
Scarcity Triggers – When there’s only a certain amount of time available on a sale and legitimate countdown timers are used, conversion rates increase. The conversion rates continue increasing as the timer nears zero. Countdowns that let the consumer know how many units are still available function in the same manner and accomplish the same thing as timer countdowns. Fear of missing out on a great deal is a huge trigger to convince a consumer to make the purchase. The use of countdowns is one of the main reasons daily deal and flash sale websites are so successful.
Social Triggers – The Jones’ yard is nicer than yours. Coveting what our neighbor has is a trait that has been around for thousands of years, but it is also a buying trigger. In today’s socially connected world, many of us take cues from what our network of friends are using and buying, and subconsciously those cues make us want to order products.
Price / Value Ratio – If the value being offered is greater than the price, we consider it to be a good deal. Price reduction and savings is one of the biggest psychological buying triggers that we can use.
What are some other things that cause you to take out your credit card and make a purchase?
The following is a guest post by Chris Powell. Chris is a team member of DailyDealBuilder.com, provider of daily deal software, solutions, and sales training.