Why do people buy? When will buyers make the purchase? What psychological factors of buyers affect your sales or lead conversion?
Today’s buyers have a lot of tools to evaluate the products and services offered by companies. They do not prefer a product to be sold directly to them, rather they look for a solution to their pain points. Buyer tends to purchase a product if they find the value of the product offered matching their wants.
The most fundamental aspect of running a business is to sell more. Without sales, even the most sophisticated companies tend to shut down. So, what is sales if not just numbers? It is an art and science that combines complex business concepts and psychological principles. Human psychology drives all major buying decisions.
What is sales psychology?
Psychology of selling involves understanding buyer’s psychology and getting insight into how a buyer thinks. You can thereby act accordingly and make way for various ideas, strategies, methods, and techniques to sell faster and in the easiest way possible.
Buyer psychology techniques you should know – Sometimes, closing a deal, even when your customers are interested in your products, becomes difficult. Here is the list of some psychological aspects of buyers that can help you close deals faster.
● Fewer options, more lead conversions
Providing with too many options can turn decision-making into a hard rule for your customers. Thus, rather than pitching them for every product offered by your company, try understanding their preferences and then only pitch solutions that match their needs.
● Building credibility
Building trust for your brand in your customers by making them aware of your years of experience, the expertise behind your products, the vision of your developers and engineers, awards won by your product or service, etc. can also help you to build trust for your brand in your customers.
● Social media presence
Popularity on various social media handles signals the value of your company. If your buyers know about the number of customers who already follow your products and services, they will perceive it as more valuable.
● Power of storytelling
Sharing relatable customer stories leaves a powerful impact on new customers. Many brands like Maggie, Dove, etc. have been using storytelling as one of the major plots in their advertisements to motivate their target customers to take the desired action favorable for the organization.
● Your buyer’s FOMO
Spark the desire among your potential customers by making them understand the risk of running out of your product due to high demand. Using the threat of scarcity of your advantageous offer can make more lead conversions.
● Quick response
Researches have proved that if companies call back within 3 minutes of inquiry, overall conversion rates improve by more than 391%. Quick responses help create a solid first impression of your brand and depict that you care for your business and the customers.
● Value your customer’s feedback
What’s holding you back from making a purchase? What else can we include in our product or service for a more enriching experience for our customers? Asking such questions can help you understand the sales objections and lagging points in your sales pitch.
Every buyer has some basic human needs that motivate them to buy a product or service. Invoking the desire to buy and reducing their fear of loss can ultimately benefit you, as this will assure them and satisfy them to make the purchase successful. At the end of the day, if you can design a creative selling tactic by finding out what your prospects want, you will be able to close the deal.
We at Cross Digital do a deep dive analysis into the psychology of your target audience and employ the best strategies that are bound to help you skyrocket your sales.