10 Ways to Convert More Customers Using Psychology
The aim of every business venture is to make profit, this is achieved by converting prospects into paying customers. Understanding what a buyer wants is the secret to increased sales. Here are 10 tested and proven methods that can be employed in persuading more customers to patronize your products and services.
1. Assist Customers In Breaking “ACTION PARALYSIS” By Setting Minimums.
Research conducted by Professor Robert Cialdini revealed the potency of adding a minimum to a request. This he demonstrated with the donations for the American cancer Society. Donations increased by 78%.
Let your customers know how easy it is to get started. For example, tell them that they do not have to make any payments in the first month.
2. Leverage On The Power Of Labels
A behavioral study conducted revealed that voters who were labelled as politically active were 15% more likely to vote. Despite the fact that they were randomly chosen, they acted in line with their labels. This applies to your business too. Label your customers as “Action Takers” and their actions will reflect that.
3. Understand The 3 Types Of Buyers
A thorough understanding of the types of buyers will help you relate to them when you meet them. Researchers have classified buyers into three categories.
1. The Tightwads comprising 24% of the entire populace.
2. The Spend Thrifts Comprising 15% of the entire populace.
3. The Average Spenders comprising 61% of the entire populace of buyers.
In order to sell to the tight wads, ensure you reduce the amount of small fees associated with your products, focus on selling your product as a bundle and reframe your product. For instance, you could add a price tag option of $100 per month or $1200 per year. Though the same thing, they are presented differently.
4. By Admitting your short Comings, You’ll Highlight Your Strength
Research has revealed that customers have more confidence in organisations that admitted their short comings as compared to those who blamed their failures on external factors even if it was true.
Admit your fault instead of apportioning blame to others. This presents you as an organisation who is actively exploring options to provide improved service quality.
5. Use Urgency The Smart Way
Two things that drive up sales are urgency and scarcity, but research has shown that humans tend to ignore urgent messages if they are not provided with detailed instructions on follow up. This hypothesis was proven by Leventhal. During a vaccination exercise, it was discovered that subjects who received follow up information were 25% more likely to get vaccinated.
6. Make Their Brain Light Up Instantly
Magnetic Resonance Imaging (MRI) research has shown that when we are anxious about something the Frontal cortex of the human brain is highly active at this point.
To appeal more to customers, highlight the instant benefits of your product. Focusing on instant gratification, early arrivals can be all that is needed to turn a potential customer to a committed customer.
7. Make An Enemy
This is technical but if properly used, it is of benefit in the long term. A research conducted by Social psychologist Henri Tajifel revealed that humans can be divided from the least of distinctions.
This has nothing to do with being harsh with people or competitors, but more about labeling your customers. This explains why some clothing companies concentrate on clothes for athlete and nothing more, and how some beverage companies concentrate on alcohol fee drinks.
8. Stand For Something
When you are known for something, customers will share your values with you. This has been proven be because over 64% of customers claimed to have identified with a brand because of what they shared together.
Tom’s Shoes has a community formed around it as a result of donations of shoe pairs made to those in need for every pair sold. This is a classic example.
9. The Devil’s Advocate
Business owners can leverage on this age long tradition. Research has shown that when ideas are challenged by a “devil’s advocate”, confidence levels is increased. You can take advantage of this by acting the devil’s advocate, increasing confidence levels of customers with higher prospects by concentrating on their areas of interest and leave them with a strong positive impression.
10. Keep Them On Their Toes
Customers like consistency as well as surprises. According to a study done by Norbert Schwarz, a psychologist, it was discovered that the countenance of participants changed when as little as $10 was discovered by surprise.
Apply this to your business and give that customer that WOW that will make their day. Remember it does not have to be an expensive surprise, what matters is the impression in the mind of your customers.
Remember, customer support ought to be a pleasurable and not inconveniencing.
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