What makes consumers decide to buy – Psychology of consumers

What makes consumers decide to buy – Psychology of consumers


– (laughter) When I have
money, I just spend it. – And it has to look nice, and
it has to catch my attention. – I only buy it if I
really, really like it. – ‘Cause if it doesn’t catch my attention, I don’t want to buy it. – What makes consumers decide to buy? Optimize those conversions. (trumpet plays) Psychology, the science
of how people think. – Who am I buying this from
and do I trust these people? Here’s the reviews. – Like, for quality. – Do I actually need this
thing, am I just wanting it? Think of all that stuff. – Quality is really
important and then price. I think they match. – Overall screening process takes place. (uplifting orchestral music) During that screening process, you want to reach out to these people with pertinent information. It’s there early on in
that screening process where they’re deciding if they trust you, trust your company. – Something that’s trusted. A certain brand is trusted
and a certain brand isn’t. – So how do you then address that? Delivering content, an email, a text message, anything like that, to start building trust with those people whether it’s from the sales
person or the company, website. – It’s really about how
you make people feel. (piano music) You want them to feel good
about buying something. Humans are emotional. – The feeling, so when I buy
something and then I’m happy, so that’s why I decide. (piano music) – To trigger those emotions,
you have to tell a story. Talk about how your company was founded. Talk about the mission
behind your company. Really tell that story
so people understand what they’re buying and the
story behind what they’re buying so they can feel good about it. – Eco-friendly products, I go for it. – You feel good about buying something that’s hyper targeted to you. You’re a business traveler,
package it in a way, put it in a suitcase and travel with it, tailored for them. So bottom line is tell your story. (piano music) – According to the
Harvard Business Review, they’ve actually done some studies. When trust is high, conversions
are gonna be a lot higher. – I want something that’s gonna help me. (uplifting orchestral music) – A huge part of the buying,
decision making process is building trust. Yes it’s about telling the story but it’s also about communicating, it’s about that two way conversation. If someone tweets your company account, have a real person there to talk to them. They want to connect with a human. – Resources can be a limitation here, so the idea is to do your best. – You never know when someone
could become a customer. Maybe they’re even just curious, just asking a general question. – Be available on all those channels. You have someone on phones,
emails, social channels. Don’t spread yourself too thin to where each of the
channels aren’t getting the appropriate attention. As available as you can;
that’s what’s gonna allow people to recommend your
business to other people. When you do take advantage
of bot technology, make sure that it is as
conversational as possible. You want those to be a
replication of a human. There’s limitations to that. We’re not talking about the type of bots that automatically generate and
leave comments on Instagram, we’re talking about the type of bot that actually act as an
ambassador to your company so when someone visits your website, you should have a chat application. A human manning that chat
application is ideal. When that’s not an
option, having a chat bot, people can come and ask
questions, get answers and then be directed to
the appropriate resources. Montage. (uplifting orchestral music) – Let’s face it, people
buy stuff based on trends. What’s cool, what’s kitschy, what’s rad, what’s in the feed right now, what their friends are talking about. We’re all influenced by people, we’re all influenced by brands,
some of us more than others. People are telling us
what they want to buy, we just have to listen to it. We can do our research to
figure out what people want and what they’re influenced by, and what are the trends
that are driving them. Sometimes people make fun of trends or they say that people
just blindly follow brands or people, but it’s a reality. We’re all influenced by trends. As a matter of fact, I’m
going shopping right now. (uplifting orchestral music) – No one likes the feeling
of buyer’s remorse. Businesses, consumers, it’s a lose lose. Actionable tips to avoid buyer’s remorse; following up with people
after having made a purchase, thanking them for making the purchase. Not just trying to upsell people, like oh, you’ve bought something? Now try to buy something else. Giving whatever reward you can to someone for making a purchase, whether that’s something like
free shipping or a coupon. It’s not just how they
feel during the sale, it’s how they feel after the
sale is also equally important. (uplifting orchestral music) Common factors seem to
be trust and feeling. Do they trust the brand, how does the brand build
the trust with them, and how does it make them feel before and after the decision
they made to purchase? – Thanks so much for watching this video, and if you’re not already, considering subscribing to our channel. Bye! (uplifting orchestral music)

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