How every consumer makes purchase decisions (why people buy)
Creators on our platform have various goals for their digital business. Some want to make digital business a huge part of their life while others just want to earn some extra cash. There are also partner's who use the app as a way of providing additional value just to their one on one current clients. Simply, put the needs and ambition levels vary.
For those of you who want to build a sales and marketing IQ, this is where you start. Let’s take a look at one of the world's largest marketplaces--Amazon.
As humans, our brains make purchasing decisions almost automatically. They say the conscious brain processes 40 data points per second while the subconscious processes over 10mn. In an instant, our minds sort through all of the information that is available to us starts recommending a well-informed decision.
Look at the graphic above and think about what you would likely buy if you had to choose from these four products. You might immediately know your pick. Or you may take a few moments to weigh your options before coming to a final decision. Either way, there are a few things that are taking place in your mind as you decide which product you'd likely purchase.
- Visualizing - Will that outfit look good on me? Is that model in the picture my body type or desired body type? If that's the case then...
- Information - Does the product give me information about the benefits of purchasing it? Can I quickly understand the utility of the product and how it will benefit me?
- Novelty - Is this a new or trending item? I love new things! If it's an older item then I’m probably not going to be as excited.
- Price - Is that a good price point for me? Can I afford it? Is it priced as a premium product so I have to think more about the decision? Then, if the price works….
- Social proof (reviews and ratings) - Did other people purchase this product? Is it in high demand? Do people like it?
- Other buyers - Have other people bought this product. Is it popular? How many people bought it?
- Ratings - Did this product get high ratings? Will need at least 4 stars for me to purchase. 3 stars will put me on the fence.
- Testimonial/reviews - What did other people say about the product? I'll need the comfort in knowing that other people have had success with this product.
The points above are universal truths. No matter what someone is selling, buyers' will ask themselves these questions before they make a purchase. The best sellers will make it easy for a buyer to answer all of these questions at the point of sale.
Take a look at the social media account of a seller that you admire or perhaps one you've purchased from in the past. The best social media influencers and online sellers provide you with the answers to these questions directly in their social media accounts.
Now think about your marketing channels - Instagram and social media, emails, selling to clients and friends, etc.. If you want to grow a digital business, your answer to each of the questions below should be, yes!
Questions To Ask Yourself About Marketing On Instagram, Social Media and Email
- Do you have a sales and marketing strategy for your product? Or is your strategy just to have a product and drop the link in and some of your followers should buy it?
- Are you consistently sharing the benefits and information around your product(s) or do you just expect people to buy it without knowing the value it delivers to them?
- Does your marketing (Instagram, website, etc.) have social proof? Customer testimonials? Pictures of successful users? Before and after pictures? Ratings and reviews?
- Do you know who your customers are?
- Have you ever asked a customer if they like the product? Would recommend it to a friend? Helped them reach their goal?
If you apply these basic principles to your social media and product, you are ahead of 99% of the competition.