Although many of us may not realise it, every business uses tricks to entice us to buy more, faster. These tricks are usually subtle, and make the difference between a sale and a lost prospect.
If you want to significantly increase your online sales, you should implement the following tricks.
1. Understand the Buyers
Know what works for buyers. It’s not easy, even for seasoned pros.
There are three types of buyers in the market: The tightwad buyers who make up about 24% of all buyers, the average buyers who make up about 61% of the market, and lastly, the spendthrifts, who make up about 15% of all buyers.
When marketing your product to tightwads, focus on bundle deals and re-formatting product value in terms of monthly versus yearly fees. Removing small fees can make or break the deal.
Changing the way you market will make a significant difference. People respond better when you tell them what they stand to lose as opposed to what they will gain.
However, this does not mean to only focus on loss, it’s important to bring up what they can gain as well to show what your prospects don’t and won’t have in comparison to what they could have.
Give your customers less options. This way, the consumers feel like they’re in control, and that they’re making the important decision.
To make it quicker and easier for a prospect to purchase, group products and services into categories.
People will always pay for convenience and results, even if it means sacrificing an alternative free option.
This is why it’s important to make your product as simple, quick, and user-friendly as possible.
This will make the difference of whether someone pays for your product, or chooses a different free option instead.
2. Use Urgency – The Right Way
When using urgency as a selling tactic, it’s crucial to always have follow-up info to provide grounds and credibility for the urgency that you’re instating. Keep your customers on their toes.
Smart businesses use reciprocity to their advantage. Customers love surprises, which promotes ‘surprise reciprocity’.
Surprises are small “wows” that your customers don’t expect aimed at fostering excitement for your company and product.
If you want to use urgency, add value to what your customers are paying for is necessary.
It’s always best to back up all claims with evidence, such as testimonials, survey results, authoritative endorsements, test results, and scientific data.
3. Make it Mainstream
People tend to follow the crowd. They care about the popularity and reputation of a product or service. This is why word of mouth marketing is so effective and significantly drives sales.
It also helps nurturing and sustaining relationships with your loyal customers.
When your customers are happy and satisfied with your product, they’re more than likely to bring it up in a conversation, and freely promote your product.
4. Set Minimums
Too many choices create “analysis paralysis”. You can start breaking through action paralysis by setting minimums such as “no payments for the first month”.
Then, help your customers choose by showing that your product can solve their pain points quickly.
Produce instant gratification. Don’t offer more, offer less.
Usually, 3 options is the best amount to offer – offering variety, but still letting the customers be in control so they don’t go into analysis paralysis and leave you with no sale.
5. Promote Labels
Although this may seem like bad advice at first, labelling your customers as part of a desirable group will encourage their ego and their actions will reflect those characteristics.
Make an enemy, and show the customer how you are the hero. A great example of this form of marketing is Mac vs. PC commercials, which encourage the consumer to choose the superior group and inherently promote it.
It’s okay to play the devil’s advocate. Increase the confidence of already interested customers who are likely to buy your product anyway.
Address their concerns and dismiss them with solid evidence. Remember, honesty is the most important marketing tool. Don’t make things up or exaggerate.
6. Sustain Relationships
People make decisions emotionally. This is why it’s important to stand for something and share values with your customers.
Out of all the customers who have a strong relationship with a brand, 64% said it’s because of shared values.
Don’t focus on changing the minds of those who don’t like your product, nurture the customers who love you because they’ll bring you more business.
7. Create Mystery
Consumer behaviour shows that people are naturally suspicious and egocentric. They care about what is in it for them.
Instead of selling to people, try to help them. Sell good products, make appealing offers, and treat people fairly.
8. Offer an Easy Way Out
Give prospects an easy out.
This eliminates the pressure on the buyer, and prevents buyer’s remorse. Don’t try to push your prospect into purchasing something they’re unsure of.
Doing this might end up hurting you in the long run when an unhappy customer starts to complain or leave negative reviews.
9. Disqualify your Prospect
Present clients with affordable options, but dangle the deluxe versions over their head. This can trigger a willingness to spend more money.
But don’t try to manipulate and push your clients to make a decision they’re not sure about.
The goal is to get them to spend a little bit more on what they’ll love, and ultimately what will make them the most happy. Pricing psychology plays an important part in the buying decisions your customers will end up making.
10. Admit Where you Could Improve
Highlight your strengths by admitting shortcomings.
“Strategic failings” show that your company is actively working on solving problems, and not just glazing over them or pretending that they don’t exist.
Implementing these tricks will boost your sales and grant you a great reputation and an army of loyal customers who will promote your products because of the great relationships you built with them.