Thursday, February 5, 2015

The Science Behind Making a Sale

Wonder whether that extra special gift made an impression? Will applying stock scarcity tactics really help move that rather large pallet of designer handbags taking up space in your warehouse? A recent infographic prepared by Everreach explores the “science” of making a sale. It touches on factors that researchers have found lead people through the decision making process. Be sure to look at the following three factors that are especially relevant to online merchants:

Reciprocity- The theory of reciprocity in sales works when you are the first to give something in the exchange. This means giving customers an extra something special before they make a purchase- perhaps a sample of an item or free advice. This will leave them with a sense of obligation to even out the relationship.

Authority- Customers look to industry experts to guide them in making the right decisions. When you establish yourself with your customer as an industry expert by informing them of your qualifications, you make it easier to persuade them to make a purchase. A good way to establish authority online is publishing a blog.

Consistency- The principle of consistency has us asking customers to make a small commitment. Something that is easy for the customer to do. Once they make that first decision, it is easier to get them to buy in to that larger purchase. An example here is to ask a customer to subscribe to automatic purchases after an initial purchase of a highly consumable product.

The above factors of persuasion are practical techniques we feel any online merchant can use to improve their numbers. To learn more, check out “How to Influence and Persuade- the science bit”.

Barbara Anderson
Marketing Coordinator