The Digital platform has had more businesses channel their energy to their online prospective customers using their information or a showcase of services and goods, thereby giving a warm reception to online business savvy and new-age entrepreneurs to leverage on the online platform and close business deals, however, with tons of similar services or products flooding the internet, chances of your selection even when you offer premium or some magical SEO [Search Engine Optimization] tools which do better like some fine wine, could still be slim.
May I delight you with something off, something quite unusual from what you probably come by easily?
Before we get into that, have you ever considered who you sell to online? Please don't be quick to say people, because that's not my answer. How about a rethink on who you are selling to, more specifically, which part of the buyer you are targeting?
If your answer is still the prospective customer, it means you haven't figured out where the shots are going. Well, let's save our time, shall we? My answer is the buyers' brains, the buyer's subconscious, their minds.
Let us have a quick review: oh, by the way, thumbs up to The Watchtower - Web Design Agency Dubai for giving me this platform.
You would agree with me that all your effort, the design of your website, the pricing and sales tactics, the dealings with the customer, the amazing images of your products ... All these are aimed at convincing consumers while creating a relationship of trust so that they decide to patronize you.
All this is focused on influencing certain patterns and needs of our brain because after all, we are higher animals and therefore possess some instincts. Our uniqueness is due to the part of our brain called the Pre-frontal Cortex which is responsible for reasoning.
In this article, we would consider some biases that could help influence your sale projection.
Social proof by trend has been considered important in e-commerce, and it is especially important when we want to build trust with our customers.
But these opinions are useful not only for informing potential customers about how good we are and the quality of our products but also for capitalizing on the Bandwagon Effect. There is a cognitive bias based on the human tendency to think or do what most people do. such that if one believes something, it is more likely that others would follow the same path and this simply reflects why feedbacks on platforms have a way of influencing prospective customer’s view.
This cognitive bias is without a doubt the most common online shopping trick. For many years, both online and offline sales have been used in marketing in the business world.
The key to this is 'dropping the anchor' on a specific numerical value. For example, we could say that the true cost of a bicycle is 300 AED; we've already established that point. However, we currently have a special offer in place, and the bike costs 150AED.
After our client has been anchored at the 300AED price, the 150AED offer is more likely to appear more appealing. It's better than if we just presented it without mentioning the previous price.
This bias could be used in the world of electronic commerce. one could use it, especially if one offers services with different characteristics, eg: a regular one and a premium, while you could use the lure technique so that customers opt for the most expensive one. Note that this applies to physical products as well, such that when one sells the same product but with different degrees of quality which implies different prices and you intend customers to opt for the most expensive, one could use a lure to ensure the option that interests you most seem most appealing.
I bet you could easily identify with this illustration:
Have you ever noticed that it costs less to spend money when we have small coins in our pockets rather than large bills? Assume you're walking through a market and see something that catches your eye for 1AED; you're more likely to buy it if you have 1AED on hand than if you have to change a 50AED ticket.
In many ways, this cognitive bias can be applied to the world of online commerce. The trick is to convert the equivalence of that money into a familiar measure, such as 'for less than 1AED per day or 'for less than a coffee per day.' Which evokes the image of the coins in the minds of our clients, making the purchase appear much cheaper and thus more likely.
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