Marketing
Know how customers purchase
People make messy decisions, when purchasing online. The triggers and the final purchase decisions are not directly related. The purchase decisions are getting messier. For example people search for ‘best’ more than ‘cheap’.
As per Google report 6 key things affect the online purchase.
Category heuristics: Short descriptions of key product specifications can simplify purchase decisions.
Power of now: The longer you have to wait for a product, the weaker the proposition becomes.
Social proof: Recommendations and reviews from others can be very persuasive.
Scarcity bias: As stock or availability of a product decreases, the more desirable it becomes.
Authority bias: Being swayed by an expert or trusted source.
Power of free: A free gift with a purchase, even if unrelated, can be a powerful motivator.
The report stated: The results showed that even the least effective challenger, a fictional cereal brand, still managed to win 28% of shopper preference from the established favorite when it was “supercharged” with benefits, including five-star reviews and an offer of 20% extra for free. And in the most extreme case, a fictional car insurer won 87% share of consumer preference when supercharged with advantages across all six biases.
Google’s ‘Think With Google’ gives an audience tool, to know the profile of the target audience. It will help businesses build the right brand presence online. It will also help to understand the biases, triggers and purchases.
Download: The full report Link