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What’s behind consumer’s buying decisions?

 

How perceived costs impact customer buying.
How perceived costs impact customer buying.

 

Understanding How Consumers' Brains Think

Interestingly, the part of the brain most responsible for making buying decisions isn't the part that thinks logically. We make the majority of our decisions using what is commonly referred to as the "reptilian brain." This part of the brain is programmed for survival. It's perpetually evaluating choices based on the least possible harm to itself. Even when it's deciding whether or not to buy a product from you, it's performing a cost/benefit analysis.

When you understand this fact about your customers buying decisions, you can then use it to guide your marketing efforts in promoting your business to your audience.

How perceived 'costs' impact customer buying patterns

Let's say you've just built a landing page where people can sign up to download a free e-book. Even though you're not asking for money in exchange for your e-book, you want to keep the 'cost' as low as possible. If you ask for too much unnecessary information, your customers will regard this as a cost. Even if you mark most of the fields optional, a shocking number of people will just click off the page and ignore the offer.

To minimize this perceived cost, minimize the amount of information you ask in return for your offer. Remember that you can always learn more about potential leads in later interactions, so only ask for the bare minimum of information at this initial stage.

This same sort of thinking should also impact how you structure sales. Use each interaction to demonstrate that doing business with you will provide maximum reward for minimum cost.

Maximizing benefits

In addition to its desire to minimize costs, the reptilian brain also wants to maximize benefits. It responds best to images, emotion, and concrete examples of benefits.

When you set out to describe the benefits of working with your company, make sure your claims are completely clear. Articulate exactly how working with your company can benefit your customers and why your company is superior to the competition. This means providing evidence and proof you offer immediate satisfaction for your customers.

Despite the desire of most people to be logical shoppers, they actually make their choices largely based on cost/benefit analysis. Use this tendency in your marketing and witness firsthand the power of this part of the brain.

Filed Under: marketing, business communications, Consumer Buying Decisions, Marketing Efforts, strategy, Uncategorized
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