4 Major Factors That Influence Consumers Buying Decisions

What does an “easy decision” look like? The convenient choice of purchase will be the one that comes from experience. But even then, experienced buyers have tells that sellers can exploit. Buyers don’t like the idea of being “influenced” (read: manipulated) into a purchase decision. And while ideal buyers are looking for loopholes for avoiding the “canopy of lies”, ethical marketers can save the day by empowering them to make better purchase decisions.

Empower your customers to make the right choice. But know what “right” means first yourself.

The Psychology behind Purchase Decisions and What You Need to Teach Your Prospects

So, how would you define an ‘easy decision’?

Research states, the unconscious part of our brain is responsible for 85% of our decisions. To put it simply, we are impulsive by nature and so are our decisions. But our impulses are not as frivolous as we know. Our unconscious mind takes references from the things it already knows, i.e. experience.

There are 4 factors that decide the comfort level of making a particular purchase:

  1. CLEAR DISPLAY: Makes the offering feel true
  2. SIMPLE IDEATING: Makes the offering relatable
  3. GOOD MOOD: Makes buying effortless
  4. REPEAT EXPERIENCE: Makes offering familiar

Because of these factors, decision-makers trust user reviewers, testimonials and transparent packaging before making a purchase. Conscious decisions, on the other hand, rely more on what’s inside the packaging.

Direct evidences like references from users they know or relate to helps the conscious mind to choose the best options to buy. Though the principles are the same four factors as that of the unconscious mind, but with the addition of two logical factors:

  1. RELEVANCE: Do I really need this?
  2. AFFORDABILITY: Can I buy this?

The Big Data Dimension of Influencing Purchase Decisions

The big game of purchase influences is played on the digital arena, through stringent buyer behavior analysis.

The Purchase Funnel:

Digital marketing has evolved over the years. The impact of buyer influences that used to end with the purchase has now extended.

The buyer journey currently doesn’t only cover the pre-purchase stages (A) but it combines both pre- and post-purchases (B).

The abundant buyer information coming through the enhanced digital marketing funnel is overwhelming, but necessary to understand the complete view of purchase trends. Automation and artificial intelligence is taking over understanding big data and analyzing it.

As the New Year proceeds, the trend is moving to the next level. In 2018…

  • Marketing activities will be more ingrained to the client’s purchase cycle.
  • Creating targeted buyer personas and mapping customer journeys will be the most effective way to leverage your marketing resources.
  • Following the trend of creating better user experiences, big data will enable personalization to be integrated throughout buyer journeys.

Want to really help your customers make the right purchase decisions? Engage and educate them through the below four levels:

  1. AWARENESS

Communicate with:

  • Analyst Reports
  • Research Reports
  • eBooks
  • Editorial
  • Expert Reviews
  • Whitepapers
  • Education Material

Reach through:

  • Television
  • Radio
  • Print
  • Events
  • Display
  • Search PPC
  • SEO
  1. CONSIDERATION

Communicate with:

  • Expert Guides
  • Live Interactions
  • Web- / Pod-cast
  • Videos
  • Comparative Analyses

Reach through:

  • Influencers
  • Social Media
  • Website
  • Campaign Landing Pages
  • Product pages
  • Remarketing
  • CRO
  • Merchandising
  1. CLOSE

Communicate with:

  • Vendor Comparisons
  • Product Comparisons
  • Case Studies
  • Trial Download
  • Product Literature
  • Live Demo

Reach through:

  • Personalized messages
  • Remarketing
  • Multichannel Selling
  • CRO
  • Open-sourced Content
  1. DELIGHT

Communicate with:

  • Event or Webinar Invitations
  • Notifications
  • Social Inbox
  • Value-add offerings
  • Thought Leadership content

Reach through:

  • Customer Onboarding
  • Personalized Loyalty Programs
  • Remarketing
  • Nurturing Programs

Marketing is evolving, but so are the buyers. They have left the scopes of traditional marketing and adopted the new virtual marketplace. Buying patterns have changed, and your buyers need a trusting friend more than ever. Help them, but know them first.

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