Do you also believe that Sales is Only a Number Game? Well, it’s not! Hitting the sales number is of no use if you do not understand selling psychology. Once a new visitor comes to your online store, the likelihood of getting them converted into a customer is small, if your selling strategy is not smart enough.
That is why every retailer employs some psychological tricks to influence potential customers & uplift the business growth. In short, you need to trigger your visitors to say YES to the products you are selling on your store.
Through this article, explore 7 psychological triggers you need to build into your store to boost conversion & watch the sales roll in.
1. Pricing Strategy – Make Use of Anchor Prices
Prices Anchoring: A way to optimize the pricing strategy on your eCommerce store!
Let’s understand the Concept of Anchor Price:-
It’s a matter of fact that customers mainly rely on the first set of information provided to them just before making the purchase. Considering this, you can set a discounted price for a product at $100 USD $̶2̶0̶0̶. Here the $200 is the price anchor for the $100 sales price.
The customer will see the discounted price & soon will be ready to make a purchase.
As people love comparing products, the anchor price helps them do that & enable them to value your product for purchase. That is how anchor price increases sales.
The effect of price anchoring is widely recognized by visitors while browsing products online.
The concept of “Compare at Price” works for the merchants to display sales prices on the products they are selling. This will entice visitors to try your brand.
2. Influencer Marketing
The concept of Influencer marketing is trending these days. It is mainly a type of social media marketing where some famous social media influencers are approached to endorse your brand & products over social media!
As these influencers do have some decent number of fans following them, the brand recognition is quite high.
Other than Instagram, one of the most famous social media service, there are many other networks like YouTube, Snapchat, TikTok that have their own set of influencers.
However, it’s not just social media influencers. Even famous celebrities & sports-personas are approached to endorse famous brands worldwide.
Cristiano Ronaldo ranks 3rd on the highest-paid Instagram influencer list, earning $750,000 for each sponsored post and influence his 200 Million Instagram followers to try the brand.
3. Play Smart with Colors on Your Website
Neil Patel has well-justified the fact that shopping is the art of persuasion in one of his posts.
As per the recent case study, choosing a smart color scheme can increase conversion by about 24%. This proves that color psychology plays a vital role in influencing customer’s decisions while purchasing products online.
Your store conversion rate also depends on the fact of how you play with colors on your store as it will sometimes affect your brand value & also impact the new visitors to give it a try.
Thus, it’s another way to get the customer’s attention by picking up a smart color scheme for an online website.
A tea offering company like Chaayos uses a green color as its brand speaks about health, growth, and freshness.
That is how the color psychology impacts the conversion rates of your website & it’s the first impression a visitor will have.
One Suggestion:- Be specific with the colors that speak your brand identity!
4. Make “Out of Stock” Announcements
It’s always profitable to clearly mark that the item you were looking for is “Out of Stock”. Customers feel frustrating when they get to know about the 0 product stock lately on the checkout page. Thus, one simple announcement can make up their mind that currently, their favorite item is not in stock but will soon get notified once the products come back in stock.
Setting up pre orders for products will also let the customers know that the product is in the development phase & will be soon releasing…!!!
5. Upsell Products right before Checkout
Upselling products is a proven technique to uplift the average order value of an online store!
The concept of cross-selling, upselling & bundling products exceedingly helps the big eCommerce giants like Amazon to boost conversion.
Being an online retailer, you can also include this tactic using any of the eCommerce platforms like Shopify, Magento, PrestaShop, etc. Make sure to include the upsell products on the store page where you are achieving the highest conversion whether it’s the checkout page or the product page.
The upselling technique is quite convincing to let customers purchase a better & more expensive version of the products that are already added to their carts.
One Suggestion:- To Include the upsell on your store, make sure to hire a developer you trust the most as it’s very crucial to make it the right fit with the rest of your website designs!
6. Award with Free Gifts
Offering FREE gifts to customers is a valuable technique to gain customer’s loyalty! Thus, You can motivate customers to come back more often to purchase products from your online store.
Thus, surprise your customers with FREE gifts & boost conversion!
7. Include Social Link on the Product Page
Encouraging buyers to market your brand is a much-needed strategy to grow an online business. Social media links do this job for you!
Yes, adding social media links to your store influence buyers to explore more about the brand you are offering online and ultimately encourage them to share your products with family & friends. This will not only boost conversion but also increases your brand value.
All the Top Selling Brands include links to their social media accounts mainly on the footer of their website.