Easy and instant access to product information has shifted the focus to the buyers’ market, pushing the need to understand what the buyer is thinking. It is the buyer who tells each other about the product and reviews it much before companies approach them or advertise them. This makes it important for sellers to put their foot forward and understand the buyer’s journey before promoting a product.
Buying decisions are more often complex than they appear. The reality with buyers is that they don’t think like robots while taking decisions of buying a product. The emergence of social media has made it more difficult for sellers as information gets viral in only few seconds. With buyers becoming more prone to misreading information puts the spotlight on seller to keep their communication simple and pretty clear.
Factors Influencing Buyers’ Purchase Decisions:
- Emotion underpins logic: Most human decisions are made on feel good factor and constitute the foundation for all the buying decisions. Sellers have to use different communication methods that appeal to the human and not the buyer.
- Being part of consumer’s identity: While making any purchase decision, the buyer thinks about the advantage he/she will derive from buying the product. This requires the seller to constantly connect with their consumer and get a thorough understanding of the buyers’ requirement. The future belongs to those sellers that can become part of their consumer’s identity.
- Build trust and credibility: Buyers often think sellers have self-serving agendas not coinciding with their This has pushed the need for sellers to be more open and informative about their product. Sellers are using multiple mediums to overcome buyers’ suspicion and build long time credibility.
- Showcasing product benefit: It is very important to demonstrate product’s benefit to the potential buyer on how it has benefited other buyers too. Buyers relate to visuals and stories very strongly. Stories related to past successes will help connect strongly with them. It allows imaging themselves in the shoes of previous buyers experiencing similar benefits.
- Know your buyer: It is imperative to know the potential buyer as it helps to create the right blend of product communication and advertisement strategies. It further helps to optimize the sales process and makes buying decisions easy, as all the sales activities will revolve according to the buyers’ liking.
- Providing the right information: It is important to provide the required information to the buyer before the sale. Although, there might not be an immediate sale, but this will definitely set the foundation for a long-term relationship with the buyer, creating a strong platform for future sales.
Whether talking to the buyer face-to-face or via some other channel, it is very important to use the right combination of communication with the buyer. The customer has to trust the product and the seller before making the purchase. While sometimes outdated marketing methods may work in the short-term, understanding the buyers and providing them what they require is the only way to achieve long-term success.
– Pavan Mudholkar,