Make them cry and the money will follow
It is a proven fact that humans are emotional beings, thus it stands to reason that emotions play a huge factor when we make decisions to purchase products and/or services.To explore this concept would be to research and study consumer behaviour. The textbook definition of ‘consumer behaviour’ is the study of individuals and the activities that take place to satisfy their realised needs.Basically consumer behaviour is the process that determines the why, what, who, when and how of what a consumer purchases. There are entire text books dedicated to exploring this topic. I can’t compete with a textbook, but what I will seek to do in this article is to provide you with some basic information on consumer behaviour and how using “emotions” something we all have can help increase your business.There are five steps in the decision-making process for a consumer:1. Identification of need2. Search for solution to fulfill the need3. Evaluation of the alternatives4. Purchase5. Evaluation of purchaseFor the purpose of this article, let’s focus on Step 3: Evaluation of the alternatives.This step is where you as the business owner have to “make them cry”.Seriously, in today’s economy buyers are choosy with when and where they spend their money. Many are making their choices based on some basic emotional triggers.Following are eight emotional triggers as highlighted in an article by marketing consultant, Fiona McEchran:1. Trust: Customers are looking for some assurances when they make purchases. Use this to your advantage, a client-friendly refund policy could be the difference between a making a sale and not. Let your customers know that they can trust you. If you believe in your product or service, consider offering them a guarantee. There’s nothing like a money-back guarantee that can push a consumer from a “maybe” to a “yes”.2. Fear: Ever wonder why security companies use commercials with surly looking bad guys breaking into unsuspecting women’s homes. You guessed it. They want to scare you into purchasing their services. It works. Other less threatening forms of using fear include using phrases like, “Don’t miss out”, or “Last one left”. The Home Shopping Network (HSN) does an excellent job of using this.3. Guilt: The SPCA and other non-profit organisations are great at using this emotion. You probably have seen some of the SPCA commercials with the sad music and photos of malnourished and mistreated animals. How could you not donate to their cause? You were in your home relaxing and, now all of a sudden, after seeing the commercial you feel guilty because you did not donate $10 to save little Pablo, the white terrier, from certain death. Playing on guilt also works for the health industry. We all know we feel guilty eating something we are not supposed to, but you can feel so much better by taken whatever supplement that is being sold to neutralise that fat whew thank god for supplements. Cha-ching!4. Time: Time is something that we will run out of. It is a fact. Many people are obsessed with trying to figure out ways to save it. We are a microwave generation, where instant gratification is almost a necessity. If you can entice your consumers by showing them how they can save time or get things to them faster than the competition then you have a better chance at making the sale.5. Belonging: Who doesn’t want to feel a part of something? The need to belong is why we have so many groups and organisations. How long did it take before the world was wearing those yellow rubber bands around their wrists? Now you can get one in every colour and for every cause. Loyalty programmes are great examples of using the “belonging” emotion.6. Value: I love a good deal. If you say, buy two cans of cat food, get one free, I am on it. Never mind that I don’t have a cat. It’s the deal and I can’t pass up. The reality is that I am not alone. If you make your customer feel that they are getting the best value for their money then watch the register … cha-ching! This is why bulk-goods stores work so well.7. Competition: Competition among consumers is what I would like to refer to as “Keeping up with the Jones”. The Jones’ must be the richest family in the world because they always have all the latest greatest stuff and we do our best to keep up with them. Especially, when it comes to parents. I am certain, it is this very need to keep up with those Jones’ that caused my husband to by my seven-year-old son a $60 watch which he has now lost. If you can get your customer’s to compete with each other to buy your goods and services then … cha-ching!8. Trend/Popular: Last but not least is the need to be popular. We can thank the celebrities and paparazzi for this one. Does is make the lipstick or hair colour any better when a celebrity is endorsing it? In reality the answer is no, but our emotional response says yes. By having it, it means that we are somehow on par with or closer to the celebrity that is endorsing it. I am sure that Beyonce does not use L’Oreal hair colour, right? She gets her hair done professionally and L’Oreal is not a professional grade product. But, how many young women dismiss this logical connection and buy the product anyway because her hair looks flawless in the commercial.Using emotion to encourage your consumer to buy your product or service is the reality. When faced with so many choices you have to help the consumer make the right one. Whether you decide to guilt them into it or showing them the value in choosing you, the fact is that you have this priceless toll at your disposal that you can use to help drive your sales up.Regardless of your industry, study your consumer, find out which emotional trigger works for you so that you, too, can reap the rewards.Jamillah Lodge is a Business Development Officer for Bermuda Economic Development Corporation. The opinions expressed in this article are those of the writer and should serve a general guide and should not be considered as replacement advice from a lawyer, accountant or other professional service provider. Readers should consult with the appropriate professionals as necessary.If you have questions about starting a business in Bermuda, just ask BEDC: Email us at info[AT]bsbdc.bm or call 292-5570.