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Psychological Tricks

Psychological Tricks to Improve Your Conversion Rate

 

Human psychology plays the most important role in business and marketing. And in order to increase your conversion rate, you need to understand consumer behaviour and psychology. Here are some psychological tricks which you can use for the betterment of your conversion rate:

  • Establish trust – Trust is one of the most important aspects when it comes to increasing sales and conversion rates. If people don’t trust you, they won’t indulge in business with you.

Typically, customers trust and act on recommendations and reviews from people they know, as these recommendations give a feeling of ease and reliability about deciding a purchase decision. This mindset extends to endorsements from random people who comment and review the products or services because as long as they don’t know the people who are recommending or suggesting against that product, it is more likely that you consider it unbiased and hence more trustworthy. So, it is highly recommended to showcase the customer reviews you have on your website and post about them on social media. Each positive review you get helps further instil the trustworthiness of your company and maintain your company branding.

  • Cross-selling tactics – Once your customer has committed to a purchase, you still have a chance to convince them to purchase even more before they close the page. This can be done by including a section underneath the main product that the customer is looking at, mentioning the products which are related to or similar to those he/she has just bought or searched for. Try to make the recommendations more personalised. You can also suggest related products based on their shopping behaviours.

  • Anchor pricing – Price has always been an important factor in influencing consumer purchase behaviour, and one of the best ways to do this for eCommerce stores is anchor pricing. If users see a discount or a special offer, it immediately catches their interest and reduces barriers to purchase. Sometimes, it encourages them to spend more money than they normally would. An anchor price primarily looks like the “original” price of the product, with the sales price listed just next to it. This gives customers a stable price point that they are able to use to persuade their decision-making.

  • Create a sense of belongingness – One-way company branding can create a sense of unity among the customers quite easily is through loyalty clubs. Sharing exclusive offers and content each week to this set of your customer base will help create a sense of belonging. For example, the sales or discount offers for your community people or your age group or gender. This not only makes the customers feel inclusive, but it also attracts them from time to time, and sometimes it is difficult for them to resist the offer.

  • Display scarcity of stock levels – If you mention scarcity or limited availability of the products already in demand, it will definitely help exceed the sales. For example, “5 pieces left” or a time limit of a certain offer on a product assures more sales than regular days. And even if that product goes out of stock, you can give them an option to “preorder”, so that the customers who want to buy it can be notified whenever it gets restocked. Such facilities will definitely impress the customers.

  • Free gifts or additional services – The word “free” has always been a source of attraction for the customers. Do you remember, as a child, we used to buy a whole packet of chips to get the “free” sticker that came along with it? This standard of “free” is still maintained in the market. Rather than giving discount offers on a product, you may give a small goodie along with it for free or free the shipping charges. It will also help maintain your customers for the long term.

Developing and maintaining an e-commerce website is not a simple job if you are inexperienced in web development. Thus, hiring a website design company like GenieoWeb could be the best idea for your new shopping website. They are the real web experts who know the appropriate tricks to enhance your business and conversion rate.

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