When it comes to making the final purchase decision, everything boils down to the buyer motives. Why did the consumer decide to purchase the product or service? Why did he choose this over another? There is no general answer for these questions. Every consumer will have a different motivator, let’s drill down to the top motivators.
Need fulfillment is a very strong motivator for a purchase decision. It is very important that you make your customers aware of your product or service and the problems it is created to address so that the customer can clearly analyze if the products meets their needs.
Fear of missing out is not just limited to social media. There are a lot of people who just purchase a product as they don’t want to miss out. If you make your product highly desirable, customers will purchase this due to this motive. This is more applicable in B2C business and in fashion industry.
- General fear
Fear of injury, safety or financial concerns gives customers a sense of urgency to purchase a particular product. The product is marketed in such a way that if the customer does not buy it, he is likely to face some consequences, for example, if a customer does not purchase an alarm system, he is making is house more vulnerable to burglary and other crimes. This is a very effective tactic to play into customers’ fears.
Associating some kind of excitement with your product is also a good motive for purchase. For ex. a BOGO(Buy One Get One Offer) or discounts on second purchase. These type of offers make the customer excited to purchase the product. This can also help in building long-term relationship with the customer.
- Well Being
Now a days a lot of people are concerned about their and their family’s health and well being, specially at times where the whole world in in a health crisis. This is a good opportunity a lot of companies are milking from. If a product can upgrade the well being of a customer, the customer is very likely to purchase the product.
A lot of people go by the rule of want and not of the need. Luxury is something which you want, not need. If you can afford it, you can get as much as you want. If you associate luxury with your product, you can easily motivate this class of people. Products like luxury cars, spas and saunas, resorts etc. run on this model.
How can a CRM database help
A good CRM software should provide this feature to collect all this information about each buyer which will allow your sales and marketing team to make better campaigns. The CRM should have sales and marketing automation capabilities so it is easier for your team work more in less time. CRM Runner is one such all in one CRM software which will help you keep all the information about your existing and potential customers by maintaining a detailed sales funnel with all stages from lead generation to conversion. You can create automated drip campaigns and measure the campaign effectiveness through detailed CRM reporting. Know more about us and sign up for a free trial!