Did you know that eCommerce websites trigger various emotions to influence your buying decisions? eCommerce websites exploit human psychology in an effort to compel you to purchase more goods from their online stores. Don’t believe us? Well, next time you’re doing some online shopping, see if you notice any of these tricks or similar.
As an eCommerce marketer or eCommerce store owner, learning and implementing these tips will effectively improve your conversion rates and sales figures.
Creating A False Scarcity
If people believe they are going to miss out on an item due to limited stock, it makes them want to take action immediately. The diamond industry is a prime example of this. By allowing only a few diamonds on the market at any given time, diamond merchants are using the same tactic to imply the rarity of diamonds, letting their value soar. eCommerce companies are using the same strategy on visitors.
1. Only 1 Item Remaining
The reason you never see an eCommerce sites product page showing you how much stock they have is that it doesn’t cause a sense of urgency in buyers. Even though they might have plenty of stock in their warehouse, the amount of stock shown to customers on the product page will deliberately be kept low in order to force the buyer into making a purchase decision. Customers will be too worried about the item going out of stock and not being able to order it.
2. Limited Time Only Offers
Another tip eCommerce marketers use to get potential customers to take action is to introduce a deadline to their product sale. If you have a clock ticking down displaying how much time you have till the deal ends, often forces the buyer into making a purchase. The deal might not be available when the time runs out and this could be the best price they could get for a long time. No one likes to miss out on savings and they’d most likely end up making the purchase.
3. Displaying The Delivery Date
Have you ever seen a pop up on a product page of an eCommerce website that says, ‘the product will be delivered to you by Saturday if you order in the next 10 minutes’? Amazon use this with Prime members who shot close to the delivery cut off times. Soon you’re thinking about how you’ll be able to use the product over the weekend and the buying decision has almost already been made. It’s an excellent strategy which alters our mindset into thinking we’ve already purchased the product.
4. Free Shipping With Set Amount of Spend
We all love free shipping. Who want’s to pay to have their items delivered. But then there’s always a catch. You have to spend over a certain amount in order to get the free shipping. This method is used to get customers to add more items to their cart and increase their average order value.
5. Guarantees, Warranties, And Free Returns
Companies that provide a lifetime warranty with their products, help build customer confidence in the product and the website. Guarantees and warranties are often used as marketing tools, and they work. Not only do they help build the sites credibility and customer service levels, they’ve also shown to improve sales figures and customer satisfaction levels.
Abandoned Shopping Carts
E-commerce companies are also trying a variety of tricks to avoid cart abandonment issues during the checkout stage of the buying process. Here are a few of them.
1. Auto Inserting Coupons
Customer’s spend way too long on coupon websites to find the best deal. Sometimes the frustration of not finding that elusive ‘best coupon’ makes them just walk away from the entire shopping process. Don’t let this happen to your customers. If they qualify for a coupon code, fill it in automatically and show them how much they’ve saved. They’ll not only appreciate the dollar savings, but the time saved as well.
A popular car parts website in theUK called Eurocarparts uses this tactics all the time to make customers feel like they have saving huge sums of money.
2. Express Checkouts
The quicker you can get our customer to fill in his card details and press pay the better for your business. Here’s how too quicken up the process.
- Ask users if they’d like to save their card details for future transactions
- Provide users with 1 click check out options
- Don’t force them to add additional details then what is absolutely required
- Apply coupons if applicable automatically
3. Display Savings
The trick of loss aversion started off in the offline world but was perfected online. All marketers know how effective it can be to show customers how much they will save if they make a purchase right away. Online retailers show the original price next to the discounted rates while also mentioning how much they’ve saved. Everyone loves a good deal, and people are more willing to make a purchase on the spot if they think they’re coming out on top.
It’s important to display how much a shopper is saving from a purchase very prominently. We’re conditioned to remember the first things that we set our eyes on and it becomes the basis of our decisions in the future. For instance, you’d sell more of a $70 product if you have the price of $100 next to it slashed out, and ‘SAVE $30’ mentioned in bold, then you would if you only kept the $70 price tag. Even if it was discounted.
We’d be surprised if you’ve never noticed these strategies while shopping online. They’re there for all to see, but we’ve become so accustomed to them, that we sometimes gloss over the details. Using these tricks an eCommerce website can definitely build a reputable online business and improve ROI on marketing efforts.