Do you want more conversion? How can you influence customers buying decisions in 2021?
This becomes more important during Covid_19 when most customers are shopping online.
One of the biggest trend during pandemic is small business going online.
Lot of businesses that never had been online, got online for the first time.
And those who had an online presence made online their primary way of doing business.
But, How do you influence buying when attention span of customers has reduced.
You can watch the Video or Read full article below, the choice is yours.
Attention Span. How can you influence customers buying decisions?
Do you know in 2020 people on an average spent 4.5 hrs. online, increased from from 2.5 hrs earlier.
This will continue in 2021.
With the rise of smart phones & internet penetration people are spending more time online.
And as said earlier, due to covid_19, the time spent online has accelerated.
But mind it, the attention span has reduced to 8 secs from 12 secs.
With the attention span reducing, How can you influence customers purchase decisions?
The Noisy world of Online Business.
Influencing customers buying decisions is not easy when internet is full of noisy world.
As a small business owner & Marketer, getting attention of customers is not easy specially in 2021.
Anyone who is in marketing, they know the role they play in influencing the customers buying decisions can make or break a sale.
Reaching customers at the right place at the right time is Marketing.
Asking right questions is Marketing that can help improve your presence & create awareness
The Marketing Funnel
Influencing the customers across the entire marketing funnel is the key.
a. Creating Awareness.
b Consideration.
c. Decisions Making.
d. Action
Marketers need to understand the journey of a customer at each funnel or step & take necessary action.
Taking appropriate action & influencing the customer specific to that funnel influences the buying decisions.
If all the step s & action are perfect, the customer ends up buying.
Video : Top 5 Tips on Online Marketing
The Classic Model or Old Marketing & influencing customers buying decisions
In a classic model old or marketing mostly used by P&G & Unilever was enough to make any marketers successful.
It was just a 3 Step model that would influence customers buying decisions.
Lets understand the Old Marketing in detail by giving example:
The 3 Step Model in Old Marketing
In an old model of marketing, lets say some one saw an outdoor Ad, watched Ad on television, or read an article
Band awareness was created about product & services via above medium. This was called ‘STIMULUS’
With ‘STIMULUS’ people will go to outlet, see the packaging, pricing & buy a product. This was called ‘First Moment of Truth’
After buying a product, the customer ( he/she) will use the product (got an experience of using a product) good or bad experience.
With the experience they had, they will share those experiences with friends, family & network.
This was called ‘Second Moment of Truth‘
If the Marketers followed the above 3 Steps, they would be successful. Right?
Lot has changed in last few years, the way customers buy or shop.
Year of 2011. ‘Zero Moment of Truth’ Coined by Google
‘Zero Moment of Truth’ was coined by google in 2011 when mobile device adoption & social media started in 2000.
So What is ‘Zero Moment of Truth’
Zero Moment of truth is nothing but the moment in the buying process.
It is about when a consumer researches a product or services prior to purchase.
Do you Know a buyer or shopper takes 10.4 sources of information before he moves from ‘undecided’ to ‘buying decision’
In travel & hospitality industry the sources information is 40 before a person decides to buy.
This sources are very powerful. It can make or break a sale.
As more & more customers are going online, the way they shop or buy has changed.
So what are these sources.
Lets dive into it.
Zero Moment of Truth. Sources to influence buying decisions
- Talked with Friends & family about a candidate
- Reading reviews & endorsements online
- Compare the product & services or Brand Online
- Check out Company’s website
- Searched Online like we always do. Used search engine like Google
So today’s consumers tap lot of information before they decide to buy.
As a Marketer or small business have you kept up? If not, start working on these sources of information that can influence a purchase.
keep all the information upto date & polished.
Customers consult the internet or online to come at the decision making.
They look for social proof, they want to compare, they read reviews befoe deciding to buy.
This is The New Model in Marketing
What you can do influence buying decisions in 2021?
So all these micro moments take place during ‘Zero Moment of Truth’ are the best opportunity for you to position your brand.
Be where your prospective customers are & influence the buying decisions before you lose a sale to your competitors.
As a Marketer or Small Business, start working on the powerful sources.
‘Zero Moment of Truth’ is nothing new, but marketers fail to realize that it is still valid today in 2021 & going forward.
Using the micro moments can yield great results in influencing the buying decisions of consumers.
So, what steps are you taking today to influence the buying decisions of people who are looking to buy your product & services.
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