Tag: Attract Customers

How to Identify and Attract Your Ideal Customer: A Comprehensive Guide

This article has been contributed by Anand Bhushan, CEO, EasyRecruit+ and EduCrack.

In today’s fast-paced and fiercely competitive business landscape, the key to sustainable growth and success lies in understanding and connecting with your ideal customer. These are the individuals or groups who not only have a genuine need for your products or services but also resonate with your brand’s values and vision. By identifying and attracting your ideal customer, you can forge meaningful relationships, build brand loyalty, and pave the way for long-term profitability. Before understanding and attracting the ideal customer, let’s first talk about what or who an ideal customer is.

What is an Ideal Customer?
How to Identify and Attract Your Ideal Customer

What is an Ideal Customer?

An ideal customer is someone whose needs align perfectly with the solutions provided by your business. Creating ideal customer profiles allows businesses to identify target markets and implement more efficient marketing and promotional tactics. Since your products or services precisely cater to their requirements, these customers are easily attracted and retained with minimal effort. By ensuring their satisfaction, you may also witness these customers advocating your services among their acquaintances, thereby contributing to the growth of your business.

How to Identify and Attract Your Ideal Customer

Here are the actionable insights that will help you identify and attract your ideal customer:

Conducting Market Research and Segmentation

A crucial initial step in this process is to conduct comprehensive market research and segmentation. This involves gaining a deep understanding of your industry, studying competitors, and analyzing overall market trends. By carefully studying data and gathering insights, you can uncover patterns and identify potential gaps in the market. After gaining clarity about your industry, you can proceed to segment your target audience into distinct groups based on demographics, behavior, preferences, and pain points.

Creating Buyer Personas

The creation of buyer personas is instrumental in humanizing your target audience and tailoring your marketing efforts to meet their specific needs. These fictional representations of your ideal customers are crafted by conducting surveys, interviews, and collecting data from your existing customer base. By identifying common characteristics, goals, challenges, and motivations, you can create detailed personas that encompass their background, interests, preferences, and buying behaviors.

Addressing Pain Points

Understanding your ideal customer’s pain points is a critical aspect of offering relevant solutions. Identifying the challenges and obstacles they face regularly allows you to position your products or services as effective solutions. The ability to address these pain points directly can help you attract and retain your ideal customers more effectively.

Leveraging Social Media and Online Engagement

To gain deeper insights into your target audience’s needs and opinions, social media platforms and online forums are invaluable resources. Engaging in social listening by monitoring relevant conversations, comments, and feedback related to your industry and brand provides real-time insights into the thoughts and preferences of your target audience, enabling you to adjust your strategies accordingly.

Analyzing Existing Customer Data

Looking within your existing customer base can offer a wealth of information to guide your ideal customer identification process. Analyzing purchase history, behavior patterns, and engagement levels can help identify common traits among your most valuable customers. Utilizing this data refines your ideal customer profile and ensures that your marketing efforts are precisely targeted.

Engaging Directly with Surveys and Feedback

Directly engaging with your audience through surveys and feedback loops can yield valuable information about their preferences and expectations. Conducting periodic surveys can provide insights into customer satisfaction, brand perception, and opportunities for product improvements. The feedback you receive helps you adjust your strategies and cater to the needs of your ideal customers more effectively.

Content Tailored to Ideal Customers

Once you have a clear understanding of your ideal customer’s preferences and pain points, it’s time to create tailored content that resonates with them. Whether it’s through blog posts, social media content, videos, or email campaigns, ensure that your content addresses their specific needs and interests. Personalization can significantly enhance your ability to attract and retain your ideal customers.

Aligning Brand Messaging and Values

Your brand messaging and values play a vital role in attracting your ideal customer. Clearly communicate your brand’s mission, vision, and values, ensuring they align with the beliefs and aspirations of your target audience. By establishing a strong brand identity, you can build trust and loyalty among your ideal customers.

Influencers and Strategic Partnerships

Influencers and strategic partnerships can amplify your brand’s reach and credibility among your ideal customers. Identifying influencers who resonate with your target audience and collaborating with them to promote your products or services can be highly effective. Additionally, seeking partnerships with complementary businesses allows for cross-promotion and access to new customer segments.

Continual Monitoring and Adaptation

Identifying and attracting your ideal customer is an ongoing process. Monitoring the performance of your marketing efforts, tracking customer feedback, and staying updated on market trends are essential steps. Continuously adapting your strategies to align with the evolving needs and preferences of your ideal customers ensures your long-term success.

In conclusion, successfully identifying and attracting your ideal customer is a transformative process that requires thorough research, data analysis, and a deep understanding of your target audience. By developing buyer personas, addressing pain points, and utilizing social listening, you can tailor your marketing efforts to connect with your ideal customers on a more personal level. Emphasizing brand messaging, creating tailored content, and leveraging influencers will further strengthen your relationship with your audience. Remember, understanding your ideal customer is an ongoing journey that will ultimately lead to long-term success and sustainable growth for your business.

How to Create a Powerful Customer Experience Strategy?

Customers’ experiences can widely influence how they view your company or brand. Check out how you can create a powerful customer experience strategy.

Shikha TyagiStartupTalky

August 9, 2023
Scent Marketing Strategy: Using Fragrance for Marketing

Marketing is an essential aspect of every business. It helps businesses to attract and generate more sales. With time, business strategies change. Likewise, marketing strategies have also seen many changes over the years.

Earlier most of the marketing was dependent on television commercials. It is still a big source but now it shares the space with other strategies as well.

Nowadays, many types of marketing are available in the market. For example- marketing via social media, email, influencers, messaging, etc.

Scent marketing is another example that is gaining huge popularity. Using scent is a great way to enhance a brand’s identity and influence people’s purchasing decisions.

About Scent Marketing
Different Types of Scent Marketing
How Does Scent Marketing Work?
Benefits of Using Scent Marketing
Why Scent Marketing is Becoming a Popular Choice of Brands?

About Scent Marketing

Scent marketing is also known as aroma or fragrance marketing. It is a type of sensory marketing that targets the consumers’ sense of smell. Usually, businesses target the sense of sight and sound more. They make visual ads that put entertaining sounds to them to attract customers.

This strategy of aroma is about creating a special scent linked with a brand to develop a firm bond with buyers. In this, each brand has a unique scent. It is like an aromatic logo of a brand.

It is the art of using scent to enhance the value of a brand and its marketing message. It means strategizing to diffuse a specific scent around different corners of a store. The main aim here is to give the customers a pleasant shopping experience and enhance sales.

Different Types of Scent Marketing

Types of scent marketing

Aroma marketing is a unique marketing strategy that influences the customers. Different brands use different types of scent marketing strategies. The following are some of the types:

Scented Billboards

It is a technique of marketing in which a scent is sprayed around the store. For example, every brand creates its signature scent. They use the same scent in every outlet of their brand. So, when a customer enters any outlet, they feel the same experience.

A good-quality scent helps a brand to establish a unique identity. This enables them to attract more customers to come to them.

Ambient Scenting

This strategy means introducing or changing the scent of a place. In this, the businesses do not use any specific scent. They put up the diffusers that spread pleasant and relaxing scents all around the place.

Light and fresh fragrances create a nice impression on customers. It makes the customers feel happy and relaxed and they are likely to stick around for more time. Some of the usual scents for ambiance are vanilla, floral, lavender, etc.

Theme Scenting

It is one of the most important types of scent marketing. In this strategy, the businesses use a scent that compliments their environment. These represent the theme of a business.

For example- coffee beans fragrance in a café, leather scent in a shoe store, lavender in a spa mall, etc.

The diffusion of scents must match the environment and the products. If they do not match, they might create an adverse impact.

How Does Scent Marketing Work?

Scent Marketing

All our sense travels to the brain. But, unlike other senses, smells travel to the parts of the brain in a flash without processing.

As per different studies, 75% of emotions are based on the things we smell around.

Scent marketing targets our sense of smell and takes advantage of it. Brands use scents that can be specific or generic to influence customers’ emotions.

This technique takes the benefit of scents and tries to attract more buyers. It aims to create a lasting impact of the brand on customers. It means strategically choosing scents and diffusing them at the touchpoints of customers.

Benefits of Using Scent Marketing

Scent or aroma marketing is the latest and phenomenal marketing technique. It has the following benefits:

Sales Enhancement

Quality scents help create an emotional connection with the customers. When buyers feel connected to a brand, it develops trust among them. Thus, the more they trust, the more the sales. In this way, scents enhance sales.

Scent marketing enabled an 80% increase in the intent retail sale of Nike

Brand Recognition

Scents create a direct impact on customers’ minds. Many brands like to use a specific scent. They use the same scent in all their outlets. For example- Starbucks Outlets uses the scent of coffee in their outlets. This helps them establish a strong identity all around the world. Thus, the technique helps to enhance a brand’s recognition.

Humans tend to recall smells with 65% accuracy after the span of 1 year

Increased Browsing Time

Pleasant scents attract the customers and make them browse for a longer time. More time in a store allows a deeper interaction between the customers and products.

Enhances Mood and Aesthetics

The sense of smell has a direct link to the brain. So, a fresh and pleasant fragrance is sure to lift the customers’ mood. It makes the customers feel light, fresh, and relaxed.

A pleasant smell can improve the mood by 40%.

Apart from this, quality aroma enhances the overall aesthetic of a place. It gives the ambiance a modern and updated feel.

Increased Return Visits

Refreshing scents give a good experience to the customers. When customers receive a nice experience from a place, they wish to visit again. Also, they tend to share their experience with friends and thus, increased visits.

Elevated Value Perception

Studies have shown that scented spaces radiate a sense of better quality. When customers walk into the stores and sense pleasant smells, they are more likely to perceive the brand as of high value.

40 Interesting Facts About Famous Brands | Interesting Brand Facts

Every brand has an interesting story or fact to tell. Here are 40 facts about popular brands that you might not be aware of. Interesting facts of famous brands

StartupTalkyShubham Kumar

Why Scent Marketing is Becoming a Popular Choice of Brands?

Research has shown that good scents tend to create a strong emotional impact. When it comes to retail shops, a good smell has the power to influence one’s buying nature. It has been proven that pleasant fragrances make the buyers browse a store for a longer time. Hence, comes the important role of scent marketing in the picture.

Scents help a brand to establish a special experience. It creates an idea of quality in the minds of the customers. Smell is an important sense that influences emotions. So, using a good scent is sure to create a strong impression on the buyers.

Looking at the importance of this sense, brands are now keener to invest in scent marketing. It helps the brand to attract more potential buyers and create an impact.

Conclusion

There is enough proof that quality scents have a positive impact on people. In the retail space, they tend to create a lasting and strong impression on the consumers. Many brands indulge in this type of marketing. Some of the popular names are Starbucks, Burger King, Rolls Royce, Hyatt, Bloomingdale’s, and more.

Scent marketing makes a place appear more updated and modern. It develops a sense of better quality among the consumers. So, opting for this marketing technique is a lucrative strategy for every brand.

FAQs

What is scent marketing?

The use of a strategically chosen fragrance to attract customers is known as Scent Marketing.

Is Scent marketing effective?

Yes, Scent marketing is as effective as other practical strategies applied to improve sales and customer satisfaction. Scent marketing effectively leaves a good impression on the clients and processes them to think positively about the given business.

What is Scent branding?

Scent brandings stand for the meaning of linking a brand with scent. This linking provides a better recall of a brand in its client’s mind just with the memory of smell. It can create a good connection between the clients and the brand if done successfully.

Is sensory marketing always effective?

The strategies applied in business can never be given 100% working results. It all differs from person to person. However, with the application of sensory marketing, there is a negligible amount of adverse results. Sensory marketing directly works on improving customer satisfaction and has the highest number of effectiveness attached to it.

July 2, 2022
Top 12 Proven Strategies to Convert Free Trial Users to Paying Customers
We all love SaaS products like Spotify, Trello, MailChimp, etc. But how many of us use the paid version of them? Well, not many individuals use the paid version cause these brands monetize on the enterprise version of the app.

But, what if the brand offers a SaaS tool only for B2B professionals? A freemium model is not the go-to option for each SaaS company. Also, unlike these well-established brands, it is hard for most SaaS brands to get users to try their products and become paid customers.

Netflix India had the hardest time converting users into paid customers. Many other SaaS products, especially new SaaS companies face the same issue. Let us look deeper into the issue first.

Types of Free Trials
Why Free Users Do Not Convert Into Paid Customers?
12 Proven Ways to Boost the Free Trial Conversion Rate

Types of Free Trials

There could be a couple of reasons that your free trial users are not converting. Firstly, let us look into the types of free trials:

Freemium Model– It means offering a set of features for free forever and charging for certain premium features. Example: Trello

Opt-in Free Trial– It offers the user a free demo period of 14-30 days without any credit card information, in exchange for the email address. Example: Salesforce

Opt-out Free Trial– It is similar to an opt-in free trial with a limited period of the demo but demands credit card information. Example: Netflix

The difference in the model also impacts the free trial conversion rate. It is generally noticed that conversion is maximum for an opt-out free trial. However, it is hard to get more sign-ups for the same. Nonetheless, what are the reasons that users pull back after trying your product?

Why Free Users Do Not Convert Into Paid Customers?

High User Expectations

There could be a gap between the user expectation and your product offering. The user might be looking for some specific features which are not USP for your product.

Better Alternative

The user might have a better alternative that solves the problem at a lower price or gives better performance. For instance, many companies prefer Slack over Microsoft Teams. Microsoft teams might be a cheaper alternative but Slack offers better integration and usability.

Bad Boarding Experience

Another reason that drives users away is an inefficient boarding experience. A smooth onboarding process means sending onboarding emails, tool setup & personalized demo, and providing an onboarding kit. Brands often miss multiple touchpoints to impact the users which affects the conversion rate.

The product does not solve the user’s problem

If your product does not solve the user’s problem and acts as additional friction or workload, conversions will drastically decrease. However, there are times when the best products can not convert as they are unable to communicate and highlight their value or lose points in customer management.

Here are 12 strategies that would help you increase your free trial conversion rate.

12 Proven Ways to Boost the Free Trial Conversion Rate

Conversion is not just about bringing more features or improving your product. The best-in-class product could also perform variably low due to mistakes like poor onboarding process, too much friction, complexity in product set-up, or lack of incentive. Below are 12 tactics that can enhance your trial to paid conversion rate.

Easy to Use Product

Your product might not have all the advanced features but if it can solve the users’ problems with ease, it will definitely get more paid users. Ensure that your product is easy to use and does not add up to the workload. It should have enough guidance to move around and use the product smoothly. Alternatively, there are many other ways to fill in the gap in case of a complex product.

Offer Personalized Demo

Sometimes the products are hard to understand and require assistance initially. In those cases, a personalized demo is a great way to highlight the use cases and make the user thorough with the product. Also, a dedicated team that helps onboarding with setup and a demo works exceptionally great to boost trial to paid conversion rate.

Create Resource Centre

Another way to tackle the issue of a complex product is by creating a resource library that the user can refer to as and when required. You can have a separate center on the website or within the product integrated into different places. Also, this is a great place to highlight case studies for your product and tap into any customer queries.

Highlight USP

Some brands fail in communicating their USP and hence lose a big margin to their competitors. What stands you apart from 50 other products available in the market that might be cheaper or more expensive than you? Identify and communicate this through your content throughout platforms and sales pages. It can help you cross the bridge if you have various close competitors.

Provide Conditional Offers

Apart from conveying brand USP and features, providing an incentive works as a great way to offer premium features and get paid customers. Something like this offer by Grammarly.

Grammarly Offer

It gives a 50% off which is only available till midnight. They help in attracting more paid users. Once the users opt-in for the paid version, it is generally noticed that they don’t unsubscribe from it.

Choose Opt-out Trials

Opt-out trials are a great way to increase your trial to paid conversion rate. Since it requires credit card details, it helps qualify users beforehand. It has the highest conversion rate of 30-60% for many brands. However, a SaaS brand that is new in the market shouldn’t opt for it as it wouldn’t get great results. It is great for brands with an existing brand foot in the market that wish to scale.

Leverage Email Sequences

Emails can play a major role in conversion if leveraged smartly. Firstly, setting an onboarding email sequence in place is really important. It smoothens the process of onboarding and keeps the users hooked to the product.

Secondly, using emails to send reminders about the end of the trial period is another way to use emails. Lastly, they are a great way to get customer feedback or voice any offers/features.

Ease the Upgradation Process

The process of moving from a free to paid version should not be a hassle for the user. It should include collecting credit card details + only necessary information. Also, It should not be complex for users to find a portal to upgrade to the paid version. The installation and upgradation should be effortless.

Provide Personal Support

Chatbots are a great way to handle customer grievances promptly. Chatbots or dedicated sales person could act as a team to solve queries for the users and create a better understanding of the product. Also, mark down the common queries that you get and eliminate/ simplify those elements to reduce friction.

Limit Number of Paid Features

As crucial as it is to show what the paid version of the tool can do, it is advisable to restrict the number of paid features. Only provide limited premium features depending upon the product usage and customer pain points.

Alternatively, offer premium features for a limited time or number of times. For instance, limit a particular feature, let us say integration with Google Suite for up to two times only.

After this, the trial may continue but those premium features are exhausted. This again boosts the free trial conversion rate. Also, try and limit the demo period to 14 days at maximum. It gives enough time for users to try the product and get clarity about it.

Optimize User Journey

A user journey is crucial for a business to understand how the user uses the product, where it lags, and what is the key to better performance. You should optimize this user journey by first analyzing it well with the help of heatmaps and then filling in gaps.

Start by holding a consistent narrative across platforms. Also, establish credibility in the niche with the right type of content and PR. Each user interaction should solve a goal for the user and add value to it. Aim to remove any unnecessary friction and ask for minimal details.

Use Heatmaps and Activity-based Triggers

Heatmaps are a crucial tool for SaaS brands to understand user activity. Not only do they help in understanding the user journey but also assist in optimizing the product for conversion.

Heatmap

You can use activity-based triggers that incentivize and ease product usage. HubSpot uses Activity-based Triggers efficiently to maximize conversion. Look at the email below:

Activity-based Email

It uses activity-based triggers, communicates value, gives an enticing offer, and highlights USP.

These strategies can be a great starting point to understanding the loopholes and fixing them up. But how much should a business aim for as a free trial conversion rate?

Conversion Benchmarks

A standard benchmark for free trial conversion rate is 4% across all the types of free demos offered and industries. Apart from these more defined conversion rate benchmarks based on the model of the free trial are:
- Freemium– Below 10%
- Opt-in Free Trial– 5-25%
- Opt-out Free Trial– 30-50%
This shows that the opt-out model is great to convert users but is generally advisable for brands with goodwill that wish to scale further. The Freemium model offers the lowest conversion rate and hence is adopted by companies that make money by selling to enterprises.

If your product has lower rates, look into the loopholes and fix them with mentioned strategies or some other solution. However, there are cases in which companies outperform these standards, such as Slack with a 30% conversion rate.

FAQs

What does “Free trial conversion rate” mean?

The free trial conversion rate means the percent of users that convert to paid customers after a free trial over a defined period.

How to calculate your “Free trial conversion rate”?

Paid customers after a free trial/ Free trial sign-ups x 100. For instance, if your tool gets 35,000 sign-ups in a month for a 14-day trial. Out of these 7,000 users convert into paid customers. Then, the free trial conversion rate is 20%.

What is a good conversion rate from free to paid?

15% to 20% is considered a good conversion rate.

How do I convert my free trials to paying customers?

Offer demo, highlight your USP, provide excellent customer support, and provide exciting offers.
July 1, 2022
What is Impulse Buying and How Can You Use it to Increase Sales?
We all have been there, where we saw an Ad on Google/ Instagram and instantly bought the product. It could be some skincare item, an earphone, or something else. A similar pattern is noticed when we enter a store with a ₹500 budget in our hands and a list of items we need. Yet, we end up at the counter with a bill of over ₹2000.

We all hate it, regret it, and want to end this habit of impulse buying. However, if you run a retail or eCommerce store, you want more of such people. They buy more than they intend to, leading to rising sales by a huge margin. But is there something that as a store owner you could do? Could you influence the people in your store to buy more?

What is Impulse Buying?
Factors Affecting Impulse Buying
11 Ways to Increase Impulse Buying in Retail or Online Store

What is Impulse Buying?

Impulse buying is an impromptu purchase without a planned intent. In simpler words, when a person purchases more than they planned. It is a sudden urge to buy, often driven by emotions. Triggering and manipulating buyers’ emotions is the primary tool for increasing impulse buys. Let us quickly understand the factors that impact it.

Factors Affecting Impulse Buying

As mentioned above, external and internal factors can impact impulse purchases. Internal factors such as emotions, and external factors such as advertising, store architecture, promotions, etc. play a big role in influencing people. They can majorly impact your sales. If leveraged, they can increase the sales by 40-80%. You only need to aim at:

Perceived Value

Do buyers find your store products worth the pricing? We don’t mind spending ₹5000 at Zara but would not spend that kind of money in a local clothing store. You need to ensure that users find your products ‘value for money’. Stores barely play around with their prices and rather offer discounts to enhance perceived value.

Urgency Factor

How many times have we spent thousands on the Pink Friday sale or Independence Day sale mindlessly? Time-restricted discounts and promotional offers can motivate buyers to buy from your store more so than often. They create a sense of urgency and buyers end up buying products they intended to.

Novelty (Uniqueness + Freshness)

BTS X McDonald created hype across the globe amongst the BTS Army. Even though the meal items weren’t really innovative, they brought more than Rs 16,000 crore in profit for Mcdonald’s.

When buyers are provided novelty products, people who are excited about that category end up spending a lot. For example, sneakerheads spend thousands on a pair of sneakers just because they find them unique. Your aim should be to offer novelty products to boost impulse buys.

The main aim of a store owner should be to excite people when aiming at impulse purchases. If you are a small store owner try to leverage the pricing factor to induce buyers. Contrarily, if you run a big store, use product displays and promotions as sales drivers. But what is the primary and most effective tool for impulse buying?

Role of Social Media

Imagine sitting on the couch on a fine Sunday evening and you see a promotional post advertising Pasta. Aren’t we automatically tempted to eat some pasta? Although this is not restricted to food only. People end up buying so many products just as a result of social media ads. So, these ads can encourage impulse buys. But how?

These ads aim to trigger certain emotions in the viewer and create a sense of urgency. We have seen those Ads about 20-45% off on XYZ brand for today only. These help a lot to bring traffic to these companies.

Let us say you are an online store selling marketing services. You can curate an Ad copy that targets customer pain points: “get more traffic” or “10X your revenue”. Pain points help in targeting a particular emotion- fear, happiness, etc.

In addition to this, you could leverage the urgency factor by adding a time-limited deal. Now, you can target these ads geographically or based on people’s activity. It generates a lot of revenue and encourages impulse buying.

Not only do these ads bring sales but also enhance brand recognition and foot reach. It’s a great way to tap the top of the funnel audience.

Now, we will look at some other actionable tips that you could use to enhance your sales through impulse buys.

What drives customers to buy products impulsively

How to Reduce Customer Churn Rate: 5 Proven Strategies

A churn is a user or revenue loss in a given period. If you don’t want to lose your customers, follow these strategies to reduce the churn rate.

StartupTalkySunita Singh

11 Ways to Increase Impulse Buying in Retail or Online Store

With the surge of online advertisements, social media marketing, and influencer marketing, impulse buys are at their highest. Here are 11 ways you can subconsciously trigger buyers to spend more time and money at your store.

Strategic Product Placement

Product placement is crucial to increase average order value and boost impulse buys.

Place complementary products/services together. This acts as a great way to cross-sell and avoids buyers from running to other stores to buy these items. For an eCommerce store, try adding suggestions of complementary products next to the items.

Place popular or best-selling items at the buyer’s eye level to increase the reach and chances of selling. If you are running an eCommerce store, position these products on your home page at the top to grab maximum attention.

In addition to this, add products with higher value at a better position on the shelf. For eCommerce stores, target best-selling high-end products on various pages of your website.

Utilize Check-out Counters

We see how when we are checking out of stores or any eCommerce stores, there are product recommendations at the checkout page/ counter. You need to utilize them strategically. Here are a few tips on the items you should add at the check-out.
1. Don’t add expensive products.
2. Don’t give too many options which might leave room for doubt.
3. Add smaller products that don’t demand too much thinking.
Your aim at this stage is to increase the revenue by smaller margins instead of making a big sale.

Offer Free Samples/Demos

Stores like Sephora offer free samples and demos to the people that walk into the store. These generally result in impulse purchases if they end up liking the product. This doesn’t really cost a lot and helps in boosting revenue. You can offer free samples at a purchase threshold at your eCommerce store to increase order value.

Leverage In-store Staff

In-store staff can play an important role in inducing more sales. A staff that works around with enthusiasm and guides properly can help to boost impulse buys. For an eCommerce store, this role can be filled by chatbots and chat support to help solve buyers’ queries. Nonetheless, a congenial staff is advantageous for a retail store.

Promotion

Apt promotion beforehand can impact impulse purchases. The aim is to provide conditional offers and limited-time deals. They bring more sales in a short time and create an urgency factor. This also enhances perceived value when buyers think that they back a deal worth their money. Some examples are:
1. Buy one get one free
2. 20% off on all items till coming Sunday
3. Get 10% off on apparel purchases every weekend
4. 25% off on purchases over 4000.
Window Display

Window displays in retail stores and home pages in an eCommerce store can make or break the deal for the store revenue. Add best-selling items and most trendy/ popular products here. This is a great place to highlight novelty products offered in your store. It is like a cover page for your store that can enhance impulse buys.

Cross Merchandise

Bundling is a great way to enhance impulse buys. It could be in either cross-sell or upsell format. You can pair complimentary or highlight an upgraded version. This acts as a great way to enhance impulse buys.

Ease the Buying Process

The buying process should be easy. A hasty process can lead to customers dropping the products from the cart which negatively impacts store revenue. You might lose a customer as well. Hence, an easy process coupled with cooperative staff plays a major role for a store.

Offer Novelty Items

Novelty items in your store can get a lot of eyeballs to your store and eventually help you in impulse buys. Not only do you end up selling novelty items but as and when more people walk into the store, more revenue is guaranteed.

Highlight Social Proof

Social proof is another driver for impulse buys. At times people when they read good reviews or see happy customers, end up purchasing the goods from the store. If not, they don’t hesitate to check the store which ends up in a purchase eventually.

Enable Free Returns

Free returns can help stores to build credibility and ensure customers that even if they don’t like the product they can return it. Although it can be a big hindrance for your business if buyers exploit it. So, offer limited day conditional free return.

Conclusion

Customer psychology can help a lot with increasing revenue. All these tactics can bring more impulse buys to your store. Social media can be the biggest driver for impulse buys whilst all these techniques surely help too. Just focus on customer needs and trigger the right emotions to skyrocket revenue for your business.

FAQs

What is impulse buying?

Impulse buying is when a buyer purchases a product or service without giving it much thought.

What are the 4 types of impulse purchasing?

Pure impulse purchase, Suggestion impulse purchase, Reminder impulse purchase, and Planned impulse purchase.

What do impulse buyers buy?

A common example of impulse buying is when consumers buy candies, gums, or drinks when they are at the checkout line.
June 28, 2022