complete guide to consumer psychology for startups

consumer psychology
complete guide to consumer psychology

Many years back, email spam, free scam ebook and black-hat tactics were the way to entice and trigger the curiosity of your customers to buy more but today, consumers are too smart for this tricks.

They are entitled with ad blockers and other tools to avoid this aggressive marketing concepts. Understanding Consumer psychology is imperative for your business to stay relevant before your customers.

Not having any insight in to your consumer behaviour is the same as no knowing your untapped conversion rate optimization tactics for growth hacking

Today consumer psychology is a win win situation for growth marketers. Each and every potential customer that stumbles on your product page differs but in many cases their brains are subjected to react in similar manner.

Spotting their psychology helps you to lead these prospect through their buying journey with their fear of missing out since tackling customer pain point guarantees customer satisfaction.

What’s consumer psychology

This is the process of understanding the concept that propels your customers to buy your product. Before we get started on the benefits of identifying customer psychology, here are customer behaviour studies to get you started.

  • Leverage urgency the smart way
  • Prioritize the power of labels
  • Use shortcomings to highlight strength

Benefits of identifying consumer psychology

In this modern age of marketing, products are saturated everywhere. The question is how do you market your products in other to dominate your niche and outperform your competitor? the practice works great for companies of all kinds and these are some of the advantages.

Increases your revenue

Once you understand your consumer psychology, retaining them for long time plan becomes easier. This helps cross-sell, up-sell and increases customer lifetime value since targeting the right type of customers becomes your priority.

Helps in consumer personalization

The worse thing that irritate customers is irrelevant products recommendations. When you know the demands of each and every one of your consumer, you do not have to inflict products they don’t need on them. Amazon does well when it comes to personalization.

They invested in consistent data collection of their customers which they use for quality product recommendations.

Reduces customer bounce rate

Do you know that bounce rate can have an impact in your ranking? high bounce rate is a signal to Google that your products does not worth it for customers and it’s a signal to you that your customer are now buying from your competitors.

5 tools for learning more about your customer

within my 5 years of experience as a digital marketer, I have realized using a lot of tools to determine the consumer psychology can be an intimidating task but if you want to scale-up your startup to thrive like brands such as forbes and entrepreneur.com, this hand picked tools are ideal for you.

Customer leave trails of data in search engines and social media sites. Analyzing and understanding this data provides you with valuable insight on your client. By using these tools you’ll start to see patterns about your customer who come to your site.

The good new is that most of this tools are free and available for startups.

Google analytics

During search engine campaign, Google analytics can be use to track your keywords in other to have an upper-hand. This tool tells you the number of consumers who come to visit your website but sadly bounce because they were unable to locate the product they were looking for.

This gives you the chance to change few things on your website such as popups, mobile optimization and product improvement.

The tool provides data in various scheme such as spreadsheet, charts, list, graph and many other forms. The data visualization features allows you to know how your website is performing base on consumer conversion.

Benefits of Google analytics

  • It completely free of charge
  • Helps in visitor segmentation
  • Spots where your customers are coming from
  • Make a bold decision on the social media to target

Similarweb

According to salesforce, 50% of consumers switch brands if a company is unable to provide their need. Do you want to be that company who’s prospects are buying from other brand?

I hear you say no.

Now get this lead scoring is base on both implicit and explicit scoring. explicit coring is base on information provided by your prospects base on direct information such as job title, company size and industry.

implicit scoring is base on consumer behaviour. You and I know implicit scoring can be time consuming and this is where similarweb API’s come in handy. Their email lead qualification tool allows you to enter the email of any of your potential customer and pulls valuable information.

Survey monkey

Survey monkey can be used to achieve a wide variety of task such as collecting and storing and keeping track of customer data. The results of the quiz and testing feature can be use to access how your customer have grasp your products.

Crazy Egg

This tool uses heatmap technology to collect all clicks on a specific page and project it as a screenshot. Crazy Egg collect useful information of each click such as device type, country and referrer. This tool can measure every action taken by your customers allowing you to find holes in your sales funnel and roadblocks.

Final Thought

If you want to notify your consumer psychology, I have provided you with this insight and I hope you go ahead and collect data with the tool provided above and get in to the brain of your customer.