Marketers have long analysed the many influences driving consumer behaviour to assist in the creation of effective marketing strategies. Consumer behaviour refers to the study of an individual or groupâs purchasing behaviour. Understanding consumer psychology or the âwhyâ behind buying behaviour allows ventures to create strategies that will drive consumer behaviour and lead to increased sales.
The Role of Consumer Psychology
Understanding consumer psychology is vital if you want your venture to convert buying behaviour data into actionable next steps. According to the Howard Sheth Model, there are three major factors that drive consumer behaviour. These factors include marketing, psychological and societal factors. While your venture cannot directly impact these elements, you can sway consumer decisions through effective strategies and thus influence buying behaviour. At Allied Legal we have listed the top ten ways your startup can drive consumer behaviour:
Social Media
Due to the volume of purchases that are made online, the importance of a strong social media presence has never been more vital. Not only has social media changed the way a startupâs offering is promoted, but it builds trust amongst consumers. Social media marketing can also be an affordable way to drive buying behaviour compared to Google Ads or sponsored content.
Visibility
Without an online presence your startup has little chance of achieving any level of e-commerce growth. Afterall, how can you drive consumer behaviour if your prospective clients donât know you exist? This is particularly essential during the problem-solving-stage of the Howard Sheth Model, where potential clients seek information about a particular product or service. During this stage, you may need to adopt target advertising techniques such as paid search engine optimisation (SEO) and pay-per-click advertisements.
An Updated Website
Your website is the base of your startupâs online operations. Your websiteâs content should clearly communicate your ventureâs unique offering and competitive advantages. Investing in your website and frequently giving your brand a ârefreshâ online will showcase an active online presence which is essential to driving consumer behaviour.
Cultural & Social Shifts
Though many audiences will tell you that they donât keep up to date with the latest trends, in this digital landscape, trends are almost impossible to ignore. As the Howard Sheth Model outlines, cultural and social shifts affect consumer behaviour. Currently, climate change, for example, is a driving force for many conscious consumers. Consumers are demanding companies to be more environmentally and socially conscious, which has seen marketers develop campaigns accordingly.
Sales & Discounts
Beyond digital marketing, think about using incentives to help you compete more effectively with the online noise â loyalty clubs, subscriptions and memberships can be great ways to add value. Your venture can also promote and incentivise buying behaviour through a mix of sales tactics including discounts, referral schemes, and new customer deals to improve customer retention.
The Right Promotional Mix
You can promote and reinforce your startupâs message through a blend of promotional variables, including advertising, sales and marketing promotions, public relations (PR), personal selling promotional mix and direct marketing. Finding the right blend of promotional tools that will tie your startupâs marketing message together, can assist in driving sales and standing out in a cluttered market.
Brand Imagery
Employing repetitive imagery and word associations that represent your venture can be a great way to attract attention. This can promote brand association during a marketing campaign and entice routine buying behaviour. You can follow this up with alternative communicational tactics such as electronic direct mail (EDM) marketing.
Emotional Messaging
According to Effy Pafitis in an article for Starting Business, emotional messaging can be a great way to leverage your startupâs core values and mission statement. Through an emotional appeal marketing campaign, you can tell a compelling story, control your brandâs image, and inspire an emotional connection with prospective buyers.
Nostalgia
Marketers often affect consumer behaviour by evoking emotions such as nostalgia. If a client can connect your startup with a positive memory, this may impact their loyalty to your brand. Brands typically utilise this strategy by promoting popular images, music, or text through their marketing channels.
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Analytics & AssessmentÂ
With the prominence of online consumerism, it has never been easier to analyse the purchasing behaviour of your target demographic. You can use means such as Google analytics to discover trends at the beginning of your campaign and then evaluate your marketing strategies at the end of your campaign.
Final Thoughts
Trevelino co-founder, Dean Trevelino, promotes the âspend and test and spend and testâ method, which means that driving consumer behaviour is often about trial and error. What works for one startup may not work for another. It is about analysing and auditing the areas that work best for your venture and driving focus in these areas to maximise your startupâs effect on consumer behaviour.
Need help?Â
At Allied Legal, not only do we offer expert legal advice for your startup, but we provide sales expertise too. If you would like to utilise our complementary 30-minute sales session, or if you would like to speak with our team of commercial lawyers, you can call us on 03 8691 3111 or send us an email at hello@alliedlegal.com.au
