Consumer PsychologyThe hidden forces that shape people’s decisions
Imagine you could predict people’s purchasing decisions EVERY SINGLE TIME. Now, imagine you could skew consumer’s choice to more expensive options and thereby boost your profit.
Most people make a purchase without being able to clearly underlining the reasons behind such decisions. That’s because emotions, social norms and other forces we are not really aware of are part of our decision-making process. And it is those brain drivers that make people’s decision sound irrational.
So, how can you get into this unconscious territory to predict consumers’ choices? and is there a way you could anchor consumers to higher prices?
No matter how big or small your business is, we can help you decode consumers mind and be in control of their decision… Consumers’ choices are no longer be a guessing game!
In this offering, we will open your eyes to the hidden forces that shape consumers’ choices. We will explain how people rarely choose things in absolute terms and always compare. We will teach you 30 mind games that you can start using TODAY to boost your sales.
So, what are we promising You?The “MIND” objectives
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http://idsn.com/?page_id=6 Improve your product’s perception and value using the power of numbers
Nail key pricing strategies to boost your sales
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Our Step-By-Step Process
The decoy model
Skew your consumer’s decision towards your desired offer/product by adding one or more useless offers that no rational person would choose.
The anchor model
use substantially higher prices to shift perception about your product relative to comparable products in the market, and a differentiated product experience.
The reframe model
rename the prices to relate to target customers.
The power of 9 model
using 0.99 instead of rounding up while pricing, as consumers perceive the difference to be larger than it is.
The time model
manipulate the aspects of urgency-scarcity-occasions (promotions) to encourage consumers to purchase their products.
The zero price effect model
every transaction has an upside and a downside, but when something is FREE, we forget about the downside.
The donations model
base your pricing model by adding to the psychological pleasure of the consumer.
The pay later model
using deferred payment method reduces the psychological burden of having to pay now, and increases the probability of purchase.
The other people’s money model
people are less price sensitive when they are not buying products for themselves.
The social approval model
using influencing aspects such as peer pressure to encourage purchasing decisions.
The currency symbol model
using prices representation to increase probability of sales.
Stimulating the senses model
using ideas like free trials to engage consumers and encouraging them to purchase your product.
Limiting options model
cutting choices to increase sales.
The confuse customer model
changing packaging sizes, design, functionality, and existing features to avoid price comparison.
What Our Clients Are Saying
Our company learned and was able to apply a variety of consumer psychology tactics from its engagement with Innovety. It was truly beneficial.
Throughout the engagement, our company not only learned about how to address consumer’s needs but more importantly how we can influence their choices and correctly position our products.