Understanding the buying behaviours of people is a really interesting world and requires just a little bit of observation. By listening to your potential customer and watching their body language, paying attention to the details of them as a person, (the way they speak, their clothes, topics of discussion), watching what products they touch and asking them questions, you can eventually assess whether or not this person is going to buy from you.
Yes this sounds incredibly manipulative however don’t be blinded, look at the world around you. Businesses pay big money to sit their product at eye level so when you walk through the supermarket you see them. Other companies research the sweet spot in food products so they know on a physical cellular level, you will love it so much, you will come back for more.
Its the same with music, clothes, fast food even the website you clicked on will now appear in your social media feed, did you notice that? The world is watching and paying attention to you, so pay attention back.
The Early Adopter
We all have a friend who just loves to spend money, I’m not saying its a bad thing, its just your awareness of your friend is so spot on, that if a group of you ended up at a product party, you could put money on your mate walking out the door with at least 1 or more items.
Your friend is what is commonly known as an early adopter, one of the first people to purchase and they will persuade themselves (and possibly their partner) of the benefits of having that product and how it will effect their life. These types of purchasers are open to you selling to them and will listen to offers and the reasons and why your product is so perfect for their life!
These purchasers are great for advertising as they are very social about what they have purchased and the experience they had, they generally have excess to larger amounts of money (or credit), because let’s face it, taking up the first of a product usually means a higher price tag.
Just be warned though, if they have an experience that is less than satisfactory, they are going to ‘Poor Me’ that all over social media too! So make sure your customer service is on point with this buyer!
The Considered Purchaser
This is the customer that reviews the product, who possibly checks 2 or 3 items from different places and weighs them up against a criteria that speaks to them about functionality or value. I have to admit I am 80% one of these purchasers, this has come about since I met my partner - until then I would have definately been the ‘see it buy it type’.
Considered purchasers are slow to purchase, for example they don’t take the first version of a new smartphone that launches, they wait until the bugs have been fixed and will perhaps take the 2nd, 3rd or 4th option when it becomes available.
You will need to make a great impression on a considered purchaser to encourage them to buy from you straight away, you can even have a conversation with them about the options they are choosing as generally they are quite open about the reasons why they are looking at a variety of products. You will work that out, when you notice them asking lots of questions.
If you do not feel confident that you will make a purchase from this buyer type, then you need to focus on them having a great experience and ensuring you both get contact details of each other, so a future spend can happen. This type of customer is highly likely to come back to you, because you helped them feel that they had a great customer experience.
They are also the purchaser that will buy from the same sales person, because they have integrity and would wish the sale or commission to go to the person that gave them their time.
The Bargain Hunter
We all love great value, we see constant advertising in our world of discounts, specials, money off, points and rewards programs. There are even days named after a retail event - think about Boxing Day or now Black Friday. The world of retail has actually made itself quite transparent in that we are all being overcharged. Seriously think about it, why on earth would you pay full price, knowing that if you just wait - you can get up to 75% off the price?
People even sell their items online higher that what they actually want, in a bid to get the price they would be satisfied with.
I have even seen it in major corporate companies, think about all the bills you pay - INCLUDING your utilities that will price match just to get you as a customer - so where is the real price? It makes almost everything negotiable and yes - I know people that will not take the first price and will negotiate every single time.
I have also seen handmade artists out there that do not operate sales and specials and believe that they offer a fair and reasonable price and I totally believe then and completely respect that.
Unfortunately thought, It is a line of trust that many consumers are unable to connect with as they are constantly being programmed by sales related marketing, plus there is a behaviour of many that will not purchase and will not treat themselves to what they may consider a luxury product, unless it is on special.
It’s almost a permission basis, where some purchasers block themselves as they have programmed their own minds in such a way because deep down they believe they ‘should’ be spending the money on their children or more useful function things for the household, or they don’t deserve it mentality.
I believe there is room for a bargain and it appeals to a large subset of purchasers, especially if you create a product that is more of a ‘nice to have’ than an everyday need or functional requirement.
The key though, especially when it comes to developing trust, is to ensure that that there is a balance and a fairness and there is an acceptable pricing for your ideal customer what ever their buying behaviour.