Human psychology is perhaps one of the most tell-tale determinants of purchasing behavior. And while they’re challenging to measure, they’re a powerful influence on consumers. Thus, effective selling requires an intimate understanding of said factors and how to leverage them to move soon-to-be-customers through the sales funnel.
Motivation, perception, learning, and beliefs and attitudes are the four psychological elements dictating purchasing behavior in highly significant ways. Ian Aubourg of East Greenwich explains that drilling into each one allows marketers and salespeople to level up their game and get stock/services flying off the shelves.
The Four Psychological Factors Influencing Consumer Behavior
Consumers make buying decisions daily as they navigate companies in search of a product or service that fulfils a need and/or solves a problem. But it’s the underpinning factors driving this need that professionals need to target to ensure they stand out from the ever so populated competition.
Motivation
Motivation is nothing more than what drives people to act in particular ways or buy certain products. In the purchasing case, consumers are motivated to buy based on a want to satisfy a desire or need — whether that’s a psychological need/want (e.g., to feel like they belong) or a physical need (e.g., hunger or thirst) depends on the person and the product.
Abraham Maslow’s hierarchy of needs is the most widely used motivation descriptor. From the top down, the need pyramid contains:
- Self-actualization/achieving potential
- Esteem and accomplishment
- Love and belonging
- Safety
- Physiological
The most basic need, physiological (i.e., the need for survival essentials), must be met before others. Motivation for food and beverage companies, therefore, is easy to establish and easier to market considering the need is first on the must-be-met list.
Perception
Perception is how consumers see the world and, more importantly, products and services. It’s the process in which they collect information and interpret the information into a meaningful mental image. Essentially, it’s first (and ongoing) impressions.
Whenever they see social media posts, advertisements, or reviews, they’re building their thoughts and feelings about a product. Therefore, perception is a major purchase influence.
Learning
Learning can be cognitive or conditional. The latter involves consumers being repeatedly exposed to a scenario, making them develop a response. The former involves the consumer applying knowledge or skills to find a solution and satisfaction from the product they buy.
Selective comprehension is key here. People often only interpret information in a manner that confirms beliefs they already have, leading to exceptional brand loyalty.
Beliefs and Attitudes
Attitudes are people’s outlook on a particular brand/product/service and are typically influenced by social factors. Beliefs are people’s views on brands/products/services based on personal opinion or factual knowledge.
Paying close attention to consumer beliefs and attitudes as a marketer is important to ensure people have an accurate representation of the product or service.
Leverage the Psychology of Sales for More Effective Selling
Professionals can leverage these psychological influences in several ways: changing the way customers think about problems, proving they’re experts, giving them something before selling, creating a sense of scarcity, leaving some mystery, and much more.