While finding out the ways to understand what makes a consumer purchase a certain product. How does a consumer make online buying decisions? What are the points in his mind while making a decision to finalize the product?.
Here consumer behavior has to be studied extensively.
What are the considerations in the mind of the consumer to make up his mind to finalize a particular product?
There are a number of considerations while finalizing a particular product or service.
This blog will help you to learn and analyze consumer behavior while purchasing online.
What makes the consumer buy online?
The first thing that comes to his mind is to see the varieties and options available in the market. Due to the flexibility and demand of online platforms, a user naturally goes online option. Digital media is the best and easiest platform to get the most accurate information.
Here he gets information about various varieties and options. Going physically to different shopping malls and other avenues is tiresome and time-consuming.
Moreover, the consumer can see a limited number of varieties physically while going to shops, etc. Whereas while browsing through search engines, you can check as many websites or companies as you want to.
Searching and buying online provides the consumer with more options in less time. The information on the product is explained exhaustively with images of the product. Online portals also provide comparable benefits of quality and price of the product.
How consumers make online buying decisions?
Need Recognition
The need for something compels the consumer to buy a product. We know that people need so many things. When a person needs something, he tries to make up his mind to get the best product of that niche. Then they try to find out which product, brand, or service fulfill their need.
For example- John, a school going boy needs some extra source of teaching or learning. Here he understands his need. Now there are many options available to him like buying a self-study book, taking extra classes, taking tuitions, and many more.
Search for information
After considering his need and finding possible options he gathers the information about all the options. He starts browsing for accurate information that fixes his issue and gives him a permanent solution. Generally, the consumer goes for online research to gather information.
For example- in the case of john- after knowing the options available he research all the possible options. Like in the case of books he checks which types of books he can purchase, in case of extra classes he finds out the best tuition centers.
Evaluate Various options
When consumer make online buying decisions he finds out the necessary information and starts to evaluate all the options. They find the advantages, disadvantages, benefits, drawbacks of various options, and then compare them with each other.
After comparing, he can conclude which option will be best for their problem or need. Generally, customers finalize that option which is of low price with high quality along with trustworthy and that can provide the best results.
For example- John after knowing his need and analyze the options finds out the most relevant information about all the possible options. Then he evaluates the options like what benefits he can get from books or from tuitions.
After concluding all the possible qualities he finds out that going for tuition would be the best option. Then he checks for the various centers available nearby and goes for the one which is most suitable to him.
Making a purchase decision
Now the consumer is ready to purchase. He already made a decision about what product he is going to buy or which service to render. He is ready with his decision and now it’s your duty to influence them to make fast decisions. Like you can send them e-mails, show them ads or pop-ups which grab his interest further.
For example- as now john is ready to take tuition classes from a particular tuition center he may go there to talk or may talk via mobile. Now teachers have that right to convince him in the best possible way. Once the visitor john is convinced he will become your consumer.
After Sales services
There is a misconception that customer’s journey is over after making a purchase. Instead, after making a purchase a customer reviews that whether he has made a correct decision or not.
The customer will evaluate whether the service taken fully meets his needs or not. He decides whether the brand or company fulfills his promises that have been made past purchasing or not. Satisfaction plays a major role in the consumers buying journey.
If a consumer is dissatisfied with your product or service he may not come back to your brand anyhow. Whereas if a consumer is satisfied then he will definitely come back to your brand and may make a purchase again.
Factors influencing consumer online buying decisions
While making a purchase while making online buying decision a consumer lookout for various things that give them a reason to buy something.
Behavioral points that facilitate the consumer to make a decision to buy a particular product:
Price and Risk involved
The First thing that matters most is the price of the product. The site should display the selling price of the product clearly. Therefore a customer can make price comparison with other brands of the same product.
Another thing a consumer takes into consideration is the risk involved in buying the product online. He is not sure whether the right product, as shown online will be sent or something different or of lower quality may be received by him. This site should contain a number of positive reviews received on the supply of the product by other customers.
Reviews are a great catalyst in decision making
Reviews influence the decision-making process of the consumer positively. Positive reviews about the product alleviate the risk perception of the buyer to a great extent.
While purchasing a product the consumer online buying decision depends largely on the experience of other consumers who have purchased the same product. They send their reactions or reviews on the performance and quality of the product on the site.
So, the positive reviews should be displayed on the website in such a way that when a consumer is trying to buy a thing and opens the site, the first thing that comes to the notice is the reviews. It helps in forming a positive opinion of the product. Sometimes the earlier buyers grade the performance of the product in stars(*).
So the reviews with more stars should be displayed prominently. 93% of people check reviews before making an online purchase. Therefore reviews highly boost up the consumer buying decision.
Visibility of the product Brand on the website.
The brand should be promptly visible to the consumer making online buying decisions when he tries to find a product. The brand should be at the first page on the Google Search Engine. Normally people go through a few sites while trying to find the product he is in need of.
Consequently, the brand which is at the forefront gets more attention and search attempts. The consumer normally does not have the patience to go through a large number of sites. He surfs through a few sites and after searching and analyzing he makes a decision to purchase.
Another way to influence consumer behavior to buy your product is to make robust brand awareness. Inform the viewers about the social service being rendered to the community by your brand by sponsoring certain social service programs. This will positively help in influencing the decision of the consumer.
Easy accessibility of the website and its loading speed
When a consumer makes online buying decision and tries to search a website for a particular product the speed of the website plays a crucial part. Sometimes it may happen that a consumer has found the desired site of his choice but when he is trying to open it takes a lot of time.
If it is very slow and the consumer gets frustrated while trying to open it or at the time of downloading the information required by him. The consumer does not have the patience to try again and again. It is their state of mind to do things as faster as they can.
In that case, if your website is slow, all that he does is to move on to another site which is fast and easily opened. Even when a consumer tries to place an order, but due to the slow speed it takes too much time, or sometimes the connection gets cut. This influences the behavior of the consumer online buying decision negatively.
Role of Social Media
Social media have changed the behavior, habits, and lifestyle of people. Marketers believe that there is a huge shift in consumer’s researching and buying journey. More and more people are now shifted to social media. Social media works for your business in the most efficient manner.
- 56% of buyers do vigorous research on social media about brands.
- 79% of people responded that their buying decision is fueled up by a company’s social media profile.
Social media (blogs, graphics, videos, etc.) plays an important part in influencing the consumer’s online buying decision while making a choice. Nowadays the shoppers love information and free content on websites or social media.
80% of youth spend more than 8 hours on social media. Social media helps them to find what they are looking for. Now before buying, people check a company’s social media profile, its followers, its reviews on social media.
These things influence them to make a positive decision. Moreover, they will feel obliged to place the order next time when they decide to buy your product.
Conclusion
To make an effective marketing strategy it is necessary to know how customers make an online buying decision. It’s like a purchase funnel, the process they follow before buying something. Definitely no one could buy anything without need. And when they conclude buying something, how to influences them is a matter of concern.
Moreover, after analyzing, finalizing, and purchasing they look for after-sales services. As things don’t end after purchasing after-sales service influence them to return to your brand next time.
Also, there are many factors that can influence them in their purchasing journeys like positive reviews and feedbacks, good website speed, accurate price, and premium quality.