What’s in a name?
Some call it behavioural economics (OK if you’re from the US), but we like to call it behavioural science. It draws from several different fields and theories, but primarily those of the ‘ologies’; psychology, sociology (social neuroscience) and anthropology.
Wow, that sounds frightening. Fear not – try this. It’s all about understanding customer’s behaviour and how this influences their decision making at point of sale. Ah, now that’s more like the kind of thing a sales and marketing director wants to hear (and something he or she can go to the exec with); How can I get my customers to spend more by understanding what makes them tick? We’re going to try to tackle the rest of this page using a little jargon and lots of logic.
Discovering what makes them tick
When you question a customer about what they need – you always get back a varied number of answers. If you ask them what their pain is – now that’s something different. Let’s remember that we are dealing with people, not just customers. These people have biases and perceptions that are often formed through a lens of their own experience. So, going about their daily lives, they will have a good idea what irks them (their pain) but it might be hard for them to find, or even conceive, a solution (their needs).
Confusing pain with needs
It’s easy to mix up pain with needs. If you’re a spirited runner and have a nasty blister (the pain) – what you need is better fitting running shoes or a great big blister plaster. The blister is causing you pain, as you can’t run unless you sort it, but there are options here - a £100 for the latest ‘go to shoe’ or £3.99 at Boots for a pack of plasters. Even then there are lots of other options and decision making points that are influenced by biases and perceptions.
How we do it?
Understanding the buying habits of your customers is the start of the process. What is their pain, what are their biases and perceptions of your brand? When do they buy? When they need to? Would it be as a treat? What else is sneaking onto their radar? Thanks to the advent of smartphones – the usual ‘moments of truth’ in a customer’s purchasing cycle can be disrupted by louder voices – causing them to change their decision to another, more alluring, brand.
Understanding YOUR pain
So, all you need to do is understand what your selling, to who and with the who – the why. Easy, isn’t it? We’ve been helping our clients to understand the science behind their customer’s decision making processes and how to get them to spend more, engage more frequently and to build brand loyalty and advocacy.
Blending the science with the arts
What makes us truly unique as an agency, is how we take this thinking and add the sizzle through our creative treatment. Your customers, when considering purchasing, use two different systems. Firstly, the reflective system; how much does it cost? Can I afford it? Do I really need it? This is used alongside the automatic system; Wow, I want one of those. The latter usually involves little reflection. It’s driven by the heart. It’s full of passion and emotion. So, you can probably see that we need to give both a decent amount of love to ensure that we appeal to whatever’s driving that particular purchase. Our creative and Bsc teams work closely in the strategic stages of a project to ensure that we really do recognise all the factors that affect customer decision making. And that, in the words of Paul Daniels (not Phil Daniels), is magic!