What influences consumer purchase decisions?

For any business looking to scale, generating more sales is the order of the day. However, that can be easier said than done. One way which you can ensure that sales growth is on the cards is by becoming more familiar with your customers.

Understanding exactly what triggers their purchase decisions, and therefore what ultimately convinces them to pull out their credit card, can help you hone your sales and marketing to the point where you’re giving consumers all the information they need, as they need it.

Knowing what factors weigh most heavily on decision making also means that you can align your messaging and offerings around those considerations, overcoming objections and allying fears before they ever threaten to turn a potential sale into a lost opportunity. The latest Global Insights Consumer Pulse by PWC has lots of insight to begin your journey along this road.

The majority of purchase decisions begin with a search engine

Over 5 in 10 consumers begin their search for product and service information with a search engine. Consistently named as the best source of information prior to making a purchase, it’s clear that you’ll need a strong search presence to be in the running for a sale.

But other resources are also used

Search engines aren’t the only source of pre-purchase information cited as important to consumers, however. Your own website also plays a key role, with 32% of consumers heading to your site to read customer reviews.

For younger generations, social media is also a top place to conduct research, with Facebook and TikTok particularly popular.

While 31% of all consumers on average are receptive to marketing via social networks, that figure is much higher – 46% – amongst Gen Z.

With this in mind, you should aim to make your social accounts as informative and helpful as possible. Aim to share information which can aid in the decision making process. Content such as video demonstrations, product comparisons and image arrays should be a given but re-sharing user generated content reviewing your products is also advisable.

Chatbots can help customers on the path to purchase

If your brand website doesn’t yet offer an AI chatbot assistant, 2024 could be the year to embrace that trend. Chatbots can perform a customer service function – and today’s consumers are increasingly open to engaging with them. Almost half (44%) of consumers say they are open to using chatbots to help find pre-purchase information, while 35% would use them for customer service and 34% to access deals and promotions.

Of course, those figures are likely higher amongst younger, digital native generations. This is an interesting development for retailers, as chatbots can provide round the clock support and now, play an active part in moving shoppers a step closer to making a purchase.

Invest in your brand’s onsite experience

Most consumers declare themselves happy to buy from the retailer’s own website. In fact, 63% of consumers say they have previously ordered directly from a brand website, especially for items such as clothing and electronics.

For brands, this represents a huge opportunity. It’s a chance to nurture direct relationships with your consumers, control the entire user experience and cut out potentially costly commissions to third parties. It also means you’re in control of upselling, can gather valuable analytic information around shopping habits (vital in a post-cookie world) and remarket directly to shoppers.

Growth Agency is here to help your business grow. If you’d like to lean more about leveraging this information to scale your business, get in touch today.

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