Persuasion is a key skill for marketers to master — not manipulation but honesty-based persuasion.
As Emma Snider writes for HubSpot:
“To sell something, you have to convince a buyer that they not only want your offering, they need it. To be clear, I’m not talking about fooling them into buying a piece of junk. Oftentimes, prospects stand to benefit considerably from purchasing a new product or service.”
“Most salespeople swear by personal persuasion tactics that ‘just work.’ But what does science have to say about it? After researching scientific studies on tactics that prompt people to act in a certain way, the folks at Everreach put together the infographic shown below. Instead of deciding which method of persuasion to use based on gut feel, salespeople can now consult the science before proceeding. So before your next meeting or call, think: Which of these six tactics would hold the most sway over this particular buyer? Adjust your approach accordingly and you’ll have them signing on the dotted line in no time. It’s not magic; it’s science.”
We know that many shoppers regularly look for discounts, and typically won’t make many discretionary purchases without them. But, there are also shoppers who often buy without looking for a sale. Through their access to big data, a growing number of firms are learning to better target their discounts.
As Shelly Banjo reports for the Wall Street Journal:
“There’s a growing gap in retailing between those who get discounts and those who don’t. Retailers such as Stage Stores Inc., which runs 880 department stores, including the Bealls and Goody’s chains, are starting to pare back the promotions by showing them only to customers who respond to price reductions. At the other end of the spectrum, Stage Stores has shoppers who are more interested in nabbing the newest styles in shoes and handbags than in sniffing out bargains. Stage Stores rarely advertises clearance sales to them.”
“After years of collecting data, retailers have gotten savvier about how to use it. They are trying to maximize full-price sales to fatten profit margins, while using discounts to clear aging inventory and persuade reluctant shoppers to part with their cash. A fifth of online shoppers are considered true ‘discount junkies,’ people who make purchases only when plied with discounts, according to new data from AgilOne Inc., which works with 150 retailers to analyze customers’ purchases and predict their behavior. About 15% of shoppers generally pay full price for items and don’t bother searching for sales.”
Click the image to read more of Banjo’s story.
Shoppers such as these at Nordstrom Rack in Schaumburg, Illinois, look for bargains. However, discounts don’t excite all shoppers. Photo: Nam Y. Huh/Associated Press
As we have noted before, customer personalization is an important tactic for marketers — both online and offline.
Recently, Neustar (a data-driven intelligence firm) published an interesting report on personalized marketing:
“Customers expect it. Technology enables it. Brands who can deliver it are generating huge increases in ROI. Personalization has gone way beyond simply adding a customer’s name to a communication. Customers increasingly expect highly relevant content in the right channel at the right time, whether they’re on a brand’s Web site, a social network, or in their E-mail inbox. For brands, delivering this one-to-one experience at scale – to thousands, or hundreds of thousands of prospects and current customers – requires leveraging sophisticated data sets, processes, and platforms.”
“It’s no surprise that many marketers are struggling. In a recent survey by Digiday and Neustar of 100 digital media and marketing executives, more than half (53%) reported ‘always’ or ‘often’ struggling to personalize their marketing at scale. Marketers know they need to make their marketing personal, but aren’t sure how to do it at a scale that makes it cost-efficient. The challenges include data quality, difficulty of activation across online and offline channels, and a lack of understanding of the components of the process. [Our] A–Z deals with the latter.”
Click the image to download Neustar’s report.