Latest News
Why Understanding Consumer Psychology Is Important to Your Sales Strategy As Shown By Dakota Burford
In a business landscape where virtually every category or niche is heavily saturated, today’s consumers have endless options when choosing which company to purchase from. A target audience of new moms may have 50 similar crib retailers vying for their attention and it’s this level of competition that is forcing businesses to think strategically when it comes to executing a sales plan.
While many businesses will spend their ad dollars simply highlighting the functions and features of a product, the companies that ultimately close a sale are relying on consumer psychology to drive revenue. Consumer psychology is the understanding of shoppers’ behaviors and the motivators behind their purchasing decisions. By collecting data through surveys, focus groups, social media polls, or results from various marketing campaigns, businesses can home in on specific influences.
“Understanding these insights will help companies form authentic connections with their target shopper, helping boost sales and customer loyalty,” says Dakota Burford, owner of Luxvoni Marketing. “As a marketer, my job is to spark interest, build relationships, and drive revenue. To do this successfully, I need to evaluate whether the product or service I’m supporting solves a problem, elicits an emotion, or enhances social identity, among other motivators.”
Focus On Desires
By focusing on consumer psychology, Burford and his team have helped more than 200 businesses, ranging from startups to Fortune 500 companies, design high-converting sales funnels. He encourages business owners, now more than ever, to take a deeper look into the desires of their customers. The COVID-19 pandemic has changed many shoppers’ behaviors, with more consumers placing emphasis on convenience and overall value. Retailers that don’t transform their sales strategy to align with this change may find a decrease in customer loyalty, which can heavily impact sales.
“I’m very passionate about the subject of consumer psychology. I’ve studied the topic extensively and am constantly reading books that dive into the modern psyche. I understand what makes consumers tick and I apply these learnings to every sale funnel I create,” says Burford. “Business owners have an opportunity to relate to customers on a deeper level by leveraging this strategy and I’m eager to show entrepreneurs how.”
Evaluate Behavior
This principle will continue to shape the world of commerce for the foreseeable future, so it’s important for business owners to sit down and evaluate consumer spending habits. Taking a look at changes or consistencies in behavior will only aid companies in their efforts to create a relevant and sustainable sales strategy.
For those looking for resources that clarify some of the intricacies involved in understanding consumer psychology, Burford and his team will be offering a course called Sale Ops Academy. The goal is to share the mind-hacking techniques that his team leverages to effectively influence and persuade. The course will include three levels of training, each providing a step-by-step blueprint, and is aimed at business owners who are struggling to scale their business or those with no sales background.
Harper Harrison is a reporter for The Hear UP. Harper got an internship at the NPR and worked as a reporter and producer. harper has also worked as a reporter for the Medium. Harper covers health and science for The Hear UP.
