Catching feelings: How emotions can drive your sales
A new study has revealed the most effective emotions to evoke to drive sales. The study was carried out by Product of the Year, the UK’s largest survey of product innovation, polling some 8,000 people, in a bid to better understand the motivations and emotions behind buying decisions.
And the number one emotion that motivates buyers, is value. In fact, over half (55%) ranked value, that is both providing value for money but also making your customers feel valued, as the key emotion that will sway them to choose one supplier over another.
For over a quarter of responders, loyalty (26%) followed by ethical (20%) and, even, ‘love’ (19%), were the best emotions a business could create when they were being considered as a potential supplier.
Trust and endorsement are key elements of emotional decision-making to 14%. All ecommerce businesses know how important those reviews and rankings are to sales.
The buying power of emotions
So just why do emotions play such a critical role in swaying purchasers?
Research shows that even though most companies believe they are making objective and rational decisions, the sheer speed of our emotions and instinct, can take precedence.
It’s what many call a ‘gut reaction’ – and when there’s a choice of suppliers – emotions can make all the difference.
In fact, a recent in-depth analysis into how emotions influence purchasing found our emotional reactions are a staggering 3,000 times quicker than rational thought.
What’s more the emotional parts of the brain process sensory input 5x faster than rational thought and has defined the difference of the power of persuasion between emotion and reason as a ratio of 24:1.
So, purchasers are 24x more likely to choose your company if you appeal to them on an emotional level rather than simply furnishing the bare facts associated with a product or service.
This is even proven by our physical reactions, with brain scans revealing that when choosing brands, buyers rely on their senses such as touch and taste.
In another study, it was found that nearly two-thirds of us (62%) have made an impulse purchase in the last 6 months. Services focused on convenience, expedited delivery and a frictionless buying experience are key ways to target impulse buyers.
It’s time to get emotional with your marketing if you want to attract and retain customers and grow your business.
New research reveals the top emotions shoppers feel when buying products and FMCG trends Retail Times
How emotions influence purchasing behaviour Adcock Solutions
Key findings of our emotional shipping experiences research parcelLab