Nowadays, our lives are filled with choices. From groceries to designer jewelry, everything has multiple choices available. Traditionally, to us it has always been ‘more the merrier’. Life’s been such a cake walk with millions of options readily available. It also leaves you a feeling of being empowered.
In spite of all the choices available to the mankind, people are seen throwing up their hands in despair and walk away making the only choice they can, which is no choice at all. Have you ever clicked through hundreds of online shopping portals for over an hour and left the couch not having chosen anything? This explains endless option aversion working at its best.
Choice architecture can be a simple and effective way to approach your sales & marketing strategy as stated in Behavioral Economics.
7 Influencer Strategies: Putting the “Ch” in Choice
Cheer: Too many warnings, notices, disclaimers and hoops can make the consumer choosing a product or goal wildly unpleasant. Cheer your audience by leveraging on the fact that people tend to misjudge the positive (and negative) impact of their choices.
Champion: Do looks matter? Many people make choices based on how a service or product is presented as compared to other options. Positioning the product too is a key. Ensure to champion your product by aligning it with those that make choosing yours, a ‘no-brainer’.
Change: Retrospection is highly essential. Analyze and audit how your product or service is obtainable. Criticize the promotion and approach of your selling points and incentive structure by changing copy at its utmost positivity.
Chill: Don’t we all like things as they were kept last? Many people want to keep things as they are — change can be an adaptability issue with many. Add ons and build ups shouldn’t vary too much to make your customers feel that nothing new has changed.
Choosy: What would the consumers associate your product or service with? Be a consumer of your products for a day and take a survey of how your products are being associated. Being choosy about where your services can be purchased can make a huge difference in your bottom line.
Chatter: Stay up-to-date with the conversations occurring in your target market by both your customers and your sales staff. Aim for the areas your product has relevance and constantly revive how your sales team can offer them effectively.
Chance: Chances occur only once and your consumers need to feel exactly so. Generate offers, sales incentives, deals and interactive promotions that give consumers and sales people the chance to feel like a winner.
These 7 “Ch’s” of Choice Architecture for sales and marketing will help you formulate a money-spinning sales strategy. Keep them handy to run through the list when new products are being developed, strategies are being assessed or if sales need a boost.