Why do people buy online? It's a classic marketing question, because if you can figure out the riddle you can try and create a program that causes people to buy. That it is the main reason marketing exists, you want to cause sales. All the stats about brand awareness, brand recall or brand engagement are merely old and indirect methods to try and quantify the likelihood of purchase and figure out why do people buy?. However, now we can actually measure marketing much more efficiently and can report why people buy online and make a purchasing decision.
They come down to six core reasons:
- Scarcity - We assign greater value to sources that are becoming less available.
- Popularity - If everyone's doing it...
- Social Proof - If you are unsure, what do your friends think?
- Authority - People look to influencers to see if the product is good enough. Can you say Oprah's favorite things?
- Consistency - People tend to choose once and stick with a brand. For example, we always drive a Honda.
- Reciprocity - If you scratch my back, I'll scratch yours...if you give me something for free, I may purchase from you later?
If you look at the above stats, there some things that boil down in terms of social commerce. The opinions of your friends will matter in your purchase and once people make a decision, they tend to keep it. So as you market, it's much more important to ensure you use these tactics and get the client and customer as soon as possible. Word of mouth marketing is still popular. It's just called Facebook and Twitter.
Check out the cool infographic below from TabJuice.com for some stats on each reason:
Courtesy of Tab Juice.