This is a guest post by Sandro Lonardi who is the SEO Analyst at Sense of Nature, the manufacturer of the famous silk duvets brand NordicComfort.
The following 4 impulse factors are the key elements to greatly increase your sales conversions.
Apply these to your point of sale display to increase the number of products sold.
Fear of Loss
When you’re running a special promotion, display only a few items per row so that your customers see that there are not many products left and that they may miss out. The fear of losing the opportunity to take a great deal will push them to buy.
Taking an action by following someone else’s lead is easier than doing it first. Why not add the number of people who already bought that product to your POS display? This sends a message that if “other people are buying it and it’s good for them it must be good for me, too”.
You can display the previous price of a product in big numbers. This shows how it compares to the current one and prominently displays how much people save. Almost everyone is somewhat motivated by greed and will find it hard to ignore a really great offer.
Sense of Urgency
Add a label that indicates how long the offer is valid. If you don’t display any ending date people will think they can get the offer next time they come to your store, but if you make it clear there is a deadline for claiming the offer and it is valid only for the next 3 days they have to purchase straight away.
Increasing Impulse Purchases
Driving your sales figures up is a matter of figuring out the needs and fears that drive your customers’ behavior. If you offer the right product, blending these 4 impulse factors effectively will surely see your sales growing.