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Achieve promotion success in China by knowing your customer mentality
Source: | Author:QS | Publish time: 2021-12-28 | 95 Views | Share:


Undoubtedly, the ultimate purpose of online promotion is to acquire conversions. Under such circumstances, brands often hold events to show their products’ popularity or offer discounts to attract customers. These are common ways to enhance customers’ impression of a brand. Therefore, to maximize the performance of your next online promotion campaign, we suggest adopting the following strategies to advance your customers’ impression of your brand. 


I. Scarcity effect

The scarcity effect creates a feeling for your customers that there is a limited offer for your product or service, thereby creating a sense of urgency in your customers, as the offer will only be around for a scarce period of time. Users are more likely to want to acquire the targeted object, as the object becomes harder to acquire.


In our daily life, we often face situations where the price of targeted products have risen because of short supply. This situation is a typical example of the scarcity effect.

1. Limited time:

1) The time limit of acquiring a coupon.

 


2) Seasonal events such as 6.18 and Double 11 events.

 


3) The time limit of accessing a specific piece of content.

 


2. Limited quantity:

1) Informing users the product is limited in supply, and buying it as soon as possible.

 


2) Stating each customer is only allowed to buy a maximum of 1-2 pieces of your product, to evoke a sense that the product is popular. 

 


II. Herd effect

The herd effect refers to an individual being influenced by the response of others, when deciding on their final choice/purchase option.


Receiving endorsements from current users can help prove and verify the quality of your product and service, which is more influential than an advertising slogan. For instance, the advertising slogan of a beverage product might be “The annual sales of the product can circle the earth once" and “Leading sales for XX consecutive years". 


However, users might question the trustworthiness of such slogans, as statistics might be exaggerated to appear more appealing to the masses. Instead, suppose advertisements include references to endorsements from other users and or mention relevant user statistics. In that case, new users might be attracted by the product’s popularity, and purchase the target product owing to influence by the herd effect.  


For example, in the photograph below, potential users might be enticed by the statistic that there are over 200,000 users registering daily. 

 


III. Loss aversion

Consumers are easily attracted by products with free or discounted prices, as people do not like to lose anything. When purchasing a product, if the quality of the actual received product does not align with the users’ expectations, they might feel that they made a loss in purchasing the product. In contrast, this potential risk would not happen if receiving free products. Therefore, consumers can prevent chances of loss, when acquiring free products.


Thus, many brands offer bundle sales of paid products and free products together, in hopes of increasing the willingness of consumers to purchase their products in the future.

 


IV. Anchoring effect

The anchoring effect determines the value of a product, with reference to another item. When users cannot determine the value of a product directly, they usually tend to refer to another product with which they are more familiar with, to gauge the worth of the target product. We suggest brands provide a reference item for users in promotional materials, and enlarge the advantages and value of your products to increase the willingness of consumers to pay for your products.

 

Suning.com claimed the price of their goods would be at least 10% lower than JD.com during their 6.18 promotion.

 

Master Kong promoted their new product with the reference item "100℃", creating a sense of health to consumers.


As such, the reference item in your advertisement should be as intuitive as possible to boost the satisfaction of your consumers.


For more online promotion tips to adopt to increase your conversion lead, contact our marketing consultant at enquiry@so360.hk for more advice. 


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