Facebook is an integral part of the lives of many people around the globe. Whether it’s to connect with family, keep tabs on your friends’ latest activities or just general browsing, it’s a deeply ingrained part of life for many. With millions of active daily users, it’s no wonder that the amount of traffic on this social media platform has caught the attention of companies globally. In a strong position as a platform for visual marketing, Facebook has been a deeply profitable tool for business’ to showcase their products to the world.
However, in recent years, this trend has undergone an evolution. Instead of just connecting people to a particular product and then rerouting them to the specific company website, it’s now possible to directly order from the Facebook page itself. Paving the way for these changes are the millions of small and upcoming businesses that have started selling on Facebook. These ventures, which can be old and established brands or new-age startups, are now utilizing these resources to make their vision of an enterprise come true.
While many people in this day and age can consider themselves tech-savvy to a certain extent, not all success in online marketing and eCommerce industry is based on technical knowledge alone. Consumer behavior has always been an important factor that has to be taken into consideration when it comes to marketing. However, this applies to an even greater extent to online marketing, since the seller or company has no direct interaction with the end consumer or potential customer.
Facebook Business has eased the burden for people to start new ventures.
Hence, here are a few tips on how to improve your online store so that selling on Facebook garners your business the maximum profit by understanding consumer psychology in an efficient manner.
This is related to targeting the innate tendency of people to compare a product to a similar one. Often times, companies will list their products in increasing order of prices. This is so that consumers who might usually not buy a product compare them to the others on the list and be tempted to at least give it another look. Simply put, the best way to showcase a product that you want to promote or sell is to sandwich it between a lower and higher priced model of the same product. This will get the consumer to concentrate on the center product, that is, the product that was originally intended to be showcased or sold. It also centers the product on the page and highlights it in a potential customer’s eyes.
By offering a discount with the added condition of a time limit, people are generally drawn to the product. This is because it induces the feeling of wanting to possess something at a price that they may never get again, especially once the discount period is over. This is particularly useful for companies or businesses that usually don’t offer discounts, thus increasing the attractiveness of the price decline. While it doesn’t have to be often, having a few discount periods during the year can help make selling on Facebook a very attractive venture.
The Emotional Connection
Research in the phenomenon of ‘viral posts’ suggests that the major factor contributing to the sharing of such posts on social media is the audience’s emotional connection or reaction to it. Simply put, the higher the customer’s emotional reaction to a post, the higher the likelihood that your customer will give it a look or share it with their friends on social media. Not to mention, the people who see your posts will most often be those with the same taste as you. This will further ensure that your company gets even more publicity and traffic to your Facebook page.