With the surge in online marketplaces, buyers now have many options to choose from when they shop online.
For an eCommerce business to thrive in this age of formidable business competition, handling buyer hesitations and motivating them to make a purchase is crucial. The fickle focus span makes it hard for buyers to only travel through the sales funnel out of pure interest.
Therefore, merchants should exercise efficient eCommerce tactics to gently push the buyers to speed up their purchases by rewarding them with amazing deals, discounts, and offers.
By creating a sense of time-bound urgency with unique offers, merchants can quickly motivate their leads to complete their purchases. This sense of achievement in the buyer’s psyche for purchasing at the right time can bring higher conversions for an eCommerce business.
Let’s walk through some of the most effective tactics merchants can adopt to improve buyer motivation significantly.
Top Tactics to Create Urgency Amongst Buyers
Creating a sense of urgency can help merchants drive sales through impulse purchases from buyers otherwise contemplating their purchase. Reduced cart abandonment rates and improved website traffic are some of the merits of implementing urgency tactics.
For this, merchants must create and implement market-specific urgency strategies suitable for their business. Below is a detailed list of some of the general time-bound tactics that can aid merchants in improving their buyer motivation:
Some of the general, time-bound tactics to improve buyer motivation include:
Creating time-bound offers and discounts for products is by far the most effective tactic to improve buyer motivation. With time-bound discount emails and notifications, merchants can prompt the buyers, who have products in their cart or their favorite list, to purchase. Further, it can successfully create urgency amongst the buyers to improve conversions during peak seasons.
Scarce Product Availability
To increase purchase and demand in an online business, creating scarcity can be a great strategy. For this, showcasing the remaining stock on the product-listing page -along with the number of people holding the product in their cart or viewing it – can significantly accentuate conversion. In addition, this will motivate the buyers to quickly complete their purchase in fear of the stock running out.
Potential Price Hike
Everyone loves to enjoy good-quality merchandise at affordable rates. Therefore, the possibility of a price hike on a particular product after a certain time can motivate the buyers to make a quick purchase. On the other hand, the last thing a buyer wants is to spend more on the same product late.
A discount offer with a time limit after which there could be an increase in the price can serve as a great buyer motivation. It creates a sense of urgency amongst the buyers to grab the product at a cheaper rate, thereby increasing your store’s conversions.
Fear Of Missing Out (FOMO)
In today’s technology-driven age, everyone prefers to stay abreast of the latest topics and trends. In addition, merchants can use buyers’ fascination for trendy products to create a sense of necessity for a particular product.
For this, merchants can notify users about the number of people looking at the product, have already purchased it, or have it in their cart. They can use a custom countdown timer app to achieve this.
Limited-Period Email Offers for Abandoned Carts
Special and personalized time-bound discounts on products in an abandoned cart can be a great way to bring back buyers. In addition, a personalized offer on a product the buyer is contemplating can trigger buyer motivation to complete the pending purchase.
Sales About to End Reminders
Limited-period offers can be a great way for merchants to create a sense of urgency. For this, merchants can push emails and mobile notifications to the buyers before the end of a sale. This will prompt the buyers to make quick purchases, thereby leading you to an increased conversion rate.
Set Deadlines for Promotional Offers
Providing time-bound offers can motivate the buyers to take immediate action. This is especially true in the case of promotions. With time-bound offers and discount codes in promotion, merchants can motivate buyers to make an impulse purchase.
This can help merchants increase sales on their online store and eventually generate more revenue.
The Goal Behind Creating Urgency
When implemented efficiently, urgency tactics can drive sales for a merchant. However, the intent behind such tactics should not focus on rushing the buyers towards purchasing as it can lead to wrong purchases and increase the Return to Origin rate.
An increased refund rate can eventually hamper the growth and success of an online store. Therefore, urgency tactics must be implemented in a controlled manner to enhance the buyers’ motivation to invest their time in your store and make a quick purchase.
In a nutshell, the application of time-bound offers should never dismantle your store’s user experience. The users should have complete transparency during the buying process. For this, showcasing the correct discount price, shipping rates, and valid discount codes to the buyers is a must.
To Wrap Up
The application of proper urgency tactics can help merchants improve the conversion rate of their online store. The key to implementing such tactics successfully is to provide offers and discounts in a well-planned and time-bound manner. This creates a sense of urgency amongst the buyers and motivates them to make a purchase.
Besides, online store owners must regularly monitor the audience’s reaction to applied tactics and fine-tune their approach accordingly. For example, merchants can easily reduce the cart abandonment rate and increase sales with business-specific urgency tactics.