5 Critical Factors Affecting Buying Behaviour

Buying onlineOne important part of marketing is understanding what or who are influencing your customers.

Especially when it comes to buying decisions.

The reason it is important is it can affect your marketing strategy regarding how you are going to grow your business.

There can be many influencing factors and I will forgo the obvious ones of friends, peers, family and their influence with regards to referrals.

Here are five factors that can affect your customers’ buying behaviour:

 

Your Business

When customers are making buying decisions they look at what your business offers as well as your competitors.

If they have a real problem increasingly they will look at businesses that are specialists.

The reason why is they perceive a specialist company will have greater knowledge and expertise. And the products or services will be better than from companies that are generalists. The interesting thing is customers know they will pay a premium and are happy to do so.

This is especially important when you face tough competition and want more customers for your business.

External Factors

I call them external because they are the ones that you have no say in, but can directly affect buying decisions.

An example is when governments bring down budgets.

If there are tax increases then these can mean your customers may not have the money to spend that they did before.  It has nothing to do with you or your business.

Keeping track of the key market trends that affect your business can help in this area.

Simplicity

Today customers are seeking simplicity when buying products or services. The reason why is lack of time and stress. They have many things going on in their lives and too many choices when buying.

This causes them stress.

If you can simplify their choices for them they will reward you. This may be what you offer, your pricing options, service delivery etc. What you will find if you can simplify then you will find your business will reduce time and costs and get more customers.

Opinion Leaders

The influence of opinion leaders has been around for a long time.  And now opinion leaders from other countries can now have an influence on your customers in your country.

One point to note is be sure to identify opinion leaders who are relevant to your market and customers and why they are relevant.

A common mistake is automatically thinking the opinion leaders who influence you are also influencers of your customers.

They may not be and this can lead to you making the wrong marketing decisions if you automatically assume they do.

Online Opinion

As more customers’ buy products or services online and people review or talk about products or services, what is written or viewed or heard can influence your customers’ decisions.

Even if they ultimately purchase offline.

This can occur on social networking sites, comparison shopping sites and reviews for example. With online you do need to know which particular factors are the most important as again what influences you may not be important to your customers.

These are just four factors that could influence your customers’ buying behaviour. What others can you add to the list?

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16 Responses to 5 Critical Factors Affecting Buying Behaviour

  1. Varsha Kushwaha says:

    Hi,

    Can please tell me some environmental factors that influencing buyer behavior.

    Many thanks

    Have a great day ahead!

    Kindest Regards
    Varsha Kushwaha
    India

  2. Kashan says:

    Dear Susan,
    the above 4 factors are gr8 i would like to add 1 factor as well. in a market of 2 or 3 sellers and all of a sudden the 2 companies got shutdown due to some reason then the consumer will be force to buy the product which will be soled by the 1 company which is present at the time

    another factor might be the

  3. Rehan says:

    Hi Susan, all the factors you mentioned are correct. But I want know that how globalisation can impact the consumer buying behaviour in particular sector such as clothing in UK. What other external or internal factors are there should be recognize except governmental or competitor issue.

    • Susan Oakes says:

      I have to say I do not know the clothing industry in the UK so all I can suggest look at factors such as environmental, economic as a starting point.

  4. Susan Oakes says:

    Here is an example a mother looks to buy breakfast cereal. She wants to buy one that is healthy for the family to eat, however unless the children like to eat them it is useless buying them. So she will take into consideration what her family likes.

  5. Very interesting list, Susan. I totally agree. Personally, the friends and family influences works against me at times. Everyone thinks they’re a designer and so they steer their friend the wrong way when it comes to design. They respect their friends opinion, but they hired me to design for them so I should probably be the opinion most highly regarded since I do this for a living, but sometimes it isn’t. I don’t get this very often anymore, but every once in awhile it rears its ugly head. Lucky for me I can choose to continue working with them or not.
    Dennis Salvatier recently posted..Why You Shouldnt Call Yourself a FreelancerMy Profile

    • Susan Oakes says:

      Hi Dennis,

      I can understand that would be frustrating and I have heard other designers say the same. Glad it doesn’t happen very often.

  6. Delena Silverfox says:

    Hi Susan!

    You’re right on the money with this one, especially purchasing based on emotion. I agree with Julie. And I definitely can identify with the last factor you listed about friends’ recommendations.

    I’m extremely slow to buy things, but when I do, I remember everything my friends have said about a particular type of item I’m interested in and look at the ones they talk about first. Sometimes I won’t even consider something else if their recommendations are strong enough.

    Delena

    • Susan Oakes says:

      Hi Delena,

      You are very much like a friend of mine and I am a bit of the opposite. I think it also depends on what people are buying although referrals will always be important for small business.

      Thanks for your comment

  7. Hi my friend. It has been said that purchasing decisions – or not – are based on emotional triggers. With that said, your last 3 categories are right on the mark. Obviously, the first one is beyond all of our control. Your categories also lend credence to the fact that people like to do business with people they know or people people they know know (did that come out right? LOL). You know what I mean right? :)
    Julie Weishaar recently posted..Free or Me A Real Case StudyMy Profile

    • Susan Oakes says:

      Hello friend, brand purchasing decisions are based on emotional reasons ultimately. It came out right :)

  8. Agree with the factors you list Susan as well as what Jason says. They are all very important.

    Another factor is how content they are with the results they got when you did something for them. And that’s a tricky one since the results can have been diminished because of something they did and not the job you carried out for them. But most of them will blame it on you.

    • Susan Oakes says:

      Hi Catarina,

      That can be tricky especially for service businesses and repurchase of the service. One factor is their expectations and trying to manage them which can be difficult.

  9. Jason Kienbaum says:

    Awesome post Susan!

    One other thing I would add that can really affect a person buying decision is the customer service and support you offer. Making sure your customer can reach you on a medium that they feel most comfortable whether that’s by phone or on the web can make a big difference as to whether somebody buys from you or doesn’t.

    Jason

    • Susan Oakes says:

      Thanks Jason. That is a good point you brought up. I agree with you and will probably get only more important.