At an event organised by Reading Room, Deborah Ko, behavioral psychologist at Reading Room, presented four steps on how to increase a brand’s conversions.
Recognising the importance of conversions as a metric for marketers, Ko shared ways on how to set up an ideal path to purchase model in targeting a millennial. She analogises that marketing to millennials in particular, is much like strategising a successful relationship with them. Here are the four tips for brands to take note:
Step 1: What interests them and how can you fit in?
Since millennials are the most digitally connected consumers, it is imperative to understand a millennial’s perspective and be aware of the real decision factors at hand.
Brands should offer functional and informational knowledge while at the same time provide content that is emotionally appeals to the minds of their consumer. Brands should ensure that all of the consumer’s psychological needs are met when faced with choices and decision-making stages in his or her purchasing path.
Brands need to be discerning and find out about the consumer’s drives and where they go for informational knowledge. Researching the type of blogs and key opinion leaders on social media is key to understanding the consumer’s preferences. Thus, a brand’s marketing and communications strategy can focus on key brand attributes that intersects with the consumer’s desires while ensuring that the path to purchase model aligns with brand personality at all touchpoints.
Step 2: How do they make decisions?
A consumer is more likely to convert when a brand can provide assurance and confidence at weak points in the consumer’s journey for them to make manageable choices.
Ko cited examples from hoteliers’ selling point beyond their hotels in targeting to millennials. Apparently, millennials tend to choose the vacation spots that are “Instagram-worthy”. Aside from capitalising on their prime locations, hoteliers that have marketed more successfully take into account the leisure and travel needs of holiday-goers. Hoteliers’ assistance in the consumer’s travel planning stages can help initiate conversion as this provides value for the consumer.
Step 3: Strengthen your brand presence
Similar to a follow-up date, the consumer decides if the brand is worth their time and money based on observations and consumer reviews. For this reason, brands need to be consistent in the way they convey their products and services. There needs to be a strong brand presence among the consumer’s peers who can share their personal experience using the brand. However, Ko also cautioned that brands should remain relevant by being more content-led and not simply jump on any new digital or social media opportunity to market itself.
Step 4: Set up mini-conversions
Lastly, Ko recommended that brands set up mini-conversions. Brands need to recognise that information needs change throughout the journey and therefore, be prepared to tailor their communications accordingly in order to successfully convert the consumer. According to Ko, a series of consistent conversions is ideal for any brand.