In the field of eCommerce, customer hesitation is a major deterrent to high conversions. Today, with the convenience of shopping from home and the availability of multiple sites, customers can afford to take more time before making a decision. They might research and deliberate purchases over several days before converting.
As a result, that one item might just be ‘sitting in the cart’ for days, or your customers might be ‘still thinking about it’!
Most brands rarely try to eliminate this hesitancy. So what is it that high converting brands do differently? They employ ‘urgency tactics’ on their website, by understanding their customer’s psychology.
Creating a sense of urgency helps to fasten up the purchasing process and increase chances of impulse buys. It also motivates those already contemplating, to buy before they miss out. When employed effectively, urgency tactics can substantially create demand from thin air.
In this edition of the blog, we discuss key ways to drive urgency on your website for better conversions.
- Time-limit: Informing the audience about a certain time period to avail an offer/deal/discount is the most simple yet effective way of creating a sense of urgency.
- Potential price increase: Consumers are more likely to purchase today if they fear paying more tomorrow. Therefore, showcasing a potential price increase in the future helps to encourage immediate purchases.
- Sales going to end: Holding sales for a limited time and actively promoting these amongst the customers is another way of creating urgency.
- Limited and exclusive inventory: If the shoppers believe that the inventory is limited and the product might be out of stock soon, then this drives them to take quick action.
- Fear of missing out (FOMO): This is proven to be the most effective way of creating a sense of urgency and pressure amongst the customers. When the consumers believe that they are left-out from rewarding experiences that others might be having, it makes them more likely to take action.
A good tactic is to use a combination of these elements together on your website, rather than employing each element alone. Following are some of the key strategies to utilize these: