What Consumers Look for in Facebook Fan Pages

Try beating my level of discount! Take that!

Social networking sites are now the top sites where people spend the most time on, followed by online games and email. Many brands have set up their very own fan pages with activities, contests and brand information. But what are customers looking for in these brand fan pages? Here are the top 3 wants:

1) Discounts and promotions.

2) Purchase information or direct purchase.

3) Product reviews and ranking.

Decision Making by Consumers

I have just read finished the book ‘Predictably Irrational’ by Dan Ariely. A fantastic book that talks about how we are often irrational in decision making. The other worse thing is that we assumed that we are rational in decision making, until we are exposed by Dan Ariely.

Take for example supply and demand, and how they determine prices. Textbooks have the term willingness to pay, meaning how much consumers will pay for your goods. However, consumers don’t really understand their preference well, and this affects their judgement on prices. Marketing and advertising is able to manipulate the mind of consumers on how much a product is perceived to be worth. This means that manufacturers can often manipulate consumers’ willingness to pay.

The power of FREE is stronger than most of us think it actually is. A FREE credit card (with no annual fees) but high interest rates is more attractive than a credit card with far lower interest rates but with annual fees. Go figure.

For money or for moral good? The moral good motivation is far nobler and stronger. Take for instance education. Teach them about the world, feeding the hungry, going to the moon, and kids will want to learn for nobler reasons. Tell them which jobs earn higher salaries, and you get Gordon Gecko type of graduates.

The power of information in marketing: Consumers often get placebo effects from using certain products. If you provide information about how the product is very powerful, tested effective and useful, the consumers will feel much better using your products. Compared to similar products with less information, your product will be above the rest.

Understanding Women Consumers 2

Some marketers work to relief women’s guilt with regards to how they live their lives. KFC introduced salad meals, so that mothers can opt for this ‘healthier’ meal while their kids gorge on the fried chicken. Smuckers Frozen Peanut Butter and Jam sandwich is a hit with moms, as it makes kids’ meal preparations easier. Motts for Tots make juices healthier by adding fortified vitamins to them, and diluting the sugar content, making it better for the kids.

As women age, they claim that they are happy with how they are. But deep down they want to look sexy and young, just like when they were 30 years old.

Some women like to keep secrets to protect her ego. Getting her to reveal her ‘secrets’ often involves her group of best friends to prod her on.

One good example of her ego at work is when she’s asked to select between Wal Mart and Target for her preferred shopping venue. Most women will answer Target, as it elevates her status, and makes her more trendy and fashionable. However, the truth is that more women are shopping at Wal Mart than ever. Wal Mart gives her more value, and helps her save. But Wal Mart is known as the ‘cheaper’ place. Saying ‘Target’ as the preferred venue is the ‘cool’ choice.

Understanding Women Consumers 1

Ask consumers what do they really, really, really want to tell the company behind the brand or product.

Women tried really hard to stick to their promises, but sometimes they miss the mark. They are not perfect. E.g. does she really follow all the steps of your beauty regime? Does she really use sunscreen everyday?

You can really help her to keep her ‘promises’ by making her life easier. E.g. 2 in 1 products really helped her to save time. Products that act fast helps her reach her ‘destination’ faster. Products that stay on longer helps her to save time by reducing re-applications. SPF in her moisturizer helps her by not requiring her to add on an extra layer of sunscreen.

Understanding How Consumers Think 2

What is personal may be more universal than you think. I use to think that only I feel a certain way towards something, which I thought was very personal. Or that I have some habits that are very personal, that I thought must be quite unique and weird. Hey, hey, hey, I found out that quite a few of my friends share the same thoughts and habits as I do. So your consumers may actually share a lot more commonalities than differences.

Instead of positioning your brand as part of your target audiences’ lives, try another angle. This time position your brand as a new lifestyle or image that your consumers can aspire to.

Try asking them what the brand thinks about them. Most often we ask consumers what their opinions are about our brands, but go from another perspective. This will allow us to see the brand’s relationship with the consumer. It will also allow us to understand how the consumers view themselves for better profiling.

Getting Consumers Sensually

Consumers want to test out the products before they buy, especially if the products are complicated or expensive.  New food brands will have to get consumers to try them before consumers can be convinced that they taste better.  Give consumers samples to try out in the store before buying.

Statistics have shown that half the purchase decisions are made in the store itself.  TV ads are viewed with much skepticism nowadays, and will TV loaded by so many commercials, consumers may just miss your advertisements.

To stand out form other brands in store, glorify the country of origin if the product comes from an admired country.  Ensure that consumers know it comes from France, Germany or Japan, for example.  Then put beautiful merchandising and signs to glorify the products.  If your product has a good sounding name, you have a great chance of success.

Signs need to call out to consumers sensually.  Have them emit blinking lights, changing colors, emit scents or sounds.  If you put such signs at gondola ends or floorstands, you will get about six times more consumers noticing them.

One way to help consumers make decisions faster is to give them lists of product bestsellers.  Consumers like to know what other consumers are buying, so listing bestsellers will help them to make purchase decisions easier.  It’s social proof that certain products work better, that’s why more people are buying them.  This is especially important for first timers to the category, or a category overwhelmed by too many products.