The 3 Types of Consumers

/by

Web design is important. Surely, that’s a fundament component of a website. However, a beautiful website with an attractive design is not enough. You also need to consider how to entice people to buy your products. To create an effective website, applying the concepts of psychology is also helpful. Aside from web design, psychology will assist in converting mere passersby to actual buyers. You need to study how web visitors behave and how arrive at a decisive buying decision.

Woman Holding Card While Operating Silver Laptop

The 3 Types of Buyers

According to Tightwads and Spendthrifts by Scott I. Rick and Cynthia E. Cryder, the researchers have organized the typical consumers into 3 major groups: the average spenders, the tightwads, and the spendthrifts.

  • The average consumers are those right in the middle of it all. Below the usual buyers are the tightwads; they are those people who spend less than the average. On the opposite of the spectrum are the spendthrifts; they are the people who would spend more than the average. These consumers go on an unrestricted shopping spree.
  • The tightwads and the spendthrifts are on the opposite sides of a coin. Whatever the nature of your online business, I am certain that you will stumble upon consumers that are either tightwads or spendthrifts.

Which is harder to convince?

The short answer: the tightwads!

The long answer: the tightwads make up 1/4 of your entire web visitor list. So, you can’t just ignore these stingy customers. They will surely help in increasing website sales. Plan carefully on how to ease their naturally doubtful minds and lessen their worries.

You can successfully convert the tightwads by adding these 2 strategies to your web design:

  • Change the perspective.
    • If you see a product that has an astonishing price of $2,400 per year, you would certainly have second thoughts on buying it! After all, spending $2,400 each year could break your budget! That is an astronomical amount even for an average customer.
    • However, if you advertise that the price is just $200 a month, the product seems very economical and affordable now. People would definitely consider the product because $200 each month gives off the impression that the item is cheap.
    • Honestly, if you multiply $200 by 12 months, it is still $2,400 on a yearly basis. A monthly fee of $200 is more acceptable compared to $2,400. So, if you are selling something that is billed yearly, I suggest breaking it down into smaller amounts.
  • Word choices matter.
    • Adding a single word can make a huge impact. Let’s look at a study by Carnegie Mellon University; the researchers decided to change the product descriptions and see if there changes on how the web visitors interact with the website.
    • They started offering a trial program, and at first, the description indicated that “a $5 fee” was needed. When they decided to change the description to “a small $5 fee,” the page clicks soared and the the user engagements went up to 20%.
    • This research proved the importance of your words. So, think carefully of what words you will use on your website because a minor change can bring about huge consequences to your online business.