The Psychology Behind Successful Businesses

Entrepreneurs could compare two businesses working within a block of one another and see stark differences. Patrons could be lined up outside of one business while another company waits on a single customer, for example. Consumers have many product and service choices in the marketplace, so it’s not just high quality that pulls patrons in the storefront door. Businesses must use basic psychology to entice customers and make them loyal patrons.

Climbing Up to Business Success for Young Owners
Image credit: Calita Kabir –

Branding the Company

All businesses need a personality to be attractive among consumers. For example, a juicing store could have an animated carrot as their mascot. This friendly carrot might be added to advertising to explain the latest drinks and specials, for example. This branding tells consumers the juicing company is dedicated to health with some humor along the way. Each business is unique, so branding must reflect specific emotions evoked from that niche.

Making it Personal

Use social media to personalize business-client relationships. As customers follow or like a business through social media, for example, conversation opportunities arise. Businesses must consistently comment and answer questions through social media to make consumers feel valued. Even send out online coupons geared toward that person’s interests. Any intimate business connections encourage consumers to choose one company over another when products or services are required.

Success is in the Details

Businesses could work hard to bring consumers in the storefront door, but they’re immediately turned off by product or service complexities. Consumers need simplicity with their purchase transactions. For example, a restaurant with 50 menu items only makes the selection process difficult instead of diverse. Simplify product choices and services to ease consumers’ minds. They’ll respond to quality products and services by returning again because the business excels at their particular niche.

Critical Presentation

Image is a critical factor to control, so businesses must have employees that exude hospitality and comfort. Restaurant hostesses, for example, must welcome each customer with warmth and a smile. Each table should be neatly set too. Even food presentation must be perfected, giving diners a show for their business. Consumers who feel valued and receive value for their investment will return to the business as loyal patrons.

Limited Availability Strategies

Ideally, businesses must be available to their patrons almost every day of the week. However, some businesses actually shine brighter with limited availability. For example, a restaurant may only open at 5PM for five days a week. They’ll remain open until supplies run out. In these niche businesses, consumers perceive the product and service as limited and valuable. They’ll make it a point to visit these businesses as long as the final product is high quality. Businesses must analyze their customer base to see how their operational hours affect profit margins.

Struggling businesses often turn to professional coaches, such as Marshall Goldsmith or Donald Burns, to boost sagging sales. It’s critical for businesses to be open-minded about coaching suggestions, however. Although some ideas may seem radical, these professionals know what makes consumers tick. Profits are possible with smart psychology uses and traditional customer service.

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