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Anirudh Gupta
CA Aspirant|Content ... • 1m
𝐏𝐚𝐫𝐚𝐝𝐨𝐱 𝐨𝐟 𝐜𝐡𝐨𝐢𝐜𝐞𝐬=𝐋𝐨𝐬𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬 Imagine you want to order food or watch a movie in a platform you like. Once you open to surf through what is available you are bombarded with too many options. You spend hours and hours but couldn't arrive at one option to choose. This phenomena is called the paradox of choices which explains that 📌 When there are more options to choose 📌 It requires huge efforts for consumers to make a choice 📌 Which may cause dissatisfaction over the choices they have made and decision fatigue. When consumers are affected due to this phenomena they end up not buying any product that you may offer. Unhappy customers are a no-no for those who want to achieve profitability. If our customer is unhappy: Our sales 📉 our competitor sales 📈. What do you need to do? 📌 Offer limited models in the products you offer. 📌 Provide categories such as best seller,top picks etc. 📌 Track your customer behaviour based on his previous purchases. 📌 Provide assistance to customers who have distinct preferences. 📌 Provide "Recommended options" for "it's my first time" type of customers. 📌 Make the decision process smoother by indicating the purpose of your products clearly. Example : Medial has many features to utilise but you have to pay a price for that. They classified their features into premium, premium plus and premium jobs.Thus making it easy for mediallers to understand what they are being offered. Netflix added features like “Top Picks” and “Play Something” to guide choices. Sun-tzu said to confuse your enemy you need to confuse yourself. But your customers are not enemies,so don't confuse yourselves and them as well😂👍🏻 Follow Anirudh Gupta for more such posts.
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