“Dad! Everyone in my class has a bicycle! Why don’t you buy me one?”
Heard of a similar dialogue before?
Ever since generations, people are used to being influenced by those around them. It’s like when a group of people come up with an opinion, even that one person who doesn’t agree might feel like they need to agree because it’s the popular opinion.
Just like, for example, when kids at their younger age see all their friends having their fathers buy them cycles, and feel that it would only be cool if they had one too.
Fitting in with others seems to demand people to compromise to peer pressure or social cues.
Not just kids, following trends, whether it’s the latest fashion, technology, or lifestyle choices, people of all age groups can be seen trying to maintain social relevance and avoid feeling left out.
But how does this peer pressure or influence affect businesses?
Imagine you’re considering buying a new smartphone. You’ve done your research and found a model that meets all your needs and preferences.
However, when you discuss your decision with friends, they all mention how great their latest smartphones are, emphasizing features that your chosen model lacks. Despite your initial satisfaction, you start to doubt your choice and feel pressured to consider the models your friends are recommending.
This social influence could potentially lead you to change your purchase decision, even if it means compromising on your original preferences.
So what should businessmen and marketers keep in mind?
You need to understand the dynamics of how social groups and peer pressure can influence consumer behavior, so that you can tailor your strategies to attract social circles.
Partnering with influencers who resonate with your target audience can help create social proof and encourage consumers towards your product or service.
Build a community around your brand and let your consumers share their experiences with others.
If your brand has attracted any kind of negative feedback or opinions, address them. Be honest and try to turn it positive.
Understand customer analytics and engage them with personalized recommendations according to their preferences.
By considering the role of peer pressure in consumer decision-making, businesses can develop more effective marketing strategies and build stronger relationships with their customers.