Choice paralysis, also termed as analysis paralysis, is a situation where a person over-thinks about numerous choices and cannot make a decision for themselves. Usually, marketers believe that providing a lot of opportunities to their customers will give them better options to buy only the best product for themselves. However, these choices could end up paralyzing customers and ultimately in no purchase. Choices are not always good and hence, marketers must find an appropriate technology such as machine learning that will better understand a customer’s behavioral pattern and sends them limited choices for their selection. Machine learning can learn and adapt to the current situation in real-time and can, therefore, be used for identifying a customer’ behavior. Marketers should stop bombarding customers with advertisements, push notifications, and texts, and boost their marketing skills by using machine learning to beat choice paralysis.
Issues faced with choice paralysis
Back in 2000, psychologists Sheena Iyengar and Mark Lepper published a remarkable study on choice paralysis. The study involved the jam experiment that presented two display tables of jam to customers in the grocery store. One display table contained 24 varieties of jam, whereas the other had only 6 types of jam. The study stated that a larger crowd was attracted to the large display, but when it came to purchasing, customers ended up buying more from the smaller display table. This study highlighted the need for beating choice paralysis.
Every organization aims to satisfy their customers, attract more customers, retain old customers, and build a trustworthy relationship with their customers. Everything is related to their customers and hence it is essential that marketers must understand and analyze their customers interest towards a particular product. Online retailers bombard various products to customers based on their previous purchase with the thought that it might prove beneficial to their customers. However, there are risks related to customer dissatisfaction over a particular brand, which is a severe issue for marketers.
Using machine language to beat choice paralysis
Machine learning enables marketers to understand a customer’s behavior and accordingly send them best possible offers based on their browsing and purchase history. Moreover, machine learning provides predictive maintenance, which helps companies to discover more profound insights and hidden patterns of their customers. This helps them understand what exactly customers are willing to buy. The chatbots allow marketers to get more information about customers and also offer customers with quick responses to their query about a particular product. Moreover, the ‘similar products’ or ‘recommended for you’ section in E-commerce sites provides customers a perfect avenue for viewing and opting for the perfect product. Machine learning offers on-site merchandising that helps marketers achieve tremendous profits.
Choices are great, but too many choices end up making your customers disassociated from your brand. Machine learning is an excellent technology that helps marketers segment their customers, analyze more profound insights about them, and have better control on their marketing tactics. Hence, marketers must send appropriate offers or choices to their customers by using machine learning to beat choice paralysis and gain enormous profits.
