Why Do People Buy?

Sociocultural Environment (Tutorial)

Why Do People Buy?

Why do people download an app? Someone they trust tells them to! When someone tells someone to try a new app, we call this word-of-mouth advertising.

Word-of-Mouth Advertising is the most powerful way to convert someone who doesn’t use your app into someone who TRIES your app.

When a user tries your app, this is called Product Trial. Product Trial is the last stage before Product Purchase.

Therefore, the most influential users you can have using your app, the more your app will be used by the people who trust them.

And who are the most influential users of mobile apps? Who are the Innovators and Early Adopters of mobile technology/apps? 18-34 year-old’s AKA Millennials.

As I sat in the condo’s shared office space, I discovered that Millennials had quietly displaced Baby Boomers as the largest demographic group in North America in 2015. WOW.

At the time, Venmo was doing an AMAZING job of target Millennials. They’d been bought by BrainTree for $23M, which was then purchased by PayPal for $800M. I knew I was onto something.