With the increasing use of advanced marketing strategies and smart modes of internet marketing such as
You may be wondering what could be the reason for this trend. The reason is not far-fetched, it has more to do with customers’ behavior. Their evolution in response to the marketing strategies they encounter regularly. This is why it is imperative for you to understand and apply the psychology of marketing. Only if you really want to get the very best out of your marketing strategy.
You need to know that as marketing strategies are getting more advanced, prospective customers’ behavior is also becoming more sophisticated. The prospects want to ensure that your state-of-the-art marketing strategies do not take advantage of them. That is why they tend to be more difficult to convince. Therefore, the need has arisen for you to understand and apply the following psychology aspects in your marketing strategy.
#1 Powerful Visuals Can do The Magic
Did you know the following? Humans remember 65% of visual contents they have seen, even after 3 days. Visual contents are more appealing to prospects and you can easily relay multiple messages faster via visual contents than text. Product videos have also helped to increase the purchase of many products.
The use of visuals in your content marketing can give you an edge in your industry. Why do you think more than 50% of adults in the United States use YouTube? The marketing benefits of rich visual content cannot be overemphasized. The application of visual content has gone beyond marketing alone.
#2 One Good Turn Deserves another
Naturally, people tend to give at any slight opportunity after receiving. Prospects will be naturally willing to offer you their patronage after receiving a little gift from you. Who says you can’t offer professional advice or accessories for free and in turn win another customer?
This is the concept behind inbound marketing and content marketing. You offer valuable and enlightening content to your prospects and whenever the need arises for them to utilize a product or service related to your content, they will naturally feel obligated to patronize you. Business owners who always employ this technique have profitably won more customers.
#3 Appeal the Emotion
Research has shown that it is a desire that makes prospects to go for any product or service, not features. Even when your product can boast of overwhelming features, you may not appeal the prospect by flaunting the product features especially when it can’t meet the prospect’s needs. Some marketers of gadgets often get it wrong by flaunting how the gadget works rather than illustrating how the gadget can help customers.
Prospect’s emotion is more attached to how your product or service can solve their problems and this is exactly what you will use to link with their emotion. When you are able to unequivocally demonstrate the problem-solving aspect of your product or service, your prospective customers will naturally desire it. Your ability to identify customer’s need is extremely relevant here as it plays a major role in helping you connect with your customer’s emotion.
This technique is very common among store owners, especially online stores. You can sometimes decide to sell your products at a low price. However, customers who are not aware of this low price may just take it as being the regular price and they might not be moved. By using the anchoring technique, you will display the low selling price next to the initial price of the product. This will prompt customers to buy as many as possible, knowing that the price is unusually cheap.
Using this technique, you have successfully applied psychology of marketing because your knowledge of customers’ preference for cheaper products has been gainfully utilized. Anchoring can be used to achieve a fast sale of products.
#5 Social Proof
People commonly use social proof in fashion and in selling other products that are attached to prestige. Studies have shown that people tend to behave in line with the opinion of other people or a group of people they like or admire. When prospects see the people they like using a particular product, they tend to feel safe using such product as well.
This is often the concept behind some contracts where celebrities act as brand ambassador for some companies. Once people see celebrities using some products, they already have the social proof that such product is good and that is the way a celebrity decided to use it. Therefore, they buy such product based on the social proof they have about its authenticity. In your marketing strategy, using social proof shows you understand who can influence your prospect’s behavior. Once you prove that such a person is using your product, the prospect is more likely to buy as well.
#6 Decoy Technique
Decoy technique is one other smart way of making customers appreciate the price of product or service. In this method, you will cleverly limit your customers to few options making the option you want them to choose to look very attractive. For example, a store can put up a cup for $8, teaspoon for $4 and a combination of cup and teaspoon for $8.
Naturally, a wise customer will go for the combination, thinking that it is very cheap to purchase both a cup and teaspoon for $8. And the exact intention of the store owner is to actually sell both products for $8. Decoy technique utilizes the desire of customers to get the most benefits with the least amount possible.