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 Trick
Did you know 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. All over the world, various individuals roll out tons of contents every day, all in the name of content marketing. How do you want to make your content stand out of the multitude? The answer lies in powerful visuals. Powerful visuals are very important for increasing your CTR which will, in turn, increase your sales.
#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 a 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 gadget marketers often get it wrong by flaunting how the gadget works rather than illustrating how the gadget can help customers. This is one of the biggest sales mistakes that salespeople make while trying to draw prospect’s attention
Prospects always attach their emotion to how your product or service can solve their problems. Therefore, in your marketing, you should emphasize how your product and service can solve customers’ problems. 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 this price might not spur them to purchase your product if they don’t see a price comparison. By using the anchoring technique, you will display the low selling price next to the crossed-out 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 you have gainfully utilized your knowledge of customers’ preference for cheaper products. You can use the anchoring technique to achieve a fast sale of products. You can also use this technique when you have competitors who sell a price higher than yours. Customers will find it difficult to resist a price difference such as $25 $20. It is worthy of note that; in order to effectively use anchoring technique, you have to display both prices boldly enough.
#5 Social Proof
People commonly use social proof in fashion and in selling other prestigious products. 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 predictable behavior provides a wonderful opportunity for you
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. Social proof will sometimes help you to eliminate the prolonged quality check which customers carry out on your product before they decide to purchase. Social proof will help you to achieve your prospect’s trust without prolonged quality check.
#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.
Decoy technique is very useful in selling accessories and making a good profit out of some products which customers usually overlook. You just have to simply combine such product with a more desirable product and offer an attractive combination price like the one illustrated above. Decoy technique requires a deep understanding of customers’ response to price and you should know how to appropriately distribute price among the available options.