The Intersection of Psychology and Marketing
The interesting part about marketing is the chance to discover new methods to initiate favorable emotional responses from consumers, for instance, advertising tricks.
Across radio, TV, print, web, and mobile, marketers invest creative energy, advertising cash, and time into core messages meant to start an emotional response among consumers. For their endeavors, marketers hope they may ameliorate the general good feeling towards their brand, persuade new audiences to purchase their product and encourage existing clients to complete repeat purchases. Their success, of course, is dependent on their capacity to influence customers’ behaviors using these advertising tricks which make marketing an exertion in customer psychology.
How to use psychology to your advantage
Robert Rosenthal notes, in an article for Fast Company, “The great majority of marketers are not psychologists. But many prosperous marketers constantly utilize psychology in appealing to the buying behavior of consumers. Skillful, smart, honest marketers use psychology ethnically, legally and respectfully to lure and engage consumers, and force them to buy.” Thus understanding customer psychology is an integral part of a successful marketing strategy.
According to Rosenthal, there are five methods marketers can do this.
- Run emotion ideas. Research suggests that marketing directives perform better when they underline the outcome consumers can get with a particular service or product versus a skinny list of its features and components.
- Highlight your flaws. To build customer trust, address your product’s setbacks rather than conceal them.
- Reposition your competition. Read just how consumers view the competition. Without necessarily bashing them, you can strengthen the idea that your product fills a unique, higher value need in your client’s life, making your offering the best choice.
- Promote exclusivity. Cater to your client’s self-confidence by making them feel important if they were to buy your product.
- Introduce uncertainty, fear and doubt. Underscore the consequences of inaction. Loss aversion is a strong psychological principle that can encourage people to buy your product if doing so helps them avoid any bad outcomes.
The emotional elements associated with influencing customer’s buying behavior shows there is obvious link between psychology and marketing. The marketing tricks are in getting prospective customers to think differently about your offer or company. In some instances, that means designing the right brand narrative. Sometimes, it is technically getting individuals in a compliant state causing them to make small engagements before you start sharing your intended proposal.
- 6. Priming
Have you ever taken part in a game where one person says a word, and the other spontaneously responds with the first thing that comes to your mind?
Priming works in the same manner. You are exposed to one stimulus, and it influences how you react to another stimulus.Psychology Today (a journal) provides the example of two sets of individuals reading the word "yellow" followed by either "banana" or "sky.” Because individuals have a semantic link between the fruit and its color, the "yellow-banana” set will recall the word "banana" quicker than the "yellow-sky" set recalls "sky."
This has a lot to do with marketing. Using delicate priming strategies, you could assist your website visitors recall key info about your brand -- and probably even influence their buying behavior.
This has been tested before. In a research carried out by Naomi Mandel and Eric J. Johnson, researchers maneuvered the background design of a website to see if it will affect clients' product choices. Participants were asked to make a choice between two products in one class (e.g. a Toyota vs. a jaguar). Psychology Today, states "they realized that participants who had been primed on cash (the background of the website was green with pennies on it) observed the price information longer than participants who had been primed on safety. Identically, customers who had been primed on comfort read the comfort information longer than those primed on cash."
So if you intend using priming in your marketing, think about the small tips. They could be the deviation between an individual bouncing from your page and buying your highest product price point.
- 7. Reciprocity
The principle of “reciprocity” is simple -- if an individual does something for you, you obviously will want to do something for them.
If you have ever had a mint with your bill at a restaurant, you've been subjected to reciprocity. According to Cialdini, when waiters bring a check to their customer without a mint, the diners will tip with respect to their conception of the service rendered. With a mint, the tip goes up 3.3%. Two mints the tip goes up to approximately 20%.
When marketing, there are many ways to take advantage of reciprocity. You don’t have to invest much money to give something away; it can be anything from an exclusive eBook, to a branded sweatshirt, to a free desktop background, to your expertise on a daunting subject matter. Even something as trivial as a hand-written note can do a lot in establishing reciprocity. Just ensure you're giving away the free stuff before you ask for something in return.
- 8. Social Proof
Almost all marketers are already conscious of this concept, but it was too essential to exclude it from this list. If you're not conversant with it, social proof is the hypothesis that individuals will adopt the actions or beliefs of a set of people they trust or like. Imagine this like a clumsy middle school dance -- few individuals want to be the first on the dance floor, but once a few individuals are there, every other individual wants to participate. An easy technique to get the most of social proof is by blogging. If you do not have a blog already, use social sharing and follow buttons that show the number of shares a piece of content has or the number of followers your accounts have. If those figures are front and center and you already have a few individuals sharing your post, people who later stumble on your post will most probably share them.