For being a pro at marketing, knowing about consumer behavior is essential.
What do they love to purchase?
Why do they choose to do so?
is always important to set up a marketing strategy 2021.
It’s their unpredictable behavior, which can change the game plan of marketing.
If a business does not understand the reason behind why a customer is buying a specific product from it, this will affect the marketing strategy.
Before unleashing the basics of marketing techniques, it’s necessary to explore how your prospects and consumers think.
Here, where psychology marketing plays a critical ROLE.
Perceiving the fundamentals of psychology will upgrade your marketing strategy. The role of psychology in marketing has become important to a vast extent.
Why do some people say yes to a particular product?
Researchers haven’t found the answer yet but the term psychology marketing will help you to know.
I have prepared this piece to give you an in-depth idea about psychology and marketing.
Psychology Marketing Strategies
Priming is one of the psychology marketing techniques that involves exposure to one stimulus and your response to another one.
Focus on the small details while deploying the priming method in your marketing strategy.
Visitors can remember basic details about your brand if you utilize PRIMING.
It can really affect a person’s decision-making process.
Reciprocity is when an individual repays for something you do for him.
This psychology marketing strategy enables the brand to trick customer’s minds.
By offering something for free, you can ask for something else in return from customers.
Sometimes, you can find sites providing eBooks free of cost in return for the personal detail you give.
Reciprocity will derive prosperous results when presented as a surprise.
It can help a company in gaining customers, retain them, and enhance customer loyalty.
Many brands use scarcity psychology marketing tactic, which is based on the law of demand and supply.
This implies that the value of a product, content, or opportunity increases with its rarity.
Humans in general value scarce resources and you can use this to boost a product’s value.
Tell people what they are losing and they start valuing it.
It develops a sense of urgency.
Experts’ opinions hold a lot of value today for ensuring credibility. Before influencing others, you have to prove your credibility and present yourself as a knowledgeable authority.
Using this psychology marketing technique, a brand can earn huge attention from others.
5. Decoy Effect
While consumers selecting between two available options, an additional third product control their decision.
The third option is asymmetrically dominated.
If you want to sell an expensive product to the customers, the decoy effect influences a person to go for a costly choice.
Do you always end up buying a product from your favorite store?
Most people make a purchase decision based on what they hear first.
Marketers must know this customer persuasion technique for boosting up sales.
7. The Baader-Meinhof Phenomenon
Baader – Meinhof Phenomenon refers to a frequency bias.
If you encounter something for the first time and then see it everywhere around you, it means you have experienced this phenomenon.
The best example is Maggi 2 minute noodles.
Suppose your boss is asking how much time is left for you to come to the office and you answer 2 minutes.
Indubitably, Maggi will strike to your boss’s mind or yours.
It’s a brilliant psychology marketing trick that marketers can use for the promotion of a product.
8. Verbatim Effect
The verbatim Effect is a cognitive bias under which people only remember the gist of an event or conversation instead of complete details.
Utilizing this effect in your content will take up your marketing game to new heights.
People don’t have the time to read long content.
Instead, they focus on the core message.
Even if you are curating long-form content, focus on making the headline attractive.
This is what will keep the readers engaged with your content.
Our short-term memory possesses the ability to store limited information.
Clustering involves the storage of small fragments of information into related groups.
Suppose you have to purchase several books from two different languages (English and French).
You can categorize them into two groups- English Books and French Books to remember all later.
Infographics and cheat sheets are the best example of clustered content.
Design your content using clustering for improved memory retention.
For a long content, clustering information in points or different headers can facilitate memory retention.
10. Color Psychology
Color psychology marketing can be enacted for influencing the decisions of prospects.
Colors are a great way to change the way someone thinks.
It impacts one’s moods and feelings.
Color preference determines which product is right or better.
This can push customers to buy your product.
11. Loss Aversion
This psychology marketing product fear in an individual’s mind. A person having something will always fear losing it.
No one wants to lose what he earns or gains.
This concept can seriously impact freemium product sales.
This theory implies that if someone or a group likes something, you will start to like it too. Social proof psychology marketing is widely in use on social media and some blogging platforms.
Some Examples of Digital Psychology Marketing
There are endless examples of when brands have used psychology marketing for developing a smart marketing plan. Find out about some of them here.
1) Body Shop
Body Shop is a brand that implemented the Reciprocity concept.
They offered free samples to the customers, which involves give and take concept.
By providing free samples, it gained customers who were actually interested in buying the product.
Why Spotify can attract people with its ad?
If you haven’t observed, it focuses mainly on humor content. Humorous posts increase our likeability towards something.
The most suitable example for psychology marketing in India is tide.
It combines storytelling, humor, and self-referentiality for marketing products.
Glossier has employed Authority for building the trust of consumers in its product.
Marketing with authority can be recommendations, titles, uniforms, etc.
4) Gravity Vault
Gravity Vault started a Facebook campaign recently by using loss aversion.
It generated a fear of missing out among customers and thus the company got a good number of sales.
Wrapping it Up
The above psychology marketing strategies and examples are not sufficient enough.
Marketers must keep themselves updated with the ongoing trends.
What do you think about this strategies?
Let us know in the comment BELOW.
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