Marketing Psychology Tactics

The Art Of Influencing Buyers.

Studying the human minds and behaviors towards marketing is crucial for any succefull brand or business world wide.

Once a brand understands the minds of it's audience, it's much easier to boost convertion rates and meet consumer needs.

WHAT IS MARKETING PSYCHOLOGY OR WHAT IS NEURO-MARKETING? 

Neuro-Marketing or Marketing Psychology is the art of influencing customers or clients to do something. In other words, marketing psychology is the application of psychological principles to a marketing strategy.

In this Article, We've Shared 7 Marketing Psychology Tactics That Will Boost Your Marketing Results Higher. 

Outline:

 → Idleness Aversion

 → Loss Aversion

 → Frequency Illusion

 → Paradox Of Choices

 → Quiz And Questions

 → Scarcity

 → The Decoy Effect

Understanding these principles is the key for any succefull brand or business.

1. IDLENESS AVERSION 🧠

Convert Boredom And Stress Into Delightful Moments.

Psychologists have discovered that people have an aversion to doing nothing.

They're happier when busy, though also love to complain about how busy they are.

When someone doesn't feel purposeful or  busy working towards something, negative thoughts may creep in.

In a customer's mind, idleness is a negative energy. They don’t want any part of it and will equate your brand and products negatively if you force them into it.

First Of All, Let’s Look At How Google Has Dealt With Human Psychology And Used Idleness Aversion As An Advantage.

Google Chrome:

When there's an unstable or poor network connectivity and you have to open your browser to wait until the connection is stable.

Google Chrome handled this stress by providing a T-Rex game, a simple game enough to get people engaged while waiting for connectivity.

This Marketing Psychology tactic has a greater impact on the user’s mind, and makes users fall in love with Google.

Here's How You Can Use This Same Tactic In Your Marketing.

When customers have to sit idly and wait for their issue to get resolved, offer them something while they wait. Create moments of delight in the moments of waiting.

Make the waiting less boring for your buyers rather than seeing it as a problem, look at it as an opportunity to offer welcome distractions that will build a personal connection between them and your Brand or product.

These distractions don’t have to be costly. Think of the minor things that customers would enjoy experiencing while waiting.

If you know your buyers will have to sit idly for a long period of time, keep them updated with your progress. Use this opportunity to create moments of delight and purposefulness that will leave them loving how your brand makes them feel.

2. LOSS AVERSION 🧠

The Fear Of Losing Something.

Loss aversion can be Indentified as the tendency of people to strongly prefer avoiding losses to acquiring gains.

Research shows that 90% of consumers don't like losing what they've gained. They are more likely to do anything in order to gain it back.

It’s part of human nature to fear losing things we already have, and in psychology, this principle is called Loss Aversion.

In other words, buyers make purchasing decisions that are motivated by their desire to avoid a loss.

Take this as an example:

People are more upset when they lose $700 than they are happy when they find $700.

They prefer avoiding losses.

As a smart marketer, take this as an advantage that can boost conversion rates in your marketing campaigns and this is how you can use this marketing psychology principle the right way.

Launch a "free-trial" of your product or service, make sure it solves a certain problem(s) and provides value for a certain period of given time.

When that time period is up, cancel the "free-trial" and then inform your consumers that they're in position to lose the product unless they upgrade to become paying customers.

This will psychologically trigger the consumer's mind on how to gain the service back and the only way is by upgrading to become a paying customer.

You've seen brands like YouTube use this marketing psychology principle to convert subscribers into paying customers to their online services and products.

3. FREQUENCY ILLUSION 🧠

Why You See The Same Thing Often.

The frequency illusion happens when you learn, see or hear about something for the first time like a song or a fashion trend, and suddenly start to see it everywhere.

Sometimes you might see it so often that you start to wonder if there is some sort of conspiracy.

Let's Look At This Situation:

When you hear about a product or service for the first time, you may give it less attention or show no sign of interest in it.

But suddenly after a very short period of time, you start noticing it in your everyday life, whenever you go to a store, your more likely to spot it out.

You then start seeing it in Ads on screens, billboards, media posts, Emails, promotions and also notice some people around you have that same product.

This is called frequency illusion. Also known as the Baader-Meinhof phenomenon.

It's a psycologic technique Brands use in their marketing campaigns to get into the minds of people making their product or services part of people's daily lifestyle so that it gets noticed.

So, Now That You've Understood How This Principle Works, Here’s How You Can Use It To Your Advantage In Your Marketing.

First of all, you need to make your potential customers aware of your product. By using multiple, targeted channels and exposing your potential customers to your marketing message more than once.

Using distinctive headlines and vibrant images is so important. Video is very powerful on lots of different channels, 

When you notice that people have started noticing your 

The more you make people notice your product or service in their daily lifestyle, the more they will be gaining interest in it.

When consumers gain interest in a product, they devolop a mental energy of owning it. 

With this in mind, to make a significant impact in your marketing campaigns, you should expose your audience to your product or service through different channels, repeatedly and consistently.

4. PARADOX OF CHOICES 🧠

The fear of making the wrong choice. And why more is less.

When the number of choices increases for the consumers to choose from, the more stressed and confused they become at making a decision.

As a result, they may end up not making any or have a douhgt whether the decision they made was the best for them.

Offering too much options may result in 3 negative side effects as discussed below.

Analysis Paralysis: When there are too many options, customers will become paralysed and instead purchase nothing.

Buyer's Remorse: After browsing for hours and then finally settling on a product, many customers will experience a sudden pang of guilt. They will develop a douhgt whether they made the best choice.

Decision Fatigue: People have that mentality of making a finite number of decisions each day. Once they've reached that limit, their ability to make smart decisions is severely depleted.

Here's What You Should Do. 

In order to boost or increase your convertion rates, there's a long list of things you should consider as a smart marketer, we've shared the best things that will work out.

First of all, Spare your buyers from unnecessary decisions and they will have a mental energy to make an impulse purchase on the most important decision.

Test and get an idea about the right product choices, in terms of variety and numbers, that should be offered to buyers so that they make favourable purchasing decisions from a marketer’s perspective. 

You should communicate with buyers as soon as they make a purchase to reinforce their choice.

Reducing the number of choices you offer for your buyers will improve the quality of decision making, the process of buying a product less stressful and more satisfaction with the decision after the purchase.

5. QUIZ AND QUESTIONS 🧠

Ask Questions To Build Engagement.

Alot of Brands use questions and quiz in their marketing campaigns. The main purpose is to build engagement.

Those questions trigger a consumer's mind to understand they need what the Brand is offering or selling.

Let's take a quick example:

When a healthy care business or dentist uses questions or quiz in their marketing campaigns, they usually include questions like these;

    "Are your teeth sensitive to cold?" 

    "Do You have a broken tooth?"

    "Do you bleed when you brush?"

When their ideal clients or customers answer "YES" to those questions, they will be more likely to make an immediate appointment and pay for the services.

Including questions in your marketing messages boosts engagement between your brand and your audience.

It will get them conversing with your brand and you will get valuable information in return.

This will also allow you to know them much better and the kind of services they need, their pain points and fraustrations. You will be able to provide much better solutions and increase your convertion rates.

6. SCARCITY MARKETING 🧠

Fear Of Missing Out Something.

Scarcity marketing is a marketing technique companies or brands use to capitalise a customer’s fear of missing out a certain product or service.

Often, this means putting timers on sales and promotions, minimizing the number of products in stock or selling seasonal and promotional products for a short period of time.

If you want to creates a higher demand for your products, you may be interested in learning more about scarcity marketing.

Let's discuss more about scarcity marketing, why it's useful for businesses and some helpful tactics you can use to benefit your business in order to sell more products.

How To Use scarcity in your marketing? 

When you drive for 6hrs to go buy something and find a tagline that says "Only 2 Are Left".

What pops up in your mind?

This psychology principle wheels around the formula of supply and demand. The more rare a product or service is, the more valuable it becomes.

Consumers hate missing out valuable products that are more likely to be gone soon. Create a sense of urgency that triggers a consumer's mind to make an impulse purchase. This will motivate them to buy instead of wait.

Create early access discounts. The best way to do this is by sending emails to existing customers with the promotion details and putting a banner on your store's website or physical location with the date the discount ends.

Create limited time bonus offers. Alot of businesses are doing time-limited sales nowadays. A tactic like this will help you stand out from the competition, you need to take your scarcity marketing to a new level.

Sell seasonal products. This will help boost more sales during certain times of the year and create excitement among consumers when you release new products.

7. THE DECOY EFFECT 🧠

How your influenced to choose without really knowing it.

The decoy effect is defined as the phenomenon whereby consumers change their preference between two options when presented with a third option.

In other words, customers are clear that they prefer cheaper option over the more expensive one. However, they usually change their mind when a third option is introduced.

The decoy effect is more effective when the products are very similar but have slightly different features, 

And for it to work, the price difference between the 2 options or products must be less than the others, almost negligible.

Let's take this as an example:

Imagine you’re lining up at a movie cinema to buy some popcorn. You’re pretty hungry.

You have three options to choose from.

Small - $3.50

Medium - $5.50

Large - $6.00

In this scenario, the cheap option will make the expensive one seem to be the best deal. Right?

You don’t really need that whole large popcorn, but you end up buying it anyway, because it’s a much better deal than the medium and small. 

It makes you believe that you're making a better descion.

But usually, in most cases, the brain always tend to go for the medium option.

How can you apply this in your marketing?

The decoy effect is a psychological pricing strategy where by you will need to offer only 3 options. Including more than 3 options for consumers to choose from will slow down the decision making process.

When they're 3 options, the consumer's mind will directly compare the price and quality of the product.

And as a result, their mental picture on the available options or products will make it clear that the most expensive option is the best deal for them.