The psychology of Marketing
As you all know, marketing is the bridge between your product or service and your customers. Because you are marketing to people, PSYCHOLOGY comes into play in almost everything you do. That being said, here are a few truths to consider in your own marketing no matter what your game plan is:
1. Emotion beats intellect every time. In short, it’s more effective to show your audience how your product or service can make their lives better than simply listing features. Connect your business to your audience. Your customers like to feel positive emotions like happiness and pride and dislike emotions like sadness, loss, fear or regret. Do your research and associate your product or service emotionally with your clients.
2. Me Too! The power of conformity. This is also called social proof and in essence it means that if everybody else loves it, I probably will too. The best example of using this technique is by joining a user or owner group on Facebook, Instagram, Twitter etc. Another great example is when you read read product reviews and testimonials. In fact, testimonials are one of the most powerful tools you have at your disposal and I’m always shocked at how little effort many businesses put into posting them.
3. Framing. What if I asked you to come in and have a drink that is very low in nutritional value and very high in calories and leads to poor health and weight gain? Now what if I asked you to come enjoy a refreshing tropical drink on a hot day made with natural ingredients and Monday-Fridays before 6pm you get a large for the price of a medium? They are both the same thing, just framed differently.
4. Reciprocity. Bet you hadn’t considered this one. Reciprocity basically means that people like to do nice things for those who have done nice things for them. It can be used very effectively in restaurant and is often used by non-profits like when you are mailed a small gift at the time you are asked to make a donation. Know that Budist Monk on the streets of NY who first gives you a flower or book before asking for a donation or the server who brings you not one but two chocolates with your check. That server is likely to get up to 25% more than you were prepared to offer as a tip before your check came. Consider a way to use this very closely in your marketing.
5. Mere Exposure Theory. Simply stated the theory states that the more people see something the more they will like it. Now this theory is much more complex than just this but it is a premise by which much advertising is based. A close relative to this theory is the Propinquity Effect which states that people are most likely to become friends with the people they see most frequently. Makes sense right? In short keep your brand in front of your consumers. Regular advertisements, posts and email communication breed familiarity and, as a result, positive associations. Spokes persons are also highly effective. One caution is be careful not to oversaturate like the house guest that never leaves but it is rare that a small business would have the horsepower or funds to actually do this.
6. Scarcity. Let’s face it, if it is rare people are going to want it. How many times have you been compelled to buy because there is only one left? There are a variety of ways to use this to your advantage. Offer “limited editions” – the very definition of a scarce product. Specify the limited number of items available or by show how few are left. You can also create time-contingent scarcity by offering an early-bird salse or placing a countdown timer on your product page to motivate sales. There are literally hundreds of other examples.
If you want to explore more ideas like this or see which of these are most feasible for your business, contact Imagica at any time and we would be happy to discuss this with you.