About Marketing Psychology: How to Use Psychology to Sell More
In order to market effectively, you’ll need to consider how your customers’ minds work. Psychology has numerous techniques that can help you market more effectively, whether it’s using colors to appeal to your audience or tweaking your message to make people respond better to it. This marketing psychology guide will walk you through the basics of psychological marketing and give you several examples of how to apply them in real life so that you can sell more products, services, and information.
Give ‘em What They Want
One of the most important things to understand about marketing is that people don’t necessarily buy what they need, they buy what they want. And what they want is dictated by their psychological needs.
A popular example from Marketing 101 textbooks is how Target was able to increase sales by not just changing its advertising and prices, but also how it organized its stores.
It turns out that women tend to make most household purchasing decisions for their families and often prefer to visit one store at a time in order to compare brands and prices before making a purchase decision.
When Target realized this, it changed the layout of its stores so as to group similar items together—and customers started buying more stuff! The company saw an increase in profit margins of over 20% between 2003 and 2004 because of this change in strategy.
Don’t Be Creepy
Just because you understand psychology doesn’t mean you should use it in a way that feels manipulative or unethical. Remember, people can usually tell when they’re being sold to, and no one likes that feeling. Instead, focus on using psychology to create a more positive customer experience.
After all, happy customers are the best kind of customers. To start, here are some of the most important things you need to know about marketing psychology and how to use it ethically.
Identify Hot Buttons
You can use psychology in marketing by identifying your customer’s hot buttons. What motivates them? What drives their buying decisions? Once you know what makes your customers tick, you can push those buttons in your marketing campaigns to get them to take action.
Let’s say you’re a business owner who sells big-ticket items that are often bought impulsively. Your customer might be motivated by the thrill of a bargain, so one strategy would be to offer deals and promotions more frequently or emphasize the savings aspect of your product or service.
Play It Up
We all want to believe that we’re rational creatures who make decisions based on logic and reason. But the truth is, our emotions play a much bigger role in our decision-making than we realize. And smart marketers know how to exploit this fact.
Consider for example Cialis, the erectile dysfunction drug from Eli Lilly. With a marketing budget of $152 million (more than Viagra’s $45 million), they were able to take advantage of consumers’ embarrassment by linking ED with a disease state or physical condition (impotence).
It was an emotional campaign that sought to redefine erectile dysfunction as something people should feel comfortable talking about with their doctors – instead of feeling shame or embarrassment when discussing it with others. The Cialis campaign was also successful because it played into what men want most: love and acceptance from their partners.
Know How To Take Advantage Of Different Stages Of The Buying Cycle
Prospects go through different stages of the buying cycle when they decide whether or not to make a purchase. By understanding marketing psychology, you can take advantage of these stages to sell more. Here are three psychology and marketing techniques that work well with each stage in the buying cycle:
1) Awareness-Attention-Interest – Target prospects who are aware of your brand but don’t know much about it. Educate them on your product and show them how it will solve their problem by providing testimonials and data points.
2) Consideration-Intent-Evaluation – Once they’ve become interested in your product, give them what they need to consider it further by answering questions and providing comparisons. Be sure to include social proof by displaying customer reviews and ratings on your site too!
Target Language Affects Sales
Marketing psychology is the study of how language affects consumer behavior. As it turns out, the words we use in marketing and advertising can have a big impact on sales. A good example is what was found when researchers tested 30 versions of a landing page for an online course about photography.
The copy on some pages made clear that there would be no refunds for those who enrolled, while other pages implied that enrollment was not final or that refunds would be possible if needed.
These subtle differences had a major effect: When people read the explicit no refund page, 39% signed up for the course; but when they read about refunds being possible only if necessary, only 20% signed up.
There are many ways you can use the psychology of marketing to sell more with your business—think about how you frame your promotions and what messages are most persuasive to your target audience.
Control Your Call-To-Action Copy
The call-to-action (CTA) is one of the most important elements on your website or landing page. Your CTA copy should be clear, concise, and persuasive. But what psychological principles can you use to make your CTA even more effective? One such principle is called the law of social proof.
Simply put, this means that we are all influenced by other people’s behavior. If people do something then it must be a good idea, right? Social proofing has been around for a long time–as far back as 500 BC when Aristotle wrote about how custom controls nature.
Deliver On Your Promises
Your customers are always looking for reasons not to trust you. It’s your job to give them as few reasons as possible. One way to do that is by delivering on your promises. The customer is always looking for a reason not to trust you, so it’s your job to give them as few reasons as possible.
To provide reassurance about their purchase, offer a money-back guarantee and return policy in the event of dissatisfaction with the product or service. You’ll need some terms and conditions though – make sure they’re very clear and cover all eventualities (including if the customer changes their mind).
Also, offer free shipping both ways if they decide they don’t want the product after all! If you’re confident enough in your product, this can be an excellent sales tactic – and hey, even if it doesn’t work out, at least you haven’t lost anything!
Keep Them Waiting (It Increases Desire!)
When you make someone wait for something they want, it increases their desire for it. This is because of the psychological principle of scarcity, which dictates that people want what they can’t have. And the more scarce something is, the more valuable it becomes.
In other words, waiting makes an object more desirable and we’re willing to pay a higher price for it. Marketers know this, so they intentionally create artificial limits on items to encourage consumers to buy them.
Get Outside The Box
To be a successful marketer, you need to think outside the box. And to do that, you need to understand psychology. Psychology can help you understand what motivates people to buy, how they make decisions, and what factors influence their behavior. By understanding psychology, you can create marketing campaigns that are more effective and sell more products or services.