Marketing and psychology go hand in hand. You can’t have a strong marketing plan without
understanding how your ideal client thinks. What makes one piece of marketing stand out –
while another piece flops?
Here are a 6 hacks when it comes to using psychology in your marketing:
FOMO
The human brain is wired to avoid losses and seek equivalent gains. We are always on the lookout
for a better deal, and that includes online. Modern studies show we prefer not to lose out when
there’s an opportunity of gaining something else instead – just like in practice! One great example
would be how Amazon has these “Deal Of The Day” offers where you can get savings by setting up
timing so it happens automatically every day at specific times (and they make us buy faster too).
The Zeigarnik Effect
The Zeigarnik Effect is the tendency for tasks which have been interrupted and uncompleted to be
better remembered than tasks which have been completed. We all know that feeling of looking away
from your desk and realizing you’ve been sitting there for 30 minutes without doing anything. You
don’t want to forget about those unfinished tasks, but it’s hard when you constantly need reminders!
E-Commerce platforms use SMS marketing as one way they remind their previous customers about
left in cart items soakers get them completed–and this works because we humans treasure our time
more than anything else.
Cognitive Dissonance
Cognitive dissonance is a term for the state of discomfort felt when two or more modes of thought
contradict each other. The clashing cognitions may include ideas, beliefs, or the knowledge that one
has behaved in a certain way.
Cognitive dissonance strategies that require a consumer to reconcile two conflicting views by buying
a product can be effective in marketing, especially if the reconciliation of opposing views protects or
enhances the consumer’s self-image.
For instance, you consider yourself a savvy automotive enthusiast. In the course of a visit to a
high-end auto dealership, the salesperson emphasizes that “a lot of Americans aren’t sophisticated
enough to understand why this car is actually a great buy.” On the one hand, if you resist the sales
pitch for this very expensive car, you appear unsophisticated; on the other hand, if you agree, then
you’re progressing down the marketing patch toward the purchase of a car you can’t afford.
Faced with this kind of cognitive dissonance, many consumers will go along with the sales pitch to
avoid being viewed as an unsophisticated person without the real knowledge required to fully
appreciate the car.
Decoy Effect
This Psychology Hack is ruined now as its not just limited to marketers. Viral videos have educated
everyone about this but it still works.
In Decoy effect, you use a product with 3 Tiers and the price of 2nd and 3rd product tier has a small
difference which makes customer go for the 3rd and most expensive tier.
A common example is Starbucks Pricing strategy A large coffee is $6.5, Medium is $6 and the Small
is $5. This pricing makes you go for the large as the difference is small and you think you are
actually saving on choosing the large coffee.
Pricing Protocol
Does the way you write a price make it seem higher or lower? Of course! We already know that
including a currency symbol can have a negative effect – that’s why you see some restaurants
pricing a steak at “29” instead of “$29”. But new research shows that punctuation and decimals
can make a difference in how people perceive prices.
According to a new study published in the Journal of Consumer Psychology, prices that have more
syllables when spoken actually seem higher to consumers. Commas (e.g., “$1,699”) and cents
after the decimal (e.g., “1699.00”) add to the number of syllables and hence make the price seem to
be of higher magnitude. This effect occurs even when the price is written and not spoken – our
brains, they say, use the auditory representation in storing the magnitude of the price even when the
price is only seen visually.
The effect is due to the way one would express the number verbally: “One thousand six hundred
ninety nine,” for the comma version, vs. “sixteen ninety nine” for the unpunctuated version. Visual
length may also be a factor.
Social Proof
Social proof is a psychological phenomenon, popularized by Dr. Robert Cialdini, that describes our
tendency to rely on the opinions or actions of others to inform our own. Also known as informational
social influence, it validates a shopper’s choice, saying that it’s worth their time, money, or interest by
using other people as proof.
Whether you’re familiar with social proof or not, chances are it has influenced decisions, both big
and small, throughout your life. Leveraging the appeal of following the “wisdom of the crowd,” social
proof captures our attention because we’re naturally curious about what’s happening, why it’s
happening, and what the correct behavior or response is.
Social proof makes people pause to pay attention to a brand because others are saying that it’s
worth paying attention to.
Marketing is a very tricky business. You have to be aware of your audience’s behavior, as well as the
underlying motivation that would impact their buying decisions in order for your marketing campaign
or plan to work effectively- which can sometimes seem almost too difficult!
Having that foundation in psychology can greatly improve your marketing strategy. I don’t believe
there isn’t a marketer out there who doesn’t appreciate the psychology behind their marketing.
To learn more about marketing your business, contact CarbonSilk.digital today.