Smart marketing is more psychological than you may even be aware of. Catering to people’s instincts and predicting human behavior is both a science and an art form. Here are 10 key tips for effectively marketing to customers using psychology.
1. The Ambiguity Effect
Ambiguity effect causes people to avoid options with uknown results or those about which they lack information. Make sure prospective customers are informed about what results they can expect if they implement your product, and quickly answer questions or fill in knowledge gaps they might have. You could also cast a shadow of doubt over competitive products, making prospects feel as if your choice is the only sure bet.
2. The Anchoring Effect
Whether for good or for bad, the first piece of information we receive about a person or situation will color our overall perception. Why? The initial detail acts as an anchor to which all further information is compared. First impressions matter. Carefully plan out how you will introduce yourself and your product. Make sure the first snippet of information the audience receives about your offering sets a positive tone and high expectation for the rest of the buying process.
3. Hyperbolic Discounting
Our brains are naturally biased toward rewards in the short-term over those in the long-term. The "discounting" part of hyperbolic discounting refers to the fact that the perceived value of a reward decreases the farther it is in the future, until the slope eventually flattens out. Emphasize the quick wins a customer can expect to see shortly after buying your product or service, especially if the main benefit won't come for months. Build in immediate rewards as much as possible.
4. The Bandwagon Effect
People naturally gravitate towards products or services they see other people using. And the larger the crowd, the more powerful the psychological pull. Social proof is more powerful than you might think. Play up the number of customers your company has, and introduce prospects to current clients.
5. The Decoy Effect
Use options to your advantage by presenting multiple versions of an offering or contract. If the prospect is really struggling to decide, introduce a decoy that will reinforce their innate predisposition.
6. The Rhyme-As-Reason Effect
While rhymes are naturally easy to remember, this psychological quirk causes people to perceive rhyming statements as more truthful than non-rhyming ones containing the exact same message. Reformulate a key takeaway about your product into a catchy rhyme. It can also help to apply this tactic to an aspect of your offering that is unclear.
7. The IKEA Effect
People value things they had a hand in creating more than similar, or even superior, products created by others. Get prospects involved in customizing or putting their unique spin on your product or service. The more they feel like the offering is "theirs," the more positively they will feel towards it.
8. Illusory Truth Effect
The illusory truth effect establishes that the more times a person hears a statement, the truer it seems to become. Repetition is one of the easiest and most widespread methods of persuasion. Determine your core message, and then deliver it over and over and over again.
9. The Peak-End Rule
It's not just first impressions that matter; speakers often strive to end on a high note. Why? Because people's brains are wired to remember two moments of a presentation above all others: the apex and the end. Make sure that your pitches hit a deliberate high, and end on a thought-provoking and memorable point. If you're pressed for time, skew your preparation efforts to the ending and a critical moment rather than spending an equal amount of time on the entire presentation.
10. Loss Aversion
Most people's brains are risk-averse. Losing something that is already owned has been shown to be far more painful than gaining something advantageous. This knowledge can be valuable when framing product benefits. Emotions are powerful motivators. Prospects will be more willing to take a risk if they feel that something they own is at stake.
With these 10 awesomely insightful tips on how to market psychologically, you’ll be able to improve your marketing approach and successfully target your audience. The key to resonating with people is truly understanding what pushes their buttons – and how to.
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