Psychology is an invaluable marketing tool for nearly any business. It gives you an inside look into how people’s minds work. If you can understand their motivations, you can appeal to your audience more successfully. Here are just a few things psychology has revealed about the human psyche that you can incorporate into your campaigns.
You’ve probably already experienced the rule of reciprocity in your daily life. Basically, if someone gives you something, you’ll feel obligated to give something back. Many businesses use this to their advantage by offering coupons, “exclusive” deals or even candy to make customers feel as though they’ve been done a favor. This then makes them more likely to spend or tip.
It turns out that three options are sometimes better than two. If you offer two choices with different prices, you may want to add a third that matches the most expensive option. The key is to make sure the “decoy” has less value than the other expensive option. This illustrates the great deal customers are getting with the expensive offer.
Priming is an effective and relatively easy way to influence consumers’ choices. By introducing an idea early on through visual cues, you can “prime” people to make choices favorable to your business. For example, if you include images of a certain product in the background of your website, visitors are more likely to purchase that specific product.
The less there is of something, the more people want it. Businesses have known this trick for a long time, and it’s proven effective over and over. You can incorporate it into your marketing with “limited edition” specials or mentioning there’s a “limited supply.” You can even experience the benefits by offering a “limited-time” deal.
People try to avoid losing something once it’s in their possession. You can take advantage of this tendency by “giving” consumers something to reel them in. Subscription-based services are perfect for this strategy because you can offer free services for a set amount of time, then require payment to continue. Since consumers already “have” the services, they may be inclined to keep them due to loss aversion.
If you want your information to stay in people’s minds, make sure you cluster your content. The brain can only absorb around seven new things at once, but clustering similar information can increase the retention rate because of how memory works.
The human mind is powerful, and studies show those subconscious tendencies have a stronger influence than most people know. If you understand how your audience thinks, you can create more effective marketing material.