The best marketing strategies are those that understand customers’ needs and desires. Businesses that take the time to learn what makes customers tick do so by embracing the psychology of marketing. There are a number of psychological marketing tools that can be employed by business owners to attract customers. Here are the top 5 ways to use the psychology of marketing to your advantage.
Reciprocity is a simple psychological concept. In layman’s terms it is the exchange of things for mutual benefit. A common example is the mints brought to you when you receive your check at a restaurant. Did you know this was a psychological technique to increase tips? Studies found that giving one to two mints at this point in the transaction increased tips by 13% and 20% respectively. In your business, you could give out free samples. Consider pens with your logo or free tips on your website. The key is to make sure you give customers something free before trying to make a business transaction. Reciprocity is a simple and effective tool. Use it to experiment with the psychology of marketing.
Color is a powerful psychological tool to use in marketing. Studies show that most customers make a decision within 90 seconds. Up to 90% of that decision is influenced by color. Make sure your business picks specific colors for your branding, website and office. Reinforce these colors in any marketing materials you send out. A strong, colorful brand will make you memorable to customers. It can produce positive emotions for them. When you decide to use the psychology of marketing to attract customers, make sure you have a color palate in mind.
Customers like choices. When offering a product or service, it is possible to use choices to persuade customers into purchasing more of one thing than another. For example, when given the choice of three options, customers generally pick the cheapest option. However, if one of the choices is a package deal that saves customers money, this option becomes the most popular. Even if it is the more expensive option. If you want to use the psychology of marketing to increase your sales, make sure your business offers choices to customers.
Exclusivity And Urgency
Customers like to feel unique. Offering your product or service to anyone and everyone can make it less desirable. At first, consider marketing to a small group. This will make your business offering seem exclusive to one market. A similar tactic is to market your product or service as a limited time offer. Customers do not like to miss out on a deal. These tools can go hand in hand. The psychology of marketing has some interesting tricks. Remember to create a sense of exclusivity and urgency around your business offering.
Us Vs. Them
Once your brand is established, an excellent way to attract loyalty among customers is to position yourself as a clear competitor. Make it about us vs. them. Customers pick sides and often remain fiercely loyal. Some recent examples include Android vs. iPhone, XBox vs. PlayStation and PC vs. Mac. This psychology of marketing tool is also referred to as creating a tribe and an enemy. By attracting people to your tribe, you create a loyal customer base that will continue to buy your product. These loyal customers will help market the product as well, through word of mouth. Consider this psychology of marketing tactic if you are looking to attract fiercely loyal customers.
There is a science to marketing. The psychology of marketing is something any business owner looking to attract new customer should consider. The psychology of marketing can also be used to turn current customers into lifelong loyal customers. Remember this post if you need to revamp your marketing strategy. You will soon reap the benefits of this time honored technique.
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