You need not be a psychologist to unravel what goes on in a consumer's mind. Just imagine yourself in your customer's shoes and you will be able to figure it out. And when you do, it can do wonders to your conversion rate. Here are a few psychological tips to keep in mind while strategizing your next marketing plan.
1. “ $100 $75” is better than just $75
The human mind would easily be attracted to the same product it is marked down from its original price to a discounted price than when it is directly shown at its discounted price.
Even if it isn't worth the quoted price, this dramatic step-down will cast a spell on your customer.
2. Tap into emotions
Brands sell emotions these days. To effectively tap into emotions, you should dig deep and find an element that connects the brand to its target audience instantly.
There is no wonder that Coca-Cola replaced their tagline Open Happiness with Taste the Feeling. The appeal is global and hence the reach of the brand is wider.
3. Play with consumers' fear of missing out
“Only 100 concert tickets left” is more effective than “Buy your tickets now.” Scarcity brings in demand. It pushes a consumer to the cash counter or checkout page.
4. Impulse buys are way too common
Ever walked into a shop for a tablet and just could not resist the Snickers on the counter? That is called an impulse purchase. Why does it happen? Well, there are many factors ranging from your love for shopping to the lack of time required for comparing the product to its substitutes.
5. The more you see, the more you like
Mere exposure effect, they call it. It means, you start liking something MERELY because you keep getting exposed to it. Ever heard of the phrase “Grows on you?”
This phrase would be used to perfectly describe why the mere exposure effect works the way it does. Many brands keep this phenomenon in mind whilst bombarding people with their advertisements.
6. “Others are doing it, so will I” mentality
When you see an empty restaurant on a Saturday night, which thought hits you first? “The restaurant must be no good,” right? This is your tendency to conform to the society talking.
We look for reassurance from people around us. Believe it or not, humans give this a lot of importance, be it knowingly or unknowingly.
7. First a small yes, then a bigger yes
The Foot-in-the-door technique has been used since ages to prey on consumers. It basically means when people say yes for a little thing, they are likely to say yes again, perhaps for a bigger thing. Talking from a sales and marketing point of view, if your client agrees to a small request like a quick meeting, he will more likely to crack a deal with you.
If you have got too much on your plate, you can always count on perhaps a marketing agency like Mighty 8th Media to figure out such consumer mannerisms.
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