Psychology and marketing are more closely linked than you might think. Consumers are not (contrary to popular belief) just sheep that will buy whatever we want them to buy.
They have wants and needs that often exhibit themselves in some rather complicated psychological ways.
If you’re a business that’s looking to gain some traction in an increasingly competitive marketplace then understanding a little more about what makes your potential customer’s tick could be the differentiator that helps you to make that bold step forward.
There are a number of psychological behaviours that brands have capitalised on over the years to convince consumers to shop with them.
These include but are not limited to FOMO (Fear of missing out), time-sensitive sales such as the recent Black Friday event (which saw 53% of shoppers looking for deals) and social media endorsement campaigns.
Combatting cognitive bias is a way in which brands can reach new audiences and convert potential customers by informing them of the value for money, quality, and trustworthiness of their products. However, this is easier said than done.
When everyone is trying the same ideas, how can you use your creative powers to utilise consumer psychology without taking advantage of it and coming across as manipulative?
Embrace the dopamine rush
The thrill of getting a lightning deal from Amazon just as it’s about to end or landing the final bid on an eBay item mere seconds before the auction closes will release a burst of juicy dopamine into a consumer and dopamine feels great!
If you can find subtle ways to create these dopamine hits in your online and offline channels you’ll be onto a winner!
Reward customer loyalty
Consumers like to feel as if they are special and are being treated well by a brand. If they are made to feel like they ‘belong’ with your brand and are being rewarded for choosing your brand time and time again over another, reward them with something.
We’re not just talking about a loyalty program based on points here, but genuine offers and experiences only available to your most valued customers.
The more familiar a consumer is with a brand or a product; the more interested they will be in it and the more likely they will be to have a positive opinion of it.
Understanding consumer behaviour is all well and good but they have to build a relationship with you first.
Know the stages
There are 5 stages of every purchasing decision. First, you need to grab their attention, then hold their interest, then you need to guide their consideration through to the final decision and then action phase.
If you can control every step of this consumer journey then you can control what your consumers should be feeling about you and your offering. It’s an incredibly powerful tool!
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