9 strategies to attract customers!
In this modern world of market saturation and information overload, it has become more important than ever to understand your customers and their needs.
To be successful as a business, you should always try to understand and anticipate what the customer is thinking, so that you can meet their needs and expectations.
Understanding the customer leads to brand loyalty and can help your company stand out from the rest.
In this blog, we will talk about the psychology of marketing, its importance, and the different types of marketing psychology that can be used to drive higher sales.
What is the psychology of marketing?
Marketing psychology refers to the use of the principles of psychology in real-world business applications such as sales, content creation, and overall marketing strategy.
These psychological principles are loosely based on understanding clients’ minds and the subconscious decisions they make in response to certain stimuli.
Take a look at these 8 amazing psychological techniques you can implement in your marketing plans and watch your business grow!
9 strategies for using marketing psychology to attract customers
1. Information gap theory
It may seem basic, but curiosity is one of the best ways to drive customers to your business. When there is a gap in the knowledge that consumers have and want to have, they turn to external sources for information.
Many companies make use of this to carry out content marketing; Publish articles related to your niches to drive traffic to your websites.
Once knowledge is given away for free, readers are more likely to trust the brand and look for other things they offer. This could mean clicking on other articles or looking at the products or services they offer.
This extends to other channels such as social media, where companies provide informative posts on Instagram or Twitter, with links to the full article on their blog.
2. Fitt’s Law
Fitt’s law is a predictive model that talks about the factors of motion that impact speed. It has a variety of applications in ergonomics and designs. In the marketing and design space, it is essentially a scientific approach to understanding user interface and mouse movement.
Fitt’s law states that there are 2 factors that affect the time it takes to move the cursor to an area: the distance to the target and the size of the area.
It has been found that if a business wants to increase sales or subscriptions after a user has entered their website, they need to enlarge the buttons or decrease the distance between items.
On the other hand, if you want to steer people away from an action, say, for example, the “unsubscribe” button, you have to make it smaller and place it in a distant corner.
Implementing this law in your website design can have a huge impact on conversions!
Read More: 14 Best Marketing Software To Grow Your Business In 2021
3. The principle of reciprocity
The principle of reciprocity states that this is a karmic universe; The more you give without expectations, the more you will receive in return. If you help people without expecting anything in return, they will automatically trust you and are more likely to do something positive for you.
This theory is valid in commercial and marketing applications; If you provide free and informative content on your blog or YouTube channel, your audience will automatically be drawn to other things you have to offer.
Providing value for free acts as a lead generation tool and also helps educate customers in your niche. Therefore, you are not only drawing attention to yourself in a genuine way, but also helping the community at large.
For the reciprocity principle to be more effective, it has been researched that the goodwill created must not be too valuable or expensive, or customers will undermine its value. It also helps when goodwill comes as a surprise rather than an expectation – providing value when least expected.
4. The golden ratio in design
Humans are visual creatures and we cannot deny the role that aesthetics play as we make our day-to-day decisions. Unconsciously, being attractive increases trustworthiness and likability. We like to choose things that are pleasing to the eye and this also applies to design.
Research has shown that there are certain proportions that look more pleasing to the eye than others. This theory, known as the golden ratio, is derived from the Fibonacci sequence, which is a ratio seen in various aspects of nature, such as seashells, galaxies, flowers, and more.
Most of the beautiful things in nature follow this ratio, and this should also be extended to marketing design. The golden ratio can be used to decide the proportions of the website layout, such as the width of the columns, the length of the margins, the height of the lines, and the font sizes.
This will attract more audiences that visit your website and they will be more likely to make purchases on your website.
5. Foot-in-the-door theory
Foot-in-the-door theory talks about the impact consistency has on sales conversion. Before we dive into the implications of marketing, let’s understand how this theory came about.
The first study of the foot-in-the-door theory was conducted by Jonathan Freedman and Scott Fraser sometime in the 1960s. They posed as researchers and called in many housewives to understand the household products they use.
A few days later, they called them again but asked if they could send a group of workers to their homes. The goal would be to manually record the cleaning products present in their homes. The study concluded that women who responded positively to the first phone call were twice as likely to respond to the second call.
In marketing, this means increasing the contact points between you and the customer. The more customers read your newsletter or comply with your request, the more likely they are to perform more important tasks, such as sharing your content or purchasing your product.
6. Theory of scarcity
Humans are known to want things that are limited in quantity, as we unconsciously associate low availability with high value.
Therefore, the scarcity theory suggests that when consumers fear missing out on a deal, they feel like they are running out of high-value products and options. Therefore, they will be more likely to buy your products.
Real-world marketing applications of this concept include sales on Black Friday, Thanksgiving, Christmas, and more. For nearly a century, retailers have used these days to create a feeling of deep discounts, they must get value deals, leading to big sales.
Another misleading way that companies use this theory is by advertising low stock levels, which is prevalent in e-commerce and dropshipping companies. When potential customers see that there are only a few units left, they are more likely to make the purchase right then and there.
7. Push theory
Nudge Theory was primarily developed by Richard Thaler and talks about encouraging your audience to make the right choice in a subtle way.
The theory refers to the choice of architecture in a way that leans subtly toward one option, but does not significantly change the economic incentives. This theory has a wide variety of applications in sales and marketing.
For example, in pricing strategy, you often see two options: one that is really expensive while the other is cheaper but with almost the same number of features. This makes customers lean towards the second option, as it seems like a bargain.
Thus, you can indirectly convince customers to buy a particular product by positioning it as more valuable compared to others. Therefore, it becomes a win-win situation.
8. Impact of social proof
It is no secret that we are attracted to things that have been supported by others.
Social proof occurs when people are influenced by the experiences and actions of others, which attract them to a particular situation, company, or product.
The most prominent example of social proof is customer testimonials, which involve reviews from satisfied customers. Most companies back reviews with actual photos from reviewers to authenticate them. Additionally, many B2B companies add prominent customer names to their home page to reinforce their social proof.
Another unique method of building social proof is through social media. Businesses that regularly post informational content can build a large following on social media.
When other consumers see a large following, there is an immediate sense of respect and curiosity etched into their minds. Another way that companies use social networks is by showing the number of articles shared on Facebook, Twitter, Instagram and LinkedIn.
Therefore, your social popularity immediately conveys the level of appreciation that people have for your brand.
Read more: 2021 Content Development Guide – A Must Read!
After reading these different psychological marketing strategies, we hope you understand how important it is to understand the customer. Making small changes to your sales, marketing, and design policies can increase conversion rates exponentially.
However, keep in mind that you need to see what works for your business, as each industry is different and has different requirements. It is important to try and test new strategies to find out which one is best for you.
Also, make sure you can identify the source that leads to higher conversions, so try implementing a new psychological theory at once!
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