If you have been associated with psychology, you must have been asked that one undying question – “Can you read my mind?” And if you have not been associated with it directly, you would have wondered or even asked someone with a psychological background the same question!
No matter what the condition, this question is proof in itself of how psychology has advanced remarkably to provide us meaningful and beneficial insights about the human mind. While one cannot practically read minds, the thoughts, behaviours, approaches, and reactions to certain things do tell a lot about the human psyche in different situations.
And the marketing industry has been using these insights about the way consumers react, think, approach and behave towards a product or service or in a market to their leverage for years!
If you have been wondering what the best psychological marketing tactics are that can make your business successful, read our article to know more.
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10 Best Psychological Marketing Tactics
Psychological marketing tactics are sometimes also referred to as ‘consumer-centric practices,’ which they in a way are, but the reasons are very different. When you say consumer-centric practices it gives a sense of trust and reliability to the consumers that they are taken into consideration.
If you use the phrase psychological tactics, some consumers are without a doubt going to question your approach towards them and might think you are psychologically manipulating or tricking them into buying from you and have a negative impression, when it is not at all the case! So while you are going to use the following tactics to grow your business, be mindful of how you present yourself to your customers:-
1. FOMO Is For Real
For those who don’t know what FOMO is, I think you are missing out on something! Relax, it is this very feeling that you might have experienced for 2-4 seconds. FOMO is nothing but Fear Of Missing Out. It is one of the most useful tactics for marketers which they put to use by first identifying a set of potential leads that may convert easily.
Then the focus shifts to a sense of belonging and membership. This group of target audience is then exposed to content carefully written to trigger that sense of losing out on great deals through captions like “exclusively for members” or “invite only” and more to convince them to participate in the deal before they miss it!
2. Jingles At Play
If I say “I’m lovin’ it!” What do you instantly think about? McDonald’s of course! Did you have to think twice or ponder over those three words? No. And that is how marketers and advertisers can help customers recall their products over a long time. Jingles are nothing but compelling sound content that are usually a part of commercials.
These jingles are created in such unique and interesting ways that they get stuck on the consumers’ minds and they remember your products for a long time. This phenomenon actually finds its basis in the famous Ivan Pavlov’s Classical Conditioning experiment on a dog. If you are able to establish a link between your brand and the jingle, you can ace this tactic.
3. You Have Been Framed!
Hey, relax! We don’t mean it literally… but have you heard of the Framing Effect? This is yet another common psychological marketing tactic that businesses use very frequently. The framing effect is also at times referred to as priming and aims at presenting the product in such a way that the customers are more receptive to the message and more likely to buy it.
Here’s an example to understand this better. While displaying certain food products, marketers are more likely to write things like “90% Fat Free” instead of “10% Fat;” or in the case of healthcare products, it may be presented as “Recommended by 8/10 doctors” instead of “8/10 doctors do not recommend.” This presentation of content has a direct impact on the way consumers are thinking. You therefore need to be very careful when picking out the frame to target your customers and help them understand why your product or service is best.
4. Colours Have More Control Than You Know
Colour psychology is for real! And colours tend to impact and control the way you process certain things and your approach to brands and their products and services. Colours play an important role when it comes to decision making and critical thought in the subconscious. For this reason, the colour theme on your website acts like a psychological tool for customers.
Colours hold importance in marketing and influence purchase decisions because it is one of the primary factors in which humans experience the world. Some common colour generalizations in marketing are: black is taken to be a colour for expensive goods and luxury; red, orange and light blue is often associated with impulse buying (that’s why the majority of CTAs are red, duh!); blue tends to instill trust in buyers.
5. Scarcity Scares!
Scarcity is in line with the FOMO effect. The scarcity scare or effect is what drives the market to sell luxurious items. People want to have things that are scarce and ones that not everyone can have. It gives them a sense of privilege. As marketers, creating scarcity around your product can increase the demand of the product or service. Humans associate more value to scarce items and that is exactly why this strategy works well.
However, you need to understand the difference between “there’s only a limited total stock” and “due to high demand, there’s only a limited stock left.” When you propose that your total stock is limited and the production in the first place is less, unless your brand is always in high demand, you may seem ambiguous to your consumers. But when you use the latter, you are likely to get more sales because consumers would associate more value to it and may be interested in knowing the reason behind high demands.
6. Baader-Meinhof Phenomenon
While the tactic seems complicated because of its name, it really isn’t as complicated or difficult. This phenomenon is also known as the Frequency Illusion effect. Now this works in a way that when you are involved with a particular thing or products/services, you start noticing it almost everywhere. An example of this would be that if you plan on buying a particularly unusual home appliance, you may see it more frequently and may come across its references more often.
Why does it happen? The psychological concepts of selective attention and confirmation bias are at play! When customers visit your website, they are likely to see your advertisements more often when they are on the internet. Now this is likely to give them an illusion that you’re a huge brand and your influence is far reaching! Using online pixels is responsible for this digital effect. And that is the Baader-Meinhof Phenomenon for you!
7. Emotional Strings Of Success
As far as consumer behaviour is concerned, people tend to react more positively to products and services with an emotional appeal instead of an intellectual appeal. The logic behind this is simple. Consumers are more persuaded to purchase products and services that can benefit them in a more meaningful way. Therefore, while talking about the features of products and services is necessary, successful marketers seal the deal with some emotional appeal!
Study from University of Southern California elaborates on how emotions are an essential factor influencing the decision-making process. When faced with a situation where one needs to come to a decision, the related past experiences give a value to the emotions experienced. So if you are able to trigger positive emotions through your marketing or provide solutions to emotional problems for your customers when marketing your products, your chances of converting increase in plenty.
8. Discounts Work Wonders
Discounts can work wonders for your marketing efforts; especially if the discounts are for a “limited period offer.” Discounts can increase your click-through rates and definitely get more visitors on your online store. Discounts often translate as bulk shopping to consumers, and they are surely more ready to purchase products if they get even a small discount.
Did you happen to participate in the Great Indian Sale on Amazon? Or any other festive sales on other e-commerce sites offering big fat discounts? If your answer is yes, you probably get it! When it comes to discounts, an interesting strategy that you can use as a marketer is strike-through pricing. All you need to do is write the old price in big and bold fonts and strike it off and mention the new price against it in a smaller font. The way the prices are displayed tends to influence the purchase decision.
9. Foot-In-The- Door
The foot-in-the-door is another favourite in the psychological tactics list of marketers. The foot-in-the-door method is a psychological tactic in which a brand or a company asks for a small commitment from its customers. His may be in any form but mainly it involves making purchases.
However, the aim is not just to sell. This smaller commitment is asked of the customers to get them to agree to even larger commitments with the brand in the future. A very common example is free trials in almost all digital services. The term “free” acts as an emotional trigger and makes it difficult for the majority of individuals to say no to such offers.
10. Less Is More!
A lot of marketers think that by giving their customers a lot of choices, they have better chances of successfully selling their products and services. Turns out, there is little truth in it! This is because of the psychological phenomenon of over-choice.
This psychological phenomenon occurs when a lot of choices for a purchase may become overwhelming for the customer and they may experience fatigue and confusion. Due to this customers are less likely to make a purchase. There is also a fear of making a wrong purchase decision. So it is best to give fewer choices because less choice means more sales and conversions!
What are the importance of buyer psychology and buyer behaviour in marketing?
Marketing is based on psychology and behaviour. They help marketers understand why consumers behave in certain ways when they purchase products or services. Marketers can create effective marketing strategies that appeal to their target audience by understanding the psychological factors that drive consumer behaviour.
Here are some reasons psychology and behaviour are so important in marketing –
Understanding customer needs:
Psychology and behaviour research can help marketers to understand their audience’s needs and wants. These insights can be used to design products, services, or marketing campaigns that address these needs and wants.
Marketing strategies that work:
Marketers can develop more effective strategies by understanding the psychological factors that influence consumer behaviour. Marketers can create campaigns that leverage these principles by understanding how scarcity and social proof influence decision-making.
Marketing strategies for increasing brand loyalty. By understanding the psychology behind customer behaviour, marketers can create strategies to increase brand loyalty. Marketing campaigns that are positive and elicit positive emotions can result in increased brand loyalty.
Marketing can improve customer experience by understanding the psychology behind customer behaviour. Marketers can design websites and sales funnels that reduce cognitive biases to help customers make informed decisions.
Marketing behaviour and psychology, in short, are essential because they allow marketers to understand the wants, motivations, and preferences of their target audience. This information can be used to develop effective marketing strategies that increase brand loyalty and improve customer experience.
We hope this article was helpful for you in understanding some interesting psychological marketing tactics that can turn your business around for the better! Want to know more psychological tricks? Let us know and we’ll be back with more!