Using psychological techniques, successful marketers attract, convince, and convert prospects because people don’t decide on their own—they are tricked into making a decision in a brand’s favor, who is smart enough to apply marketing psychology in their campaigns.
There’s the marketing psychology which plays a role in differentiating a successful marketer in the market. Firstly, it is the impulse buying which happens because of the store environment, the presence of irresistible offers and behavior mood. A marketer needs to offer people an overwhelming purchasing experience that illuminates their desire to buy impulses.
Secondly, marketers should use priming. To illustrate the power of priming, in 1999, an experiment in a grocery store was conducted by playing French and German music on alternating days and then calculating the sale of French wine versus German wine. Interestingly, on days when French music was played, French wine was sold more and more German wine were sold when German music was played.
Thirdly, marketers have to be smart to deploy reciprocity technique in their strategy. Fourth, a marketer should have an understanding of what content creates excitement before they start measuring the results of your content marketing.
Fifth is the ‘fear of missing out.’ Marketers should employ this principle to display their stock levels of the inventory on the product page, add clock beside the offered deal and also display some bag count to inform the customers. All these add value in pumping up marketing ROI.
The next aspect is the Loss Aversion; marketers should focus on how can customers do not want to lose ownership of products or services. For instance, Netflix is using a 30-day free trial, and people don’t want to miss their purchase at the end of 30 days, resulting in paid membership.
Marketers should not forget these basic principles relating to marketing psychology and can try to apply them wherever possible. Powerful marketing campaigns are always driven by psychological principles which influence the behavior of consumers.