To be successful, digital marketers must frequently be exceptional psychologists. Understanding what makes people tick and strategically placing psychological triggers in the right places can significantly increase conversion rates and improve marketing results. The following are 7 critical psychological lessons that you should incorporate into your digital marketing strategy as soon as possible to improve your results. Of course, it goes without saying that these lessons should only be implemented for enhanced engagement if they have been adequately calibrated through careful experiment calibration.
What is the definition of marketing psychology?
Applying psychological concepts and human behavioral research to your marketing and sales strategy is what marketing psychology is all about. It frequently entails identifying trends in customer behavior and determining how this affects their purchasing decisions.
It’s all about figuring out how and why customers act the way they do, and more crucially, how you can use that information to increase sales and conversions.
What Role Does Psychology Play in Marketing?
Psychology is all about getting to know your potential customers and persuading them to buy something in marketing.
We’ll go through each physiological theory and how it affects consumer behavior, as well as real-world examples of how these methods were implemented.
How Can Psychology Be Used in Marketing?
1. Emotional marketing
Emotional marketing is a method of marketing that uses emotions to sell products.
There are two types of techniques that influence consumer purchasing decisions:
Marketing that is rational in nature promotes the quality and usefulness of the product, emphasizes the benefits, and is aimed at the sound or logical consumer. On the other hand, emotional marketing targets individuals and emphasizes tone, lighting, and mood to increase consumer loyalty while also increasing conversions.
It has been demonstrated that consumers make purchasing decisions based on their feelings and emotions rather than rational information about the features and properties of things. As a result, keep in mind that customers will be more loyal to businesses that elicit an excellent emotional response. Incorporate your newfound knowledge into your content marketing strategy, and create content that:
- Inspires excitement and interest.
- Reminds people of important events– Sparks conversations, reactions, and engagements
- Apple is an excellent example of a business that connects with its customers through their emotions, increasing brand loyalty.
A common theme in Apple’s marketing methods is instilling a desire to become an active participant in a lifestyle movement, to be a part of something bigger.
When Apple launched its Instagram account, its #ShotoniPhone campaign perfectly embodied those ideals. Instead of focusing on glitzy product images, Apple encourages ordinary people worldwide to share their iPhone photographs with their friends and family.
2- Social proof
When it comes to influencing and convincing customers, social proof is one of the most powerful tools at your disposal. It is based on the idea that people are naturally drawn to imitate the actions of others. We have a tendency to adopt the beliefs and behaviors of people we respect.
Use the following methods to incorporate this knowledge into your marketing strategy:
- User-generated content, testimonials, and reviews – the use of influencer marketing
- Social media plugins and sharing buttons are included.
3- Restricted intelligence
Restricted intelligence theory was developed to assume that people may experience a story they read or hear as a personal experience as if it were happening to them. Dry information and data, according to the study, are easily forgotten by people. To make your message memorable, weave it into a story that your customers can relate to.
Keeping this in mind, you can improve your CRO marketing by doing the following
- Speak to your audience in a friendly manner
- Telling stories that people can relate to
- Giving an example of a personal story or experience
High Brew Coffee is an excellent example of a personal story that allows the audience to connect with the company and invest more. David Smith, the company’s founder, has recounted his and his wife’s account of how they came up with their business idea for the first time. When they tell the story, they tell the audience where it comes from: a long journey through the Caribbean with their entire family.
4- The paradox of multiple options
Allowing customers to make their own decisions can benefit your marketing efforts. On the other hand, having too many options can make customers feel anxious, lowering conversion rates. According to psychologist Barry Schwarz, offering customers a limited number of options reduces their anxiety and better marketing results. Take advantage of your knowledge by doing the following:
- focusing on only a few key points at a time
- Creating clear call-to-actions
- Give your clients no more than two distinct paths to take.
5- The concept of information gaps According to George Loewenstein
When people detect a gap between what they know and want to know, they experience a powerful emotional response. This means you must pique your audience’s interest and provide them with content that will satisfy their thirst for knowledge on your topic. Creating compelling headlines is an excellent way to incorporate them into your content marketing strategy.
6- The Theory of Commitment and Consistency
This is a behavioral theory that emphasizes dedication and consistency. According to this decision-making theory, when you make a minor commitment to something, you are more likely to say yes to a more significant commitment in the future.
Customers are more likely to make a larger commitment, such as making a purchase or joining your membership program, if you can persuade them to make a small commitment to your brand, such as signing up for a newsletter.
Beginner commitments such as:
- Soliciting clients’ contact information by inviting them to sign up for an email newsletter
- Encouraging prospects to share your material on social media will help you develop your marketing plan over time.
- Invite them to sign up for an e-book or webinar on your topic.
Another effective strategy for increasing engagement is to offer consumers the opportunity to participate in free trials. Through extensive A/B testing, the software company Teamleader increased the number of people who signed up for their free trial by approximately 13%.
7- The Loss Aversion Hypothesis
When it comes to people, loss aversion theory refers to their proclivity to avoid losses rather than earn gains. The negative emotions associated with failure are twice as powerful as those associated with rebirth. You can effectively use this concept to your advantage if you evaluate your audience, learn about their anxieties, and then design content that emphasizes the benefits of your business while alleviating their fears, as described above.
There are numerous keyword research tools available to help you better understand the questions that people are asking. Various analytics tools can help you determine the most effective strategy for dealing with your audience’s problems and whether or not you have adequately addressed their questions. Using these tools, you can learn how people connect with your material. You can understand which channels they use, what type of content interests them, and what information does not. Make use of them to improve the efficacy of loss aversion theory implementation.
- There are web analytics tools available, such as Google Analytics and Google Trends.
- Engagement analytics solution for social media platforms such as Facebook, Twitter, Google+, and LinkedIn.
Applying psychological theories to your marketing communications can help you improve the effectiveness of your marketing tone of voice without the use of different technologies or large sums of money.
You can better understand your clients, know how they think, and create content that cuts through the information overload we face by applying the theories discussed here.
However, to be effective in this endeavor, one cannot conduct random experiments. Improvements in conversion rates can only be realized through calibrated experimentation and testing in conjunction with these theories.