7 reasons why marketing experts study psychology
Many marketing experts, including Neil Patel and Dian Brian, have used statistics and psychology in marketing. And as a result of psychology, they have generated enormous sales and growth.
What connections exist between psychology and marketing? As well as between psychology and a website that offers marketing-related educational resources?
Psychology and marketing have something in common. Both of them aim to comprehend people’s drives, requirements, aspirations, and reactions. Psychology has learned more about the psychological factors that influence how we behave as consumers. Marketers who incorporate insights from consumer psychology into their platforms are better able to communicate with customers. And as a result are able to move them through the buying cycle more quickly.
Marketers can incorporate these insights into their programs without reading and researching consumer psychology studies. They do that by applying the following seven psychology concepts:
1-Persuasion Architecture concept:
Persuasion architecture is as simple as using a design (in an email message or website) to help direct and convert a visitor. In order to transform, one need only click a call-to-action, read an article, go to the website, or receive an email. Your design should be as straightforward as possible. If you want to use persuasion architecture effectively, the customer will easily follow the conversion path. There are two ways to do this:
-Less obvious visual cues that act as implicit directive hints include line-of-sight, colour, size, and shape of objects that implicitly prioritise via visual weight.
-A line, arc, or curve that points directly to the Call to Action are examples of explicit directive hints.
Although people are aware of the value of making “rational” decisions, the majority of them subconsciously make purchasing decisions based on their emotions. And then find a justification for their purchase after the act.
It is crucial to explain to customers the benefits and features of your goods and services. In addition to that, it is crucial to consider their emotions and make an effort to appeal to them throughout the marketing process. This can be accomplished using images, stories, a potent description, or a memorable marketing slogan. Many TV advertisements that create a narrative around the product rather than attempting to sell urgently serve as an example of this. Your chances of converting emotional buyers increase when you emotionally engage your audience.
The concept of social proof states that people are more likely to act in a particular way if they see others acting in that way. Or if they are told that others have acted in that way. It is more related to peer pressure.
A few examples of how social proof can be used to persuade customers to make purchases include using statistics to show them what other customers have done to them. Another example is offering a particular reward.
4-Scarcity and the loss aversion:
At the most fundamental level of human behaviour, there are two primary motivations: avoiding pain and experiencing pleasure. These two drives result in the ideas of scarcity and loss aversion. They are fundamental to every human action.
People are more likely to make a purchase when there is a limited supply of a product or a short window of time to take advantage of the best deal. As a result, when told that a product or special offer won’t be around for long, consumers act quickly. They will want to experience the joy of receiving the offer rather than the pain of missing out. Marketers can use this concept to create promotional offers that have an expiration date counter. In addition to that use words like “limited edition” or “don’t miss out.”
5- Concept of Exchange of benefits:
The principle of mutuality or exchange of benefits is based on the idea that one aspect of human nature is a reluctance to owe money to other people. Marketers must provide customers with something of genuine value if they are to effectively apply this principle.
Providing genuine value encourages customers to accept you in exchange for something else. This principle is typically used by marketers to grow their email list, provide discount codes or special access to particular content in exchange for customer contact information. By doing it this way, you can get the information you need without bothering the buyer.
6-Commitment and Sticking concept:
According to the commitment and sticking principle, human beings have a strong desire to be believed and to keep their word. If you can persuade a buyer to publicly commit to something, they are more likely to follow through on it in the end. Because most people dislike saying one thing and then doing another. For instance, increasing the likelihood that a customer will stick with your brand by having them join a rewards program or “like” or “follow” your social media page.
Heuristics, a well-known cognitive bias that describes a person’s tendency to base their decisions heavily on the first piece of information they are presented with, are what lead to anchoring (the anchor). This tactic enables customers to make decisions more quickly and without pausing to consider all of their options.
When faced with multiple options, customers search for a foundation upon which to base their choice. This foundation is known as the anchor. The promotion of a product in a discount offer with its original price next to the price after the discount is an illustration of the anchoring effect. The original price will be visible to buyers, who will use it as a standard for determining how good the price will be after the sale.
Applying these strategies from consumer psychology to your marketing campaigns will help you draw in customers. Also you will be able to both shorten the buying cycle, and increase brand loyalty.
The social guide should be placed at the top of the website. An alarm clock should be placed to notify visitors that the offer has ended. And the anchor should be placed where it belongs. Make sure to abide by the psychological laws of marketing.
You’ll also see that a lot of operations were successful because you combined marketing and psychology.