An important element of marketing is engaging with consumers emotions. This can be done through the use of images, storytelling, persuasive statements and compelling copy. If you can engage a potential buyer emotionally, then they can unconsciously rationalize their decisions.
Marketing is no longer about the stuffs you make but about the stories you tell. Being able to tell a compelling story lies in being able to convince the person being told.
PSYCHOLOGICAL PRINCIPLES TO INCREASE CONVERSION
According to Pardot, the way consumers interact with products / services is determined by a ‘pattern of behaviors which are derived from a set of psychological principles which include;
SOCIAL PROOF: Nobody wants to feel like an outsider from a social group. Sometimes, the behaviors of others influence our decisions. If a customer feels like their friends approve a brand or product, they will feel a desire to approve as well. For e.g. positive reviews at conversion points and shares on social media are ways of influencing favorable customer decisions.
LOSS AVERSION: Humans are terrified of loss. We try to avoid loss as much as we can and it motivates the decisions we make. Your marketing strategy can benefit from creating a perception to your audience that there is a potential loss in not taking the action you required of them. A good instance would be using phrases like “Limited stock available” or giving a discount for just a day.
ANCHORING: The human brain is constantly looking for comparisons. Individuals use the first piece of information they receive to make choices. For example, bargain hunters who shop for sale items that cost much less than it’s worth or when you get the chance to buy 2 for the price of 1.
60% of Millennial will buy a brand that isn’t their favorite if the price was right – Wall street journal
FOOT-IN-THE-DOOR: Humans are social beings and we tend to be compelled to honoring a bond when we create a new social connection. Basically when a consumer ‘opts-in’ to something small then it’s hard for them to say ‘no’ later. A typical example is when you interact with fans on social media and they respond to you, it creates an affinity for the brand and they are more likely to consider you in their next purchase decision.
People are driven to keep their actions in line with what they have done or said in the past. We don’t have the energy to evaluate every decision in isolation- so we use past decisions to inform future ones.
AUTHORITY: As humans, we tend to trust people who we perceive as leaders or figures of authority. That is why many brands take advantage of online influencers, celebrity endorsements and also share relevant content to establish thought leadership. ‘Authority’ is powerful.
No matter how much technology advances, the triggers behind human behavior remain the same. With the right planning you can use psychology to increase conversions and improve your bottom line.