The root of marketing is psychology. There’s no denying it. Knowing how your consumers may react or how to influence buyers to make a purchase is vital to your business’ success. 🧠
Psychology in marketing is not about tricking your customers. It’s about instilling emotional responses that encourage them to make an opinion or decision.
Like most marketers, we spend a loooooot of time on Twitter. We recently noticed that Chase Dimond, a $100M marketer, shared his tips on “10 psychology principles that will make you a better marketer” and we thought they’re too good not to share.
Buckle in. This is some heavy-hitting knowledge. Let the thread begin! 🧵
💬 Gather social proof
This one may seem obvious, but shoppers are more likely to buy when they see that other people are already loving a product. Major FOMO alert!
Ask your customers for testimonials, case studies, shoutouts, and reviews.
Take that social proof and dangle it front and center. Include it on your website, product pages, social accounts, and emails!
🛍 The decoy effect
Did you know that people presented with two options to buy will have different opinions than people presented with three?
Here’s what Chase suggests: if you’ve already got a product that has two pricing options, add a third! If you already have a third option, increase the price!
Check out this example:
🤫 Scarcity
It’s no secret that shoppers LOVE exclusivity. Limited edition drops, limited quantities, VIP groups, and special products are a great way to make customers feel unique.
As Chase said, “The rarer the opportunity, content, or product is, the more valuable it is.”
⚓️ Anchoring
With the amount of information online these days, people need something to hold on to. A north star or source of truth can be the element shoppers need to push that ‘buy now’ button.
If you’re running a sale, make sure that shoppers aren’t only seeing the sale price. Clearly show them what the price was THEN vs. what it is NOW.
😔 Loss aversion
Psychology has taught us that humans are more fearful of losing out than they are excited about gaining something.
We often think it’s best to show customers all the cool benefits they get from using your product, but switch up the angle and show them what they could miss out on!
Here’s an example from Einstein Marketer on shifting your language to play into loss aversion:
🎨 Color psychology
Colors are linked to feelings, emotions, brands, and products. Ultimately, the colors you choose to showcase in your marketing could greatly impact the way people think of your brand (and whether or not they choose to make a purchase)!
Check out how brands use colors, and the emotional responses attached to them, to connect with customers here!
✅ Law of least effort
Sure, if you’re a math wiz, you can put pen to paper and solve an equation… but most people would choose to use a calculator instead. Why? People are constantly seeking the simplest solution.
In marketing, the law of least effort is most compatible with your checkout process. Ensure the steps needed from choosing to buy to order confirmation is as simple as possible for shoppers to reduce friction.
Another great use case? Make sure customers can easily find the answers to their most common questions. Have answers to questions that arise about products or processes on your product pages or present a link to your FAQ page!
🤔 Paradox of choice
How many times have you walked into a store to buy a piece of clothing, been overwhelmed with the decision process, and left with nothing? We’re definitely guilty of this one! 🙋♀️
It feels like there’s so many options, but nothing seems to completely check all your boxes.
The more choices shoppers have to choose between, the less likely they are to actually choose one!
Check this out:
⚠️ Urgency
Shoppers are less likely to ummm and ahhh on a decision when they feel like their time to make a decision is limited. Even if purchasing your product doesn’t have to happen today, sometimes instilling an artificially created urgency play is the best way to go!
Chase suggests using “deadlines, countdown timers, and price increases to add urgency to your product.”
🤝 Reciprocity
We all like free stuff. When a brand gives you a free perk, you’re more likely to remember the effort they put in and return it!
The same works for conversions. Give shoppers something upfront and hope they return the favor. This could include providing a discount code, a free e-book, a website audit, or a guide.
