Marketing tactics come down to how they make your customers feel and what they perceive is in it for them. It doesn’t matter how good your product is or what pricing plans your organization offers. Getting to know your customers better is crucial, as it can help you grow your business and increase your revenue.
Conversion psychology is all about understanding the decision-making process and your audience’s emotional triggers so you can craft more effective marketing strategies.
It can result in a tremendous increase in your sales and happier customers.
Let’s explore how you can use marketing psychology to boost your conversions.
- The power of reciprocity
If someone gives something to you or does something nice for you, you feel gratitude, and you want to return the favor. This principle is built in our human nature and reinforced through our socialization.
This mutual exchange can be seen in the digital world, too. Getting a discount on a product for sharing or commenting on it is an excellent example of this principle.
To boost your conversions, start with determining what exactly you would like your customers to do. Then, think about how you can reciprocate and what you can give your customer in return.
You can offer exclusive content in exchange for signing up for a newsletter. You can also offer something other than an actual product, like improvement in a specified area of life.
- The tendency to follow the actions of others
This phenomenon is known as social proof. When many people behave in a certain way, we have a natural tendency to interpret that behavior as a correct one and imitate it.
Psychological experiments like world-renowned Asch conformity experiments have confirmed that conformity influences our behavior significantly.
As humans, we want to fit in and be perceived as “normal,” so we are more likely to conform to the majority’s choice, especially if we perceive the group as better informed than we are.
This behavioral pattern can be successfully used in digital marketing.
When buying products or services online, you can’t rely on comparing them, like feeling the quality of two shirts, so you base your decision on other consumers’ experience.
If you showcase your brand’s popularity, it will be perceived as more credible and trustworthy, and it can persuade people that you are a perfect choice.
This is where smart digital solutions can do wonders. A powerful social proof tool can increase conversions and even more. It also builds credibility and helps you save on acquisitions and online ads.
People want to know that others are using a particular product or a service too, so showing the number of people using your offerings act as compelling social proof.
- Scarcity creates a sense of urgency
When you market your offerings as “limited time offer” people will fear losing and missing out on a fantastic opportunity. As a result, they are more likely to make a purchase. This “get something before it’s gone” approach creates a sense of urgency.
Scarcity works because of a cognitive bias known as “Loss Aversion.” People want to avoid losses because the pain of losing is twice as powerful as the pleasure of gaining. In other words, we hate losing more than we like acquiring equivalent gains.
Loss aversion significantly affects our purchasing decisions. People don’t want to feel like they are mission out on an offer, so this bias can help marketers improve product engagement and conversion.
That’s why marketing campaigns like trial periods can be very successful. We want to avoid a potential loss of giving up a product or a service.
When incorporating this tactic in your marketing campaigns, make sure to tailor an easy-to-use, minimal onboarding process. Once you’ve got your customers in, they are more likely to stick with your offerings for the long term.
Also, labeling your offering as one-of-a-kind increases its desirability as buying things that are rare or hard to obtain is important to many people. As a result, you’ll see a massive increase in conversions.
- Likeability is a huge influencing factor
Simply put: people are more likely to acquire products or services from people and brands they like and trust. To increase your conversions, you need to develop confidence and build a relationship with your visitors, and this takes time.
Luckily, there are ways to improve your business’ likeability.
Start with mirroring your customers. Use the type of persona your customers will feel closer to. Include the right images and craft content based on your customers and your offerings. This strategy works since we tend to like people who are similar to us.
Again, images are a strong tool in marketing efforts, especially pictures of people as they add a personal voice to your brand and therefore boost likeability.
Another way to increase your brand’s likeability is to associate it with current trends or celebrities your target audience identifies with.
If you are looking to take your business to the next level, integrating consumer psychology into your marketing efforts is a must! Leveraging these principles will enable you to gain an edge over your competitors.
About the Author:
Keith Coppersmith is a business and marketing expert who has experienced both the rise and fall of many businesses. As a regular contributor at BizzmarkBlog, he enjoys writing and providing insight of the industry based on both practice and theory.