A mistake that many entrepreneurs make is thinking that having a great product is enough. Great products don’t sell themselves unless you’ve already established yourself in your customers’ minds.
To take your business forward, it’s essential to understand how people think and what influences their buying decision. Believe me when I say that you can sell anything, regardless of the price, as long as you use the right psychology hacks.
You can use these hacks in any aspect of your business – whether that’s content marketing, social media, or advertising.
Dr. Robert Cialdini introduced the concept of reciprocity in his book, Influence: The Psychology of Persuasion. Here’s how reciprocity works: If you do something for someone, the person on the receiving end feels compelled to give back.
Has a friend ever helped you in a difficult time in your life, and when you overcame the problem, you promised to return the favor? That’s reciprocity in action.
There are many ways to make use of reciprocity in business. One is to write quality guest blogs for other websites. Happy site owners will return the favor by sharing that post more often. Another idea is to offer lead magnets, such as an ebook, on your website, in exchange for people’s email.
2. Social Proof
If you’ve ever made a decision based on what the majority of people thought was correct or true, then you know what social proof is. The principle of social proof tells us that we naturally gravitate towards what others prefer, and it doesn’t matter whether we’re familiar with these preferences or not.
That explains why customers are inclined to reading or watching product reviews before proceeding to make a purchase.
To get your target audience to choose you over the competition, use social proof marketing techniques such as using displaying customer testimonials in your ads or on your website. Collaborate with industry experts for your social media events. Encourage your users to use your branded hashtag on Instagram.
3. The Fear of Missing Out
If you’re looking to drive more sales, use FOMO. FOMO stands for the fear of missing out. It’s a phenomenon that’s common among millennial consumers and social media users.
Using FOMO in your marketing triggers feelings of wanting to buy because a consumer doesn’t want to miss out on an opportunity. That opportunity can be a discount, a limited edition item, or a holiday sale.
Some brands use FOMO effectively by showing the name of their recent buyers, product reviews, and other customer behaviors in real time. Amazon, the largest e-commerce company in the world, practices FOMO by placing timers below their “deal of the day” items.
Isn’t it that when you lack knowledge in something, you seek an authoritative resource to learn more? In the business world, customers are willing to listen to brands who are competent enough to address their pain points.
How can you develop authority in your own niche? For content marketing, this would mean creating high-quality blog posts, videos, and podcasts that your target audience can relate to.
If you’re constructing an About page for your company, you can nail your authority by mentioning your accomplishments, prominent people you’ve worked with, or places where you’ve also been featured. Getting your name published online is also a great way to build your authority.
Words that vividly describe a scenario are more likely to spark conversions among readers. Stories are powerful tools because they have the ability to tap into people’s emotions, especially when people can identify with the main character or “hero” in the story.
For you to be able to develop a powerful story, first, you need to gather insights about your audience. Who are they? What are their likes and dislikes? What keeps them up at night? Where do they often hang out?
Next, follow a logical storytelling formula. Start by introducing a problem experienced by your main character (your customer). As your story progresses, show the main character using your proposed solution and getting desirable results from it.
Personalization is all about creating messages that appeal to your audience’s individual preferences. Information that you gather about your potential customers is priceless because it enables you to launch marketing campaigns that get a higher response.
A common usage of personalization is a brand calling its email subscribers by their first name. Another example is making product recommendations or showing content to your audience based on their previous behaviors on your website.
Coke’s “Share a Coke” campaign in 2014 sparked massive shares and stories by people who saw their names on Coke bottles.
Making sure that your brand succeeds doesn’t have to be a struggle. Turning your audience into raving fans and customers is possible with these psychology techniques. Start by gathering accurate data about the market you operate in.