Why Aren’t As Bad As You Think

Psychology and Marketing; A Seller’s Guide to Understanding the Link

To ensure business growth and success, you must ensure as many people as possible know about the products and services you bring to the market and how they can change their lives by investing in marketing as highlighted here! If you want to succeed in marketing like discussed on this site, getting into the customer’s head should be your biggest concern. Taking the steps to understand how consumers make choices will help take your campaign to the next level. Here is a guide to help you learn more on the basic principles you should understand.

Social proof which states that people make decisions based on the way others behave is the first principle you need understand if you want to drive sales; you should invest more in building social proof since clients are more likely to buy a product or service that they see others enjoying. If you can convince a buyer that they are getting a good deal, there is a higher chance they will buy the product regardless of the price, which is where the anchoring bias principle comes in; it is often applied to pricing.

People are more likely to want something that will not be available in the market soon or is in short supply, this is why it is imperative you understand the principle of scarcity to get the most out of your marketing campaign. Creating the sense of scarcity during a marketing campaign by running limited-time offers usually convinces customers that they are missing out on great deals, resulting in increased purchases, hence, a successful campaign.

If there is one thing every consumer loves is taking advantage of all the great services extended by the sellers, this is why you should learn and use the loss aversion principle that focuses on educating them on the things they stand to lose if they don’t take advantage of certain deals. To increase sales, you have to leverage the customer psychology by offering a free gift with purchase or giving a free item in exchange for completing a satisfaction survey.

The decoy effect principle is one that has gained a lot of success over the years and still works in boosting sales during a marketing campaign; this is where you introduce the third option which is the decoy, making the more expensive product feel like a better deal. Running a productive marketing campaign is involves understanding all the key aspects including the basics of psychology and marketing. Provided on the guide above is everything on the link between psychology and marketing.

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