Human psychology is the biggest opportunity when you want to market a product. Many successful marketers understand that emotions and tapping the opportunity presented by the human psychology is a great way to get people to buy more. Smart marketers utilize psychology legally and ethically to influence buying decisions among their target audience, so if you are just setting up a marketing campaign, probably you need to learn a few things about psychological selling and how you can tap the opportunity available in human emotions while selling.
Here are some of the ways you can take advantage of human psychology to sell more.
While sharing on a TED Talk, psychologist Barry Schwartz presents a concept referred to as the “paradox of choice” in which he rejects the misconception that getting more choices translates to more freedom. In a dissenting opinion, he argues that choice has served to make us more paralyzed as opposed to free, and this has led to more devastation instead of happiness. Therefore, while utilizing his concept, you may agree that the paradox of choice should be taken into consideration as it helps you to see how you can reduce regret for customers. In different situations, having more options could mean getting fewer sales and dissatisfaction.
When launching a promotion for your business, you should keep this in mind. Don’t offer the promotion of different products, but narrow down to few options that can drive sales for a long period of time. This approach could help to create more value for your audience and you may be able to sell your solution while minimizing pos-purchase regret. After achieving this, you can then work on strengthening the emotional connection with the audience to create a long-term relationship that is profitable.
These are campaigns that establish brand presence by tapping into the dreams of the audience and reaching out to their desires to have a good experience or lifestyle. This approach focuses on the aspirations of the audience and carefully shares a message that syncs with the ambitions of the audience. In this case, the marketer poses as the one to fulfill the hope and need to be created in the minds of the audience. You must come up with a story that pumps life into the dream. For example, brands like Hermes share a message that is structured to mean that their products are suited for those who are elegant.
The Power of Memories
Advertisers can also utilize the power of memories to influence decision making while promoting products. Many people will more likely buy a product that relates to a memory that takes them back to something they loved in the past. That is why while modeling products you might need to ask yourself if there is something that your target audience would remember if you designed the product in a certain manner. Take for example the vaping industry.
Here we find that, even among older consumers, some of the most popular flavors are sweets and candies. According to industry analysis, Cotton Candy juice is a best seller. This is likely due to the positive memories associated with this flavor. Adults aren’t normal consumers of Cotton Candy, but they associate it with positive memories. Unlock this power by asking yourself, what about your product appeals to a memory?
In the Maslow’s hierarchy of needs, self-esteem sites close to the top. This means people want to feel important, basically like they are part of some exclusive group. That’s why you may see an advertiser say the product is not for everyone to appeal to those who would like to feel exclusive and superior. An exclusivity appeal works in the long run and brands like Apple have taken advantage of this tactic to build a loyal customer base that has helped to drive the sales of the company up since inception.
Marketing is something that helps a business to create awareness and also sell products. There are many tactics a business can use to market products, but psychological selling has stood as the single most effective way to sell a product and get loyal customers. This is an approach that appeals to the emotions of the buyer in a way that makes them feel like they own the experience the brand is creating and therefore they should not be left behind.