Marketing is a platform that bridges the gap between the seller and the buyer. With the help of marketing, the sellers can communicate with the buyer about the brand as well as the products. As digital marketing has grown, this communication has become two-way and the buyer’s feedback, needs and expectations reach the sellers as well. This makes marketing more crucial for a brand’s growth than ever before.
Considering the importance of marketing for a brand’s success, no stone is left unturned to create a strong marketing strategy. One trick that the branding team likes keeping up their sleeve is the knowledge called Marketing Psychology. Over the years, industry experts have conducted numerous studies to understand how various factors affect marketing strategies and techniques.
Here are the top 10 marketing psychology tips that new entrepreneurs must keep in mind while designing their brand’s marketing strategy:
Emotions make the brand relatable
One of the key rules for marketing psychology is that emotions win each time. Most of the advertisements and marketing strategies for big brands are focused on human emotions. This is because it makes the brand more relatable to the consumer and paves way for brand recall. It shows the customer how the product can be useful and meaningful in their lives. Even logo ideas are sometimes influenced by the effect human emotions have on consumer perception and behavior.
Colour psychology helps improve brand recognition
Have you ever wondered how brands choose their brand colours? What goes into the decision process for selecting the logo colours for a brand? It is no accident that the legendary coca cola logo sports the red colour. Different colours are associated with some specific emotions that they spark. The study of the significance of each colour for human emotions is known as colour psychology. Equipped with the knowledge of colour psychology, your audience demographics and preferences, you can choose colours that will have the maximum impact.
The feeling of community creates a feel-good factor
Human race thrives as a community and the same rule applies here as well. Consumers tend to buy products which their social contacts have purchased. With digital marketing, creating digital communities has become easier. Now people can interact, share their experiences and enjoy belonging to a community. At the same time, the brand acquires an entire community as followers thus creating an even strong group of potential brand advocates.
Exclusivity is a great motivator for impulse purchases
Buyers feel privileged and excited when certain products are available for a limited time or through an exclusive channel. This caters to a consumer’s ego, making them feel extra special if they purchase the product. The concept of exclusivity creates a sense of competition as well and works great for products such as smartphones, cosmetics etc.
Reciprocity brings fulfilment to the buyers
The feeling of reciprocating a nice gesture brings joy to everyone. Today, this principle is being applied by brands for giving back to the environment, You must have seen brands offering to plant a sapling on behalf of the customer for each of their purchase, or recycling the product packaging for the consumer and providing gratification in return. This provides the brand with an added advantage over the competition. Not only is the buyer getting a product, but he/she becomes part of a good gesture as well.
Uncertainty and Scarcity can encourage buyers on the fence
We all have felt the urgency of buying a product on sale or even stocking up on a regular product if we get wind of stock scarcity. This principle works best for loyal and returning consumers. In order to push customers to buy, websites show the stock details. For instance, often you find “Only 2 left” written near the Add to cart button, which encourages the consumer to purchase the product immediately.
Frequency Illusion increases exposure for the brand
The concept of frequency illusion is based on the famous Baader-Meinhof phenomenon. If you are looking to purchase a particular product, all of a sudden you will start noticing its relevant advertisement around you. The frequency for such advertisements didn’t increase, it’s just that the mind starts paying more attention, thus creating an illusion of increased exposure. As customers start paying more attention, the brand is benefitted by the exposure it gains.
Anthropomorphism helps brands stand out from the crowd
Associating imagined and humanized characteristics and emotion non-human or animated objects is known as Anthropomorphism. In simpler words, it is creating a mascot for your brand, just like “The Michelin Man”, “Pillsbury Dough Boy” and “Mr Peanut”. Adding such imagery associates an element of fun to the brand and Mascots like these help brands stand out and create a distinct brand image for themselves.
Decoy Pricing pushes sales by changing product perception
At times customers are interested in purchasing a product but remain apprehensive in making the final purchase. In such cases, the company creates a decoy product with pricing and features in a way that the focus product seems more economical. They sometimes even create product variations in order to push a high-profit margin product.
Even though the decoy product is a subtle technique but it packs a powerful impact. It makes the user wonder and choose. Keep your plan simple, offer your main product with two more products which have jacked up prices. It will make your main product look economical pushing its sale.
Jingle Conditioning keeps the brand fresh in buyer memory
We all have sung along with our favorite jingles, hummed them while doing chores and at times can’t even seem to get them out of our minds. Such is the power of a good jingle! It keeps the brand’s memory fresh in the customer’s mind for years. Just as you use proper research and a good logo maker in order to create a great logo. Consider carrying out diligent research on what kind of jingle will work for your brand.
A lot of experts have spent a great deal of time into studying these trends and their effects on the psychology of a consumer. These marketing psychology tips can help you find a way to make your marketing strategy work best and build a strong brand image in the minds of the customers.