In marketing there are various psychological principles being used in order to increase the sales and customer’s engagement. In this article I would like to analyze some principles and help you to suggest possible example of its usage in your business.
It is always good to analyze marketing and it’s tricks by deeper understanding of psychology.
1. Reciprocity
This principle says that when you offer something to another person (help, money, a favor etc), he or she would feel compelled to give something back in return. Many people use this principle in real life for the purpose of simple manipulation, but marketers also use this principle to increase the sales.
How can you use it?
You also can offer free samples alongside with the purchase. Thus, you not only use the principle of reciprocity, but give an opportunity to try your product and show your customer your confidence about its quality.
2. Liking
We are likely to say yes to a person we feel he or she is beautiful, we admire or simply like. This is one of the principle of psychology. At least people prefer buy from a person they feel connection.
How can you use it?
To create such a connection, you can tell inspiring story about yourself, company, share interesting facts so as people would feel connection to you. You can describe crisis moments and obstacles in your business life and the way you overcame it, thus, people would feel they also can overcome their problems. After you create empathy and connection, the chances to sell your product are higher.
3. Social proof
Principle of social prof is much connected to liking principle what says that we tend to like more products that our friends, familiars like. People trust their friends and relatives more that anything you can say about yourself.
How can you use it?
Motivate your customers to recommend your site, share in social media by offering special discounts.
4. Scarcity
Principle of scarcity says if we are going to miss an opportunity, we desire it more. This principle we can see in popular phrases “last chance”, “only 2 left”, etc.
How can you use it?
Unlike all popular brands do (texts “only 2 left” or they put countdown in their website) you can do in more unique way - create seasonable variants for your products or limited-edition products. In case of limited-edition products, you use not only scarcity principle but give the feeling of importance to customers offering them exclusive goods.
5. Being part of a group or a community
Humans prefer being part of some group, that´s why we can see a lot of people who support different football teams (it is not just love and passion, but a necessity to be a part of a certain group).
How can you use it?
When offering certain product to people you share with them the same interest. Based on this interest there is a community that can be created. For example, if you sell sport alimentation, you can organise sport marathons, trekking activities, bicycle tours or others. Sharing that identity, customers will feel loyalty to the brand. You can create very stable bond between each other.
These were some psychological principles used in marketing. What do you think about it, would you try any of them in your business? If you have any questions, I would be glad to answer it or introduce your project to my team at Astorts Group to be evaluated.
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.
