Whether you have an online or an offline business, marketing and promoting your products is key to driving sales and growing your customer base.
But why does marketing work so well and how do customers decide what and when to buy something? The answer is marketing psychology.
Read on to learn some facts and figures about marketing psychology and why it’s one of the most powerful tools to attract customers and boost sales.
What Is Marketing Psychology?
Marketing psychology is based on the irrational behavior of customers. We always want to be, look, and feel better, and this is why marketing works. Essentially, marketing psychology uses people’s cognitive biases to convince them to buy something.
Most people make smaller everyday purchases like groceries, clothes, and other life necessities without too much thinking. This is also true for big life purchases like cars and houses. Customers want more features and benefits, more space, better performances, and better looks even though these things are not a necessity but a luxury.
Marketing Psychology Examples
It’s important to understand how closely related psychology and marketing are. Here are some examples that most brands use to drive more sales:
Scarcity and Urgency
One of the main rules of retail marketing psychology is creating a sense of urgency and scarcity. When customers see messages like “buy it before it’s gone”, “only 1 hour left”, “only 15 slots available”, or “hurry”, they’re tempted to buy so as not to miss out on a great offer.
Some brands use the exact same language and phrases of their target market to create a sense of relatability. If customers feel like they’re understood by a brand, they’re more likely to buy from it.
Price sensitivity is a powerful tool for driving sales because this is when customers are most tempted to buy. Even if they don’t necessarily need something, they’ll still buy it because the price is too good to miss out on.
Many brands, especially luxury brands, create exclusivity with their products and services. This makes customers feel like they bought something special that’ll help them establish their social status and wealth.
Logo and Brand Colors
Logo and brand colors are an important part of color psychology marketing. It’s been scientifically proven that colors send subconscious messages about a brand and influence a person’s decision to buy.
If your business doesn’t have a professional logo yet, you can use a free online logo maker to get started. You can also define and add brand colors, fonts, and slogans to your brand identity package.
Marketing Messages and Buyer Behavior
The messages you send with your brand can influence buyer behavior. For example, if you position your brand as an authority, your customers will have the feeling they’re using professional products.
If you use elegant language combined with exclusivity, you’re sending the message that your products are luxurious and special.
Do You Use Marketing Psychology to Boost Sales?
Whether you’re a new business owner or already have an established company, marketing psychology can be a great took to drive sales and get customers to spend more money.
The colors you use for your brand, the logo, slogan, packaging, and marketing messages can all influence the purchasing decisions of potential customers.
Want more marketing and business growth tips? Read some of the other articles that cover these topics and stay tuned for the latest industry news and trends.