There is no doubt that marketing strategies are developed with an insight into the purchasing pattern of consumers. More often than not in this digital transformation trends, marketing plans dwell upon the needs of the company to advertise the quality of its products or services. But it is incredibly limited to think that the sole factor influencing consumer purchases is the quality of goods.
The subtle and inherent specifications of the products, besides the method of its advertising, also plays a crucial role in compelling action amongst consumers. Since human psychology forms the basis of such tactful marketing strategies, they can hardly fail to make an impact.
Here is the list of choicest intellectual tactics that every marketers of the businesses must use to boost their demand in the market:
- Give and Take: Reciprocity Principle in Transaction
Social psychology dictates that every positive action brings forth an equal reflection. Hence, by implication, if a company presents its cooperative stance to the customers (example: handing out free resources, eBooks etc.) from the outset, it is likely to generate sales from the individuals who feel obliged to return the favor.
Marketers using this strategy must also understand that the reciprocity principle does not depend on the amount, price, or intellectual value of the shared resource. Be it a book or a concise essay, any surprise gift handed out strategically produces an unequivocal psychological impact.
- Beauty to the Eyes of the Beholder: Golden Rule of Designing
All that glitters might not be gold, but all that looks attractive certainly reserves the trust, affection, and interest of the beholder. A number of intellectual researches have claimed that website and product packaging designs can dictate the purchasing impulse of consumers. It also has data privacy for future so that it can permeated from anywhere. To make the website or product appealing, companies must ensure that elements like font size, column width, margin and line height, blends in each other.
- Many Shades of Emotions: Color Psychology
Psychologists have often opined that colors hugely affect human emotions and mindset. To take it further, psychologists studying consumer behavior, noted that within 90 seconds of contact with the product, consumers crystallized their purchase decision. Which stands to prove that the purchase impulse of a majority of consumers is determined by the color of the product packaging and the emotional feeling it induces.
- Buy or Lose Instinct: Generating Sales Through Persuasion Techniques
The persuasion technique demands that qualitatively exclusive goods must be offered at a limited scale for creating a sense of urgency or scarcity amongst consumers. Led by this natural instinct, they are sure to junk any thought of delayed purchases and rush to procure the seemingly special offers made for addressing the needs of a certain exclusive group.
- Enemy of my Enemy is a Friend: Creating a Tribe of Consumers
It is not enough to prompt the prospects in buying one’s product unless they are converted into loyal customers. It is only the dedicated enthusiasts of a brand that can create demand and boost supplies. Thus, in order to ensure high demand, companies aim to define the characteristics of their loyal customers.
While creating an identity for their customer “tribe,” they establish a rival personality of their competitors. Stronger the social identity of a brand’s loyal group, the rarer their chances of stepping out and consuming brand products of the competitors.
Understanding the psychological makeup of its customers and the nature of one’s products’ can help companies in setting up more informed marketing strategies. Such that, even if the advertising platform may have a limited outreach, the subtle features of the goods are able to make a lasting impression on the buyers.