Special Tricks and Strategies for the Application of Marketing Psychology to Increase Sales
Every businessman must have a special strategy in marketing and promoting their products. Usually, every businessman is always looking for information in marketing and sales. You can use research methods to read articles and books related to business or entrepreneurship. Besides, for a businessman, you need to learn and understand about what psychological theories you can use to optimize the marketing function of your business. Find out more fully about the application of marketing psychology to support the success of your business.
Psychological Principles Relating to Businessmen
Marketing psychology is an understanding of the motives that influence emotions and actions of the target market is seeing a product or service offered by a businessman. Several main principles of psychology are suitable for business people. These principles can be used to help attract, convince, and convert more people with content marketing for a business. The following are principles of human behavior related to developing a business:
- Priming. In psychology, Priming is described as a condition where a stimulus or event can add to certain information that has been previously remembered. Many business people use subtle priming marketing techniques. You can help website visitors to remember important information about your brand, or it can even influence their buying behavior.
- Reciprocal. Put simply, if someone does something for you, then you will naturally want to do something for them. In business, many ways can be used to take advantage of this reciprocal. Starting from vouchers, branded t-shirt souvenirs, exclusive ebooks, and so on.
- Social Proof or social proof is the theory that people will adopt the beliefs or actions of a group of people they like or trust. One easy way to make the most of social proof is through a website or blog.
- Decoy Effect. Providing several choices of almost the same product at different prices will make people have many choices before deciding to buy the item. This technique is often called the Decoy Effect, which is a very strong and effective psychological technique.
- The principle of scarcity. This principle will return to the formula the less opportunity, content, or product that is more valuable, the more easily people will be attracted to have it. But it is important to note if you want to apply this principle. If you approach the concept of scarcity as if it were extremely rare, even though the product is very popular, then people may be very receptive.
Marketing Psychology Tricks & Strategies
There are several tricks and specific strategies for applying marketing psychology to increase your sales.
1. Help prospective customers to avoid action paralysis
There are several approaches you can take to make your potential customers/customers aware of the free trial you are offering. Most companies choose to copy templates that are commonly used by people such as “Register yourself free trial for 30 days” or in English with a short sentence “Try premium trial for 30 days”. But a better alternative is to use a more lenient approach such as “No payment for first month”. The goal is the same but could have potentially different outcomes. Apart from that, you can also use subtext to strengthen your CTA. For example, “Cancel anytime” or “Full access to all premium features”. These examples are great types of subtext changes or additions to use for A / B Testing.
2. Provide a hierarchy of labels to customers
You can make your customers feel special. It can be a great retention tool, so you have the opportunity to turn customers into ambassadors for your product for free. On top of that, it’s also a great acquisition method, considering how many new, high-quality customers will arrive due to word of mouth. Here’s how to implement a label hierarchy for your customers:
- Add labels to products that will give potential customers a higher level of status than others.
- Send your customer something tangible that can be used (exclusive-ebook, exclusive merchandise, and so on).
- Give a digital badge that can be displayed on their website to say that they are a certified member who has achieved gold, silver status, and so on.
3. Understand the types of buyers
Neuroeconomic experts have defined three types of buyers: Tightwads, Spendthrifts, and Average spenders. You must identify and understand the three types of buyers and learn the marketing tricks for each category of buyers.
- Tightwads is the type of buyer who prefers to save money rather than spend it massively. Tightwads will hold on to spending their money as long as they can, because of wanting to save their money for example to buy rare items. Or they can also wait for the price of a target product to fall after the product hype has gradually subsided. Selling to this type of buyer takes longer. Get ready to play a pretty tiring game. Also, if the quote doesn’t fit their budget, they may never eat the marketing feed you provide. Try saying something like, “Save more for the future by investing here, right now!”
- Spendthrifts are the type of buyer who is immune to the regret that most buyers experience after buying something. This type of buyer will spend more and save less than most people. Selling to this type of buyer is very easy because they usually don’t need much convincing to make a purchase. Emotional use ads, which can be videos that include lots of images.
- Average Spenders are a type of buyer who is in the middle of the other two types of buyers. Most average spenders buy things that they can still rationalize as a good investment, but that also do not pose a risk to their finances. So these types of buyers still indulge in shopping but they do it for good reasons, while still trying to save money. How to sell to Average Spenders, you can include a money-back guarantee, a lifetime guarantee, or free shipping to soothe their fears of buyer regret they may experience later.
4. Build urgency
For example, if you have an online business platform, you should also emphasize the unique features of your product and how it can save users from profit-loss if they don’t use them. The point is don’t build urgency with just cliches, but try to be specific and unique to make it more outstanding.
5. Make an offer using Devil’s Advocate technique
Research shows that most people are more likely to buy a product when they have an assumption that your company questions. In essence, you need to address potential customer concerns when carrying out sales by not sticking to boring theory or research. Try to provide the most relevant and current case studies. This will be more attractive and have more potential to sell.
6. Surprise your customers
You can surprise your customers with unexpected dishes. That way, you can build brand loyalty better. Also, chances are you will receive more thanks in the form of testimonials that can serve as an organic trail of your accomplishments. Your potential customers will see it and consider buying your product because they trust the original customer more.
Never underestimate the slightest strategy that comes to your mind. Because it could be this strategy that can provide a way for you to get success in business. Marketing psychology is one of the things that you must understand in selling products. Through marketing psychology, you can understand the characteristics of the market that is your target or goal.
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