Pro Secrets Mini Course on How to Persuade Consumers through Digital Psychology and Neuroscience
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Are you struggling as you are spending money on digital marketing but not getting sales? Are your ads and landing pages not giving enough conversions? What do you think is missing?
You are not getting results because your digital marketing is not based on how human mind works. Human brain is unimaginably convoluted. We are Predictably irrational!
Researchers in cognitive psychology and neuroscience have identified principles that can be used for influencing consumers into purchase.
Hi, I’m Seema Gupta, Professor of Digital marketing at IIM bangalore. In this video, I am going to tell 7 startegies for using neuroscience to persuade the consumers to buy. I will give you practical tips that you can use right away.
Strategy No 1 – Use Reciprocation
Have you noticed why we are more likely to help someone if they have helped us in the past, why do countries form alliances? Why do people work in a group?
As the name suggests, it is the mutual agreement of favor giving and taking. It is so firmly instilled that we become obliged to repay for any sort of favor. In marketing, companies are more likely to build a loyal customer base, if they provide a free sample of their product and services. Why are personalized emails and Direct Messages massively useful? It’s a no brainer that these help in personalizing the user experience as a great marketer will not only send direct message or email to a set of customers with their first name but also will always personalize it. This makes the word seem genuine and intimate.
Strategy No 2 is Use Foot in the Door Technique
It means once customers have purchased from you, they are more likely to buy repeatedly from you. The very reason Amazon recommends us more products related to the item is because once a customer has already made up his mind to buy a product from a particular website, Their probability to purchase products from the same site is high as they have built a partnership based on trust.
Strategy No 3 is Use Social Proof
The fourth technique that I want to bring light to is the power of social proof. Humans base more than 66% of their self image on their social circle. It is tremendously useful in the marking world. One way to tap into this is by gathering testimonials and making your product look authentic. Showing them that their peers support your product or service is critical. As Robert C. Aldine has rightly said, “It is often not the content but the connotation that matters for achieving compliance,” In the digital world, companies use this Principle to their advantage by optimizing their review and using testimonials. Tapping into people’s minds and using these persuasion techniques to grow the business can be very fruitful if appropriately applied, and as long as digital remains one of the indispensable parts of human
Strategy No 4 is Liking
If customers like your products then they are more probable to buy it.
Some of you may have used Tinder. Liking someone on first glance with short bio and swiping right! It leverages Liking as if user does not like someone on first glance then its unlikely that user will have a long lasting relationship with that person. Adding spotify feature further enhances liking for the person if he or she is grooving to the same moves as yours.
Strategy No 5 is Build Scarcity
Natural Human tendency is to be more worried about losses. People have a natural proclivity to want what they cannot have. They are more motivated to avoid pain than they are in the pursuit of pleasure. it’s more painful to lose something, than to win it. The Principle, at its core, is the subset of supply and demand in economics. You can create a sense of urgency and feeling that if users do not act fast, they stand to lose something which is available at the present moment. How often are you prompted to buy a product, when it is “the only stock left”, when the discount ends in 24 Hours.
Stratgey No 6 Use the Power of FREE
FREE is an emotional hot button, isn’t it? Have you ever bought two products that you were unsure about to buy initially, but bought it in order to get the third one for FREE? In psychology this is also called the zero price effect. . In the digital space, marketers leverage the zero price effect by providing certain product and services for free. Netflix takes advantage of the zero price effect in a very efficacious manner. It boosted its sale when it introduced the one month free trial.
Stratgey No 7 leverage Anchoring
you should know that prices are relative. This phenomenon, in psychology, is referred to as arbitrary coherence. What that means is that even though the initial prices are arbitrary, but once it is put into practice, it shapes our mind as far as the present and the future prices of the company are concerned. In other words, it helps in anchoring all kinds of purchases.
Anchoring the price in Digital market space is important as the initial prices determine how the customers are going to view our brand. Your product is never too cheap or too expensive due to the relativity of prices. What would be the best way to sell a Rs.40,000 smart phone online? It’s simple, in the inventory, just place it near a Rs.50,000 smart phone. Normally, people tend to choose the median of all the prices offered and avoid extremities. If you as a marketer want to sell something at a desired amount, make the preferred price intermediate and try to sell it at the best possible value.
The above strategies have helped many of my clients persuade their customers to buy. They are guaranteed to influence your customers too. Thank you for watching