As discussed in the last article of this series, how individuals behave as members of society has an important impact on the way that marketers approach their jobs. These behaviors come from internal factors such as personality traits and emotions, along with external stimuli such as media, advertisements, and conversations they hear about products and services.
When it comes down to it, our behaviour is motivated either by desire or fear. We are constantly seeking out experiences that satisfy this desire, and avoiding those that do not. Or we are afraid there will be consequences if we don’t have these experiences.
In fact, according to Harvard Business School professor Robert Cialdini, over 70% of all decisions made are influenced by motivation or emotion.1 This makes sense because most people are social beings, so experiencing success or failure for someone else is usually enough to motivate them.
And while marketing strategies related to product sales and customer acquisition may seem separate from behavioural psychology, they are actually very dependent on it.
This article will go into more detail on some common motivational theories, and how they can be used to improve your marketing strategy.
As discussed earlier, one of the biggest factors in successful marketing strategies is knowing your products! If you are looking to improve how well people like your business or what types of products and services you offer, then learning about their reactions to them is important.
The more aware individuals become of your product, the more they will want it and discuss it positively with others. This creates an exposure which can lead to sales for your company and influence for yourself as a marketer.
You can learn a lot by studying other companies’ products and finding ways to emulate theirs. You could also find new things you could add to your own product line or specialise in a certain area.
Knowing what products exist out- there is already a large amount available so widening your field isn’t too difficult a task. However, being familiar with each ones strengths and weaknesses is important next step towards improving consumer engagement.
The way people buy things is changing rapidly, and it’s important for marketers to stay up-to-date. A survey conducted in February 2019 found that one third of respondents said they would not purchase anything unless it was linked to their personal profile, and half reported having no choice but to accept what app or website offers them while browsing due to the amount of advertising.
As we know, marketing strategies depend heavily on understanding how consumers are spending their money at this moment, so it's essential to be aware of what types of purchases they're making and why. This information can help you come up with new ways to market products and services.
There are many different ways to gain such insights. For example, you could track sales and compare them against past periods to get some clues about whether and/or which brands are performing well. You could also look into online behavioural data to determine buying trends and patterns.
Recent developments in technology have allowed for ever-increasing levels of online shopping. Gone are the days when people would only shop online at major retailers that needed no motivation to sell products.
Now, anyone with an internet connection can create an ecommerce store and start selling merchandise or services. This has given rise to an epidemic of digital sales – we’re now living in a day and age where almost everyone experiences some level of online buying.
It is estimated that around one third of all purchases were made via mobile device in 2015! With so many potential buyers having access to large marketplaces, it makes sense then to focus on how they work to attract new customers.
This article will talk about three important consumer behaviour traits related to online shopping and how marketers can use them to promote sale items.
Having a large, well-populated store is great for your business’s image. People will feel comfortable shopping in your space, and you’ll get more foot traffic.
However, with the rise of online shopping, this isn’t quite as important anymore. Even if someone wanted to go outside, they could do it from their home or car! So, how can you ensure people come into your store?
Opening up new locations may be expensive so instead, consider opening up ‘virtual’ stores through websites such as Amazon and eBay. These types of sites let other sellers advertise products which customers can purchase.
This way, even if people don’t want to physically visit your store, you’ve got them engaged by offering good quality merchandise at discounted prices.
Alternatively, you can use social media to draw attention to your business. By having lots of followers, you increase your company’s exposure and therefore potential sales.
By giving away free items, or holding competitions, you create an incentive for people to follow you. And, hopefully, some loyal followers who enjoy your content will spread the word about you to others.
A marketing strategy is usually described as how you will get people to spend money buying your product or service. This can be done through direct advertising, media campaigns, changing the way your business operates, etc.
The most common types of marketing strategies are brand awareness, price competition, customer loyalty, switching off, word-of-mouth marketing, and keeping up with trends. All of these have different benefits depending on what your business is and who you want to target!
There are also two other important components of any good marketing strategy: communication and measurement. You must able to communicate your plan clearly to others (it should make sense) and track its effects to determine if it worked.
Brand name recognition is one of the most basic forms of marketing a company can use. By investing in popular brands, they are letting the market tell them something about their products – whether that be well-known quality, perception of value, or just plain popularity.
Price competition is when similar companies compete against each other by offering the same thing for less expensively. This often works because customers perceive lower cost as better quality or because there are special offers available at the competitor’s store.
Customer loyalty is having repeat buyers. Companies that keep coming back gain trust from their followers which helps them reap the benefits of customer loyalty. These loyal followers may even spread positive rumours about your business helping it become more widely known.
Recent trends in marketing are using psychology as a tool to determine how people respond to advertisements, products, and messages. Advertisements that make you feel good about yourself or show you life beyond your own is an effective way to win over new customers!
The importance of advertising with a focus on motivating action rather than just selling a product has grown in popularity. This is referred to as motivational advertisement (or advertizing) and it’s becoming increasingly popular.
By incorporating some of these strategies into your business’ advertising, you can boost sales and inspire repeat business.
Changing consumer behaviour is difficult – it’s like trying to get someone to try new food when they already have their preferred foods.
It can be really tough!
That’s why marketers use advertising, branding, and marketing strategies to influence how people behave.
Advertising tells you about a product or service, so that you may choose to buy it or not.
Branding helps users recognize your company as one they trust, which might persuade them to shop from you rather than another brand.
And marketing strategies emphasize benefits over costs, making it more likely that people will want to do business with you instead of competitors.
A key part of any marketing strategy is knowing who you are targeting. This includes figuring out if this target group already feels valued or not, as well as whether they perceive you as an authority in your field.
If they do feel valued and thought of you as an expert, then it’s easy to assume that they will trust what you have to say. When their actions prove you right, then they will keep coming back for more.
When they don’t, there won’t be too much influence over future purchases. You can still try to win them back by giving them special discounts or freebies, but it may take longer than just buying their attention.
Consumers today have very high expectations and little tolerance for anything that doesn’t live up to its standards. If you aren’t careful, they will choose to go somewhere else instead of investing in your products or services.