5 Must Know Psychology Tricks That Attract Customers and Boost Sales
This is an article from The Business Boost & Build Newsletter.
It’s once a week and includes one tip from me and three resources from others.
This Weeks Tip
Effective ways to use psychology to attract customers and boost sales.
Psychology tricks are everywhere.
They’ve been studied by marketers, politicians and sales people for centuries (probably even longer).
They can be used to help your business grow and convince your customers to take action.
These 5 are the easiest to implement. I will give you a quick overview and example for each of them.
Scarcity and Urgency
Creating scarcity or urgency, with limited-time offers or low stock notifications, is a great way to motivate customers to act quickly.
It plays on our fear of missing out, and also presents your offer as valuable.
When something is in short supply, it’s probably rare. If it’s rare, then it’s probably valuable.
Example
Airbnb uses this psychological trick in a clever way.
If you don’t know, airbnb is an “Air Bed and Breakfast” service that lets property owners rent out their spaces.
When you browse through their hosts list, you will notice the “rare find” notification.
That must be a good place, right?
You probably think something along these lines…
“I better book right away, before someone else gets it!”
Anchoring Bias
Our decision-making is heavily influenced by the first piece of information we get.
Use this to your advantage by setting high prices for your products, and then offering discounts or promotions.
It will frame the offer as great value.
This is why you will see the original price of an item next to the sale price.
Example
£17.99 now £3.99
Social Proof
We’re all just sheep, well…. kind of.
We decide what is right, based on what other people think is right.
This is a valuable evolutionary trait. By acting as others do, you are less likely to make a mistake. Potentially putting yourself and your group in danger.
This is why television producers add laugh tracks to sitcoms. If you hear others laughing, you will be more likely to laugh.
You can tap into this psychological trait with customer reviews and testimonials.
Display them to encourage others to buy, whilst increasing trust and credibility.
No need for an example here, onto the next one!
FOMO (Fear Of Missing Out)
This psychological trick is powerful.
We hate missing out on things. In fact, we hate it so much, we would rather avoid losing out than winning the same amount.
Why are we like this? I don’t know, but it’s a damn powerful marketing tool.
Example
A great way to use this psychological trick, is to offer a particular price for a limited time frame. Then have the price go up!
This example blends scarcity, urgency (which I mentioned earlier) and FOMO. It’s killer!
Emotional Messaging
Messaging is a big part of marketing psychology.
If you can effectively explain how you will transform customers lives (and solve their problems) they will buy.
You just need to understand their deepest desires.
Ultimately, we all want the same things.
Use your messaging to help your customers:
- To make more money
- To save time
- Be part of a tribe
- Be admired
- Gain higher status
- Have a purpose.
Example
Three Resources From Others
This week I wanted to share 3 books that I’ve recently read and are full of value.
- The Art and Business of Online Writing by Nicolas Cole
- Commonsense Direct and Digital Marketing by Drayton Bird
- Persuasion Skills Black Book by Rintu Basu