Five Psychological Techniques to Help Sell More
Whether we like it or not, our brains can be persuaded without much conscious thought. We are hardwired to make decisions in a fraction of a second; it can save our lives. However, it usually means we run on autopilot, reliant on cognitive biases and heuristics.
What are cognitive biases and heuristics? They’re similar! A cognitive bias is a systematic way our judgement is influenced based on context, cultural beliefs and past experiences. Whereas heuristics are shortcuts the brain makes to facilitate problem-solving. Simply, we look to lighten the processing impact on our brains to prevent a mental overload! We’ve all been there.
Most people go about their daily lives without realising the effects of their psychology on decision-making processes. If you arm yourself with the knowledge, you can become a persuasive marketer, as well as a savvy shopper! You’ll be able to spot a sales technique from a mile away.
Let’s take a look at five techniques which may be leveraged for commercial purposes:
Loss Aversion
Losses loom larger than gains. People feel a loss as pain which can be greater than the joy experienced when you receive a reward. This aversion to discomfort is supposed to aid decision-making, deter us from danger, and keep us safe. Yet, it also works in marketing and advertising.
How does it work in practice? Offer a free trial of your product or service with an opt-out approach. Once people are in the habit of using your offering, they’ll be less likely to give it up.
Anchoring
With price anchoring, customers compare the price of a product to other expensive examples — people can’t help but compare. We all love a bargain! For salespeople, you can use the first price offered as a reference point throughout the negotiation process. It’s always best to negotiate from a position of strength.
How does it work in practice? If items are on sale, ensure you show the original price. For example, “was £100, now £75”. They’re gaining more value for less money. It’s a great deal for the customer.
The Exposure Effect
This is one reason why we love a strong, consistent brand identity. The more we are exposed to an item (or person), the more we prefer it (or them). We love familiarity as it feels safe. When people are parting with their hard-earned cash, they don’t want a nasty surprise!
How does it work in practice? A brand must run multiple campaigns yearly to be seen and stay relevant. Why not switch things up each season to re-engage with your audience?
The IKEA Effect
When you involve your audience in creating your product or service, they will feel more invested in your brand. In fact, it can increase the perceived value and likelihood of a purchase.
How does it work in practice? Why not start a club for your loyal brand ambassadors? Beauty brands do this successfully. For instance, NIVEA facilitates a taster programme where customers can join the review panel to sample products for free.
Furthermore, it’s called the IKEA Effect because they are one of the most consumer-centric brands on the planet! The team visits thousands of customer homes each year to find out what they need to improve their lives.
The Salience Effect
The brain focuses on novelties because we are always looking for disruptions to the safety patterns of our world. This can be captivating, so people tend to invest in products and services that stand out from the crowd. If you have high brand salience, people can recall your organisation quickly. Always be at the forefront of your customer’s mind.
How does it work in practice? Ensure you communicate your unique offerings differently to make them memorable and distinctive. Use branding to achieve this effect, and weave words like “exclusive” and “special” into your copywriting.
Use these cognitive biases to leverage sales sparingly and ethically. If you throw too many tricks at your customers, it can be a major turnoff! However, one or two can help to sweeten any deal.
At Buttercrumble, we can adopt these techniques for our creative campaigns, boosting their effectiveness. Have you considered what your next marketing spring will look like? Please reach out to us, and see how we may support you.
