18 Mar Essex Digital Marketing Agency: Understanding Marketing Psychology
As an Essex digital marketing agency, we’re often asked how our services add value to businesses. Really, there is no short answer to this question. The truth is, marketing comes with hundreds of benefits. Far too many for us to mention within this blog post. However, the key ones to remember are visibility, longevity, and reputation.
At VerriBerri, we spend each day building and nurturing our client’s virtual identities. Our team are made up of young, inspiring and passionate individuals who never fail to make amazing things happen. With specialist departments covering each aspect of digital marketing, you can benefit from all your services under one roof. What’s more, we create completely bespoke packages for each of our individual clients. Whether you’re a clothing brand, working in the fintech industry or even an influencer, we can help you!
What Is Marketing Psychology?
Of course, being an Essex digital marketing agency means that we need to know everything there is about consumer behaviour. Afterall, you cannot sell more unless you know and understand why people buy in the first place.
Marketing psychology involves identifying and understanding the behaviours and patterns of consumers and how this relates to their purchasing decisions. It is important that you incorporate your findings into your strategy in order to make your marketing more effective. The more you are familiar with your audience, the stronger your relationship.
How B2B Markets Differ from B2C
Before delving into some common marketing psychology tactics, lets take a closer look at how B2B markets differ from B2C.
When you run a business, one of your biggest concerns is making a profit. Therefore, when you buy something, this is usually driven by return on investment (ROI.) B2B audiences are more likely to consider the wider business impact before making a purchase. Meanwhile, the average consumer tends to be more driven by short-term desire over anything else. For instance, we see something we like, and we buy it. We make this purchase because it makes us happy, not because it will make us money. This is the first big difference.
Now, we come to purchase time. Often, among businesses there is a structured decision-making process. A need may arise for a purchase to take place however, this person may need to seek approval from their peers and so on. All in all, this leads to far longer purchasing times. Comparatively, B2C audiences make decisions much more quickly. Usually there is only one decision maker involved meaning they have nobody to consult. This is a really important thing to bear in mind.
Lastly, B2B markets usually make a purchase because they need something, not because they want it. Their decisions are also unlikely to be affected emotionally. When marketing to this audience, it is all about making sure they feel as though the need what you are offering. On the other hand, B2C marketing requires a much more emotional approach. As the general public, our purchasing is affected by our feelings and also, those around us. This should be reflected in your campaign.
Common Marketing Psychology Tactics
Not every business uses marketing psychology tactics however, some are definitely proven to be wildly successful. Below, we go into detail covering a range of methods that you may wish to employ in your marketing strategy.
Starting subtle, clustering is something most of you may be doing without even knowing it. Afterall, it seems pretty logical.
When reading information, it’s unlikely that you are going to retain everything. As humans, we have a limited memory. However, when marketing, you want your campaign to be as easily digestible and memorable as possible. This is why we use other formats such as graphics and videos to keep people engaged.
Clustering is a tactic in which you group information together in a logical way. This is proven to help individuals to absorb more detail. If you are promoting your free delivery and returns, for example, keep this information bunched together. In addition, use formatting such as bullet points and different text sizes to keep things palatable. This is a tactic our Essex digital marketing agency use frequently, and it can be really effective.
The Scarcity Theory
When it comes to The Scarcity Theory, this one may not suit you all. Moreover, some people may have controversial opinions on the matter. Regardless, it is a tactic that lots of businesses use.
The Scarcity Theory refers to when companies use phrases such as ‘hurry, only two items remaining.’ These are used because psychologists believe people place more value on hard to obtain items. This method makes your products appear more sought-after. In other words, it rushes consumers into making a purchase so that they don’t miss out.
Of course, it goes without saying that you need to be incredibly careful if you are implementing this theory. The wording you adopt is really important and requires cautious consideration. You don’t want to sound too pushy. This can have the reverse affect and deter people from buying from your brand at all.
Lastly, we have the Reciprocity Principle.
People like feeling connected and valued. It’s thought by many that giving to your consumer first is what encourages them to make a purchase. In other words, making them feel like they need to return the favour. Most of you may already be doing this subconsciously. By offering advice on your blog, sending a newsletter or offering a discount code, this persuades people to buy, simply because they feel like they owe you.
Contact Our Essex Digital Marketing Agency
If you’re looking to revamp your digital marketing strategy, why not consider using marketing psychology? Still not sure where to start? Our Essex digital marketing agency has got your back! What’s more, we can advise which tactics are right for you and where you should be investing your time. For more information on our services and who we are, get in touch. You can do so by clicking here!