Marketing products are very much a psychological process. In fact, the whole area of consumer psychology is devoted to figuring out how to get people to buy things when someone is selling a certain product.
However, most marketers and retailers are not psychologists. It is an advantage for many successful retailers if they employed psychology through winning the hearts and minds of their customers.
In 2017 alone, National Retail Federation (NRF) final sale had reached to nearly $700 million, which shows that last holiday’s e-commerce results prove retails is the most nimble industry in the economy.
“Retail today doesn’t look like 10 years ago, and it certainly won’t look the same in another 10 years” says Mathew Shay, the NRF CEO and president, noting how the retail industry continues to transform and reinvent itself to meet consumer demands.
It also implicates on how retailers utilize their knowledge and strategies through influencing customers’ mind-set to work and shaping the way products are psychologically involved in order to meet customer’s personal and emotional needs.
One of the famous professors of psychology and marketing, Robert Cialdini introduced six ways on how you can get to persuade the mind-set of the consumers. Anyone who sells things for a living, online or offline, should apply these tactics and principles to win customers’ decision-making.
Consistency or commitment
Consistency commonly occurs when someone commits on a small level to something. They are more likely to be consistent and continue committing to it later. An example in the sales world is to “try before you buy”.
As a retailer, if you can get customers to make small commitment to your brand (such as following or liking your page and signing up for your email), they are more likely to eventually purchase from you. This provides more an anchor towards future commitment.
However, don’t be afraid to spend marketing dollars to buy a customer who makes a small purchase. Eventually, small purchases beget larger purchases later on.
Reciprocation
Basically, we generally aim to return favours and pay back people that have given us something.
By offering something to consumer can help them feel obliged to return the favour to the retailer. Again, in the sales world, this could be a “free gift” added in.
Here are list of examples for you to promote reciprocity:
- Free gift with purchase
- Free content and guides
- Free pre-sales consultations
Liking
The key principle of liking is that consumers are more likely to be in favour to a request if they feel a connection to the person making it.
Likability may also come in the form of trust, but either way, we are influenced by those who we are affiliated or admired to.
For instance, company brands would hire celebrities to endorse their products – so that people will transfer their love of a named celebrity to the product he/she is endorsing.
Social Proof
Given that we are considered as social creatures, we tend to like things just because other people do as well, whether we recognize them or not. It may sound as a conformity, but in reality we all want to be part of the group. The presence of the crowd is a signal that we are on worthwhile track.
When this crowd are using the same product, we are also influenced to use that product as well.
Yet, do we require a logical proof that a product is working at its best?
No, all we need is social proof.
Here are few ideas to promote social proof:
- Testimonials
- Pictures of customers with their purchases
- Facebook likes
- Reviews
Authority
We tend to feel obliged and responsible to certain individuals who are seen as being authoritative in their positions. A best example would be that of advertisers of pharmaceutical products: often a doctor is seen promoting their products to help to promote a level of authority. Basically, we don’t normally argue against experts in their field of specializations.
Here are few ideas to promote authority:
- Use product seal and trust-symbols
- Display your achievements and award-winning products.
- Flaunt your number of years in business, credentials of staffs and your highest sales volume
Scarcity
Most consumers would be motivated to purchase something before it runs out and thought they might lose out on something. Like social proof, scarcity is often portrayed as artificially limiting supply or even saying “limited stocks or limited edition” only. When there is only one left, everyone seems to want it!
Retailers trigger this effect by using all kinds of tactics to suggest that products (or low prices) might soon be gone in the market.
Here are few ideas to trigger scarcity:
- Clearly display the number of items left in stock.
- Use a countdown timer in the hours and minutes leading to end the promo offers.
- Display a clear and firm deadlines to all of your offers.
Indeed, it is your choice as retailer whether to apply these psychological tactics to manipulate, or to serve your customers. Remember, if you master the arts of persuasion and tactics of influencing, your whole set of business can be more enhanced and be widely recognized. However, it is about taking risks of the possible outcome of your business in the future. It is still important to be guided by your genuine care and value for your customers rather than desiring to simply making the most profit as possible from them.