Summary of "15 Psychological Marketing Triggers to MAKE PEOPLE BUY From YOU!"
Main Financial Strategies and Psychological Triggers:
- Halo Effect: First impressions significantly impact future perceptions of a brand. A positive initial interaction can lead to brand loyalty and buffer against future negative experiences.
- Serial Position Effect: Consumers remember the first and last pieces of information best. Marketers should focus on strong opening and closing messages in their marketing funnels.
- Recency Effect: The most recent information is often viewed as more important. Increasing the frequency of marketing messages can enhance consumer engagement and decision-making.
- Mere Exposure Effect: Familiarity increases likability and trust. Frequent appearances in front of customers can improve their perception of a brand.
- Loss Aversion: Consumers fear missing out (FOMO). Creating urgency through limited-time offers or scarcity can drive quicker purchasing decisions.
- Compromise Effect: Offering multiple pricing options (low, middle, high) can lead consumers to choose the middle option, perceived as a compromise.
- Anchoring: The first price presented serves as a reference point for evaluating subsequent prices, making them seem more appealing.
- Choice Overload: Too many options can lead to decision paralysis. Simplifying choices can help customers make decisions more easily.
- Framing Effect: Presenting information in a positive light can influence decisions. The same information framed differently can lead to different choices.
- IKEA Effect: Consumers value products more when they are involved in their creation. Engagement in the process can enhance perceived value.
- Pygmalion Effect: High expectations can lead to better outcomes. Treating customers as capable can enhance their performance and satisfaction.
- Confirmation Bias: Consumers favor information that confirms their pre-existing beliefs. Marketers should align messaging with the values and beliefs of their target audience.
- Peltzman Effect (Risk Compensation): Reducing perceived risk in offers (e.g., guarantees) can encourage purchases.
- Bandwagon Effect: People are influenced by the actions of others. Showcasing social proof can encourage potential customers to follow suit.
- Blind Spot Bias: Consumers are often unaware of the biases affecting their decisions. Marketers can ethically utilize these biases to guide consumer behavior while maintaining transparency.
Methodology/Step-by-Step Guide:
- Evaluate and enhance first impressions (Halo Effect).
- Structure marketing messages to emphasize the first and last points (Serial Position Effect).
- Increase frequency of messaging to leverage the Recency Effect.
- Create urgency through scarcity (Loss Aversion).
- Offer multiple pricing options to utilize the Compromise Effect.
- Present initial high prices to establish Anchoring.
- Simplify choices to avoid decision paralysis (Choice Overload).
- Frame offers positively to influence perceptions (Framing Effect).
- Engage customers in the creation process to enhance value (IKEA Effect).
- Set high expectations to improve customer outcomes (Pygmalion Effect).
- Align messaging with target audience beliefs (Confirmation Bias).
- Reduce perceived risk with guarantees (Peltzman Effect).
- Use social proof to encourage action (Bandwagon Effect).
Presenters/Sources:
The video appears to be presented by a marketing expert who discusses these concepts based on established psychological principles. Specific names are not mentioned in the subtitles provided.
Category
Business and Finance