Have you ever wondered why people pay attention to your brand, click on your ads, visit your store, buy things from you or share your products with their acquaintances?

The “why” question behind consumer psychology affects each brand touch point and increases the likelihood of sales conversion, so businesses need to pay attention and dig deep into this issue.

Join Kounselly to learn about this “why” question from the perspective of marketing psychology and help businesses grasp the factors that influence the behavior of their target customer group, thereby being able to Create effective marketing strategies, “hit the nail on the head”!

What is consumer psychology?

Customer psychology is a set of all the emotions, thoughts, needs, expectations and behaviors of customers when interacting with a business’s products, services or brands.

Understanding customer psychology is one of the most important factors determining the success of a marketing strategy because it directly impacts the user’s purchasing behavior.

4 factors affecting customer psychology

Rules of Social Proof

This rule talks about the hypothesis that people tend to observe other people’s behavior before acting. Accordingly, for a new product, customers often make purchasing decisions based on the majority of previous users. Because they do not have personal experience with the product, they turn to current or previous customers to gain a clear understanding of the potential of the product they will experience. And many studies have shown that consumers trust what other consumers say about brands more than what brands say about themselves.

For example:

• Certification from experts
• Recognition from the media
• Rating system on Google, Facebook,…
• Positive reviews from influencers and celebrities
• Interact on social networks

See more: How to apply flywheel to marketing campaign

Rules of Scarcity

This rule stems from the hypothesis that “the rarer an item is, the more valuable it is” (think of precious stones like emeralds, rubies, etc. – their scarcity makes them highly valuable).

Applied to marketing, this principle states that people place a higher value on items, if there is a shortage of a certain element e.g quantity or time. This concept refers to the fear of missing out (also known as FOMO). Accordingly, consumers do not want to miss out on a product or opportunity that may soon disappear. Scarcity creates a sense of urgency that motivates people to buy quickly without much consideration.

For example:

• Limited quantity
• Limited edition
• Only X products left
• Order today to receive incentives
• Promotion will expire within X hours

Rules of Reciprocity

When someone gives you a gift, do you often feel like you have to give them something in return, or feel guilty if you don’t give them something? Originating from this psychology, the rule shows that we will tend to respond to certain actions with a similar action, for example, if a brand gives away a sample product, customers will be more likely to buy another item from the brand again.

Try reaching out to customers with something – free – to initially build community or user loyalty. When customers are excited about such small gifts, businesses are one step closer to building a strong relationship with customers.

For example:

• Discount vouchers
• Free e-book giveaway
• Product sample for trial
• Gifts included
• Free course

Rules of Curiosity

Curiosity is one of the characteristics associated with human instinct and psychology. This natural nature makes consumers feel interested in certain products, thereby motivating them to learn about and own them. Therefore, attracting customers’ eyes and using curiosity to hold them is a potential first step to successful sales.

Businesses can apply this psychological rule in their marketing strategies, or simply in email titles in email marketing, articles, or call-to-action buttons. Apple is a typical example that always creates a media fever every time it releases a new version, because they often keep all information about the product secret until the launch day, arousing curiosity and speculation from the public about new features and designs. As a result, as soon as they are officially launched, these iPhone versions always make users excited and willing to line up for hours to own the latest iPhone.

Examples of post/email titles:

• Do you know
• How to…?
• Maybe you don’t know
• Decoding the mystery…
• 10 tips…

Simply put: The rule of social proof originates from the hypothesis that “people tend to observe the behavior of others before acting”. The rule of scarcity originates from the hypothesis “the rarer an item is, the more valuable it will be”. The rule of reciprocity originates from the rule of “reciprocity”. The rule of curiosity originates from human curiosity

See more: IMC – Effective integrated marketing communication strategy

Applying the laws of customer psychology in marketing will help businesses understand customer behavior, thereby devising appropriate marketing strategies, effectively influencing their purchasing decisions.