Businesses should adopt marketing psychology to influence purchase decisions

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 20, 2021, 3:29 AM UTC

Incorporating psychological marketing strategies with digital can help brands evaluate consumer behaviour.

Marketing psychology blends psychological methods with marketing efforts, to account for customers' irrational and unconscious decisions, enabling brands to build complex and effective campaigns. Leverage marketing psychology to analyse user behaviour, inform branding decisions, and enhance marketing, sales, and customer relations.

Including user behaviour analysis as part of marketing psychology lowers customers’ shopping stress, optimises the process, and personalises their experiences. Brands can benefit from marketing psychology, as purchasing decisions are often influenced by factors like fear of missing out (FOMO), product reviews, authenticity, and more.

Understand and implement strategies like loss aversion, scarcity and urgency, clustering, social proof, and more to effectively integrate marketing psychology into the mix. For example, Tommy Hilfiger highlights products as “exclusive” to convey scarcity to prospects and prompt purchases.

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