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Marketing psychology

We have heard a lot about psychology. The human being is a very complex entity made up of body, mind, emotion, but being more practical, what does this have to do with running your business? Learn a little more about marketing psychology.

Well, sit down and read…

As we commented earlier, the human being is not only a physical element, but an accumulation or balance between several units that operate, among them, and one of the most important units are the mind and emotions, within these elements operate many complexities such as motivation, satisfaction of needs, whether physiological or existential nature that generate certain expectations in the subject and are formed as the human being develops and collects learning channels in the environment, what we call experience.

But again … What does it have to do with marketing and my business?

We tell you all about it.

There are many systems that operate as intrinsic engines in the individual, these are the needs, motivations, emotions, intentions, and we have to understand that these are the same elements that will generate the impulse to buy.

Do you see where we are going here?

Marketing and psychology have been related since they were born. Both aspects study the buyer’s behavior and the seller’s intentions, their relationship with the company, what motivates or drives them to click and contractually commit to generate the purchase-sale transaction.

Thus, in this way we can understand what the customer wants, what motivates an audience at a given time or circumstance, and predict where marketing strategies should be directed to transform the person into a customer or allow the business to be considered a feasible selection option.

An example would be 2020; when the pandemic began, thousands of companies were going out of business due to the uncertainty of what was happening around the world; other companies understood that this should be an opportunity, a pause and even a reinvention of their objectives. Many companies bet on awareness management, under the premise of educating their customers and aiming at attracting others as well. Information management and educational bombardment was needed, rather than selling the product itself, leading companies that had a massive drop in revenue to recover tremendously in 2021, gaining incredible organic uptake and increasing their revenue more than at any other time.

But, what did they do to make it happen?

As we said before, many companies understood the world; they reviewed the circumstances that most experienced at the time, realizing that it was not time for conversion per se but to make a complete change in market objectives and control. With emotional support and many strategies through information channels and networks, they would continue to count on the loyalty of their customers and target new potential conversions.

E-commerce giants experienced a considerable increase in sales during the confinements due to the pandemic; one of the biggest beneficiaries was Amazon, which hired approximately 175,000 more workers to handle its orders and also increased job opportunities worldwide. It is estimated that their profits were $11,000 per second, unlike other years, and they studied the environment of everything that was happening at the time, boosting the slogan “Stay at home, Amazon does it for you…”

Not only in terms of sales, but also conducted a blitz through all channels of information about infection prevention education programs, provision of safety equipment. Their strategies were approached with the knowledge that customers were going to buy three times as many products because they were confined and afraid to go out and do their usual shopping in supermarkets or ordinary stores.

This was not a deliberate study. It was a social-level psychological mapping done by psychology and marketing experts working together. It sounds easy, but it is an investment of time and an arduous analysis of circumstances around the world.

Another example of marketing psychology is Carolina Herrera (CH); this brand has arduously studied Abraham Maslow’s pyramid of needs. He was an American psychologist who created the pyramid of human needs during World War II. The theory pointed out that humans have needs, and as we fulfill one, we move on to the next.

CH manufactures luxury clothing with a minimalist touch that aims for conservatism. Everything about the brand is standardized. From the creation of its products to the way they enter the trade, which is generally a relationship of value and commitment between the company and a single exclusive store, not wholesale. It is not because they are expensive items; it is that this policy of standardization is maintained as an emblem of the brand.

This brand generates a feeling of exclusivity in those who can afford the luxury of its garments. The curious thing is that it generally targets the “everyday style”. Its marketing strategies are aimed at the general public, not at those who buy its expensive garments, but at those who seem suited to wear them. It also uses the slogan “less is more”.

This gives it a characteristic distinction and generates frenzy in those who cannot afford one of these garments but who take the tips launched by the brand to be aligned with the “sense of affiliation and social belonging” that we all hold and that allows us to integrate into society. Again, with the pyramid of needs, as one need is satisfied, the next one rises, in this case belonging and then having the necessary amount of money to buy one of these garments.

Complex? It’s just marketing psychology.

Marketing agencies have to weigh the study of the market the company wants to target; if an audience is a sports fan, it is not right to use pastel colors in the right color palette to design the style of their social networks; It is studied that those I want to address are people related to sport, so we have to use elements such as fanaticism, passionate emotions, overflow, food and entertainment. The language used must be sports-related jargon, i.e. there must be coherence between content and audience.

Social behavior is studied extensively in marketing, as the sense of affiliation and those patterns of behavior are repetitive in target audiences, which has nothing to do with individual structures or daily behavior.

Therefore, marketing psychology has many different studies on predicting click-through behavior and converting a sale; it also studies the Zeigarnik effect, which creates expectations in an audience. This effect refers to giving the audience a preview of what we want to offer, so it will generate needs and engagement with that customer.

There are many aspects to take into account. It is essential for a company, giant, medium or small, to hire advertising agencies with experience and knowledge to understand the target customers they want to attract to the business and continue to grow in the long term.

Highlight.

Marketing and psychology have been related since they were born. Both aspects study the buyer’s behavior and the seller’s intentions, their relationship with the company, what motivates or drives them to click and contractually commit to generate the purchase-sale transaction.