Hey fellow marketer,
Ever wondered why you make certain purchasing decisions or feel drawn to specific products? Much of it stems from clever marketing strategies rooted in psychology.
In this edition of A Marketer's Mindset, we're diving deep into 15 psychological triggers and cognitive biases that play a major role in your decision-making process:
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1. The Halo Effect:
First impressions are lasting ones. Brands capitalise on this by linking positive attributes with their offerings.
2. Serial Position Effect:
Brands strategically place powerful messages at the start and end of their content, banking on the fact that you'll most likely recall those positions.
3. Recency Effect:
Ever noticed a product everywhere right before making a purchase? That's marketers ensuring their brand remains top-of-mind.
4. Mere Exposure Effect:
The more you see, the more you prefer. Continual exposure to a brand via various channels increases its familiarity, and thus, its appeal.
5. Scarcity and Urgency:
Those "limited time offers" and "only a few left" prompts? They’re techniques to spark your FOMO and get you to act quickly.
6. Compromise Effect:
Brands love to present their product as the ideal middle option, knowing that often, it's the safest choice we make.
7. Bandwagon Effect:
"Everyone's doing it!" By showcasing social proof, brands leverage our inherent desire to follow the majority.
8. IKEA Effect:
That pride in a DIY project? Marketers encourage your involvement in product creation, increasing its perceived value to you.
9. Pygmalion Effect:
High expectations can indeed shape outcomes. Elevated promises in marketing make products seem top-tier.
10. Confirmation Bias:
Brands produce content that echoes what you already believe, solidifying your inclination to choose them.
11. Peltzman Effect:
Feeling secure leads to risk-taking. Thus, offers of guarantees and warranties make new products more enticing.
12. Blind-Spot Bias:
Think you're free from biases? Marketers count on this, subtly guiding you to their products.
13. Trust and Social Proof:
Brands use testimonials and reviews to build trust, showing you that others vouch for their product's quality.
14. Anchoring Effect:
The first price you see sets the tone. Brands list higher prices first, making subsequent prices seem like bargains.
15. Loss Aversion:
We hate losing more than we love gaining. Brands highlight what you might miss out on, rather than just benefits.
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Stay Alert!
These psychological intricacies shape our daily choices. By recognising them, we can make more informed decisions. After all, knowledge truly is power! 💪
💡 Your Thoughts Matter:
Have you felt the influence of these triggers in your life? I'd love to hear your insights! 💬
Warm Regards,
Jack Willoughby
jackpwilloughby.com
