4 Powerful Psychological Marketing Techniques

2013
03.03
How many choices of ice tea do we really need?

How many choices of ice tea do we really need?

Throughout my years in branding and marketing, there are a few techniques that really get more positive responses from consumers. Quite consistently.  Here are four techniques:

1) Give away FREE things. You will see a stampede of consumers going after your free samples or freebies. Yes, you will also attract a significant percentage of people who are just interested in free products, and not really in your brand. However, these people will also try your products, or give them to their friends or family members. By giving away free things, you get more word of mouth and increased review buzz among consumers.

2) Up your prices. Whenever we see a category full of competitors, our first natural human instinct is to lower prices and hopefully attract more people to buy our products. This does not work well, as most competitors will think just like you. Instead, be brave and try for a higher price. A higher price denotes higher quality, or a superior product automatically, unless you deal with commodities. A recent new face wash brand priced itself at a ridiculous 10 times higher than competitors, but yet business was good for them!  Go figure!

3) If you do retail, ensure that your ambience is top notch. Research has shown that restaurants with superior ambience give their customers a positive expectation the moment they walk in the door. When they eat your food, the food will somehow taste better compared to a restaurant with a lesser ambience. Consumers will also be more forgiving of mistakes in service.

4) Restrict the options that you offer consumers. With the proliferation of line extensions, product offerings have exploded in recent years. I was shopping for some stationery yesterday, and the choices available for the ordinary pencil is staggering!  The category is sure more exciting today, but definitely made making choices harder and more laborious. Buck the trend and limit your product offerings to the least possible, showcasing just your very best products! Consumers will love you for enabling them to make choices easier and faster!

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One Response to “4 Powerful Psychological Marketing Techniques”

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