My last article is about 5 principles of psychology that will help you stay ahead of the game.
This article uncovers 5 more principles that will help you get even ahead.
Anchoring
Anchoring is like setting the first price for something to influence how people see the value of other prices.
Imagine you see a shirt originally priced at $50, but now it's on sale for $30. The $50 is the anchor – it makes the $30 seem like a great deal.
Why I think anchoring is important in marketing
In marketing, anchoring is like a strategy for sales.
You start by telling everyone the initial price of a product (that's the anchor), and then you show the sale price next to it.
You can even show the percentage your customers can save from the sale.
The Baader-Meinhof Phenomenon
Aka the frequency illusion in marketing is like when you learn about a new product or brand, and suddenly you start seeing it everywhere.
It's not that the thing just appeared; it's just that you're more aware of it now.
Marketers use this by making their products more noticeable.
Sounds weird right? This is how it happens.
It's caused by two processes according to PS Mag.
First, you notice something new, and then you start seeing it everywhere because your brain is on the lookout. Second, your brain tricks you into thinking it's super common. It's like when you learn a new word and suddenly hear it all the time because your brain is paying extra attention to it.
Here's how marketers can benefit from it
For marketers, the Baader-Meinhof Phenomenon is why keeping people interested is crucial.
When someone begins to notice your brand (like checking your website), you want to be everywhere for them.
Send emails and show ads tailored to what they like, and you might boost the chances of them becoming customers.
Verbatim Effect
It means people tend to remember things word-for-word.
It's like the brain's way of remembering exactly what it hears or reads.
So choose your words carefully because what you say can have a big impact on what people remember about your brand.
Here's how to do it
Spend extra time making your headline catchy and easy to share.
Make sure it clearly says what your content is about.
This way, when people search for info on that topic, they'll remember your content and find it easily.
If you've done a good job, your content will show up in search results.
Clustering
Clustering is like grouping similar things together to make them more appealing.
Imagine at a store, putting all the cool video games in one section and all the trendy clothes in another.
This helps people find what they like more easily.
How to make use of clustering?
Organize your ideas by grouping similar topics, using bullet points or different headers.
This not only makes your writing easy to read but also improves memory retention, which is particularly helpful when dealing with extensive content.
Loss Aversion
Just like the name suggests it's like when you have something with you, and you really don't want to lose it.
Why I love this principle
Even though some marketers might use it in not-so-great ways, loss aversion is a big deal in marketing. It can help with things like free apps that want you to upgrade. Let's say they unlock a cool feature for free, but only for a limited time. Once that time is up, you lose that feature unless you pay. It's a tricky move, but understanding loss aversion is crucial for any marketer.