Have you ever noticed why the logos of famous companies are so colorful? Have a close look! Food brands, especially restaurants, severally use red color the most.
Have you ever seen the logos of KFC, McDonald’s, or Burger King? Why do they use red color in their logos? It’s Definitely to attract customers’ attention, and it’s also scientifically valid. However, the question is, why RED? According to some psychologists, the red color on the logo of a restaurant is more likely to heighten people’s hunger than do other colors. Subsequently, more hunger, more sales! That consequently promotes businesses.
Not only these giant brands, but many other companies are also getting their sales increased by using psychological tricks. And it’s really working! Have you ever thought of about your consumer’s purchasing psychology? Do you have any psychological strategy which is suitable for your company – no matter how big or small your business is? If the answer is NO, then it’s already too late, start practicing from today. Companies have used some psychological strategies to trigger their business sales, and they are vehemently successful. Let’s know about five (5) most important psychology tips that will make it easier to increase your business sales.
5. Grasp The Emotion of The Product
Have you ever bought a product which your intellect did not allow you to purchase? The probable answer is “Yes”, right?
We all, at least once in our lifetime, have become fooled by listening to our emotions rather than to the intellect. Emotions very often drive us to buy something which we don’t want to purchase because we merely need them. This is very common, and it happens to all of us.
Antonio Damasio, professor of neuroscience at the University of Southern California, asserts that emotion plays the most vital role in purchasing things – it expands from buying chocolates to cars and houses.
Most often, we feel it unnecessary to think of the usefulness and adverse effects of a product while we purchase anything emotionally. We follow or like to support our emotions. If you pay attention and look into the tagline or subtitle labeled on a product of a particular company and their marketing method, you will very easily find it that they are pretending with your emotions. They are manipulating you emotionally. We suggest you use this unique technique as much as you can. Try to bring out emotions associated with your products and present them on your product tagline or subtitle or in the advertisement. This unique and effective technique will definitely benefit your business to succeed.
But remember very carefully, apply this method in a strict ethical way, maintain human moral ideology, and don’t ever try to mislead your customers.
4. Display of Social Proof
Occasionally, at the time of crossing the road have you ever seen a big crowd cueing up before a restaurant or a store? Seeing the long cue, it definitely came to your mind, “What’s going on? Should I go inside?” This concept is called “Social Proof”. Social proof is a psychological phenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation. The cue will be longer when other curious people see it and join it like you. Consequently, it will add value to the restaurant or the store.
You can hardly imagine how much value this Social Proof can bring to your company. You can do it the same way online through your website or Facebook Page by showing the buyer’s review, testimonials, and customer’s ratings about your products. According to a report of Spiegel Research Center, nearly 95% of shoppers read online reviews before making a purchase. So Social Proof can be a great marketing tool for your company.
3. Use The FOMO Effect
Fear Of Missing Out, or FOMO, is a pervasive apprehension that others might be having rewarding experiences from which one is absent. This social anxiety is characterized by “a desire to stay continually connected with what others are doing”. Most of the customers very often wait for the special offer for their chosen products to buy on the Black Friday or Cyber Monday or any special day. Traders usually take the advantages of these days and successfully draw the attention of their valued customers. You can also apply this technique to scale up your sales. You just need to spread the particular offer, and you can do it very efficiently through online boosting, advertising, or posturing. People will be attracted to your products quickly.
‘50% OFF’ or ‘Limited Time Offer’ is very often written to attract the customers. These types of offers make the customers compelled to buy the products mostly. Some several stores may offer the ‘sale’ which create advantages for the customers to compare the prices offered by various stores. They only buy the product they like and if they find the offers quite reasonable and less than that of others. So if your offered price is minor than that of the prices offered by the other stores, they will definitely buy your products.
2. Implement Action–Reaction Theory
Assume, there are 20 items in a food menu of a restaurant and only 15 items are sold out every day, but other five items of food are hardly sold out. After some days the owner of the restaurant makes an announcement “If any customer takes two items of food for a consecutive ten days, he or she will be offered the other three items of food for free of cost.” After the announcement, the demand for those five items of food has increased suddenly.
Customers began to eat the five items of food more than the 15 items of food which previously run at a good pace. This type of psychological method is called ‘Action-Reaction Theory’. According to this theory, consumers definitely like to buy a food product to meet their hunger, but they also want to have it at a special price or an offered price.
1. Goldilocks Effect
We all know the story of Goldilocks and The Three Bears, do you remember! Goldilocks once went for a walk and saw a house of some three bears. As Goldilocks walked for a long while, she walked in the kitchen without wasting her time. She found three bowls of porridge in that kitchen. She did not take the first bowl as she found it too hot. She also did not take the second bowl as she found it too cold. Lastly, she tasted the third bowl, which she found neither too hot nor cold, and she ate all it up.
Like Goldilocks, customers like to buy a product neither at a very high price nor at a very low price. They rather choose products at a ‘Middle Option’. That’s why you must offer a ‘Middle Option’ to escalate your product selling.
Let’s apply all these psychological tips and notice an enormous impression on your traffic. Wish your successful business life.