What do you think your customers feel? What are they really looking for? Marketing teams attempt at answering these queries each day however can you accurately measure the human behaviour when it comes to marketing? Naturally, you employ imagination as well as creativity and storytelling to target your audience however, the psychology and behavioral economics could offer a scientific insight into the human\’s not always rational brain. In the 1970s the psychologists Amos Tversky and Daniel Kahneman presented research suggesting that our decision-making skills aren\’t so rational, as many of us would like. Humans are instead emotionally driven and frequently impulsive who often employ mental shortcuts to make certain conclusions.
In the case of website design, if you are utilizing the principles around those cognitive biases which affect visitors, you can increase your conversion multiple times. If you understand how these biases operate and how they affect your site, you can create your website to be a site that makes use of these to improve conversion rates. For example, the loss-aversion bias is that people tend to act to prevent losses rather than gain. Therefore, should you be able to create an atmosphere of scarcity on your website and inspire users to take the intended step.
Cognitive biases are lapses in reasoning making decisions, evaluating, or any other cognitive processes, usually due to keeping one\’s personal opinions and preferences despite the rational facts and information that might suggest to the contrary. Psychologists investigate cognitive biases in the way they pertain to reasoning, memory, and decision-making. In simple terms our brains create easy rules and algorithms over time to make choices to avoid being involved in a complex rational process of multi-dimensional evaluation.
Let\’s take a look at each step, and the way this online store uses strategies based on marketing psychology to help you to make the purchase you want to make. As we have discussed in the past there are typically four stages to the conversion journey:
Attention – Initial introduction where you want to capture the attention of your audience. The initial stage of the buying process that drives awareness regarding the product
Interest – The second stage of the prospects journey where you need to generate interest to drive them to the next crucial stage
Desire – moving buyers attitude from “I like” to “I want.”
Action – The goal is to motivate those who are impacted by this marketing campaign to take actions and then purchase the item or service.
Human attention spans are fleeting Some say it\’s comparable to that of the goldfish. When I make high value sales and pitch huge deals, i am acutely aware that if I am not grabbing the attention of buyers in five seconds, the remainder of the pitch is a waste. This requires a thorough analysis of buyer\’s pain points. You must possess a deep understanding of your target market and your customers. Most of the time, if you\’re capable of creating an\”aha\” moment, in which you have something that is unique that triggers a rush of dopamine, which leads consumers to make a decision. It also has a similar effect, where consumers perceive your brand as a match to their own persona which is why they are enticed to join the bandwagon. This is what happened with the launch of iPhone.
You\’ve landed on the home page, but it\’s localized to your country of origin. First that be noticed is the customer reviews in your own language. This creates a nudge of confidence in the website and its offerings. Marketers refer to this as\’social proof\’. Our nature drives us to the positive perception of something that has been acknowledged and appreciated by other people. It is the brain bias that drives social proof, the tendency to believe and act in the same way that people who are around us think and behave. Convertbloom lets you build responsive, fast loading websites using these design elements in a matter of minutes. Once you have signed up, simply choose the template and the blocks you wish to add make changes to your google and facebook pixels, and you\’re ready to grab the attention of your visitors.
Other ideas to think about include the halos effect. The halos effect is a standard psychological phenomenon that has been utilized by marketers for nearly 100 years. This is the reason we\’re stunned when a beautiful, young man is found guilty of a crime that is violent or a woman who is dressed in a scruffy way is revealed to be millionaire. This is the reason why first impressions are vital when it comes to interviews for jobs. The Halo effect is a mental bias in which our brain takes only one thing (or only a few) and formulates on that point of view about a company, brand, or individual. From an marketing viewpoint, this can be either a positive or bad thing, based on the impression that people form regarding your brand.
Page design and loading time First impressions matter lots and the two first things visitors are likely to notice about your website is the design and loading times , even if they aren\’t aware of that it. If your site\’s design and loading speed are adequate that they don\’t even notice the difference. Consider what impression you wish your customers to leave with when they land on your website. Do you want to appear as an official brand or luxury retailer, or perhaps something more humorous? Your design must reflect your image as a brand and what expectations your target viewers have for them. Be sure to design pages that take less than two seconds to load or else you\’re making a the wrong impression and lasting impression and not attracting attention.
Make a statement with your product: Another brand that has mastered the halo effect was Apple. While we don\’t only think of its expensive prices with high-end products, we\’re also willing to spend the extra cash to buy the gadgets it makes. How did Apple transform itself from a niche manufacturer of computers to become the most sought-after consumer electronics company in the world? It all began with the iPod tiny device that cost just a less than the prices the MacBooks and iMacs would go for. However, Apple promoted the iPod as its top-selling product, despite the modest markup for each purchase. When it launched its iPod, Apple created a new look that was a halo effect, which would boost its popularity and lead to the iPhone company we are today. In addition, it made profits rise of 384 percent by 2005.
Make sure you capitalize on your brand\’s strengths Take advantage of your strengths as a brand: In 2014, M&S integrated its general merchandise and food assortments into one marketing campaign. The idea was creating a \”halo\” effect the entire assortment of products that consumers are able to associate with the highest standards of quality. The British retailer is not afraid to admit for being more expensive than the typical high-street retailer. Instead, it concentrates on its main strengths: quality. In addition, by bringing together the two products, it has created one halo effect that encompasses the whole brand. In addition to helping M&S establish a consistent message across the two aspects of its business, but it also increased the amount of customers who have already investing in one line of business and then to the opposite. The halo effect could be an effective way to justify the unpopular (high cost) with something more significant (premium high-end quality) for your target customers.
This is typically a approach to a category\’s page. Now , you\’re browsing category pages in search of offers. What you\’re attracted to is carefully planned. Let\’s take a look at each of the sections that catch your eye and analyze the content they\’re providing.
The banner is in the upper left corner the screen, promoting the possibility of night pickup. Another example of a cognitive bias , the hyperbolic discounting. This is a sign of our desire to purchase instantaneous goods instead of saving the money waiting.
Or, in other words ask yourself, would you prefer to have $200 today or $300 in the next year? The majority of us would prefer to get the reward today rather than be patient, even if it was the most obvious benefit. A significant portion of your customers is willing to spend more money for a quicker delivery time.
To benefit from this, you\’ll need to configure delivery options that are that are specific to each region because certain marketing software companies provide services like Web Layers to facilitate this capability.
The scarcity effect as an example\”Blockbusters of the Week\’
The best deals that the e-shop can offer, such as discounts that are only available for a short time are on display here. Discounts can be offered for the whole week or even an hour or so. They convey a sense of urgency that prompts that you should assign more value to them.
This shows the mental biases associated with this Scarcity Effect: designed to create a higher value on something that is scarce as opposed to placing a lower value on things that are readily accessible. Deals like these can also trigger the feeling of FOMO, or anxiety about missing out. Like we don\’t want to miss the chance to meet friends or being out on a beautiful day, the notion of missing out on a wonderful sale that\’s only available for a short time is an excellent motivator for making purchases.
Alongside the scarcity of information and the social proof In addition, the interest phase is an ideal stage to nudge to your anchoring bias. Anchoring bias occurs when people tend to place greater importance on the first piece of information they get. For instance, the first review that someone reads about the product will have a greater influence on them than the subsequent or third. The first price that people see for a product sets expectations and can be used to influence the way that people react to pricing. In this instance, it\’s ideal to use an aspirational value or price to the merchandise. At the time that Steve Jobs introduced the iPad with 999, he put 999 prominently on his background until he stated 499 as the price. At that time, the iPad was a bargain.
Reciprocity provides knowledge and insight to your customers
The eye is drawn to those three boxes at the end of the page. they offer to assist you in making an informed decision or to simply inform you about a specific area of their knowledge. Here, you\’re offered:
There are many reasons why you should go to this particular retailer
Tips on how to select the perfect phone for you
Assistance with the purchase of your mobile
There\’s a broader feel that it gives that makes it seem like you have to search elsewhere for everything related to the purchase you want. It creates a sense of debt, and creates the feeling of obligation towards potential customers to purchase something from this website.
It is a cognitive bias that is known as Reciprocation Tendency and the desire to repay the favor whenever we receive help.
Social proof. One of the more well-known loss-avoiding and halo effect strategies that you can find on sites includes social proof. When you include testimonials from highly respected influencers, visitors are convinced that your service is always at the best standard. When you display logos of your most prominent customers, they believe this is the standard of the business you run every day. Reviews from customers provide a benchmark for potential leads.
When you narrow down your selection of phones as you narrow down your phone selection, you are directed in a specific direction in the page(s) of the category page(s). Let\’s examine three methods employed here:
This is the place where nudge principles can be extremely effective. The nudge principle operates with the structure of choice. At this point, customers usually want to be led. You can design your structure in a way to the decision-making process of customers. This can be done by, for example, adding options that are stubs, and so on. Marketing psychology has shown that you, the consumer react differently to a product based upon how it is presented. This is known as the framing effect which is a cognitive bias in which a buyer will see a product as a loss or gain option, based on the fact that the product is offered with negative or positive implications. For instance, the products that are priced the lowest as \’Traditional\’, rather than the negative-sounding \”cheapest\”. In the same way, the most costly products are referred to as \”Artisinal\”.
The central-stage effect: pushing customers towards the middle option. Another strategy is providing three price categories. We, the majority of us when looking for an upgrade to our phone, are looking for the best quality phone however, we have a budget. This is why we tend to choose the frame category within the middle price bracket\”People\’s Choice\”. This is also referred to as position bias. The bias in the position shows that people who are faced with a variety of options, are the most likely to believe that the best offers are located situated in the middle. Marketing teams can profit from this tendency by providing an option that is centered, such as \”Most Popular,\” for instance.
Enabling and guiding customers to take the right choice
You might be aware that there are similar options for similar products at a moderate price. This can help your customer have more control over the purchasing process.
This is the way to empower your customers. By permitting them to make their own decision between products that are slightly different, they are more in control of the purchase and experience the most enjoyable buying experience.
Strategies for the decision phase the page of the product
An organized shopping website will provide a vast selection of merchandise. There are a variety of cognitive biases that successful websites employ to ensure that you feel confident when you make a buy. Let\’s take a look at few of them.
Strategies of website design for Desire stage
Doubt avoidance: The cognitive bias to avoid doubts suggests that consumers are more likely to erase doubts about a decision that isn\’t solid through making quick, uninformed decisions. A simple prominent text that appears located in the upper right hand corner claims \’More than 98% accuracy\’. This tiny icon is highly effective since it could nudge your client to feel confident in making the purchase. Indicating the fact that your product is environmentally friendly or has been tested by third parties such as this, for instance, could aid in removing doubts from customers.
Confirmation Bias: It\’s true that we\’re enticed to believe what we\’d like to believe. Marketing professionals, it\’s easy to fall in line into the crowd\’s preconceived notions rather than trying to modify them. And this is the very basis of the concept of the confirmation bias technique in marketing. It\’s a profound psychological trait that we all have. However, we must remember that we\’re just as susceptible to our target clients , particularly in relation to conversion optimization and data.
Aversion to loss and scarcity: If you glance at the lower left-hand corner of this page. You\’ll notice an indication that there are less than five of these specific phones available. This is the heuristic of scarcity to be used should you be hesitant to purchase the device This strategy could be a great incentive.
Loss Aversion: Also, the mental bias against loss is present too. People are more resistant to the pain of missing out on something, than they are happy to get something. Also, the savings of $10 is more valuable than the $10 you\’ve found. This implies that loss aversion and scarcity strategies can cause buyers to make a purchase choice, instead of losing out on a perceived good or popular bargain.
Making a decision can be a challenge even at times especially when there are a lot of options readily available. Offering too many choices for potential customers can cause stress and could lead customers to leave your brand completely. You must reduce the choices available or apply the nudge principles to create options that are well thought-out.
For e.g. If you offer a coaching subscription service, we suggest that you provide between three and five options for purchase. With only a handful of options that are available, prospective clients don\’t be able to go through hours of deliberation about which option to pick. However they\’ll feel like they\’ve wasted time to review the options but will have the confidence to pick the option that is best for their needs. Be sure to explain the advantages of each choice clearly and don\’t hesitate to offer suggestions to help customers make an informed decision.
Once you\’ve decided to purchase the item then you click on \’add item to cart\’. But you\’re not instantly directed to the shopping cart, instead, you\’re presented with a variety of alternatives, similar to yours.
Instead of bombarding you with irrelevant advertisements or trying to convince you to spend more Try to provide specific beneficial products and services that directly relate to your purchases. It is worth rethinking the cognitive bias to avoid doubt to eliminate any doubts about the buyer\’s choice to build confidence.
Shopping carts are the place where the most leaks in conversion occur. Apart from using cart avoidance strategies as well, you can also employ strategies that are based on sunk Cost Bias. A powerful strategy to use is to include an indicator of progress on your multi-step forms and checkouts online. The fact that you can show users that they\’re at the halfway point of your checkout page will make it hard to abandon the process after having invested the time to get this far. If they decide to quit it\’s a waste of time and effort for nothing.
The shopping cart
The process of checkout fast and simple as you can is crucial to making sure you purchase. The final steps are intended to erase any doubt and move you until the final click. Instead of presenting you with a lengthy and perhaps confusing form, this method is well-organized and will help you through the checkout procedure.
It\’s easy to travel
When they are properly employed, cognitive biases they will assist your marketing team guide your site\’s customers to make a purchase with a smooth-feeling process. They can help ease your customers\’ doubts during their buying journey. There are many excellent software tools available that can assist you and your staff. Making use of these marketing psychological innovations could ultimately increase sales and create happy loyal customers.
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