3 Psychological Biases That Affect Whether Someone Buys Your Product or Not Lean into these psychological tendencies in your marketing efforts.
By Scot Chrisman Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
Marketing is not advertising. It's not posting on social media or writing emails, and it surely isn't spamming people's inboxes on LinkedIn for days on end. Marketing involves many of these assets but it's not a single act that makes marketing what it is. Marketing is a long-term strategy to win the affection and trust of your customers.
It's important to understand that every customer that goes through your business undergoes a process or journey that leads them towards or away from your business. Whether they move towards or away from your business is dependant on each touchpoint throughout the entirety of the marketing plan.
In this process, the consumer has psychological biases that are primed and ready for activation. Every human on this planet is having a human experience, one that reflects the suffering and struggle of humankind. We, psychologically, are on the quest for comfort. We have been since we discovered fire and tools, and their power to provide more comfort.
Now after the countless millennium of combined man-hours, we have a societal and digital infrastructure that allows me to reach you, wherever you are today. Technologically we are constantly pursuing better, stronger, faster, smaller, lighter, more nimble in order to make us more comfortable and safe.
Today we've eliminated many of the factors and variables that used to limit lifespan and we continue to become better. Many consumers are now consciously concerned with becoming better, healthier, or whatever positive version of growth we are pursuing instead of the negative, avoiding pain.
Unconsciously our brains haven't caught up. Evolutionarily, we're still operating with a brain that is meant to keep us alive in times of danger. Because of that, psychologically, we are primed to move away from discomfort towards comfort and we're wired to look for the community for signals that the "water is safe" for the consumer to look into your products and services.
Use these 3 psychological biases to create a marketing strategy that not only captures attention and activates the brain chemicals your consumer craves, but also creates conversions by utilizing psychological biases built into our biological nature.
1. Confirmation bias
Consumers love to feel right. They love to feel as though, they knew what was coming next. Like they're ahead of the curve because they picked up on subtle clues. Confirmation bias is an important factor in crafting copy, content, and creative marketing strategies.
Related: The 5 Steps to Selecting the Best Advertising Agency for Your Business
When the consumer feels as though your content confirms the suspicions they already have, they'll easily align with you as a team member… Incredibly there is a brain chemistry element in all of this is, a neurotransmitter called oxytocin. We are community beings and we're meant to have human connections.
When we know we have others on our side, not only do we think we're more protected(even if it's an intangible entity like a business), but we also feel a release of the love drug, oxytocin. We're instantaneously connected and crave more.
Do market research and understand your customer like the back of your hand. Craft content that confirms their biases and watch your conversions skyrocket.
2. Bandwagon effect
Since we all want to feel a part of the community, there are many things psychologically that we'll do to test the waters and ensure we're not going to do something against social norms. This is built into our psychological evolution in order to keep us safe, kind of like most of our psychological biases.
Another way to utilize the need for community and connection is with the bandwagon effect, also called social proof. When we see that other people have taken a risk to try a product, we feel much more confident in the idea that the product could work, that we're not alone in trying it, and that if we make a mistake by utilizing it, we're not going to be the only one that suffers the consequences.
Related: How Gen Z Is Transforming Digital Marketing
According to BrightLocal 82% of people read reviews for local businesses. Utilize social proof and testimonials to convince your prospects and potential customers that the water is warm and nothing's going to bite. Show them your product works and others are enjoying it and seeing results.
3. Zero-risk bias
When your business has momentum, it's important to keep it. Your product or service works. You know this without the shadow of a doubt. That's why you sell it. Since psychologically we're always moving away from fear and uncertainty. Since we want to limit our discomfort and risk, businesses can leverage this with the zero-risk bias.
Create a money-back guarantee, a results guarantee or another type of guarantee that shows your confidence. The consumer will mirror your confidence and this will immediately buy their trust. This is one of the easiest ways to use psychological biases to eliminate risk and increase conversions.
Try putting one of these guarantees on your website and watch conversions skyrocket. As long as your product works and solves the problem you claim your in for a pleasant surprise.
Related: How to identify the types and characteristics of influencers that exist in the market
Marketing is about the logical process of decision making that it takes to make a sale. People want to trust your business and know that your product or service can help change their life. Utilize psychological biases show them how effective your business is at solving problems.
