Evolve in the digital world or disappear?
The number of tech startups around the world is now estimated to be close to 1.35 million. As of January 2024, the global internet penetration rate is a whopping 65,4%. The amount of data produced by the world is expected to exceed 463 exabytes by 2025. The number of internet users is around 5 billion and is increasing exponentially.
Marketing psychology in digital
Tom Fishburne, the famous creator of Marketoonist cartoons, once said: “The best marketing doesn’t feel like marketing.” Today’s consumers are innundated with content. The competition for attention, interest and wallets of audiences can be brutal. As a marketer you need a secret weapon to cut through the clutter. One that reaches deep into the hearts and minds of your customers. Marketing psychology attempts to understand the way that consumers think, feel, reason, and make decisions. The goal of marketing is to convince people, and making a calculated emotional appeal can be just what you need to land a lasting customer. Regardless of what you sell, there is a high likelihood that the marketplace is overcrowded. The purpose of marketing psychology is to gain an edge over the competition. It’s always important to remember that you’re dealing with people. People are emotional. Marketers who understand psychology can use it for their company’s benefit. By capturing analytics of their buying behavior and delivering engaging content that plays along with the mindset of the customer. Here are a few triggers that can help you connect with your consumers on a deeper level and build loyalty over the long term: Trust – One of the most important components in any relationship, trust is the glue which binds people to brands. If you trust an organisation, you are more likely to interact, engage and consume content by the brand. Ultimately, this drives purchase decisions. Examples of this could me customer testimonials, security badges and third-party certifications and displaying these clearly on your site and other digital channels. Give, give, give, then ask – The point here is reciprocation, or the principle of repeatedly giving value to your communities before asking for the sale. One way of doing this is of course through useful content. Giving your readers or customers access to useful, free content, will make them more likely to make a purchase later on when you ask for it. This could be ‘how-to’ tips, insights, data trends etc. So start giving. Authority – Humans naturally gravitate towards figures of authority. In today’s digital world, the number of likes a brand has can help it be perceived as authoritative in its field, as do comments and engagement. Showcasing innovations, reports and ground-breaking research are all powerful triggers that will make consumers see your brand as the authority in its field. Loss-aversion – Perceived scarcity or FOMO (fear of losing out) is one of the oldest marketing tricks in the book. For example, saying offers are available for a “limited time only” encourages sales. Tribalism – People love to associate with those they can identify with i.e. form a tribe with like-minded individuals. Social media has made this much easier. Make it easy for your followers to connect with you, and with each other. Hope you find these tips useful. Happy selling! The Publisher Management Team
