7 Psychology Theories That Help You Sell

Apologies for the technical terms that I am about to bombard you with. To make up for that, I am going to be using pictures and layman explanations to show you how awesome these theories are.

Psychology, like it or not, is a big part of our lives. We can fall victim to our own irrational behavior without even knowing that we did. Marketers have used these theories to convince us not only to buy but to think that our purchase decision was right.

As a marketer, you should have knowingly (or not) used these theories a couple of times. I just thought having names to go with them would help you become more aware of their presence, so as to use them better.

1. The Framing Effect

A cup half empty is often interpreted differently from a cup half full. Want to promote yourself as a healthier choice? Remember to say 75% lean and not 25% fat. Framing/Phrasing of words can make a whole lot of difference, be sure to do it right.

2. The Halo Effect

My sister had a good opinion of iphone before its launch because of her prior experience with ipod. A great product can have a halo effect on other products of the same brand. That’s why we see brand extensions around. If you already have a successful product, you can leverage its success by extending the line or venturing into related product categories.

3. Cognitive Dissonance

Studies have shown that people tend to amplify the good qualities of their purchases and the bad qualities of alternatives they didn’t end up choosing. We feel cognitive dissonance when we think that our purchase might not be the best there is. We try to reduce this discomfort by convincing ourselves that our decisions are right, even when they are not.

As marketers, our job is to give them a hand to reduce this dissonance. That’s why we have sales people telling us that the dress looks good on us at the fitting rooms. Besides having an awesome product, warranties, exchange and refund policies, and positive testimonies and reviews can help ease the mind of consumers before and after purchase. A great pre and post purchase experience and marketing messages targeted at this group of people would help a great deal as well.