Understanding how consumers think, feel, and act is essential to providing products that appeal to your niche. Psychological effects offer powerful evidence for phenomenons that are natural within your target market and can be used effectively when assessed with your best judgment, and fit into your existing business model.
Imagine having the power to predict how people think, feel, and act. If you built a customer experience around these expected outcomes, your business would instantly become a booming success.
While this superpower is yet to be fully uncovered, the field of psychology has come close. Psychologists who strive to learn more about behaviour and the reasoning behind decision-making, have published a countless number of findings that explain the phenomenons in human decision making.
Applying these findings to your business model will not allow you to perfectly predict your customer’s next move, but having a general understanding of psychology will elevate your business and create a more enjoyable experience for buyers.
To get you started on your dive into the boundless world of Psychology, here are few hacks you can implement in your business immediately.
The IKEA effect
Every one of us at least once have been at IKEA and purchased at least, a piece of furniture there, and went through the process of putting your purchased piece of furniture together. After hours of sitting in uncomfortable positions, losing, then finding the screws, and a few curse words, your brand new table is finally standing upright in all its glory.
Every time you look at this table, you do not just see a new piece of furniture, you feel a sense of pride for playing a key role in creating it. Your increased emotional attachment to a product comes from the “IKEA effect.” Also evident in self-serve yogurt stores, this phenomenon suggests that individuals will enjoy a product more if they play a role in creating it.
Psychology of Colour
Perhaps one of the most unnoticeable tactics used in marketing and branding is colour psychology. Companies use certain colours to induce emotions and physical responses that are so natural, most of the time you don’t even notice.
Red Colour
The colour red is associated with passion, danger, and excitement. You have probably noticed that your eyes instantly flicker towards a red item, this is because your body is responding to a possible threat.
Red is such a powerful colour that simply looking at it speeds up your blood flow, speeds up your metabolism, and actually makes you more hungry.
Think about Coca Cola, whose red logo is instantly associated with the crisp satisfaction of a cold soda. Lego also uses the colour red, because children’s eyes are instantly drawn to their product, and it enhances the sense of adventure and excitement that comes from building legos.
Yellow Colour
The colour yellow, the go-to choice for a smiley face, is the embodiment of happiness. Yellow makes you think of summer, flowers, and positivity and gives you a feeling of pleasure and warm satisfaction. Think of the brand Sun Chips‚ they combine the warm colour of happiness with reference to the sun, making you feel good about your purchase.
Many food companies use red and yellow together because the positive emotions of happiness and excitement are translated onto their food products and become associated with taste.
Blue Colour
The colour blue, which makes you think of endless skies and deep oceans, is known to induce calmness, sleepiness, and a feeling of harmony. This colour is non-disruptive and easy to look at, making it a go-to choice for companies who are helping customers solve stressful problems. Think of ADT — one of the largest companies that specializes in home security system. Their customers are facing a threat, and seeing the colour blue gives them a feeling of calmness and security, giving ADT credibility at a glance.
Reciprocity
We have all fallen victim to the inevitable birthday dance. When someone in your life gifts you an expensive watch, it almost feels expected for you to give them something of equal value on their birthday. The reason you feel this inclination to “return the favour” is due to the reciprocity effect.
The rule of reciprocity is a social norm that makes you feel obligated to return a favour if someone offers you something first. This inclination comes from a deeply rooted desire to help others of your kind, establishing allies to protect your species.
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