86. Understanding the Psychology of Consumer Behavior
Why do we buy the things we do? Why is it that some brands speak to our heart deeper than others? Did you know there's a physchology behind the things we want that help drive buying decisions?
On this episode of The High Performance Marketing podcast I'll help you understand the psychology of consumer behavior and the role it plays in successful marketing strategies. I'll let you in on insights about your brand, and how brand archetypes are a powerful tool for helping you hit to the heart of the core desires of your ideal customer.
Transcript
Why do you buy the things you do? Why and when and from who? I want you to take a moment and think about the last purchase you made. And not because it was something you needed like gas or groceries, but something you spend discretionary income on - or even non-discretionary income on - something you possibly put on a credit card. Why did you buy that thing? What emotions did the item or brand make you feel to drive the decision.
On today’s episode of the podcast I’ll take you down the journey of a topic that serves as the cornerstone of successful marketing strategies – the captivating world of the psychology of consumer behavior.
Let me give you a personal example thi very thing by sharing an experience of this exact behavior in my own life. It’s an experience I haven’t forgotten in the years since it happened.
About 2 or three years ago I was attending a marketing summit.
The event was held at the 21c Museum Hotel in Nashville. The venue was kinda cool and had a small museum inside of it. I stopped in one day during the breaks to look around and came across a pair of red glasses. But not just any pair of red glasses. There was something very bold and different about the design of these glasses.
My hope and prayer was that they would cost somewhere in the range of $75-$95 dollars. Ha, yeah right. Of course I leaned in and the price of the frames was $300.00.
As someone who didn’t need glasses at the time, this was a very steep price for frames I’d use for fashion only. So I talked myself out of what I deemed such a ridiculous purchase. But for the next two days I’d walk by the museum store and I couldn’t stop thinking about these glasses.
So you know these frames were made by Francis Klein. And if you’re like me and had never heard of Francis Klein, he’s a snazzy French designer, which means the glasses were also made in France. Creating something unique.
But, why were these glasses invading my dreams? After a few days I just couldn’t take it anymore and I forked over the $300 for the frames.
Alright, so why would I, a very vanilla, conservative, pastel color loving kinda person fork over $300 for glasses she didn’t need?
I’ll tell you why.
As a writer, I’m also a reader. I love learning, I love knowledge and there was something very deep within me that felt that wearing these glasses would make me everything I want to be. Bold, declarative, assuming!!! And for a reader, writer, scholar type, nothing screams you are a knowledge geek more than a bold pair of glasses. These glasses would never go unnoticed as just any pair of glasses. When wearing them, they would tell the world I was a woman who valued knowledge dog gone it!
And there you have it. The psychology of human behavior. Hitting to the core of human desires. And this is where I want to help you understand brand archetypes and how understanding what they are can help drive sometimes even the most irrational purchases. Not because I want you to sell things to people that they don’t need, but rather, to sell them the things they already want, but are looking for permission to buy.
Because ultimately, when we talk about consumer behavior, we're essentially taking a deep dive into the psychology behind buying decisions.
- Why do people choose one product or service over another?
- What influences their choices, and how can you, as a small business owner, leverage this knowledge?
Well did you know that your brand has a personality style and structure to it? Just like humans have personality styles, so do brands. And understanding your brand archetype is powerful for connecting it to the core human desires of your target audience. You might remember that in the Story brand 7 part framework that I’ve shared with you before, every great story starts with a character who wants something. But something is getting in the way of their getting it. In business marketing our customers are the character in the story and when we agitate the desires of our customers they enter into the story our brand is telling.
Think about why you would buy a Harley Motorcycle or a North Face coat? A Harley wakes up the inner rebel, the breaker of the status quo. The north face appeals to people who don’t want limits, they want to explore the world and keep their options open. They’re saying “hey don’t fence me in ok.” Brand archetypes appeal to core human emotions within each of us.
The brand archetype is a framework that builds emotive brands. Brands that wake people up and get them to feel things. Basically while all brands are businesses that we have a transactional relationship with (we give them our money in exchange for something), for some brands, we feel connection, loyalty and in some cases love.
And the most loved brands connect with their audience on a deeper level capturing your heart. It’s why we love some brands more than others. And because humans are all different, so are our desires. Your core desire might be innovation, while mine might be freedom and mastery. Which is why some brands appeal to us more than others. And ultimately why we give our hard earned dollars to those brands.
As a business owner, you’re navigating the dynamic landscape of commerce, and understanding what makes your customers buy isn’t just a beneficial nice to have. Archetypes provide a missing link between customer motivation and sales.
When you understand the subtle intricacies and powerful drivers that influence the choices your customers make, you are better equipped to connect with your audience on a deeper level. To learn more about brand archetypes, I’d highly recommend you read The Hero and The Outlaw by Margaret Mark and Carol S. Pearson. Such a great book! As a marketer, it’s been a game change in how I view companies and brands.
Next, consumer psychology examines your potential customers' perceptions, beliefs, feelings and thoughts and considers all of them when examining purchasing behavior.
Which is why I want to think through the concept of emotional triggers. Have you ever wondered why medical researchers set up control groups to guard against the placebo effect?
Because a person's condition can improve simply because a patient believes in the pill or the doctor. Researchers therefore need to ensure that it’s actually the drug they’re testing that’s really causing the cure.
In business, our service can have a positive effect on our clients. For example, people buy home alarm systems every day because once they do, they believe their home is now a fortress. Impenetrable from danger. As an entrepreneur or small business owner, how does your product or service use marketing the same way as using the placebo effect?
And again, I’m not saying sell something that doesn’t exist or truly impact your clients lives. I’d never recommend duplicity or manipulation. But rather that you can leverage the power of belief not only to sell your services, but to help people and to command brand loyalty. When people believe my copywriting and marketing services can help them increase revenue they are more likely to work with me. Is that deceitful? Not at all. I’ve got proven data from past clients who have implemented email marketing and landed deals they might not have done so otherwise. Or who’ve had me rewrite their website and turn it into a lead generation machine.
For consumers, the most important role of emotion is that it pushes them to take action.
Ok, by now you’re starting to understand that emotions play a significant role in purchasing decisions. And at this point you might be wondering, “ok great Ali, but how do I figure out what those emotions are exactly?” Well put yourself in the shoes of your ideal client.
What upsets them, what inspires them, what makes them go “ooooo, I gotta have that, I need that?” Who do your clients become on the other side of paying for your services? For me and the red Francis Klein glasses, I went from quiet and tame to bold and declarative! The glasses appealed to my desire for freedom, to break free from boring. Once you understand their feelings your marketing message can evoke emotions that resonate with your target audience.
Think about Apple, just to start their logo alone leans into the first rebellious act in the Garden of Eden. Apple's marketing message isn’t “hey our computers have 120 gigs of ram. They say “we make computers for the dreamers, those willing to be different!” They inspire and evoke desire in creators and innovators, disruptors who aren’t ok with the status quo.
Another critical component of consumer behavior is trust. As I’ve shared with you before, I attended an event where Davis Smith the CEO of Cotopaxi presented on their missions and purpose in the marketplace and that I’ve never forgotten his statement about the fact that every business transaction begins with trust.
You’ve also heard it said that people want to do business with those they know, like and trust. So customers are more likely to pay for your services when they trust you. So offering transparency, authenticity, and reliability are key elements here.
How do you increase trust with consumers? Share your brand story, showcase customer testimonials, and let your audience see the human side of your business. This not only builds trust but also strengthens the emotional connection between your brand and your customers.
And speaking of authenticity, don't forget the power of social proof. Positive reviews, ratings, and user-generated content can significantly influence potential customers. So encourage satisfied customers to share their experiences and testimonials, both online and offline.
Next, let’s dive into advertising. If you’re investing your hard earned marketing dollars on advertising, make sure your advertising meeting the needs and desires of your audience.
It’s no surprise that advertising is an effective marketing tool that influences consumer behavior by attracting attention, shaping perceptions, and influencing purchase decisions. Some of the best kind of advertisement is called interactive advertisements.
This style of advertising is a type of advertising that encourages consumers to engage and interact with an ad.
It becomes a two-way conversation between marketers and their audiences.
One popular example was done by Volkswagen. The German car company has always been known for creativity in advertising, even from its earliest days.
So, it shouldn’t come as a big surprise that they’d be a brand to really embrace this kind of advertising. I want to explain it with a real life example so you understand how you can leverage it too.
Basically Volkswagen created an ad, inside a conventional magazine, and asked readers to download an app and take their phone for a test drive along a ‘road’ fold out in in the magazine. It was a pretty cool concept actually.
Another example was done by Verizon Wireless. You well know that the Star Wars movie franchise is one of the most popular in the world. So, it was a savvy move by Verizon to partner with the Star Wars franchise to create a truly interactive Twitter (or X) campaign.
Using the hashtags #TheForceAwakens and #TheoryWars, users were encouraged to submit their own theory in order to get a chance to win tickets to their newest movie. One example was when a user submitted a theory that Hans Solo had been a Jedi the whole time and didn’t know it. Now why I share this, again is because sometimes you’re putting money into advertising that is stagnant, you talking to your audience. Interactive advertising allows you to have an impact on the feelings of your customers.
When you understand consumer psychology you can design effective advertising campaigns that shape consumer perceptions, attitudes, and purchase decisions through a variety of human senses. So if you’re spending money on ads that aren’t sticking, you might want to rethink your strategy using some of the things I just shared with you.
Finally, let's touch on brand consistency. Your business and brand are more than just a logo – it's the entire experience you provide. Consistency in messaging, visuals, and tone across all your marketing channels helps build a recognizable and trustworthy brand. Marketing is an exercise in memorization to consistency breeds familiarity, and familiarity builds trust (which we’ve already mentioned is needed if we hope to influence consumer behavior.
See, the human brain loves patterns and familiar things. By consistently showcasing your brand in a way that connects with your values and appeals to your intended audience, you're creating a positive and lasting impression.
Alright, well there you have it, now that I’ve given you a glimpse into the fascinating world of consumer psychology, you are better equipped to understand the drivers behind purchasing decisions.
Three key takeaways from today’s show is to
First understand the core human desire that your business and brand inspire or increase in the heart of your ideal client. If you’re a business coach your services might inspire mastery! If you’re a graphic designer your services might inspire magic. If I can just believe in beautiful design then your design reassures me that it’s possible for my business to grow and become a global brand.
Second, know why people buy your products or services. Ask your past clients what problems your services solve for them so that you can write advertising, emails, or social media content that evokes the emotions of the before and after state.
And third, don’t waste your hard earned dollars on weak advertising. Create interactive advertising or campaigns that dig deep into the core human desires I mentioned through the brand archetype process.
Alright then, I'm cheering you on this week.