There are all kinds of ways to leverage marketing psychology for stronger conversions. Psychological principles like scarcity, anticipation, competition, fear of missing out (FOMO) and social proof can immediately motivate consumers to take action.
Here are three top retailers who are currently using marketing psychology to increase redemption/purchases and first-part data acquisition:
1. Lane Bryant: Limited-time discount to increase redemption/purchases
Immediately upon entering Lane Bryant’s homepage visitors are met with brand messages about ongoing campaigns like the one pictured below advertising a buy one get one (BOGO) 60% off sale.
As if the sale wasn’t attractive enough to gain the attention of consumers, Lane Bryant adds an extra cherry on top with an additional message: this sale won't last — in fact, at the time this screenshot was taken, it would be ending within a number of hours.
The deadline prompts a certain sense of urgency in consumers that will encourage them to see the offer. Knowing that the sale won’t be around forever creates scarcity and fear of missing out (FOMO), which makes consumers give more consideration to purchasing an item.
Source: Lane Bryant
2. Express: Gift card to acquire first-party data
Express understands the importance of first-party data. They also understand that winning a shopping spree of sorts at a prime retail destination is a huge deal for its customers. By giving customers multiple chances to win, Express is also providing its customers with many chances to feel the positive effects of anticipation, winning a competition and earning a reward.
Offering valuable incentives such as this one for first-party data helps to build strong customer relationships and increases the chances your target audience will immediately react well to your campaigns in the future.
Source: Express
3. American Eagle: Reviews to boost purchases
What better way to spark urgency in consumers than by showing them the value of your products with positive reviews from other customers?
When visiting American Eagle’s website, consumers can conveniently scroll through items of their choice and read testimonials from past customers without having to exit out of their current screen.
Being able to compare the product against other customer reviews strengthens its value for various reasons:
- According to social proof, humans tend to take on the same opinions and thoughts of others (people they know, influencers they support, hundreds to thousands of customers who left reviews on a product, etc.)
- Customers will have a higher level of trust towards the quality of your business and services.
- Customers will feel urgency around having your products in their possession.
Source: American Eagle
Understanding marketing psychology can help elevate your brand campaigns and drive conversions forward. By using the examples above as a baseline to guide your marketing strategies, you have the opportunity to develop content your consumers won’t be able to pass on and isn’t that the goal?
