Psychology matters in marketing. Way more than most people think…or let’s be honest, use.
And, it doesn’t apply to just content.
Marketers should be tapping into psychology in every single stage of the business from building a team to creating a pricing strategy and selling your product.
Time to hit those dusty old psychology books.
In this growth marketing mix you’ll find:
- Why knowing the ‘why’ behind your digital marketing strategy is the key to success.
- The difference between growth hacking and growth marketing (and why it matters more than you think).
- How to go deep on psychographics and why behavioral analytics can transform your marketing strategy.
Keep reading below to find out more!
Psychology & Persuasion
How your pricing system is set up can have way more of an impact on your customers than you might expect. What you really want to do is to tap into psychology and create a pricing structure that maximizes both conversion and retention. So, rather than hoping your pricing is going to work, test. Try some of these small tweaks that tap into consumer psychology and you might find a dramatic increase in your pricing conversion rates over time.
Behavioral analytics can be a growth marketer’s best friend. Now, the question is are you diving into this with your own company? An easy way to get started with behavioral analytics is to tap into psychographics. Understanding your target customers values, opinions, interests, and lifestyles (among others), can provide a treasure trove of data that can help you market better. All of this data can help you build an improved customer persona that will lead to more growth.
“Words are hard.” Yup, you’ve got that right. And that what makes good copywriters, or a person who can handle copy the right way, so incredibly invaluable. The problem is great copy can’t just come from a playbook or template. Nope, there’s a bit of elbow grease that goes into creating it. One of the best ways to create stellar copy? Using what your customers are already saying. Take advantage of the words your current fans are writing and translate that into your copy as a starting point.
When Google commissioned a two year long study centered around team performance they came away with one huge takeaway: that psychological safety is paramount. What does psychological safety mean? Trust, especially trust that employees can make mistakes without fear of being fired. In this Harvard Business Review article, the author advises modern team leaders on how they can create an atmosphere where employees feel that trust in their roles.
We’ve all heard the term ‘growth hacking’ by now, it’s been a very hot topic in the marketing world the last few years. But what about ‘growth marketing’? In my mind, this is the more effective strategy. After all, if you’re so focused on pushing as many visitors as you can to the top of your funnel but not on activation or conversion, how does that translate into a good business practice? The answer is it doesn’t. Growth marketing focuses on long term growth that is sustainable and repeatable.
In this video from the GrowthHackers Conference, Elena Verna shares her thoughts about how brands can focus on product experience in order improve growth. The first place to focus is on your own brand goals. You need to get your revenue KPIs down first, and then from there, you want to create a product experience around those KPIs. She digs into her own experience with SurveyMonkey as a great case study. There is also a corresponding SlideShare that goes with that talk as well.
There’s a big difference between knowing you should send out emails or create blog posts and why you’re actually doing it. For Neil Patel of Kissmetrics, it’s the ‘why’ that matters. So how can marketers figure out their why? By going deep on goals. What is the actual specific goal of your blog post or your email marketing strategy, it has to go beyond just ‘converting more customers.’ When you’ve got this figured out, then you can create an actionable and measurable strategy around it.
Well, there you have it, we’ve covered a primer on growth marketing, a thought piece on product experience usability, and a simple strategy for copywriting success. If you’ve learned something, make sure you share this with someone who could use it.