The Science of Marketing
Long back, I stumbled upon a video on YouTube by Tanmay Bhat along with Siddharth Warrier , Devaiah Bopanna , and Anshuman Sharma on “Science of Marketing” and was pretty impressed by Siddhart’s take on how brand marketing impacts a human before making a decision on whether to buy a product or not.
Here is an interesting breakdown.
Marketing isn’t just about creating ads and sending them out into the world. The psychology of marketing is all about understanding the way your potential customers think and respond to specific stimuli. In other words, marketing is not just about selling your product; it’s about getting people excited enough about it that they’re willing to part with their money so they can get their hands on it.
What is Marketing Psychology?
This field of psychology explores the mental process of purchasing, including the decision-making process, the types of purchasing behaviors exhibited by individuals in different situations, and the factors influencing those behaviors.
Why Is Marketing Psychology Important?
Understanding how your target audience thinks and feels about certain stimuli is the single best way to ensure that your marketing campaign is a success. At its core, marketing is about connecting with people on an emotional level. If you want to reach as many people as possible, you need to create a marketing campaign that appeals to as many people as possible. That is why you should always keep your target audience in mind when creating marketing materials.
Understanding Your Audience
领英推荐
If you want to create a successful marketing campaign, you first need to understand your target audience. Who is the person that’s most likely to purchase your product? What are their hopes, dreams, and fears? And what are their biggest problems that you could potentially solve with your product?
Let’s take an example here, Consider you own a bakery and you want to increase sales by 25%. You know that there are plenty of people in your town who enjoy sweets. However, you also know that a lot of people in your town are diabetic. Unfortunately, many people can’t enjoy sweets like everyone else. Your target audience isn’t everyone who likes sweets. It’s everyone who likes sweets and doesn’t have diabetes (Cohort-based Analysis). You can create a marketing campaign that speaks directly to those people. This type of marketing campaign is far more likely to be successful than one that tries to appeal to everyone.
Defining your marketing goals
What do you hope your campaign will achieve? Do you want more sales? Do you want more brand awareness? Do you want to increase traffic to your website? If you don’t know what you want your campaign to do, it’s unlikely that it will be successful. Your goals should be SMART: Specific, Measurable, Attainable, Relevant, and Time-bound. For example, you might want to increase brand awareness by 10% in 3 months. You can use these goals as a checklist when creating your marketing campaign to make sure you stay on track.
Defining your product and brand positioning
Before you can start creating your campaign, you need to have a very clear idea of what your product is and what it stands for. You need to know everything there is to know about your product so you can communicate its value to your customers. First, you need to understand the benefits of your product. What does it do for your customers? Why would they want to buy it? Next, you need to understand the problem that your product solves. Your product isn’t going to sell itself, so you need to let people know why they should buy it. If you can do that, you’ll be well on your way to creating a successful marketing campaign.
Understanding your competitors’ strategies
The last thing you should do before creating your campaign is to take a look at the strategies your competitors are using. What ads are they running? What are they highlighting in their marketing materials? Why did they create those specific ads? You don’t need to copy what your competitors are doing. In fact, you shouldn’t. You just need to understand why they’re doing it so you can create something different.
Conclusion
Marketing is more than just creating ads and sending them out into the world hoping they resonate with your audience. In fact, it’s a highly complex process that requires you to understand your target audience on a deeper level than their age, gender, or income bracket. The psychology of marketing is all about understanding the way your potential customers think and respond to specific stimuli. In other words, marketing is not just about selling your product; it’s about getting people excited about it so they’re willing to purchase it.