Understanding Buyer Psychology

When starting a new business one of the biggest hurdles to overcome is marketing. Figuring out how to get consumers to buy your product or service can be a daunting task to say the least. The first obstacle to overcome is understanding consumer psychology. There are 4 important numbers all entrepreneurs need to know: (1) 5,000, (2) 350, (3) 7 and (4) 8.

On any given day consumers are exposed to over 5,000 images and brands. This number may seem inflated, but here is how that happens. Every time you see a label, in essence that is advertisement. In the morning when you open your pantry or refrigerator to grab a bite to eat, how many food labels do you see? When driving down the street how many billboards do you pass up? While listening to the radio on the drive to work, or watching a few hours of TV how many ads do you see or listen to? Even when scrolling down your time line on social media, or watching a you-tube video, there are ads everywhere? It adds up even though you don’t realize it.

On average as it relates to actual ads (commercial’s, social media ads, etc.) we see on average about 350 per day. Of these ads consumers can only recall about 12 of these on a daily basis. So with all these ads, how many interactions between the brand and the consumer actually translates to a transaction. On average it takes about 7 times, some experts will say up to 20. Why does it take so many times? Great question…. Research now shows that the adult attention span has decreased over the years. It now stands at 8 seconds. 8 seconds is all you have to get someone’s attention. When designing a marketing campaign it is important to keep these numbers in mind. Here are a few quick tips that I have learned that I hope will help you as well.

1. Don’t be afraid to diversify- Use more than one type of ad. This keeps your audience engaged and prevents ad burn out. You can use Posters, videos etc.

2. Don’t feel like you have to do all the work. Every product has a “brand” and an audience. Don’t be afraid to use Memes’, motivational quotes that support your brand, and appeal to your audience. Remember people don’t buy what they need, they buy what they are connected to.

3. Make sure you use advertising that drives traffic to your website. Utilize social media as much as possible.

Although marketing has surely changed over the years, it’s still a necessity in today’s business world. Once you know what hurdles to overcome, you will be better equipped to have a successful ad campaign. Don’t just win, Reign…..