Learn the manipulative tactics used by businesses.
Manipulations work when enticing customers to buy a certain product. However, they are not very good at inspiring brand loyalty. Overall, loyal customers will bring in more profits, as well as reduce marketing costs.
- Lowering the prices of products
Lowering prices is extremely effective in attracting customers. However, the challenge is ensuring you stay profitable. Customers used to paying a low price will be reluctant to pay more for the same product in the future. Plus, your business will likely feel significant pressure to keep dropping prices in a downward spiral.
- Using promotions to make your product/service more attractive
When two products are very similar but one is on promotion - for example, with a free item - customers will tend to opt for it. Other promotions such as rebates tend to be complicated to fill out and can lure some customers to pay full price for a product that they were only interested in because they thought they were getting a lower price.
- Creating ads that inspire emotional responses in customers
There are three key emotional responses that make a customer highly likely to choose a product: fear, hope, and pressure. For example, ads such as “Do you have x product? Your neighbor has!” make consumers fear missing out, “In six short weeks, you can achieve your dream figure!” gives them hope, and “Four out of five dentists recommend x product” peer pressures them into buying that product.
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