Psychology has been a vital component of the business world. Selling products is a process that involves people and as a result, a keen understanding of some of the workings of human psyche is valuable. Although human nature is dynamic an ever changing, there are some things that remain the same such as responses to certain psychological stimuli. If you know what buttons to press and which part of their needs to appeal to. This book will give you top five psychological ways to help you sell your product Facebook.
Social media has made it easier to examine human patterns and behaviours. The products and experiences people are drawn to on social media provide critical information behind what motivates people towards certain products and what repels them.
Facebook is one of the most popular social media platforms and millions of users go on it every day as a way of connect with peers but more recently businesses and entrepreneurs have started using it as an extended part of their business. Thousands of entrepreneurs have seen massive success of their sales through Facebook. But how much does mass psychology play a role in this success?
1. Anchoring Bias: Set a High Price Point
One of the ways to use psychology as a means to sell is through creating stark price differences between your bestselling service or product and least selling product services. Next to the bestselling service’s price point, place one service that is below the price point and another that is above the price point.
Make sure that the product you want to sell is mid-priced those you aren’t too concerned about are either extremely cheap or expensive. People are more likely to buy a service or product that is in the mid-range. Use anchoring bias to your advantage by placing comparable items around the one you really want to sell.
2. Exaggerated Discounting (Fear of Missing Out)
Everyone loves a good sale. Most people would be tempted to buy a product on sale regardless of whether they need it or not. As a result, it is a smart psychological tool to use exaggerated sales to boost sales.
Hyperbolic discounting makes you want items now instead of later. Even if it is cheaper to wait. Using this bias for selling on Facebook is easy if your company doesn’t do sales often.
In order to properly execute this tactic, you need to have a solid following on FaceBook with good engagement. Once that has been done you can create flash deals.
There are a number of ways to create flash deals:
• Offer a coupon code that only works for a limited amount of time: This will create pressure and make people feel like they only have a certain amount of time to buy on a good deal.
• Set up a limited-edition product: People are attracted to exclusivity and putting out a limited edition will have people flocking to buy it.
• Offer a bundled deal that you will never offer again.
3. Emotional Connections Drive Facebook Shares
Most posts that go viral on facebook are because of the high-emotional attachment that people have towards said post. If people feel strongly about a post they are more likely to share which could translate into direct sales for you.
Psychologist Robert Plutchik identified the emotions that drive our sharing behaviour. The inner circle denotes the eight emotions to think about when creating content. The most basic emotion that drive most people are joy, trust, fear, surprise, sadness, anticipation, anger, and disgust.
The more extreme your emotional reaction is to your post, the more likely you’ll share it. And the more often you share posts to the right audience, the more likely you’ll see that translate into sales. You can do this by writing in emotive language for your status updates or bog headlines. The emotions that you trigger don’t all have to be positive they can be inflammatory as well depending on the reaction you are trying to get.
Link-based content should also have attractive photos in place. Sometimes, the photos are all you need to prompt a share as people are highly visual on social media.
4. Stories Sell: Creating a Great Story
Storytelling has become one of the more interesting ways to sell products online. However, a good story is bound to appeal to your audience’s emotions and compel them to take action towards your product whether it’s through shares or actually purchasing the product. To understand how to use storytelling effectively, you must know the key components of a great story:
- Protagonist: This is the hero
- Antagonist: These are the roadblocks, often found while building a company
- Conflict: There is an argument or issue between the protagonist and the antagonist
- Resolution: The hero has overcome their battles and is now successful
You need to have an acute understanding of how these components fit into your brand’s story. This will help you create a story that is authentic and unique to you. For example, Apple’s Steve Jobs started out the company in his garage and faced many challenges along the way and the company is now a global powerhouse.
When telling the brand’s story, it’s important to stray away from hard selling and obvious product placement. This will turn off most customers and your story will seem inauthentic. Vivid images and compelling videos will also draw people in.
5. Value Time Over Money
If you focus on selling an experience rather than product you will most likely appeal to more people on social media. People will spend money if they feel that the experience they get from your product is worthy of their time. Unless your company is selling luxury products you are going to have to work hard at making sure you reframe your message.
One way to do this is to avoid mentioning prices. Use the storytelling method to appeal to the emotions first and then let your customers know how your product will enrich their time. Show photos on your business FaceBook page on how the product will be used and you should have curious viewers waiting to engage.