Timestamps:

00:00 – Introduction

00:35 – What is consumer psychology? It studies the psychology of the people buying and selling products. It played a large part in the growth of marketing over the years. Things like SEO and user-generated marketing are a part of this. Analytics play a huge role in this, which allows businesses to build a psychological profile of consumers.

02:48 – Three main areas of consumer psychology: persuasion architecture, scarcity loss aversion, and emotion-driven behavior. Buying choices are more influenced by emotion than intellect.

04:25 – Persuasion architecture. It is all about fully understanding consumer wants and needs and appealing to them. Buyer personas are about constructing narratives that speak to the target audience or potential consumers. Aesthetic and easy-to-use websites are key in this. This should not distract from the brand but help it.

07:17 – Scarcity loss aversion is related to avoiding all kinds of losses. Free trials and free samples are good tactics to help with this. It allows consumers to form a bond with the company. Reciprocity is another good tactic to help with this. Social proof is another tactic, related to showing consumers’ testimonies to others.

12:22 – Conclusion and recap

Brief about The Maven Show podcast

In this episode of The Maven Show, the group talks about the psychology of digital marketing. They talk about what consumer psychology is and how it is important for buying and selling products. It plays a huge role in marketing and things like SEO and user-generated marketing are a part of this. They talk about the three main areas of consumer psychology: persuasion architecture, scarcity loss aversion, and emotion-driven behavior.

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