Increase conversion through 5 psychology principles
Pardot have released a useful whitepaper on 'Using Psychology to Increase Conversions', and this associated Infographic to summarise the key findings of their research.
As the marketing landscape is evolving they remind us that the way buyers think remains constant. Consumers interact with our products / services and this is determined by a 'pattern of behaviours which are derived from a set of psychological principles.' Marketers can embrace within their creative and messaging within their sites and communications.
The report delves into 5 psychological principles, some you may recognise from the key principles of influence of American Pychologist Dr. Robert B. Cialdini. In brief, these are:
- 1. Social Proof: behaviours of others to influence our decisions.
- 2. Loss Aversion: strong motivator is to 'avoid loss'
- 3. Anchoring: individuals use the first piece of information to judge choices.
- 4. Foot-in-the-door: obtaining 'opt-in' to something small then it's hard for consumers to say 'no' later.
- 5. Authority: persuasion by others and peers (people, companies etc) in 'Authority' is powerful
You can download the full report from Pardot's website and read the highlights from the Infographic below along with some actionable takeaways.
Some actionable CRO takeaways based on pyschology
1. Social Proof: Product and / service reviews and align them near your CTAs and considering sharing social proof numbers, if compelling.
2. Loss Aversion: Time limiting offers with limited supply increase 'perceived value'. Frame your 'offer in terms of loss' by promoting value/ benefits and the risk of loss.
3. Anchoring: Change perception of perceived value? consider discounting your offers (show original value and discounted price) and add a bonus to your offer, to create ' extra value'. For example, a message could be to 'download a whitepaper now with new updates'.
4. Foot-in-the-door: facilitate the sharing of content across social media channels. Build relationships slowly and nurture over time. For example, consider to start a drip triggered email campaign with links and then build up with more prominent and larger pieces of content.
5. Authority: All about 'Thoughtleadership' and 'Collaboration'. Be an Expert on trends and provide information in your sector and promote the content at key conversion points. Seek out mutual benefits within your sector / industry-related