Arguably the greatest rapper of all time, Notorious B.I.G., transcends culture. From the block to the yacht, transforming his life from negative to positive, his rags-to riches story personifies the American dream. But, what lessons could a rap icon teach us about the psychology of marketing? Turns out, a whole lot.Creating great marketing requires accessing an inherent capacity for influence by tapping into something bigger, deeper, and more meaningful.
By altering an attitude, not just an action, marketers can effectively influence a purchase decision. It’s a subtle, but paramount, difference between telling someone what to do and them deciding on their own. Neuroscience research has determined that we are more influenced by negativity. This can make for a powerful advertising component: tapping into certain psychological triggers can elicit certain buying behaviors, assisting customer to achieve their goals, all while benefiting from an optimized conversion rate.
Here are five ways to emulate Notorious B.I.G.’s unparalleled adroitness and influence in your marketing strategy, going from a ‘negative to positive.’and if you don’t know, now you know.
..Simplified complexityThe rising volume of marketing messages is overwhelming. This can cause buyers to be confused, or even paralyze the decision-making process. A Harvard Business Review study found brands with a simple purchase-decision journey, resulted in being 86% increase in purchases, 9% increase in repurchases and 115% more recommendations to others.When you give too much information, it’s often perceived as you don’t understand your prospects needs.
Rather than drown your prospect’s in noise, deliver value that’s personalized and congruent with their needs.Live chat conveys simplicity by showing website visitors real people are ready to provide solutions straightaway. This also insinuates help is available if anything goes wrong post-purchase, enabling your customers to feel confident taking action. Additionally, prompt customer service sequentially increases sales; 53% of people are more likely to shop with a business they can message. Customer Chat through Facebook Messenger is a seamless way to integrate into your digital strategy, with the added bonus of being able to continue to market to them after the conversation has ended. By keep the communication tools together, you’ll make managing live chat easier for your team, as well as by allowing bots to help automate some live chat requests. LOSS AVERSIONAvoid loss is more powerful than the gain that can be achieved.
A study of Italy’s point system for driver’s licenses demonstrates the clout of loss aversion. The demerit points system was followed by an increase in observed seat belt use of 51.8%, 18% reduction in fatalities and a 19% reduction in injuries. All because of losing points as opposed to gaining them.
In your marketing strategy, depict what happens in the event your product or solution is not chosen in lieu of a cheaper option, and the cost and impact of not making a decision. Free trial offers also tap into loss aversion. Customers feel like they have ownership of it during the trial period, when it’s up, not having it anymore feels like a loss. Sirius XM does this by providing a free 3-month subscriptions with new vehicle purchases, leading to a 40% conversion rate.
Admit to mistakesWhen the inevitable delay, missed the deadline or mistake, does happen, how you handle it makes a big impact. A sincere apology goes a long way, twice as far as offering cash. It’s also been found that by accepting responsibility, as opposed to blaming outside entities, conveys you have greater control over your own resources and future. Keep clients in the know about what’s happening, before they find out on their own. Respond timely, give status updates, help people understand the true financial impact of decisions, prepare your team to answer tough questions should they arise.Although you may be working on their requests, the customer perceives it as they are not a priority to you. It’s akin to if Notorious B.
I.G. didn’t start rapping as a teenager to entertain people in his neighborhood, no one would have recognized his immense talent.Leverage Exclusivity / Fear of Missing Out / FOMO // ILLUMINATIPeople are increasingly likely to complete an action without giving it much thought when they feel they may be missing out on something valuable if they don’t react quickly. In fact, 68% of the highly coveted millennial demographic have made a reactionary purchase due to FOMO, often within 24 hours of seeing and coveting someone else’s experience.
The lottery is a prime example of this fear of missing out, or FOMO. Once the jackpot is over $500 million dollars, you start to consider buying a ticket. The odds of winning are minuscule, but the fear of missing out on becoming a multi-millionaire is real.This can be implemented in your marketing strategy several ways, including: Exclusivity: If everyone gets something, it’s not as special. This can be seen in exclusive previews, invitation only events, backstage passes, rewards programs, or beta testing new programs.
Urgency: You can use visuals like an interactive countdown timer or send a series of reminders as you reach the end of a sale or discount, also introductory rates, flash sales and grand opening events.Scarcity: By telling someone they can’t have something or there’s a limited supply, it often makes them want it more – think the whole “playing hard to get” in our dating lives. In marketing this can be utilized thru limited edition art prints, set number of tickets available, ecommerce sites using prompts such as, “only 5 left.
“Turning waiting into delayed gratificationWaiting is synonymous with being delayed, while anticipating has a positive connotation and suggests hope; you anticipate something that is pleasant, or useful and ‘look forward’ to it. When we expect good things to happen, dopamine stimulation happens, which stimulates arousal and causes excitement. This means, despite our desire to have instant gratification, we derive more value from anticipation. Mounting anticipation brings out the competitive nature in people.
The longer they wait, the more they fear missing out and grow increasingly likely to invest greater amounts of money to acquire their desires. Let people know what’s coming, offer hints, and teasers about what is to come, and why they should be excited about it. The caveat of anticipation being, wait too long to unveil and you risk your audience has already lost interest.
If you launch later than promised, the anticipation will turn into frustration and you won’t get the benefits of building it up.