American Business Brokers & Advisors - June 2019

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Using Psychology to Gain New Customers 3 IMPORTANT PSYCHOLOGICAL TRIGGERS

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While marketing to potential customers can be costly, it is still a necessary element of growing your business. So what’s the best way to get them through your door? There are thousands of ways to attract new business, all generating various degrees of success. The key to maximizing that success is understanding your audience’s psychological triggers. Every audience has a number of these triggers, and these are three that you can look out for in your customer base. Gaining Pleasure and Avoiding Pain Human behavior can be interpreted as one long practice in gaining pleasure and avoiding pain. Even though people constantly do activities, like running marathons or public speaking, that have obviously painful qualities, it might be because they value the pleasure of physical accomplishment or leadership more than the pain. Do you know what your target audience finds pleasurable or comfortable? Which of your products or services are most associated with those qualities? Novelty Our brains love new things. Studies have shown that new and unfamiliar things and experiences increase dopamine production in our brains. One way marketers have leveraged this phenomenon is by constantly re-releasing or rebranding existing products. Sure, there are new aspects of the latest smartphone or the latest car that improve the product, but by and large the reason for the constant outflow of new products is because humans crave novelty. How could you update or change your product or service, even minimally, to take advantage of this? Storytelling Stories make people feel like they are transported somewhere besides their current reality. This experience triggers the emotional subconscious, which holds more sway over our choices as consumers than most people realize. If you associate your products or brands with a story, you can set yourself apart from your competitors and draw new customers through your door.

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