Project Management

The following five neuromarketing principles, when put into practice, will boost your marketing and advertising campaigns.
The following five neuromarketing principles, when put into practice, will boost your marketing and advertising campaigns.

1. Familiarity, User Experience, and Content
“Most neuroscientists would agree that well over 90% of our behavior is generated outside of consciousness. We are more slaves to our biology than we realize. Our rational minds represent a very small layer floating atop a vast well of unconscious drivers. Business leaders who understand biological programming and can leverage it possess an enormous advantage,” explains neuroscience business expert Janet Crawford in an interview.
www.forbes.com

2. Reciprocity
People often feel obligated to pay back favors and debts, no matter how little, both because of societal norms and innate behavior. This phenomenon is termed reciprocity.

When somebody does something good for another, that other person often feels a desire to repay.

Applying this principle is simple: Give something of value to your customers without any stated expectation of getting something back.

3. The Scarcity Principle
It is typical of people to desire something they can’t have. Similarly, when a product or service is in short supply, potential buyers feel a sense of urgency to buy it before it becomes unavailable. This principle works both when there’s a supply scarcity and when a deadline limits access.

Research by Ratner and Zhu has found that when consumers have the impression that products are scarce, they discard their decision-making choices and gather more quantities of their favored product. However, when the consumer thinks that there’s a surplus of each product, the consumer branches out, getting both a number of the favored product and a varied collection of other available products.

4. From Flattery to Liking
There’s one thing that can regularly make the difference between a successful sale and a failed one: the liking effect. In short, people are more apt to say yes to a person (or to a product/service) if they like that person or offering.

One approach is flattery—using pleasing compliments—to persuade people to buy a product or service.

Flattery has been proven very effective in marketing. Elaine Chan and Jaideep Sengupta, professors of marketing at the Hong Kong University of Science and Technology, have found that even insincere flattery works in marketing.

5. ‘Anchoring’ for Boosting Conversion
Anchoring happens when people use an initial piece of information as the basis for making subsequent judgments. For your customer, the anchor is the point of reference against which all other products, offers, or prices are compared. Once the anchor is set, there is usually a bias toward that value.

An example of anchoring and adjustment as a sales technique would be if a used-car salesman (or any salesman) were to quote a very high price to start negotiations. Because the high price is the anchor, the final price will tend to be higher than if the car salesman had offered a fair or low price to start. There are many examples of the anchoring principle at work.

Businesses can make use of the anchoring effect in marketing to take advantage of this quirk in the human mind that has people making judgments based not on fundamental value but on impressions prejudiced by initial reference points—anchors.

Why Reputation Marketing Matters 
In today’s multichannel world, consumers actively seek information from all types of sources to guide their purchase decisions.

Better reviews and a positive brand reputation work strategically to help improve your influence, trustworthiness, and flexibility. At the end more sales.

Online reputation management statistics for 2022

• 85% of consumers trust online reviews as much as personal recommendations.
• Nearly 3 out of 4 consumers trust a company more if it has positive reviews.
• 60% of consumers say that negative reviews made them not want to use a business.
• 49% of consumers need at least a four-star rating before using a business.
• Consumers read an average of 7 reviews before trusting a business.
• 97% of consumers search online for local businesses. 12% of consumers do so on a daily basis.
• Every additional one-star Yelp rating causes an increase in the business’s revenue as high as 9%.
• Reviews that only gave 1 or 2 stars failed to convert 86% of prospective customers.
• Americans report telling more people about poor service (15 people on average) than about good experiences (11).
  
  

Corporate social responsibility statistics

• 92% of consumers have a more positive image of companies that support social issues and environmental efforts
• 63% of the public would give socially responsible businesses the benefit of the doubt during a crisis
• 87% will purchase a product because a company advocated for an issue they cared about
• 66% of consumers are willing to pay extra to patronize companies that are committed to CSR
• 2X increase in trust when a company’s reputation score goes from average to excellent
  
  

By blog.reputationx.com

General reputation marketing advice

• Key takeaway: Always be proactive! Practice offense, not defense
• Key takeaway: Not being on social media means missing opportunities. Period.
• Key takeaway: Creating positive emotions & sentiments helps foster a positive reputation!
• Key takeaway: Fix the problems that prompted the bad reviews at their sources.
• Key takeaway: Be nice. Responding with negativity to something that’s already negative is a terrible idea and can easily backfire.
  
  

Reputation marketing takes time and research to get good at, but hopefully the experts quoted above have helped you understand some of the keys to doing it well. To recap, here are all of our key takeaways:

By thriveagency.com

PPC ads increase your visibility in a fast and effective way, and when used skillfully, can lead to much higher conversion rates.
Other benefits include building brand awareness, having clear, measurable targets, and being able to tailor your target audience for each ad. In this guide, we’ll take you through everything you need to know about using PPC for search engines, including AdWords. We will also go into detail about ads for Facebook, Instagram, Twitter, and LinkedIn, then take a look at some statistics on click-through rates, and off er some guidance on common mistakes to avoid.