Proven Hacks to Increase Marketing ROI

growth-hacking

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Zero the number from Indian origins is the most dreaded number of all times.Increase Your Marketing ROI It is the number every marketer dreads to receive in terms of sales or leads or clicks inspite of significant investments.

The success of any campaign is a reflection of the marketers understanding of the target audience behavior. But why is it not successful in spite of  every aspect of consumer behavior taken care of?

An individual’s behavior is governed by numerous psychological factors which are common traits among human beings. Lets have a look at these psychological factors and work towards success.

1) Authority

Parents, teachers or administrators we human beings are trained since childhood to obey, honor and respect the authority. The trait gets drilled in to our brains that we create a habit of obey and trust his/her opinions or suggestions.  Creating a perception of being leader or authority makes people accept views and create the pathway for future actions.

Use : Invest in branding your enterprise as a market leader in the industry by including customer success stories, case studies or number of clients served. While sharing content across various media include essential author information like name,designation and organization.

Example : eMarketer is the authority on digital marketing, media and commerce, offering insights on internet market research, statistics and objective analysis on internet

2) Reciprocity

The term “Reciprocity” was introduced in the book “Influence: The Psychology of Persuasion” which Dr. Robert Cialdini, the author explains as – “if someone does something for you, you naturally will want to do something for them”. Consider this as simple value exchange between you and the customer where your product or service or content is the value proposition.

Use : Provide a consumer delight for free. It can be a recipe book or sweatshirt or anything under the sun which would bring a smile to your target customer. Delighting your customer would bring them close to creating a deep relationship with your brand.

Example : Inbound marketing software Hubspot provides a free blog which details each and every aspect of digital marketing which is followed by digital marketers globally irrespective of newbies,amateurs to professionals. Besides, the blog is considered as the thought leader of digital marketing industry witnessing a large number of  shares. It provides an immense opportunity for Hubspot to reach out to its target customers.

3) Social Proof

Everyone has come across this situation at least once in their lifetime. After a performance has ended a single clap is heard among the crowd and the finally the whole audience joins in applause. Social proof dictates the “me too” effect which an individuals follow when they find others or someone they adopt a belief or action.

Use : On your product, the numbers provide the social proof for others to follow suite.  Use social sharing buttons on your content that display the number of times it has been shared. Associate your product with large number of professionals or individuals in a particular category.

Example : 
socialproof-example-basecamp   Social Proof Example Elvis Presley     socialproof-example-bufferapp

4) Liking

Cialdini explains “liking” as having a positive association and/or attraction with a product or service or content which impulses an individual to purchase or interact with the brand at a later stage. From tagline to jingle and packaging anything which is considered as cool , awesome or simple attractive shall lead to positive affiliation and future purchase.

Use : Being “likable” should be the base for creating your brand which you can communicate by presenting your value proposition which promises to solve the need of your customers.

Example :

                                                                 Twitter-Wins-the-Super-Bowl-Oreo-Wins-Twitter-with-Ad-Put-Together-in-Minutes

5) Commitment

Commitment – as we know is an individual’s capacity to keep a promise. A customer’s promise from attending an event to signing up for a product is an obligation to your brand which you can capitalize. B

Use : Picturize this : You have just shifted to a new city and suffering from toothache. One a colleague’s reference you visit a dentist who prescribes you medicines. You abide by the prescription, but unfortunately you have not yet recovered. Would you go back to that doctor again?

 You value proposition should be a promise to your customers and you should try and achieve through your operations. Once you have maintained your promise, customers would commit to reach you or buy your product every time.

Example : 

indigo-brand-promise

ibm-brand promise

6) Verbatim Effect

It is a memory bias whereby you remember a “gist” of the message rather than the exact verbatim wording. Consumers may not remember your ad exactly but get a fuzzy idea about the message you are trying to convey.

Use:  With advancement of technology and media clutter audience attention span has decreased. Attractive & informative are two keys to get attention of your audience and create a connect with the brand. Marketing campaigns should simple as well as provide a value for the audience it is targeted.

Example : 

verbtaim effect orion telescopes

 7)Scarcity

Today, essential resources like water and minerals are listed with the word “scarcity” after it. We human beings have a natural impulse to acquire resources which are scarce or deemed to be scare like food and necessities in times of war or natural calamity.  With various branding initiatives , this impulse is extended to products and services as well. Remember : The more valuable a product/opportunity ; the more valuable is the experience.

Use :  Create an exciting offer about your product/service and announce limited availability of the offer. The same tactic can be used if you are conducting an event attended by industry thought leaders.

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2 thoughts on “Proven Hacks to Increase Marketing ROI

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