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StitcherIn both subtle and not-so-subtle ways, advertising and marketing tactics are being implemented everywhere to try to get us to spend money and buy more. While marketing in and of itself is not bad; we should be aware of the emotional and psychological ways brands are able to influence us to spend on something we may not even need or want. Listen in as we discuss some behind-the-scenes marketing strategies that could help us save money and spend more intentionally.
Just because they are giving you more than what you perceive they're giving, don't let that value keep you paying for something you do not need.
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- Facebook ads. People love saying something IRL and immediately seeing an ad for it on Facebook. It’s the best. The ads want you to know that while they can’t be as accurate anymore they will still track where you are and show you ads based on the interests of the people you’re around.
Check out some relevant episodes
Marketing Psychology: 5 Powerful Principles of Human Behavior
Great marketing doesn’t happen by chance. This article from Crowdspring enumerated a few powerful principles of human behavior you should use to supercharge your marketing.
What Jen + Jill have to say:
To Jill, some marketing doesn’t give a great impression of humans. The success of marketing lies in understanding how people behave and why they behave in certain ways. Jill explained priming which is the way of getting people ready for the main message, building a relationship, getting the ‘foot in the door’. Jill recommends engaging only in the priming if the product or service is something you need. Jill further expounded the concept of social proof that marketing utilizes which makes us want to know what others are watching, buying, wearing, and experiencing that ultimately influences our decisions to do the same. Another idea is anchoring where people tend to unconsciously latch onto the first fact they hear, basing their decision-making on that fact… whether it’s accurate or not.
Jen also explored reciprocity or your desire to give back in some ways when you get something for free. You have to decide on the products that add value to your life. Lastly, Jen talked about the principle scarcity marketing which preys on impulsivity and thrives on a members-only attitude.
The 5 Emotions That Drive Customer Loyalty
Ever wondered what makes clients and customers stick around? Entrepreneur listed down five emotions that are critical for building and maintaining loyalty.
What Jen + Jill have to say:
To Jill, familiarity and gratitude are two emotions that are important for loyalty from a marketing perspective.
Meanwhile, Jen talked about surprise, relief, and belonging.
How Jen and Jill Have Been Positively and Negatively Affected by Marketing
The first things that come to Jill’s mind are the things that come to her in the mail such as marketing for credit card offers and insurance which she finds helpful. She tends to be a fall victim to marketing when there is gratitude and reciprocity at play.
As per Jen, she loves how intuitive Facebook and Instagram ads used to be. She is most likely to get disappointed by a product if she hasn’t already developed some kind of brand loyalty to them before purchasing.
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Amazing Relatable Podcast
I love love love this podcast and look forward to every new podcast released. It brings me a sense of relief that I can tackle my financial health and that I am not alone. I have been learning so much through the podcasts and have been binging past episodes!
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Thank you Olivia for sharing your bill about dry cleaning and how paying for dry cleaning helps you spend less on new clothes and helps build contentment!
