3 Intellectual Insecurities You Should Use to Improve Your Conversion Rate
As an online marketer, one of your top priorities is gaining as many leads as possible on a given day. You utilize resources such as SEO, cross-promotional campaigns, meticulously crafted content, industry events, promotional materials and social media.
Yet how much time do these tactics take from your day? Probably a lot. One thing across the board is certainly clear: Leads are useless unless they can be converted into sales. How can you turn wishy-washy leads into profits? The trick is all in the mind!
We have the inside scoop on three intellectual insecurities companies should use to their advantage.
1. Fear of Missing Out (FOMO)
Also known as Caldini's Principle of Scarcity, according to Shopify, this concept focuses on the shopper's psychological need to never miss out on a good thing. This includes limited-time offers, timers and limited-quantity items.
Ever been to a website and it will say things such as "Only 3 Left!" or "Sale ends in 3 days!" ? This is the FOMO principle in action. Why is this effective? It works because humans view scarce or limited-edition items as more valuable than pieces in large quantities.
If you still need proof, there's even been studies on the matter. In 1975, psychologists at the University of Virginia conducted a famous social science experiment on the scarcity principle and the effects of supply and demand. The study took 200 undergraduate women and asked them to look at two cookie jars. One cookie jar was filled to the brim with cookies.
The other cookie jar only had two in it. The scientists asked the participants to tell them which cookie jar seemed more important or desirable. The response was overwhelming - most of the women agreed that the jar with only two cookies seemed more valuable.
By applying this principle to your landing page, leads will turn into easy sales.
2. A Group to Belong to
This principle is commonly referred to as herd mentality and is defined as a group of leaders that a herd chooses to follow.
Researchers have discovered that it takes only five percent of a group population to influence the remaining 95 percent, according to Psych Central. How can this be applied to landing pages?
You can implement this idea by encouraging your leads to follow the examples of others. Reviews or testimonials such as, "I did it and you can too" work wonders in this sense. This psychological trick works because humans have a natural desire to belong to a group, to identify with something familiar.
Make them feel like outsiders and you've lost another lead. Go ahead - let them join the pack!
3. Authority and Curiosity
Ever heard the old saying "If you sound important, you'll be important"? Well, just like your parents growing up, using a certain tone of voice or claiming expertise in a subject on your landing pages can make individuals trust your brand and give your landing page a chance.
How can this be applied to a website? Say you're a jewelry designer and you base your designs on folklore and happened to study the subject matter in college extensively.
By emphasizing your knowledge on your landing page, consumers are more likely to believe the product is authentic. This can be applied to many other kinds of brands or artisanal industries as well. Remember that authenticity and authority create a sense of curiosity in your consumer.
Make them intrigued to know who you are, what your brand does, how it got there and how real your product is. You'll see leads jump to sales in no time.