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Sell Anything with the Power of Marketing Psychology | News & Trends

Watch WebHosting GoDaddy Video: Sell Anything with the Power of Marketing Psychology | News & Trends.
Marketing expert Adam Erhart shares a unique (but crucial) marketing strategy that helps small businesses make more sales. Watch more Small Business News & Trends videos: https://bit.ly/biznewsandtrends

0:00 Who is Adam Erhart?
0:19 Understanding consumer psychology
0:43 What is the anchoring effect?
1:19 What is the mere exposure effect?
2:29 What is the paradox of choice?

With many marketing strategies out there, how can small business owners know which ones will work best for them and actually drive sales? Adam Erhart, Marketing Strategist at AdamErhart.com, shares one unique marketing strategy that’s a total game changer when it comes to business success: consumer psychology. By using three key principles of this kind of marketing psychology — anchoring effect, mere exposure and paradox of choice — entrepreneurs can tap into their customers’ minds and shift their offerings to turn prospective buyers into more conversions. Through these surprising digital marketing strategies, small businesses can better understand their consumer behavior and drive more sales than ever before.

References:
Studies show that 90% of all purchasing decisions are made subconsciously. https://www.inc.com/young-entrepreneur-council/4-psychology-tricks-to-boost-e-commerce-sales-and-.html
A study discovered that extra costs such as shipping, taxes, and fees were the leading cause of cart abandonment. https://www.inc.com/maria-haggerty/4-factors-consumers-dont-realize-are-influencing-their-purchase-decisions.html
There will be 5-7 brand interactions before a consumer remembers a brand. https://www.g2.com/articles/marketing-statistics
Customers reported greater subsequent satisfaction when their original set of options had been limited. https://faculty.washington.edu/jdb/345/345%20Articles/Iyengar%20%26%20Lepper%20(2000).pdf
Learn more about Adam Erhart:
https://www.adamerhart.com
https://www.youtube.com/adamerhartvideo
https://www.twitter.com/adamerhart

Resources for Small Businesses:
Venture Forward study: https://www.godaddy.com/ventureforward
Up-to-date info on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com

The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.

#DigitalMarketing #MarketingPsychology #ConsumerPsychology #GoDaddy #SmallBusinessNewsandTrends #AdamErhart #MarketingTips #MarketingStrategies #MarketingStrategy

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