Posted on May 16, 2019
Top 3 Ways Psychology Can Help You Grow Your Business
It is said that ultimately business is about people. You work with people to make a product or service, and you sell the same to other people. Psychology in business is a useful tool in helping entrepreneurs understand how to interact with others in and out of the firm.Read on to find out how you can tap into the power of psychology to grow your business and career.
1. Social Proof
Every entrepreneur dreams of advancing their career and ultimately being successful. One clear way that every business person knows leads to success is delighting and surprising their customer. In this modern internet age, it has become much harder to give your customers an experience that will leave them wanting more. Nearly everyone knows about your brand before they even get to talk to you. In a world where almost 70% of customers online first look at reviews before making a decision to buy you need incontrovertible proof of your ability to deliver. Social proof is a useful psychological technique that can help you build a stellar reputation for better performance.
Social proof is a psychological occurrence where people conform to the actions of others while under the assumption that these actions indicate correct behavior. If your prospective customers are eager for social proof from your business before buying from you, it means that your success is partly influenced by it. Use testimonial from previous customers as a way of demonstrating that your business can deliver on its promise.
If professional opinion is essential in your field then get credible and esteemed experts from your sector to speak on the quality of offering your company provides. Toothpaste manufacturers, for example, use professional dentist endorsements in their marketing to show how their product works. No matter how you go about it, social proof is a valuable psychological strategy that can help you advance your business.
Zig Ziglar, a world-famous author, is known for one of his best quotes on reciprocity. He says that, “You can have everything in life that you want if you just give enough other people what they want.”Reciprocity in psychology is the societal norm where people respond to a positive action with another positive action aimed at rewarding kindness. When you are kind to others they respond in a more cooperative manner with reduced self-interest.
As an entrepreneur, you can tap into this to drive your sales or grow brand loyalty. Reward your customers with gifts,freebies and other valuable benefits, and they will respond by being more loyal to you. A good example here is credit card companies that give cash back offers. Though the amount can be little, the corresponding effect in their customers is that of appreciation and loyalty.
In business, your ability to influence others in a positive and beneficial way is an essential trait for success. In and out of your business you can use authority to make tangible progress in your career. Internally authority will help you craft strategy with positive outcomes for the business. Your ability to influence and motivate your team directly impacts productivity. Externally, you and your business can use authority to gain a competitive edge. The most common form of this today is the thought leadership strategy.
Thought leadership is where a brand shares valuable information on a regular basis publicly to help its followers at no charge, while this strategy may seem like a loss in the short run it is anything but it. Consistently providing information that solves the needs of your followers for free makes you credible. In their eyes, you know what you are talking about. You come across as an experienced entity in your industry.That kind of perception is what gives you authority positioning in the market.As a result, customers will come to you first when they need the type of services you provide.
Build Your Business
As an entrepreneur, there are various ways you can grow your career. Psychology is an essential strategy that can help you place your firm on better footing internally and externally. The above tips could make all the difference for your business.