One of the biggest mistakes that marketers commit when trying to devise strategies to increase the reach of their brand to their target audience is focusing on numbers. Of course, lead generation is essential and there is no denying the fact that numbers will drive the business however, for long-term efficiency of any marketing and advertising strategy lies in how strongly connected the target customers feel to the product or service being offered.
Personalized marketing – what does it imply?
Marketing and advertising are most effective when these strategies are developed in a way that enables the target audience to identify with the message that you want to convey. Only by building a relationship with the target customers, marketers can have a considerable advantage. In this regard, storytelling goes a long way in creating personalized marketing campaigns. It wouldn’t be wrong to say that customers are driven by emotions and emotions should hence be at the heart of all marketing or advertising strategies.
Considering the use of emotions in marketing, there are two very essential marketing strategies that need a reference here – priming and framing. Each of these strategies has its own set of advantages, and marketers should be aware of them before adopting one of them.
Framing – making the right choices!
The ‘framing’ marketing strategy or the framing effect is a part of behavioral economics and is, hence, extremely important for marketers when they are devising marketing strategies for essential products or services.
With the framing effect, the customers’ mindset is taken into consideration that tends to avoid risks and prefer to take chances when the benefits are very evident. Typically, a customer perceives any information in two ways – gain (that provides a positive outcome) or a loss (that provides a negative outcome). That being said, consumers are keen on reducing their risk but at the same time, they want certainty with gains.
The above strategy is very effective for products and services that involve insurance products, safety features, or public health. However, the framing effect is not just limited to the above. By marketing the benefits while overshadowing the losses, marketers can gain the trust of their target customers. For example, while planning the marketing of low-fat yogurt, instead of using 20% fat for advertising, a more effective marketing strategy would be advertising the product as 80% fat-free.
Priming – linking reactions to positive stimuli
Just like the framing effect, the priming strategy is also based on behavioral economics. In this strategy, the subconscious mind of a consumer is taken into consideration. The marketers here will try to stimulate or trigger positive memories in the minds of the consumers associated with their products and services. These positive memories and created with positive branding through social media, billboard advertisements, and other avenues to reach out to the target customers in any demographic.
The marketers using the priming strategy will build a positive image for the product or service they are marketing in the minds of the consumers through great storytelling. Some of the advertisements that you may see on social media involving a background story cater to the priming strategy. The story is often more relatable than the product or service. The customer who saw the story (or the advertisement) will immediately connect with the product the next time he or she sees it and would prefer that product over its competitors. This is nothing but your target audience subconsciously getting influenced by the stimuli presented.
Both framing and priming are marketing strategies that involve studying the behavior of target customers and devising marketing strategies and advertising plans that will influence the target customers to act positively. While there is a difference in the use of the above marketing strategies, the prima facie purpose is to influence the purchasing power of the consumers to the best advantage.