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Familarity Bias
It is a well known fact that consumers buy the same products from the same brands, in the same shop, time after time. The reason for this is familiarity bias. A consumer feels more inclined to a brand or product that they know, and trust. Also people just don’t like change. They like the familiar. So how does this help you?
Well it’s great news for business and marketers. Don’t change what you are doing! All too often businesses are trying to change their look, their products, the taste, that advert, this billboard. Don’t get me wrong, some change is good, but don’t change what you don’t need to. Is that advert still bringing in customers? Are you getting a return on investment? Do customers still buy your products and think they are tasty? Then don’t change them. The more a customer sees the advert or buys the product, the more familiar they become with it and your brand. Repeating your actions can only work in your favour.
But what do you do if you aren’t the customer’s first choice? What if consumers are too familiar with your competitor? How do you encourage them to make the switch? Well there are main methods. Firstly, it encourages them to take the first step. People are often happy with a new change, when they have had time to adjust. When they are used to a new system that becomes their norm. So, why not get customers hooked? Free samples, and trials are a great way to get a customer used to your product. Another great way of getting customers to take the first step is through codes. Codes/coupons magazines, or adverts, or even a code from an existing customer, works as an incentive to get them to try your brand over the competition; then, they’ll feel more familiar with you the next time they make that purchase, maybe they’ll decide to make the switch from your competitor.
Secondly, you can increase the familiarity of your brand to the consumers. Methods such as regular email marketing, and increased targeted social media advertising, is likely to be your best friend. The increased number of advertisements, or contact points that the customer has with you, the more familiar your brand will begin to feel. And once again, the next time the consumer wants to buy the products you sell, they may see your advert and be persuaded to switch.
Why not help your friend and family become more familiar with us, by liking and sharing our blog! Also, don’t forget to follow us on social media, so you don’t miss out on future blogs, and more psychology in marketing.
-- From Marketing to Mind --
Photo by Laårk Boshoff and Mae Mu on Unsplash
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