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Understanding Marketing Psychology

Understanding Marketing Psychology

FromHead Start


Understanding Marketing Psychology

FromHead Start

ratings:
Length:
83 minutes
Released:
Feb 21, 2022
Format:
Podcast episode

Description

Why do some of your marketing campaigns work and others don’t? Why do you yourself as a consumer respond a lot more favorably to some types of messages and not others? At the end of the day, what makes us all take our wallets out and pull the trigger on that next purchase?The answer to all those questions more often than not comes down to psychology. We are programmed to respond to certain queues - what our peers say about a product, how scarce that product feels, or how likeable the brand selling to us appears - in ways that we ourselves often don’t fully understand. Today we have an absolutely fascinating discussion for you on all those triggers that make marketing campaigns work, and how you can bring the best of those lessons to your event marketing. We’re going to be touching, among other things, on using race testimonials as social proof, early-bird pricing & price increases, the role of influencers and celebrity runners, and how you can use freebies to increase your registrations and grow your mailing list.My guest today is Andy Reilly. Andy is the CEO of event marketing company EventGrow and the President of race listing site, Raceplace.com, and he is super-passionate about the subject of marketing psychology and its foundational importance in developing an effective marketing strategy. In this episode:Why do people buy stuff? What influences their purchasing decisions? Robert Cialdini's 6 psychological influence triggers: reciprocity, commitment & consistency, social proof, authority, scarcity, likeabilityReciprocity: winning over participants by giving something of value to them for free Reciprocity in practice: leveraging free training plans and exclusive discount codes to grow your mailing list; using freebies to increase your race survey response rate by 20%Commitment & consistency: aligning your messaging with your participants' goals Commitment & consistency in practice: supporting people's fitness aspirations; promoting your race's PB potentialSocial proof: converting people through the power of peer influenceSocial proof in practice: making the most of past participant reviews; showcasing testimonials on your site; including social proof stats in your ad copyBuilding social proof: collecting testimonials from race surveys; encouraging participants to leave reviews on race review sitesAuthority: recruiting authority figures to promote your eventAuthority in practice: leveraging the power of celebrity participants; using influencers to promote your race; projecting brand authority through high-profile sponsorships; showcasing event awardsScarcity: using loss-aversion (aka FOMO!) to drive registrations Scarcity in practice: early birds & price increases; the "100 spots left" playbookLikeability: making your brand more likeableLikeability in practice: speaking your audience's language; aligning your event with good causes; recruiting likeable personalities to your event; engaging with your participants online Thanks to RunSignup for supporting quality content for race directors by sponsoring this episode. More than 25,000 in-person, virtual, and hybrid events use RunSignup's free and integrated solution to save time, grow their events, and raise more. You can find more resources on anything and everything related to race directing on our website RaceDirectorsHQ.com.You can also share your questions about marketing or anything else in our Facebook group, Race Directors Hub.
Released:
Feb 21, 2022
Format:
Podcast episode

Titles in the series (76)

Head Start is a podcast for race directors and anyone involved in the business of putting on races. It doesn't matter where you're based or how many years experience you have or whether you're putting on a running race, a triathlon, an obstacle race or whatever. If you’ve got an interest in planning, organizing and growing endurance events, this is the podcast for you.The focus of the podcast is twofold: 1) we bring you the latest and coolest innovations hitting the mass-participation endurance events industry, and 2) we bring you tips and actionable advice from industry experts to help you improve your race - one episode at a time.Head Start is produced by RaceDirectorsHQ.com, an online resource platform and community network for race directors and race management professionals.