Psychology in Business: How to Use Psychology in Your Business Strategy

If you’re like most people, you haven’t picked up a psychology book since your freshman year of college. While human behavior is certainly fascinating, the science behind our thoughts, patterns and motivation just doesn’t come up very often. It might surprise you to learn that behavioral psychology has informed some of the most effective business strategies in history. Psychology in Business: How to Use Psychology in Your Business Strategy

Academics have studied the science of human motivation for centuries. Put their efforts to work for you and your team. Consider giving these tips a try when developing your latest  business strategy:

You Get What You Give

Reciprocity is a funny thing. When someone reaches out a helping hand, psychology says we automatically feel more inclined to return the favor. With that principle in mind, incorporate generosity into your business strategy. The trick? You’ve got to genuinely be willing to give to your customers without any guarantee that they’ll reciprocate the gesture.

For instance, think about the last time you were offered a free drink from a server or bartender. Chances are good that you felt compelled to tip generously and visit again in the future. While not every customer will be as appreciative, people in the restaurant industry know how to pick and choose when to use this tactic for maximum impact. It’s the same principle that motivates hotels to upgrade newlyweds to a suite and for gyms to give away free trials to encourage new members to join. While this business strategy carries some degree of risk, it’s a classic for a reason.

Fill in the Mental Gaps

When callers dial your phone number, they’re probably imagining a physical phone ringing somewhere amidst your storefront or office. The voice on the end of the line? Many callers assume it’s one of your employees. And why shouldn’t they – after all, we take for granted that the person with whom we’re speaking is, indeed, sitting in that building and working for the company that we call. These assumptions are harmless, and banking on them in your business strategy can be incredibly effective.

While it’s never a good idea to mislead your customers, you can take advantage of the assumptions society at large makes about phone calls. If a customer calls your phone number and speaks to representative who is actually a remote contract worker in a call center, they will probably never know the difference. Done right, using an outsourced partner in this manner is actually a great way to lower labor costs while cultivating a strong brand image and improving customer satisfaction.

Walk a Mile in the Customer’s Shoes

We’ll let you in on a little secret: success in the business world is often not about your products or your services. The key to success frequently lies in relationships more than sales. You can have the recipe for the world’s most delicious chocolate chip cookie, but you won’t sell more than a handful if you don’t make meaningful connections with your customers. It’s not a flashy business strategy, but it’s one that rings true for countless entrepreneurs around the world.

If you’re hoping to foster and maintain long-term connections with each of your customers, it helps to empathize with them. Creating buyer personas and analyzing each of their journeys to a sale can humanize your most common types of customers. In turn, this business strategy will help you delight and inspire them to return time and time again.

Birds of a Feather

Human beings have a hive mentality. We naturally gravitate towards the things we see our friends and loved ones using. With that in mind, develop a business strategy that creates a buzz about your company, your products, or your services. When you get even a few social influencers on board with your brand, the domino effect is inevitable.

Of course, getting influencers to rave about your product isn’t easy. Rather than constrain yourself to one particular segment or platform for social marketing, kickstart a more organic discussion of your offerings. One business strategy? Offer freebies for new members and referral bonuses when their friends make a purchase. These perks are a great way to spread your brand while building loyalty with early adopters.

Partner with MAP Communications

No matter how you use psychology in your daily operations or long-term strategies, it’s worth incorporating the aforementioned principles into your business strategy in some capacity. Should you decide you’re interested in improving your customer service and improving your brand image while saving money on operating costs, consider giving us a try. Our call center solutions, virtual receptionists, and live answering services are ideal for businesses large, small, and in-between.

With more than thirty years in the industry, MAP has become a leader in customer service. We’re experts in delighting customers and inspiring them to come back for more. No matter your business strategy, MAP can add serious value for an affordable price. What’s more, new customers can take advantage of our free trial. For one week, you’ll enjoy all the benefits of our live answering service – we know you’ll love how much MAP brings to the table.

Sign up now for our free trial and see just how beneficial MAP can be for your organization!