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Marketing And The Psychology Of Savings

Savings is a word that can have a considerable and positive impact on your marketing and advertising efforts, and this is a word that you may want to incorporate into your own marketing efforts as well. Each word in a marketing and advertising campaign should be carefully selected rather than arbitrarily chosen because of the impact and behavioral influence that a single word can create. By understanding more about the power of this word, you may be able to determine when, where, and how to use it.

How Your Target Audience Feels About Saving Money

Regardless of whether your target audience is a consumer or another business, the fact is that they likely work hard for their money and do not want to throw it away. Furthermore, there is a specific sentiment in relation to money that associates saving it with security and peace of mind. There is stress associated with spending too much money and not having enough money for your needs. These are powerful feelings that can drive consumer actions, and you can cash in on those feelings when you incorporate the right words in your marketing message.  For example having the word Referral bonus, Savings, or Rewards is a great way to entice people to spend money to earn extra value.  That is why Referral Programs and Loyalty and Rewards programs are so powerful. 

How This Word Influences the Perception of Value

While there is a certain personal sentiment associated with savings that can trigger an emotional response, there is also a logical factor to consider. Your target audience may be looking for the best deal or value for their money. They may understand that there is a certain price they must pay for your goods or services, and the idea that they can save money while still getting your goods or services may create a feeling that they are getting extra value for their money. Essentially, this word suggests that they are getting the same product or service without paying the full price for it, and there is power in this message.  To add to this, when your business gives more value than the price that the customer pays for your typical products and services, you in turn create loyalty!  These are the premises of all successful loyalty and rewards program globally. 

How to Use This Word in Your Marketing and Advertising

As you can see, this is a powerful word that can influence consumer behavior and can create a stronger desire for them to make a purchase. It can be used to help your business overcome objections about price or value as well. While it is powerful, you may also want to use it sparingly yet with emphasis. The last thing you want is for your material to be loaded down with this critical word, but you want this word to get the recognition that it deserves. Think about enlarging the font size, using a different type of font or different colors of the text to make this important word pop. As you make your decision about word choice in your marketing and advertising messages, savings is an important word that you should think about using for effect.

Learn more about how you can make your message stick with the right marketing tool.

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