Brain Scans Reveal Emotions Involved When Spending Money
If you are going to be good at marketing, you need to understand what makes people tick. And one of the great things about studying hypnosis is, you are constantly learning about what makes people tick.
From a marketing perspective, you want to understand the EMOTIONS behind their decisions to buy one thing instead of another. Even the most logical of us still make buying decisions based on emotions. Note, you should still include logical reasoning in your advertising copy because people will justify their decision to others with logic.
This is all a lead in to this very interesting bit of reserach which discovered something unexpected and that defies commonly accepted economic principles.
Pleasure of Purchase vs Pain of Spending Money
An article at Science Blog about how people weigh spending decisions had this to say
This study challenges the conventional economic account of consumer purchases, which views consumers as deciding between the immediate pleasure of making a purchase and the delayed pleasures of alternative things for which the same money could be used.
The results of this paper support an alternative perspective that views consumers as trading off the immediate pleasure of making a purchase against an immediate pain: the pain of forking out the money for the item.
The results can explain the growing tendency of consumers to overspend when purchasing items with credit cards instead of cash, because consumers do not immediately pay for items charged to credit cards and the "pain" of the potential loss is minimized.
Full article at: Science Blog
Takeaway Points to Consider:
- All buying decisions are based on emotions. If your advertising copy doesn’t speak to emotions you are wasting your money.
- You want to be sure you are focusing on the PLEASURE part of the equation in your marketing efforts. That means really making the benefits of hypnosis obvious to your prospective clients.
- The higher your prices, the more your marketing will need to addess the pleasure the BENEFITS from using your hypnosis services so that it outweighs any perceived ‘pain’ from paying your fees.
- People will spend any amount of money to get what they really want. It’s up to you to make your hypnosis services highly desireable through your marketing efforts.
