How to use the Bandwagon effect and power of the crowd in your marketing?!
As an advertiser or a marketer, you always seek to successfully increase your sales and conversion rate. In order to achieve that, you need to understand your customers very well. So what is better than using psychology in your marketing?!
Here at Affsquare, we know the importance of understanding consumer behavior to increase sales and maximize profit. Actually, an important component of a successful marketing strategy is understanding HOW and WHY people act and think in certain ways.
One of the psychological phenomena that you need to know is the bandwagon effect. Consumers usually like to buy things based on their free will. However, if we as marketers dived deeper into their subconscious, we will find that their buying decisions are based on other people and things around them. As a matter of fact, statistics show that 95% of Purchasing Decisions are Subconscious. So that is why it’s most effective to target the subconscious mind when marketing a product to a consumer.
Through this article, you will understand the bandwagon effect phenomenon and how you can use it in your marketing strategy.
So What is the bandwagon effect?
The bandwagon effect is a psychological phenomenon in which consumers do or buy something because other people- especially many other people- are doing or buying it, regardless of whether what is being done aligns with their original beliefs. It has been shown that its effect is so powerful in many areas such as politics, public policy, and marketing. In addition, many studies have shown that the bandwagon effect influences consumers’ willingness to use an item and pay more for it.
Consumers often tend to imitate others and adopt certain attitudes by relying on others’ opinions and attitudes rather than their views. It is the concept that if enough people, or the right people, endorse a product, the product must be good, and This effect happens to consumers unconsciously.
academic research that investigated this phenomenon mentions that consumers usually imitate others’ behaviors. It was found that the number of buyers or even number of posts or ad engagement affects consumers’ decision to purchase. From consumers’ perceptions, the number of people who engage or buy the product reflects the quality of that product. Stimulus in the form of recommendations, feedback, ratings, or reviews is needed to complement emotional support. Also, the involvement of celebrities, idols, or influencers has a significant impact on consumer purchase intention.
Hence, we can say that this effect can trigger a buyer’s desire to purchase something that might not need just to go with the flow or follow the herd!
Now that you understand what the bandwagon effect is, you need to know why it happens and what factors influence it!
What factors influence the bandwagon effect?
Many factors contribute to influencing the bandwagon effect, such as:
Conformity to group opinion
People usually follow what the crowd is doing because it’s easier than forming their own opinion. Talking psychology, people don’t like to feel like outsiders. They feel secure and relieved when they have opinions that go with others’ opinions. That’s what happens with your consumers. They tend to conform to the group’s consensus. So when a lot of people say something about a product, they tend to follow those people’s opinions.
Efficient decision-making
Sometimes, it’s more efficient to resort to the bandwagon effect to cut short the decision-making process. As consumers find it easier to decide on something based on the bandwagon. They become more confident that the popular and talked about product will not disappoint their expectations as long as many people are talking about it in a good way. It was found that 74% of consumers rely on their social networks to make purchasing decisions. In addition, 92% of consumers trust word of mouth and consumers’ opinions.
A sense of belonging
This factor plays on the human need to belong to something. Humans are social beings who seek the approval of others. For this reason, the bandwagon effect offers an easy way to be part of the crowd. When you succeed in making many people give positive feedback and talk about your products, this will make those who haven’t tried it yet feel that they have to purchase it so that they can be part of the crowd. It was found that 48% of millennials have spent money they didn’t have to keep up with their friends.
Fear of missing out
The bandwagon effect can give consumers the sense that something is exclusive, so they have to act immediately, or they will miss out on this opportunity. Also, when finding many people talking about something or even knowing something they don’t, they will fear that they might be missing out on something. It was found that 60% of millennials make reactive purchases because of FOMO. In addition, 60% of people made purchases due to exclusive offers and discounts for fear of losing the opportunity more than their need to own such products.
You can read more about the Fear of missing out and how to use it in your marketing strategy through this article: Your Guide To Master Fear Of Missing Out Marketing!
Still, how this information can be beneficial for you as an advertiser? And how can you incorporate it into your marketing strategy?
This is what we will talk about now, Affsquare will provide you with some ideas to integrate the bandwagon effect in your marketing strategy.
How to use the bandwagon effect in your marketing?
1- Highlight your numbers
Showing that you have a high number of consumers who use your products will encourage other customers to buy them. You can achieve that by pushing notifications on your website, which shows consumers what others are buying. Or even through social media by generating engagement posts that will let your consumers respond and interact with you. For example, you can ask them what their preferable product is or what they like about your products. In fact, 84% of millennials report that user-generated content and other consumers’ opinions have some influence on what they buy.
So, When you do that, other prospective customers will see the massive number of your consumers and be prompted to buy.
2- Use scarcity techniques
As we mentioned before, fear of missing out can push customers to buy your product just to keep up with others. So showing that your products are about to be out of stock will give indications to your consumers that everyone is buying them, which means that they are missing out on something good. This perception will motivate them to jump on the bandwagon and buy your products.
3- Incorporate customer reviews
According to Statista, Having Product Ratings and Reviews is The Second Most Important Element. You can showcase your happy customers by displaying reviews on your website and social media. This will make you achieve the bandwagon effect. As consumers will be affected by others’ opinions which will make them purchase your product. It was found that 97% of participants said customer reviews factor into their buying decisions. In addition, reviews produce an 18% uplift in sales.
4- Appear popular and be talked about!
You can motivate consumers to jump on the bandwagon by involving your brand in wider conversations. You can do that by using social media. The bandwagon effect is in full force on social platforms, 76% of consumers have purchased a product they saw in a brand’s social media post, and 40% had purchased something after seeing it on Twitter, YouTube, or Instagram.
5- Use influencers and affiliates to Dominate conversation and market!
To achieve the bandwagon effect, you need to appear everywhere. To do that, you can make use of affiliates’ and influencers’ experience and popularity. Incorporating affiliate marketing in your strategy can guarantee to achieve the bandwagon effect. When consumers see many influencers talk about or use your product, it will motivate their buying decision. If consumers feel confident about an influencer’s recommendation, they are more likely to make a purchase.
It was found that 60% of people purchase products within 24 hours of seeing an endorsed product by an influencer.
Wrap up!
Using psychology and Integrating the bandwagon effect in your marketing strategy can lead to higher sales and profits. But if you combine that with affiliate marketing, it can do wonders for your business. We at Affsquare understand the importance of comprehending consumer behavior and using psychology to reach a dazzling marketing strategy that will guarantee your sales goals.
JOIN US NOW and make use of our affiliates who can help you implement the bandwagon effect and BOOST YOUR SALES!
