Marketing Fun Friday: Marketing Memories to Influence Buyers

Posted by on July 19, 2013 in Marketing, Sales 2.0 [ 0 Comments ]

Marketing Memories to Influence Buyers

Marketers and businesses are always on the lookout for ways to gain an edge over the competition. Content marketing, an online presence, active social media dialogues and the like are all common trends that modern marketers are paying attention to and optimizing. One route that many may not have considered is marketing memories through these multiple mediums that are currently being used. In a TED Talk, Daniel Kahneman, who won the Nobel in Economics for his work in behavioral economics, pointed out that the decisions we make are based on our memories, not our experiences. Let’s take a look at what Kahneman is advocating and how marketers can use this information to connect with buyers.

The Two Selves

Customers are looking for deeper, more engaged, and more meaningful experiences. Customer experience studies tell us this and often times, businesses that focus on delivering great customer experiences are able to surpass those that do not in terms of sales and customer loyalty. Now, let’s turn our attention to Kahneman, who explains that our memory tells us stories and that there are “two selves” involved – the “Experiencing Self” and the “Remembering Self.”

  • The Experiencing Self: This self lives in the present, processing inputs and information from the surrounding environment. The voice of the experiencing self does not make decisions, because this is not the self that is reflecting on past experiences.
  • The Remembering Self: This self is the one that stops to evaluate an experience, a meeting or an event, after it has ended. The remembering self is the one who can answer questions about how a trip went, for example, and tells itself stories about what has happened.

Time is what distinguishes these two selves, but has little impact on the story. Now that you have had a chance to look at the two selves, consider what you can do to market to these two selves of each of your consumers.

What Marketers Can Do

Marketers need to satisfy the needs of the Experiencing Self so that consumers are drawn in, while also providing the experiential change that the Remembering Self can use to create memories that keep the customer coming back. Here’s how you can do just that:

  • To appeal to the Experiencing Self, focus on features and accessories of your products and services. Peak their “in-the-moment” interest as they browse products on your e-Commerce site or shop around your brick-and-
    mortar business.
  • Provide new, interesting experiences to your customers. These experiences will create memories that encourage the customer to come back for yet another new, interesting experience.
  • Nurture campaigns, whether it’s in-store or online, will remind your customers of their positive experiences and draw in those happy memories that encourage future interactions with your business and brand.

We choose between memories and experiences. We think of the future, according to Kahnmenan, as anticipated memories. Think of the memories you want to create for your customers. Return customers keep businesses running and by creating great experiences that lead to positive, happy memories will encourage a one-time customer to keep coming back for more.

(Image: Screenshot of TED Talk)

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