7 powerful cognitive biases that will help you sell more, shop smarter, and persuade better:
π§΅
π§΅
1. The Bandwagon Effect
If a bunch of people are doing or enjoying something, other people are more likely to be interested in it.
This is why every good eCommerce store on the internet highlights reviews, testimonials, and mentions in big publications.
If a bunch of people are doing or enjoying something, other people are more likely to be interested in it.
This is why every good eCommerce store on the internet highlights reviews, testimonials, and mentions in big publications.
2. Loss Aversion
People tend to be more emotional about potential loss than they are about potential gain.
This is why the best marketers engineer their offers to limit downside and highlight the negatives of not taking action.
People tend to be more emotional about potential loss than they are about potential gain.
This is why the best marketers engineer their offers to limit downside and highlight the negatives of not taking action.
3. Zero-Risk Bias
People are more likely to take action when they believe there is zero risk involved in doing so.
This is why the best offers have refund guarantees, results guarantees, and other risk reducers.
People are more likely to take action when they believe there is zero risk involved in doing so.
This is why the best offers have refund guarantees, results guarantees, and other risk reducers.
4. Anchoring Bias
People tend to be influenced more by the first piece of information they receive.
This is why salespeople often present an expensive option before pitching a moderately-priced one.
People tend to be influenced more by the first piece of information they receive.
This is why salespeople often present an expensive option before pitching a moderately-priced one.
5. Framing Effect
People tend to make different decisions based on how that options are framed.
This is why you so often see the price of things compared to βX cups of coffee per day.β Framing can minimize perceived cost.
People tend to make different decisions based on how that options are framed.
This is why you so often see the price of things compared to βX cups of coffee per day.β Framing can minimize perceived cost.
6. In-Group Bias
People tend to think favorably of their in-groups and unfavorably of their out-groups.
This is why marketers often use βus vs themβ persuasion. Example: A local farm making big food companies βthemβ and the little guy βus.β
People tend to think favorably of their in-groups and unfavorably of their out-groups.
This is why marketers often use βus vs themβ persuasion. Example: A local farm making big food companies βthemβ and the little guy βus.β
7. Choice Overload
People tend to freeze up when presented with too many choices.
This is why marketers and salespeople often reduce the number of options available to 1-3 or offer assistance (like quizzes) when pitching large catalogs.
People tend to freeze up when presented with too many choices.
This is why marketers and salespeople often reduce the number of options available to 1-3 or offer assistance (like quizzes) when pitching large catalogs.
That's all of them.
If you liked this thread:
1. Follow me @thePhilRivers for more
2. RT the tweet below to share the knowledge
Thanks for reading π€
If you liked this thread:
1. Follow me @thePhilRivers for more
2. RT the tweet below to share the knowledge
Thanks for reading π€
Loading suggestions...