Do you master the Cognitive Biases?
Drawing different conclusions from the same information, depending on how that information is presented.
Did you know that framing is an excellent technique to nudge your customers? Did you read how you can nudge customers with framing?
The tendency to rely heavily on the first piece of information.
Anchoring can be applied to many situations. And you don't have to be a marketer to benefit from it. It can be used to reduce price pain as well.
What makes people believe a statement more?
Rhyming is a powerful tool that can make your messages stick better. In our Christmas shopping guide we also mention it briefly. Authority on the other hand is one of Cialdini’s persuasion principles. It is a powerful tool for both offline and online marketing.
When given a choice between several options, we tend to favour the standard one.
People tend stick to what they already know and have, even though they are aware that it is not the best option. This is called the Default effect or Default bias.
The effect, that people better remember information relating to themselves than similar information relating to others.
Have you heard of the cocktail party-effect? This is closely related to the self-relevance effect. In All you need to know about visual cues in your online marketing you can read more about the these effects and how you can apply them.
What do we experience stronger, losses or gains?
We experience the pain of losing twice as strong as the pleasure of earning equal gains. In the article You don’t have to be a marketer to benefit from neuromarketing you can read more about loss aversion and how it impacts our behaviour.
What is an example of Social Proof?
Both the amount of followers, and ratings and feedback are types of social proof.
The tendency to develop a preference for things only because we encounter them often.
The mere-exposure effect can be explained by increased processing fluency in our brain. That means, the more familiar we are with something, the easier our brain can make sense of it. In general, the easier something makes sense, the better we like it.
Do people tend to spend more when paying with cash or with credit card?
This phenomenon is also called the cashless effect. People perceive the value of money differently when paying with credit card as they don't 'feel' it. A plastic card basically has no material value. Also, the paying process is quicker, there is no need to count the bills and the reduction of your money because of the purchase is less obvious.
A tendency to believe that a statement is true if it is easier to process, or if it has been stated multiple times, regardless of its actual accuracy.
When judging a statement's accuracy our brain utilises several shortcuts. One is how easy it can understand it. Also, the more often the brain already processed it before, the easier it is to make sense of it again.
