Psychology has a bigger effect on purchase decisions than you think
A while ago I was doing my monthly "Let's see what TED's been up to recently" session, and I came across an older one: Dan Ariely's Ted talk on irrational purchase behavior.
It's well-worth a watch (after, of course, you finish this article).
In it, he breaks down the delusion that our buying decisions are rationally made. He discusses the true influences and psychological factors which affect our subconscious - the real determinants for why we buy that pack of gum, why that T-shirt stands out, or why we decide we need a jacket we don't.
Ever gone into a store for a single thing and walked out with a full cart?
Psychology has a bigger influence on your prospective customers than you might think. Understanding how you can use psychology to influence buying decisions will make you a better marketer and…
5 powerful nudges that influence human behaviour
Consider the following puzzle:
A bat and ball cost £1.10.
The bat costs one pound more than the ball.
How much does the ball cost?
The number that many people arrive at is 10p, dividing up £1.10 neatly into £1 and 10 pence. However, the correct answer is 5p (if the ball costs 10p then the total cost will be £1.20 - 10p for the ball and £1.10 for the bat).
Now consider another question:
How many animals of each kind did Moses take into the ark?
This question is commonly referred to as the ‘Moses Illusion’. Moses took no animals into the ark; Noah did.
The incorrect answers many people give to these questions offers just a glimpse into the overwhelming evidence that indicates that one of the underlying assumptions of social science, that humans are generally rational and their thinking normally sound, is flawed.
Many of us believe that we know…
Six key findings from the Global Reviews UK Home Insurance Providers Digital Marketing Effectiveness Study Q3 2014:
In Q4 2014, Global Reviews conducted a Digital Sales Effectiveness (DSE) study amongst twelve leading UK home insurance brands including Admiral, Aviva, AXA, Barclays, Churchill, Direct Line, Halifax, Lloyds Bank, LV=, More Th>n, Nationwide and Tesco Bank.
The aim of this study, which is part of Global Reviews’ ongoing programme of research, was to find out how consumers are choosing particular home insurance providers online, to understand and measure their digital journeys, and the key influencers in their buying decision. By capturing digital marketing and sales journey insights, underpinned by scientific framework using competitor and customer data for the sector, this research unravels some interesting facts for this insurance industry to answer many of the 'Why Questions'.
Over 280 ‘in market’ consumers looking for home insurance in the next 90 days were studied as part…
Our multi-device day from Smartphone to Desktop to Tablet
Technology dominates our lives night and day! Really - even when we're asleep, our mobile devices are monitoring some of us.
We thought we'd share this nice visual from comScore's recent research which summarises when we are using tablets, PCS and mobile phones. Find out more by downloading Comscore's whitepaper for insights into Today's Digital Consumer.
In media we have always talked about 'dayparting' to target audiences at different times of the day - this research emphasises the need to use mobile to target audiences. Desktop only will no longer cut it! Likewise, when creating digital experiences we need to ensure adaptive website designs that work in different contexts from smartphone to desktop to tablet.
Of course, the media use curves above are a simplification, as this insight from the Ofcom digital…
What influences purchase of your product or service?
Getting cut through is a key challenge for marketers today since there are so many online influences on purchase from search engines and social networks and from media sites to personal blogs and YouTuber vlogs.
So, to be effective in influencing purchase today, brands need to intimately understand the footprint of their brand communications through marketplace mapping and how this relates to consumer purchase decision-making.
To help you understand your consumers' decision journey we have created this new infographic which summarises the latest thinking on how to use online marketing to influence purchase.
[caption id="attachment_39199" align="aligncenter" width="600"] Infographic: Today's consumer journey and the influences on purchase[/caption]
Free digital strategy infographic bundle