thinking: people are doing it wrong!
TRANSCRIPT
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Thinking:People are doing it wrong!How cognitive biases and mental heuristics help to sell more.Priit Kallas, Dreamgrow
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Estonia
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Deeper understanding of human behavior
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Where and when we get the message has an effect on the result. Office, home, car, mobile, desktop...
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People don’t think!
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Anchoring EffectFirst bit of information establishes a range of possibilities.
Everything that follows will be anchored by that opening information.
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$20,000
website
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18250
10,200 € or 12,100 €
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Less-is-better effect
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Availability heuristicWe overestimate the
importance of information that is available to us.
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Running ads for winter tires when
there’s a news about car crashes
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Endowment EffectYou are less likely
to give up something you own, than you
would bewilling to pay
to get it.
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Using Endowment Effect• Scoring points• Provisionally awarded bonus• Need for consistency• Sunk cost fallacy• Loss aversion
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We aspire to round number goals
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IKEA effectDisproportionately high value on things that you partially assemble, such as IKEA furniture...
... regardless of the quality of the end result.
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Just add water!Give people easy first steps to put in their own effort.
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Loss aversion
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Choice-supportive biasWhen you choose something, you tend to feel positive about it, even if the choice has flaws.
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Post-purchase rationalizationPeople persuade themselves through rational argument that a purchase was a good value.
576ppi
Samsung Galaxy S5 LTE-A
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Unit bias
We believe that there is an optimal unit size
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Small site, no data?Important to understand what makes users tick.Talk with them, involve them in the process.
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Teaching and using statistics did not develope an intuitive sense of the reliability of statistical results in small samples.Our judgments were biased...- Daniel Kahneman
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Confirmation bias
We search, interpret, and recall information in a way that confirms our beliefs and hypotheses.
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Observer-expectancy effectWhen a researcher expects a given result and therefore unconsciously manipulates an experiment or misinterprets data in order to find it
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Hyperbolic discountingPeople want an immediate payoff rather than a larger gain later.
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The Current Moment Bias
Some of us would rather experience pleasure now, while leaving the pain for later.
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Bias blind spots
We see cognitive biases more in others than in ourselves.
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A bat and ball cost $1.10.The bat costs $1 more than the
ball.How much does the ball cost?
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10¢
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5¢
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Your name here
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But you don’t need that...
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Conversion Ninja
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Picture superiority effectConcepts learned by viewing pictures are more easily and frequently recalled than those that are learned by viewing their written word form counterparts.
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Conversion Ninja
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Conversion Ninja
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Cognitive biases and mental heuristics
• 92 Decision-making, belief, and behavioral biases• 26 Social biases• 51 Memory errors and biases
• https://en.wikipedia.org/wiki/List_of_cognitive_biases
• https://en.wikipedia.org/wiki/List_of_memory_biases
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