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20 Magic Words, How to be Interesting, & More – Roger’s Picks

Here’s a longer than usual batch of diverse (but great) content we discovered in the last seven days… add your own great find in a comment! […]

By |May 2nd, 2014|

The Simple Way To Minimize Buyer’s Remorse

Guest post by John Carvalho

Who hasn’t had buyer’s remorse? That post-purchase anxiety about a decision is all too common. Did we pick wisely? Should we have spent more? Or less? What about the item we could have bought but didn’t – once we make a decision, the “grass is greener” effect kicks in and we question our choice.

The good news is that scientists studying “choice closure” have found that encouraging specific post-purchase behaviors can minimize buyer’s remorse and maximize satisfaction with the decision. […]

By |July 16th, 2013|

Is This Common Pricing Mistake Costing You Sales?

If you have an ecommerce site, how often do customers visit – often after a costly paid click – and end up leaving without buying? Are abandoned shopping carts all too common? Or, if your customers visit your retail store, how often do you see them compare several items, only to buy none of them and move on? If you stock similar items (and who doesn’t?), the problem could be your pricing. […]

By |April 4th, 2013|

Six Characteristics of Highly Persuasive Stories

One of the toughest persuasion tasks is convincing a jury in a courtroom. Car salespeople have it easy by comparison – they control the environment and have the undivided attention of the customer. Imagine if you were in a Lexus showroom listening to why you should buy one of their vehicles, and at your elbow was a BMW salesperson, periodically objecting to the Lexus pitch and then delivering her own. That’s the situation in a courtroom – arguments presented by one side will be directly (and mercilessly) attacked by the other side. One trial-proven persuasion strategy is the use of stories.

Researchers Philip Mazzocco and Melanie Green draw a contrast between rhetorical persuasion, in essence arguing with facts and logic, and the use of narratives to influence decisions. They conclude that stories are more effective at changing emotional beliefs that logical arguments have difficulty reaching.

The whole discussion is an interesting read, but for me one big takeaway is the list of factors that have been found to make stories more persuasive:

[…]

By |July 18th, 2012|

Thinking, Fast and Slow

Book Review: Thinking, Fast and Slow by Daniel Kahneman

Scientists love to divide human thinking into two parts: right brain vs. left brain, rational vs. emotional, conscious vs. subconscious, and no doubt many others. Daniel Kahneman, Nobel Prize winner in Economics, proposes a simple split to explain much of human behavior: fast vs. slow. He makes it clear that this is an artificial construct, but at the same time draws upon decades of research to demonstrate its utility. […]

By |March 22nd, 2012|

Santorum’s Test, and Why Conflict is Good

Rick Santorum, as most people now know after his surprisingly strong finish in the Iowa caucuses, is one of the of candidates seeking the Republican presidential nomination. Recently, Santorum responded to a question about who he’d place in […]

By |January 5th, 2012|

The Rivalry in Your Customer’s Brain

Decisions aren't linear conclusions - they are often a battle of competing interests in the consumer's brain. Marketers need to identify some of these rivals and back a winner with their advertising.

By |August 30th, 2011|

Nudge by Thaler and Sunstein

Nudge is all about choice architecture, a discipline which structures choices in a way that produces the most beneficial outcome. I don't have to tell Neuromarketing readers that humans often behave in conflict with the traditional economist's view of rational decision-making. Thaler and Sunstein not only provide plenty of evidence of irrationality, but they show how to avoid some of the problems it causes.

By |July 25th, 2011|

Choice Fatigue

Your brain gets tired, and one fatiguing activity is making choices. Various studies show that as people make more decisions, their subsequent decisions are rushed or they don’t decide at all. One study, by Ned Augenblick and Scott Nicholson of Stanford, analyzed voting patterns in a California county. They found that the lower on the ballot an item appeared, the more likely the voter was to not make a choice or to use a shortcut, like picking the first choice or voting to keep the status quo. […]

By |February 14th, 2011|

Secrets of the Moneylab

Book Review: Secrets of the Moneylab: How Behavioral Economics Can Impact Your Business by Kay Yut Chen with Marina Krakovsky

Economics can be dry stuff – remember “macro,” “micro,” and supply/demand curves? Fortunately, Secrets of the Moneylab is a […]

By |January 25th, 2011|