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Loewenstein

The 3 Types of Buyers, and How to Optimize for Each One

By |July 30th, 2014|

[Guest post by Jeremy Smith.]

I absolutely love buyer psychology and neuroeconomics. Want to know why?

● Because it’s like a secret weapon that produces torrents of conversions (and money).
● Because it’s the only real way to understand why and how buyers make purchases.
● Because it’s the proven route to successful marketing.
● Because it’s guaranteed to squash the competition. […]

How To Use Product Order To Increase Sales

By |November 27th, 2012|

Whether we are showing products on a web page or offering them in person, if you have more than one product you have a decision to make – the order of presentation. Should you lead with your best product? Close with it for a strong finish? Research shows us several approaches can be successful. […]

Neuromarketing Explains Weiner’s Pickle

By |June 9th, 2011|

The latest news on the lewd messaging scandal involving Congressman Anthony Weiner (Democrat, NY) was that he called former President Bill Clinton (who officiated at Weiner’s wedding) to apologize for his behavior. No transcript of the conversation was released, but it must have been an interesting chat. Did the ex-pres say something like, “Dude, I totally get it! They were hot!”? Both of these men engaged in behavior that, when exposed, seemed incredibly risky and stupid. […]

Closer to the Buy Button?

By |May 25th, 2011|

A specific part of the brain responsible for making decisions about value has been identified by neuroeconomics researchers at the University of Pennsylvania. Using fMRI, psychology professor Joseph Kable has shown that the ventromedial frontal cortex, or VMF, plays a key role in decisions involving value. […]

The Price of Everything by Eduardo Porter

By |January 14th, 2011|

Book Review – The Price of Everything: Solving the Mystery of Why We Pay What We Do by Eduardo Porter

Looking for more novel pricing strategies for business, I picked up a copy of The Price of Everything by Eduardo […]

Unconscious Buying

By |June 11th, 2010|

In a fascinating study just published in the Journal of Neuroscience, researchers have shown that we make buying decisions even when we aren’t paying attention to the products, and that fMRI observation of brain activity can predict these decisions. […]

Sands Research: Faster EEG for Neuromarketing

By |May 13th, 2010|

In what it terms a “neuromarketing breakthrough,” Sands Research has announced the development of a higher speed EEG brain wave monitoring system. The new setup uses a high-density array of EEG sensors capable of measuring activity 10,000 times per second. This hardware is combined with proprietary software to analyze brain activity. […]

Painful Games Companies Play

By |February 11th, 2010|

Does your company play painful games with your customers? I’m not talking about physical pain, but brain pain. More specifically, what has been termed buying pain or the pain of paying. According to research conducted by […]

Brain Fight: Who’s the Decider?

By |October 13th, 2009|

One of my favorite chapters in How We Decide by Jonah Lehrer is The Brain is an Argument. In this chapter, Lehrer highlights how complex our decision-making process really is, and how competing options battle for supremacy. […]

Five Ways to Sell in a Bad Economy

By |February 19th, 2009|

Some of my more popular posts over time have been those dealing with selling to two different customer groups: spendthrifts, who spend money freely, and tightwads, who don’t part with their money easily. (See Five Keys to Selling to Spendthrifts, Tightwads, Spendthrifts, and Everyone Else and Five Keys to Selling to Tightwads).

It’s safe to say that for the last few years, it was far more productive for marketers to target spendthrifts. In our overheated consumer economy, spendthrifts were a much more lucrative target than tightwads who had to be convinced to part with their cash. Now, though, we are all thinking like tightwads – even those who are still well-employed may harbor nagging doubts about their financial future. In this environment, it’s worth re-looking at some neuromarketing tips to succeed in selling to tightwads: […]