I'm suggesting that you label your customers. The study examined the voting patterns of adults to see if labeling them had any affect on their turnout at the polls. After being casually questioned about their regular voting patterns, half of the participants were told that they were much more likely to vote since they had been deemed by the researchers to be more politically active. People like being part of groups that imply some superior quality or level of status that has their approval.
Fortunately, the secret boils down to utilizing well-written copy that appeals to their apprehensive nature. According to some remarkable neuroimaging studies, minimizing buying pain for tightwads and everybody else can be successfully accomplished by incorporating three simple strategies. To make matters worse, it seems like a HUGE amount of money for conservative spenders. While this reframing method is effective for buyers of all types, it is most effective when targeting conservative spenders.
Neuroeconomics expert George Loewenstein notes that all consumers especially conservative spenders prefer to complete their purchase in one easy fell swoop rather than purchase multiple accessories separately.
These individual purchases create individual pain points, whereas a bundled purchase creates only one pain point, even if the price is much greater. One of the goofiest conversion bumps ever is a study done by Carnegie Mellon University that reveals the impact of a single word on conversion rates.
Selling to tightwads is especially important because they make up a large base of your potential customers. The right choice of words can greatly reduce their buying pain. Is it ever a good idea to admit to your faults? Consumer behavior research from social psychologist Fiona Lee states that admitting shortcomings is a great way to simultaneously highlight your strengths.
Experimenters read one of two fictitious company reports. Both reports listed reasons why the company had performed poorly last year. The first report placed emphasis on strategic decisions. The second placed emphasis on external events. The test subjects viewed the first company far more favorably than the second. Admitting to shortcomings in areas like strategic thinking showcased that the company was still in control, despite their faults. After examining hundreds of these types of statements, Lee found that the companies who admitted to their strategic faults also had higher stock prices the following year.
When blaming external forces even if they happened to be true , companies gave skeptics a reason to view them as not having the ability to fix the problem, in addition to the consideration that they might just be making excuses. Admitting to honest errors in judgment helps your customers understand that you are still in control of the situation and not prone to making excuses. Creating a sense of urgency in your copy is one of the oldest tricks in the book The following research explains why urgency can completely backfire on you and ruin your meticulously written sales copy.
The research is a classic study by Howard Leventhal where he analyzed the effects of handing out tetanus brochures to subjects. Leventhal conducted the study by handing out two different pamphlets, both sparing no detail on the horrid effects that the tetanus disease can have on the body.
The first pamphlet described only the effects of tetanus, while the second included information on where to get vaccinated. Invoking urgency only had a noticeable effect when follow-up instructions were given.
Those who received the follow-up info were also more engaged with the pamphlet as a whole, being able to recall much more specific information from the packet than other participants. Research has shown that instant gratification is such a powerful force that an ability to control against it is a great indicator of achieving success. Your copy should remind buyers of this advantage at every turn. When a potential customer is on the verge of completing a purchase from your business, they are heavily influenced by how quickly they can receive gratification for parting with their hard-earned money.
Several magnetic resonance imaging MRI studies, including one on nicotine addiction, have shown that our frontal cortex is highly active when we think about waiting for something. Researchers have noted that the key to these words is that they allow us to envision our problem being solved right away; whatever pain point we are seeking to fix by purchasing something becomes far more enticing if we know our dilemma will be solved instantly. When consumers know they will be rewarded immediately, they will be anxious to buy your products.
In the business world, meaningful connections are paramount to your success. After all, who you know is often as important as what you know. When could this ever be a good thing? In the tests, subjects were asked to choose between two objects or people that they had no relation or connection with; one example asked participants to pick between two painters with meaningless differences.
Tajifel found that he could create groups of people that would show loyalty to their supposed in-group and outright discriminate against outsiders, all with the most trivial of distinctions. These studies draw on an array of qualitative methodologies and the substantive topics represent crucial issues for our times. Consumer research is both a micro managerial topic highlighting issues that are potentially relevant to improving marketing effectiveness and a macro sociological topic considering the nature of consumption and its effect on human well-being.
The series covers a range of topics employing both quantitative and qualitative research methods. These topics range from advertising effects and brand meanings to materialism and consumer culture. Because consumer behavior is such a central part of contemporary life, papers in these volumes address the role of consuming at the levels of individuals and organizations, families and groups, and cultures and subcultures.
Perspectives drawing on psychology, sociology, communications, history, anthropology and religion can all be found within its pages. The series is relevant to each of these disciplines as well as consumer behavior scholars seeking the latest in consumer research, research methods and theory.
Columbia University research on how to use the Big Five to convince others. The distinction matters because it helps pinpoint the best approach to deal with the problem. When you think about Italian-made products, what comes to mind?
Is it the romantic image of a cobbler or artisan from Italy giving the "Made in Italy" brand such panache? Costly Signaling Theory proposes that our noble actions send honest signals to others about our genetic quality, our access to resources, and our cooperative nature.
We tend to overestimate control when we have very little of it, but underestimate control when we have a lot of it. Bragging is the most efficient way to convey a positive image to our constantly expanding social circles. Kay on July 13, in Financial Life Focus. The business world is at war. It has fortified its forces, from experts in branding, social media, and marketing, to psychologists and designers, to win a war for your dollars.
By Gleb Tsipursky Ph. Can we put an end to the scourge of misinformation? Research shows we can. To be happy, buy what you need and share what you have. Splurging to outdo others is not money well spent. Mindful Medicine is here. Value is what patients, doctors, and healthcare systems target. Money cannot buy love, but it can buy happiness—if it is spent on the right things. Navigating the complex factors at work in your relationship with money. The psychology of what we buy, how we choose, and why we need to make sense of it all.
How behavioral science illuminates the forces at play in our decision making. From consumer marketing to organizational behavior and much more. Back Psychology Today Canada. Back Find a Therapist. Cognitive Dissonance, Willpower, and Your Brain. The Psychology of Hothouse Earth. The Leadership Bind During Crisis. What Is Consumer Behavior? Zen and the Art of Marketing Whether products bring happiness depends on how you define happy.
Advertising Is Magic Advertising is a form of sorcery. By Kit Yarrow Ph. Why You Buy In shopping—as in life—it's not just what's inside that counts.
By Alain Samson Ph.
Companies study consumer behavior to learn how consumers respond to or use products. Whether testing new products or services, refining existing products or designing new marketing campaigns.
Consumer behavior research from social psychologist Fiona Lee states that admitting shortcomings is a great way to simultaneously highlight your strengths. The Study Lee’s study aimed to measure the effects of admitting to missteps and faults, and how these actions would affect stock prices.
Market Research and Consumer Behavior from IE Business School. Your marketing quest begins here! The first course in this specialization lays the neccessary groundwork for an overall successful marketing strategy. It is separated into two. This article analyzes 12 years of recent scholarly research on consumer behavior published in the five leading international journals in this field. Analyzing academic contributions to a specific area of research provides valuable insights into how it has evolved over a defined period. The approach was to briefly discuss content analysis .
The most cited papers from this title published in the last 3 years. Statistics are updated weekly using participating publisher data sourced exclusively from Crossref. Food Safety Survey (FSS) reports, health and diet surveys, and other surveys and research.