5 Key Drivers of Customer Behavior
You can change someone's behavior by either adding motivation or removing friction. Matej explains each of the 5 key principles using case studies and fascinating examples.
What you will learn
- What’s the most important and overlooked principle in consumer psychology and how to use it
- How to use people’s tendency to go with the flow to your advantage and incorporate it in your marketing strategy
- Why you should make customers feel like they got something from you before even asking them to buy something or sign up
- The easiest strategy to persuade customers – reduce the perceived effort
- Why customers are twice as sensitive to losses as they are to gains and how to use this in your communication in unexpected ways
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Content in detail
This course segment is split into six parts. First, Matej will give an introduction on the drivers of behavior and then explain each key principle in detail.
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01Uncertainty
Why do we shy away from using the self-checkout, especially when the line at the cashier desk is such a drag? How does Netflix make signing up for a free month trial seem so reassuring and transparent? And what does all this mean for your business? You’ll learn how Matej used this concept to boost conversions by 154%.
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02Social Proof
Why do we tend to go with the flow and what does it mean for your marketing strategy? You’ll discover why pointing out what everybody isn’t doing is not the right appeal to get more people to join. You’ll also find that there are quite a lot of ways to do this better and learn what to look out for when it comes to nailing down the intricacies of social proof.
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03Reciprocity
We hate to be seen as moochers, takers, or cheapskates. So much so, in fact, that if we’ve been given something first, we tend to return the favor. You don’t need to give anything material to make customers want to reciprocate. Matej didn’t either, and yet he managed to increase charitable donations by 55%.
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04Perceived Effort
Why does great content get overlooked? Why does something feel like too much effort, even when it’s not? Find out how to convince customers that something is easy and learn what “keeping it simple” can mean for your business.
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05Loss Aversion
Disenchanting to experience, enchanting to use. That’s loss aversion in a nutshell. What’s the right appeal? And what can backfire?
You’ll find that IKEA packs quite a punch in this video; it even has an effect in its name: The IKEA effect.
How can you make someone feel like they own something before they’ve even purchased it? Why does this work so well? Well, it all comes down to what’s known as the endowment effect, which helped Matej increase job ad conversions by 57%
Course instructor
Matej Sucha
Managing Partner
MINDWORX Consulting
Recognized speaker and expert in applying behavioral economics and consumer psychology in business with notable experience in working with both large corporates and SMBs.
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- (English, Portuguese & Italian subs)
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