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.
Like the Mac vs. PC commercials or Miller Lite taking potshots at unmanly light beers. Our friends over at Copyblogger would assert that real publishers are self-hosted and that well-written content is the centerpiece of the Web. They back these claims by offering solutions that reinforce their assertions. Creating a unique selling proposition is as much about defining who your ideal customers are not as it is about defining who they are. They are loyal to what the company stands for. Customers adore their policy for donating a pair of shoes for each pair sold.
Take a look at Zappos: The research showed that TRUE dissenters have a meaningful impact when trying to persuade a majority group toward a different perspective. Research in this area has also shown that dissenters in a group can enhance creativity and problem-solving. For marketers, this offers a much less scandalous opportunity: Better yet, there is an even more powerful form available for business owners to use: In a study by psychologist Norbert Schwarz, he found that as little as 10 cents was enough to change the outlooks of participants who found the money by surprise, creating a more positive view of their day due to this small high-point.
While this study was conducted in , the implications remain the same: Schwarz succinctly summed up this phenomenon as: In another famous study from Influence, Dr. Robert Cialdini noted that subjects were prone to rate others as much more likable when they had simply bought them a can of soda. One of the best ways to employ this tactic to boost customer retention is to follow up with customers after they make their initial purchase with you.
Our resource 25 Ways to Thank Your Customers highlights a number of ways you can use surprise reciprocity. Reciprocity is a powerful force, but in a world where every business is trying to utilize it, you can stand out by surprising your customers.
This is an outstanding way to let them know you appreciate their business. Help Desk software - Customer Support Software. Analysis paralysis and consumer behavior 2. Embrace the power of internal labels 3. Understand the three types of buyers 4. Highlight strengths by admitting shortcomings 5. Use urgency the right way 6. Make their mind light up instantly 7. Establish a rival or enemy 8. Volume 45 Issue 3 October Initial Author Development Workshop In a continuing effort to help authors, the editors of the JCR are calling for submissions for consideration in the initial Author Development Workshop.
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Research firms may use a variety of methods to gather information and construct a complete profile of consumer behavior. Surveys and Questionairres Surveys and questionnaires differ in the amount.
This Course consists of two blocks: Marketing Research and Consumer Behavior. First, learners will see the tools and methods to be able to effectively conduct (or hire) and interpret marketing research.
To examine the content of consumer behavior literature, trace its evolution, and identify the main streams of research over time, a content analysis was first performed on the articles focusing on consumer behavior. 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.
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. Food Safety Surveys. The Food Safety Survey (FSS) is a nationally representative survey of consumers’ self-reported behaviors, knowledge, attitudes, and beliefs about food safety.