15 Behavioural Economics Principles to increase Conversions

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This presentation demonstrates the value of understanding and using a variety of behavioural economics principles to achieve results in your digital marketing campaign.

This presentation demonstrates the value of understanding and using a variety of behavioural economics principles to achieve results in your digital marketing campaign.

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  • 1. 15 Behavioural Economics Principles toincrease ConversionsA4U Expo 2012http://twitter.com/kelvinnewmankelvin.newman@SiteVisibility.co.uk
  • 2. Strategy Director SiteVisibility A digital agency specialising inretail, travel and financial services
  • 3. Organiser BrightonSEOThe Free SEO Conference
  • 4. Co-Founder Clockwork TalentDecent Digital Recruitment
  • 5. Text Social Proof roblawton
  • 6. tendency of peopleassume the actions ofothers reflect correctbehaviour for a givensituation
  • 7. Text Loss Aversion Images_of_Money
  • 8. the disutility of giving upan object is greater thanthe utility associated withacquiring it
  • 9. Anchoring Text Alex Bellink
  • 10. the tendency to rely tooheavily, or "anchor," on apast reference or on onetrait or piece ofinformation when makingdecisions
  • 11. Text Choice Supportive Bias shawncampbell
  • 12. the tendency to rememberones choices as betterthan they actually were.
  • 13. Decoy EffectText ymorimo
  • 14. preferences change whenthere is a third option thatis asymmetricallydominated
  • 15. Text Distinction Bias cliff1066â„¢
  • 16. the tendency to view twooptions as more dissimilarwhen evaluating themsimultaneously than whenevaluating themseparately
  • 17. Experimenters Bias Text [F]oxymoron
  • 18. the tendency to believedata that agrees with theirexpectations and todisbelieve, discard, ordowngrade data thatappear to conflict withthose expectations
  • 19. FunctionalFixedness Text jamingray
  • 20. limits a person to using anobject only in the way it istraditionally used
  • 21. Hyperbolic DiscountingText Identity Photogr@phy
  • 22. the tendency for people tohave a strongerpreference for moreimmediate payoffsrelative to later payoffs,where the tendencyincreases the closer to thepresent both payoffs are
  • 23. KnowledgeBias Text Vox Efx
  • 24. the tendency of people tochoose the option theyknow best rather than thebest option
  • 25. Post PurchaseRationalisation Text preetamrai
  • 26. the tendency to persuadeoneself through rationalargument that a purchasewas a good value
  • 27. PsuedocertainityEffect Text matsuyuki
  • 28. the tendency to make risk-averse choices if theexpected outcome ispositive, but make risk-seeking choices to avoidnegative outcomes
  • 29. Zero RiskBias JD Hancock
  • 30. preference for reducing asmall risk to zero over agreater reduction in alarger risk
  • 31. Dunning-Kruger TextEffect
  • 32. tendency of unskilledindividuals suffer fromillusory superioritymistakenly rating theirability much higher thanaverage.
  • 33. FalseConsensus Text JD Hancock
  • 34. the tendency tooverestimate how muchother people agree withhim or her
  • 35. The slides will be onslideshare.net/kelvinnewmanYou can also follow me onTwittertwitter.com/kelvinnewman
  • 36. fin.