A 30-min talk about how we can benefit from behavioral economics in our marketing solutions. Specially for digital marketers and their practices.

1. A glance at
Behavioral Economics
& Marketing
Alireza Ranjbar Shourabi
@ARSHourabi

2. i Change behavior.
2
Hopefully for the better!
https://www.linkedin.com/in/alirezaranjbarshourabi/

3. Books you’ve surely read
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as Marketing Specialists

4. Basic definition
Behavioral
Economics
Cognitive, Social, and Emotional
influences on people’s observable
economics behavior.
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5. Marketers have been using the
principles of BE from the beginning!
Ironically, the discipline of marketing was started by economists!
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6. Econs vs. Humans
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System2 vs. System1

7. X% emotional & Y% rational
Economical Behaviors
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Consumer decision-making is not, in fact, just about availability of information.
“Ravi Dhar”

8. X% emotional & Y% rational
Economical Behaviors
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9. Focus Groups
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Let’s review some that you know of
Don’t rely on what people tell you.
Rely on what they actually DO.

10. Pareto Rule
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20% of your products, 80% of your income
What would you do with that 80%?
Let’s review some that you know of

11. Decoy Effect
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Let’s review some that you know of
We introduce products that no one buys.
To make our main product look Valuable.

12. Decoy Effect
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13. Choice Reduction
13
Let’s review some that you know of
Lower cognitive load and Mental fatigue
Magic number: 7 (+/-) 2

14. Choice Architecture
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Let’s review some that you know of
It’s almost everything we do!
Two of the most powerful words : Free & Because

15. picture of a
Motherly figure
known to activate achievement-oriented
goals.
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16. versus tile flooring
Concrete flooring
leads consumers to perceive that prices
are lower.
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17. Quality vs. Price
A matter of
backgrounds
A simple priming effect that can make
the visitor care for the price or quality.
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18. Nudge Marketing
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19. Booking.com
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20. Streak CRM
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21. Google Apps for work
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22. Let’s re-read these books
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as Marketing Specialists

23. Thank you!
Alireza Ranjbar Shourabi
@ARSHourabi