Growth Hacking using behavioral economics, handouts
Growth Hacking Using Behavioral Economics
People experience normative pressures to reciprocate gestures and favors.
Examples: free content, inter-consumer offers, etc.
2. Choice overload
Despite being attracted to large choice sets, consumers actually dislike the
difficulty experienced when choosing.
Examples: restricted number of options, ‘smart’ systems for choice.
Consumer estimates and decisions often biased by an initial number/quantity,
even if it is irrelevant for the context.
Examples: limited quantities, multiple-unit pricing.
4. Loss aversion
People experience more pain when sacrificing than pleasure when gaining.
Examples: limited free trials, expiring offers.
5. Decoy effect
Plans or products that are clearly inferior to one option (but not another) can
shift preferences towards the superior option.
Examples: asymmetrical subscription plans.
6. Social proof
People often look to the behavior of others to understand normal behavior.
Examples: info about others’ consumption behavior, testimonials.
7. Scarcity heuristic
Limited quantities of items can drive preferences for that option.
Examples: information about product quantities, exclusive services,
Of the topics you applied, which do you think will be most successful at increasing conversion,
Using the list below, please indicate the techniques you used, and how you incorporated them.