Using psychology principles, marketers can increase online and in-store conversions. The fear of loss and paradox of choice affect buying decisions. Providing too many options makes purchase less likely. Imagery is more memorable than text. Social proof from reviews and urgency also influence purchases. Mapping the customer experience and making shopping fun can engage influencers and convert more browsers into buyers in both digital and physical retail environments.
13. Paradox of choice
(less is more)
Customers given too many choices are
10x less likely to buy
Iyengar: When choice is demotivating
14. Why? Decision paralysis
1. We end up making poor decisions
2. We’re more dissatisfied with our choices
3. We become paralysed and don’t choose at
all.