Perhaps a better title for this video would be How Our Cognitive Biases Influence The Way People Make Buying Decisions And How As Marketers Can Work With Those Biases. Watch 15 Psychological Marketing Triggers to MAKE PEOPLE BUY From YOU! on YouTube

  1. The Halo Effect — The halo effect is a cognitive bias where our first impressions influence the way we interpret further information about things or people. This is why a great company with a shoddy website will struggle to sell more online than a shoddy company with a great website.
  2. The Serial Position Effect — The serial position effect explains how people interpret the first and last pieces of info in a list as being more important and remember them more clearly.
  3. The Recency Effect — The recency effect is a cognitive bias in which those items, ideas, or arguments that came last are remembered more clearly than those that came first.
  4. The Mere Exposure Effect — Otherwise known as the familiarity principle, the mere exposure effect explains why people are more likely to buy from brands they know well. This is why it’s much easier for Adidas to sell running shoes than a new manufacturer, regardless of product quality.
  5. The Loss Aversion Effect — Loss aversion describes how we fear loss considerably more than we value gaining something of the same worth.
  6. The Compromise Effect — The compromise effect argues a consumer is more likely to choose the middle option in a product set over more extreme options.
  7. The Anchoring Effect — The anchoring effect is the tendency to rely too much on the first piece of information presented when making a judgment or comparison.
  8. The Choice Overload Effect — Choice overload describes how, when given more options to choose from, people tend to have a harder time deciding, are less satisfied with their choice, and are more likely to experience regret.
  9. The Framing Effect — The framing effect is the tendency to be influenced by the way information is presented, rather than by the information itself.
  10. The Ikea Effect — The IKEA effect is a cognitive bias that helps explains why people place higher value on things they helped to build or create.
  11. The Pygmalion Effect —The Pygmalion effect describes situations where someone’s high expectations improves our behavior and therefore our performance in a given area. It suggests that we do better when more is expected of us.
  12. Confirmation Bias — Confirmation bias is where people seek, interpret and remember information in a way that confirms their existing ideas.
  13. The Peltzman Effect — According to the Peltzman Effect, when safety measures are implemented, people’s risk perception decreases, and so people may make riskier decisions.
  14. Bandwagon Effect — The bandwagon effect helps explain why people queue up for days to buy an iPhone they don’t need. Or why people sign up for pension plans when they could just as easily (and more securely) save that money for themselves.
  15. Blind Spot Bias — Blind Spot Bias is the tendency to see oneself as less biased than other people, or to be able to identify more cognitive biases in others than in oneself.

Watch 15 Psychological Marketing Triggers to MAKE PEOPLE BUY From YOU! on YouTube