We’ve been taught to not say anything if we have nothing nice to say, so sometimes avoid talk of negativity.
Folks are more prone to act to avoid loss than seek gain so don’t be afraid to talk about dangers.
Over the last few weeks I've been sharing a series of behavioral tips that can be applied to everything from wealth management to marketing and everything in between.
I've compiled them all below in a thread:
We’ve been taught to not say anything if we have nothing nice to say, so sometimes avoid talk of negativity.
Folks are more prone to act to avoid loss than seek gain so don’t be afraid to talk about dangers.
Excessive information leads to decisional paralysis.
Shoppers were more likely to buy when fewer food samples were offered.
Keep meetings uniform in focus and simple.
People are far more likely to follow through on a behavior when they’ve chosen it. Holds true experimentally in everything from eating veggies to doctor satisfaction.
Give two equally attractive alternatives and let them choose.
JIF nailed this with “Choosey moms choose JIF.”
Who doesn’t want to be branded the kind of parent who is choosy about what they give their kids?!
Put folks in a box they want to be in.
Lots of decisions make people tired. Tired people make dumb decisions.
Folks make more irrational decisions (eg, just picking the first name) the further down an election ballot they get.
How can you streamline your process?
Folks tend to evaluate an experience based on the highest/lowest point and the ending.
Your conversations or client experience should have a defined peak and end strong.
The more salient we can make a concept (ie, the less abstract) the more likely people are to act.
Charity organizations do this by highlighting the stories of specific children or families in need.
Placing a strip of tape in grocery carts and asking shoppers to fill the space with fruits and veggies increased their consumption by 102%.
Tell people what other people are doing (if it’s good) and let social proof work.
People are wired to avoid extremes - cheapest or most expensive, biggest or smallest - and so we can impact a desired behavior by framing it at the midpoint.
WS sold more $275 bread machines after intro-ing a cheaper 1
People become inured to expected positives but love unexpected positives.
How can you exceed expectations?
How can you incorporate unexpected happiness into your process?
Be surprising to be memorable.
Food with a more descriptive label (“Belgian Black Forest double chocolate cake”) is perceived as more satisfying and delicious than food with simpler labels.
You being richly descriptive when positioning your offering?
Smokers who were tasked with convincing a friend to stop smoking were more likely to change their own attitudes as well.
Sometimes helping others first is an indirect route to helping ourselves.
Special K had a “What will you gain when you lose?” campaign that emphasized increased feelings of confidence rather than the sacrifice of dieting.
A lot of + behaviors (eg, saving money) are viewed as a loss, so focus on +
People are lazy so make what you want them to do the default option.
Many delivery sites pre-enter the tip amount rather than leaving it to the discretion of the customer.
How can you default to client-centric behavior?
Working for a distant outcome can be de-motivating. Immediate feedback helps folks press on.
A great example of this is the Toyota Prius, that gives it drivers an Eco Score out of 100 based on how earth friendly recent driving has been.
People really, really dislike ambiguity and taking unknown risks.
Some carmakers offered full refunds during the GFC for those who bought a car and then lost their job.
Doctors now provide detailed descriptions of what to expect in surgery.
We all know not to go grocery shopping when hungry and, sure enough, people ordering groceries online make healthier choices than those shopping in store.
Make decisions in a cool state and pre-commit to what’s right.
Credit cards are the most obvious example of this but even pre-cut and pre-washed vegetables are an example.
By removing the lost time attributable to cutting and washing veggies, people are more likely to eat healthy.
People are most likely to select the good/service they spend the most time with.
That means that packaging, web design, user friendliness and visual appeal all directly impact purchase behavior.
People don’t like to wait for good stuff so emphasize the positives that are happening today!
Eg, get $200 cash back when you sign up for ABC credit card.
What positives accrue to someone *today* when they do business with you?
More from Life
"I lied about my basic beliefs in order to keep a prestigious job. Now that it will be zero-cost to me, I have a few things to say."
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".
As a dean of a major academic institution, I could not have said this. But I will now. Requiring such statements in applications for appointments and promotions is an affront to academic freedom, and diminishes the true value of diversity, equity of inclusion by trivializing it. https://t.co/NfcI5VLODi
— Jeffrey Flier (@jflier) November 10, 2018
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".
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So it's now October 10, 2018 and....Rod Rosenstein is STILL not fired.
He's STILL in charge of the Mueller investigation.
He's STILL refusing to hand over the McCabe memos.
He's STILL holding up the declassification of the #SpyGate documents & their release to the public.
I love a good cover story.......
The guy had a face-to-face with El Grande Trumpo himself on Air Force One just 2 days ago. Inside just about the most secure SCIF in the world.
And Trump came out of AF1 and gave ol' Rod a big thumbs up!
And so we're right back to 'that dirty rat Rosenstein!' 2 days later.
At this point it's clear some members of Congress are either in on this and helping the cover story or they haven't got a clue and are out in the cold.
Note the conflicting stories about 'Rosenstein cancelled meeting with Congress on Oct 11!"
First, rumors surfaced of a scheduled meeting on Oct. 11 between Rosenstein & members of Congress, and Rosenstein just cancelled it.
He's STILL in charge of the Mueller investigation.
He's STILL refusing to hand over the McCabe memos.
He's STILL holding up the declassification of the #SpyGate documents & their release to the public.
I love a good cover story.......
The guy had a face-to-face with El Grande Trumpo himself on Air Force One just 2 days ago. Inside just about the most secure SCIF in the world.
And Trump came out of AF1 and gave ol' Rod a big thumbs up!
And so we're right back to 'that dirty rat Rosenstein!' 2 days later.
At this point it's clear some members of Congress are either in on this and helping the cover story or they haven't got a clue and are out in the cold.
Note the conflicting stories about 'Rosenstein cancelled meeting with Congress on Oct 11!"
First, rumors surfaced of a scheduled meeting on Oct. 11 between Rosenstein & members of Congress, and Rosenstein just cancelled it.
Rep. Andy Biggs and Rep. Matt Gaetz say DAG Rod Rosenstein cancelled an Oct. 11 appearance before the judiciary and oversight committees. They are now calling for a subpoena. pic.twitter.com/TknVHKjXtd
— Ivan Pentchoukov \U0001f1fa\U0001f1f8 (@IvanPentchoukov) October 10, 2018
