Hey, for people interested in this stuff, here's a thread about a change we made to running our facebook account:

I took Ogilvy's course on Behavioural Economics and Comsumer psychology.

Here are the 10 important theory's I learned from it which you'd be a fool to miss out on:

Loss aversion theory:

The negative psychological impact we feel from losing something is about twice as strong as the positive impact of gaining the same thing.

Finding ₹100$ would makes us happy
Losing ₹100$ would makes us 2X unhappy

Sentence Framing:

The way you frame your sentences is very important. Make them forget about the negative thing by reiterating something which might be positive. We have a stronger bias for things that sound positive.

10% chance of death Vs 90% chance of survival

Goal Gradient Hypothesis:

Humans are hardwired for instant gratification.
as people get closer to the reward, they speed their behavior. So, reward people sooner instead of later

eg: Don't make a goal of reading 52 books a year, make it 1 chapter per day.

Mental Anchoring:

It's the phenomenon where our decisions are heavily based on the 1st piece of information we receive, regardless of whether the information is relevant or not.

Make the first piece of information powerful.

I promised threads about recruiting for the next week. Here's the first one on referrals. In growth/marketing speak: referrals are your organic growth, inbound is your brand, and outbound/sourcing is your ad spend. You want to growth-hack your referrals. Here's how. 1/n

2/ Referrals (people on your team referring candidates into your recruiting pipeline) is great because it scales with your org size. They also convert higher since one of their friends is trying to convince them to join, plus they are generally not interviewing at many companies.

3/ The main disadvantage is that they tend to re-enforce your current team makeup. So if you have a diverse team, referrals will continue that diversity, but if you do not, you'll be entrenching your existing makeups which can have some real cons.

4/ A common tool for incentivizing referrals is the referral bonus (the coolest version of which is in equity IMO, although $ works well too), but I think you can do a lot more by leveraging process (referral parties) and culture (creating real pride about your referral culture).

5/ Referral parties are about making a game out of referrals by (virtually) locking 2+ teams in a room for 60 minutes and asking them them to go all out putting together a referral list. Here's how to do it.

Marketing, Content, & Audience

Clubhouse highlights from @Julian, @shl, @mkobach, & @tobydoyhowell:

When building an audience, optimize for 3 things:

Volume
➡ How many followers?

Affinity
➡ How much do they prefer your tweet to the same one from someone else?

Recursive power
➡ How influential are your followers toward your goals?

Here's how to do marketing:

People follow to be entertained.

Entertain people & remind them that you exist.

You'll be top of mind when they want to sell an e-book or are frustrated by a slow check-out.

Don't make marketing more complicated than it is.

Forget funnels.

@mkobach just wants @Fast to be present to more people & knows 2M > 1M.

@tobydoyhowell just wants people to see MB everywhere & realize that the Brew is inevitable

Fact: people are more relatable than brands

Building your company around a personal brand(s) is a competitive advantage.

@Fast encourages & even helps people to build their personal brands