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:
Behavioral tip: Emphasize losses to discourage an unwanted behavior.
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.
Behavioral tip: Keep it simple.
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.
Behavioral tip: Put the client in control.
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.
Behavioral tip: Make the desired behavior consistent with the user’s idealized identity.
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.