Using the mere exposure effect to retarget campaigns, risk compensation theory, social proof or using someone else's halo are just some of the ways marketers can influence purchasing decisions. Most of us like to believe that we’re inherently logical people, especially when it comes to purchasing decisions. However, we’re not computers. No matter how logical we try to be, emotion always influences our decisions to some extent. Psychologists refer to these emotional factors in our decision-making processes as “cognitive biases.” Without even realizing it, we make most of our decisions based on these emotional biases and build our logical arguments for doing or buying something around justifying our emotions. This is good news for marketers. If you understand how cognitive biases work and how to use them in your marketing, you can make people feel like you have a better product, service or company. Click Read More below for additional detail.
If you’re familiar with that song, it may be with you for a few days now—for that I’m very sorry. Someone put it in my head a few days ago while I was traveling, and it’s been stuck with me ever since.
You understand the message of the song though, right? An emerging technology coming along and rendering others obsolete. As we all know, things aren’t always so black and white—radio didn’t go away because of television, though people use it differently now than in the past. The way we consumed television programs prior to the widespread availability of high speed internet was very different than the way we view content today. Jerry Seinfeld and NBC used to own Thursday evenings at 9 pm—with Friends on before that at 8 and the fan base enjoyed their shows simultaneously around the timetable of the network (or you’d set up a VCR to record your show to watch later). I can’t believe I used to stay up that late!
Like Seinfeld, my marketing career developed exactly at the time when the “catalog” and “web” retail worlds collided, and many were quick to predict the end of catalogs. There were brands like Land’s End that acted swiftly to “cut the cord,” only to lead to disastrous results. The impact of mailing print has been debated to varying degrees ever since.
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