Using Consumer Psychological Biases To Increase Sales

Using Behavioral Economics practices in your marketing campaigns to accelerate conversion

What you'll learn

Define the foundational concepts of Behavioral Economics

Identify the different biases that you can leverage to target your prospects and customers

Improve your conversions

Examine the various academic studies, which have proven how different biases influence our decisions

Explore various strategies for leveraging the biases in your marketing campaigns

Requirements

No

Description

Whether you are a marketer or a business owner/entrepreneur, your aim is to sell your products or services to your prospects:With clear messages about how their product is better than competition, andBy educating their prospects the benefits of using their products or services.With each entrepreneur or marketer trying to do this in a competitive landscape, grabbing the attention of your prospects can be challenging. To do so, most marketers deploy strategies based on traditional marketing or economics. Most of these strategies discount the emotional or psychological aspect of decision making. This is the gap that Behavioral Economics aims to fill. Adopting strategies based on Behavioral Economics will enable you to leverage the various biases, which we humans trigger when we make decisions. So, we’ve designed this course to introduce you to the foundational concepts of Behavioral Economics and various biases. We will also explore the various academic studies, which have proven how different biases influence our decisions. In addition, in this course, we will explore various strategies for leveraging the biases in your marketing campaigns. The course also shares practical and well-tested strategies that you can implement across Business-to-Business (B2B) and Business-to-Consumer (B2C) domains. So, start your journey of improving the conversions in your marketing campaigns by enrolling and taking the course Using Consumer Psychological Biases to Increase Sales.

Overview

Section 1: Overview of the Need for using Behavioral Economics in Marketing

Lecture 1 Overview of the Need for using Behavioral Economics in Marketing

Section 2: The Framing Effect

Lecture 2 The Framing Effect

Section 3: Differences between Traditional Economics/Marketing and Behavioral Economics

Lecture 3 Differences between Traditional Economics/Marketing and Behavioral Economics

Section 4: Systems of Thinking

Lecture 4 Systems of Thinking

Section 5: Loss Aversion

Lecture 5 Loss Aversion

Section 6: The Anchoring Bias

Lecture 6 The Anchoring Bias

Section 7: The Bandwagon Bias

Lecture 7 The Bandwagon Bias

Section 8: The Choice Overload Bias

Lecture 8 The Choice Overload Bias

Section 9: The Mere Exposure Effect or the Familiarity Principle

Lecture 9 The Mere Exposure Effect or the Familiarity Principle

Section 10: The Endowment Bias

Lecture 10 The Endowment Bias

Section 11: The Sunk Cost Bias

Lecture 11 The Sunk Cost Bias

Section 12: The Status Quo Bias

Lecture 12 The Status Quo Bias

Section 13: The Ikea Effect

Lecture 13 The Ikea Effect

Section 14: The Halo Effect

Lecture 14 The Halo Effect

Section 15: The Serial Position Effect

Lecture 15 The Serial Position Effect

Section 16: The Optimism Bias

Lecture 16 The Optimism Bias

Section 17: Nudging

Lecture 17 Nudging

Section 18: Course Summary: Key Takeaways

Lecture 18 Course Summary: Key Takeaways

Entrepreneurs and Aspiring Entrepreneurs,Marketers,Fresh Management Graduates,Anyone who wants to implement Behavioral Economics-driven biases to drive sales and marketing campaigns