Hey there,
We are on Substack now, and the weekly newsletter is starting again!
In this week's edition, I wanted to talk about some common biases that can be used in marketing to help you gain more customers.
As humans, we all have biases that influence the way we think and make decisions. While some biases can be harmful, others can be used to your advantage as a marketer. Here are the top five biases that you can use to your advantage:
Social Proof - This bias refers to the idea that people are more likely to do something if they see other people doing it. For example, if a customer sees that your product has a lot of positive reviews from other people, they'll be more likely to buy it themselves
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Authority Bias - This bias refers to the idea that people are more likely to follow the advice or recommendations of someone in a position of authority. For example, if you have a well-known industry expert endorse your product, it will be more likely to sell.
Scarcity Bias - This bias refers to the idea that people are more likely to want something if they think it's scarce or in limited supply. For example, if you offer a limited-time discount on your product, people will be more likely to buy it before the offer expires.
Anchoring Bias - This bias refers to the idea that people are influenced by the first piece of information they receive. For example, if you show a customer a higher-priced product first and then a lower-priced one, they'll be more likely to perceive the lower-priced product as a better deal.
Reciprocity Bias - This bias refers to the idea that people are more likely to do something for you if you do something for them first. For example, if you give away a free sample of your product, customers will be more likely to buy it in the future.
I hope these examples give you some ideas for how you can use biases to your advantage in your marketing efforts. If you have any other favourites that you'd like to share, I'd love to hear about them!
Feel free to reply to this email and let me know what you think.