Takeaways

  • Cognitive biases are present in everyone - once marketers understand the mechanism that feeds them, they can successfully implement nudges.

 

  • The use of nudges enables marketers to measurably improve performance while making small, quick and almost imperceptible changes in the positioning of their products.

The Game Episode 6: Nudge Thyself


13 August 2017
1:30

Watch our latest video of The Game, Episode 6: Nudge Thyself, you know you want to...

 

Nudges are small changes that you can make to the positioning or description of a product or service that provoke an immediate measurable change in performance.

 

These work in tandem with the vulnerability present in all of us caused by cognitive biases - defined as mistakes in cognitive processes (such as remembering or evaluating) that come as a result of our mental attachment to our preferences or beliefs.


“Improving your conversion rate effectively isn’t about luck or magic, it’s a science. Achieve this goal by using unique behavioural testing alongside the right combination of emotional language, psychology, cognitive nudges and creativity.”


One of the most mind-boggling nudges & cognitive biases out there was perfectly exemplified by Tom when he asked how many times you thought you could fold an A4 piece of paper. After stating that it is nearly impossible to fold it more than 7 times, he revealed that if you were to fold it 103 times, it would be almost as thick as the known Universe (27 folds would be as high as Mount Everest!).

 

This seems counter-intuitive for us, as the first value that we take into consideration is the thickness of the paper - which averages at 0.05 mm - and it is then hard for us to adjust to the possibility of folding the paper to such (literally) astronomical dimensions.


This is called anchoring and happens when we anchor ourselves to the first piece of information, then find it hard to adjust when others are presented. This can also work for price. For example, when you go into a shop, the first item you select will establish whether you think the next item you select is expensive or cheap. This implies that the information that individuals are first exposed to powerfully influences the mindset that they will have throughout the subsequent interaction with the brand.


Is this opportunity really something you can afford to miss out on? We think not. At Lab we have a codex of nudges and cognitive biases that we use, including Anchoring, Confidence Bias or Loss Aversion. If you want to find out more about nudges and how you can use them to maximise your potential, refuse to spend hundreds of pounds on intricate solutions, download our free whitepaper and let’s get in touch!



Takeaways

  • Cognitive biases are present in everyone - once marketers understand the mechanism that feeds them, they can successfully implement nudges.

 

  • The use of nudges enables marketers to measurably improve performance while making small, quick and almost imperceptible changes in the positioning of their products.

Meet the Author

  • Teodora Miscov
  • Marketing Executive

Following her passion for all things digital, Teodora moved to London with the goal of completing her BA in Digital Media Communications at the University of Westminster. Having just finished her formal education, she is now pursuing her career in the vibrant Soho as the Marketing Executive at Lab. Her interest for art and philosophy finds a release on her personal blog, which she has been running for six years. Catch up with Teodora on LinkedIn and Twitter.