Using Behavioral Economics, Psychology, and Neuroeconomics to Maximize Sales

http://www.shopify.com/blog/6563013-using-behavioral-economics-psychology-and-neuroeconomics-to-maximize-sales

by Ciotti • 14 years ago

61 13 14 years ago

My favorite behavioral economist is Dan Ariely - his TED talk "Are we in control of our decisions" is really valuable to entrepreneurs. Link here: http://www.ted.com/talks/dan_ariely_asks_are_we_in_control_o...

dmix• 14 years ago

There's also a good book called Subliminal that discusses the neuroscience of how our subconcious brain make decisions that we often believe we made ourselves.

http://www.amazon.com/Subliminal-Your-Unconscious-Rules-Beha...

mbesto• 14 years ago

I don't normally just make blanket comments for articles, but this article is spot on. Can't add much more to the conversation, other then, READ THIS.

adrianhoward• 14 years ago

If folk found this interesting I'd recommend they get hold of a copy of "Neuro Web Design: What Makes Them Click?" by Susan M. Weinschenk. It's not the most academic of books and a quick read (about 150 pages or so) - but it gives a bunch of high-level pointers to stuff that you can google around and dig into if you like.

allsop81843• 14 years ago

Yeah - I've read that. EXCELLENT book. You can get it here... http://www.amazon.com/Neuro-Web-Design-Makes-Click/dp/032160... (No I didn't put an Amazon affiliate code at the end) ;)

James_Henry22• 14 years ago

Why? You don't like making free money?

dschiptsov2• 14 years ago

These are so primitive and obvious manipulations, that most of target customers already evolved (learned by experience) to ignore them.

freshhawk2• 14 years ago

Got a source on that? My experience and the research disagree, these take advantage of lower level cognitive biases that are prevalent (or maybe universal) in human beings.

dschiptsov2• 14 years ago

Lots of people have even a habit of identifying such tricks. Others, like me, have an automated tendency to map them to the list of cognitive biases from Wikipedia - http://en.wikipedia.org/wiki/List_of_cognitive_biases - the thing that deserves to be printed and framed.

plancien• 14 years ago

Nice article ! One comment : on the "Selling Time Over Money" part, it seems to me that some business manage to do the opposite. Take Ikea, for instance. Typically you buy some furniture there, hoping to spend little money in exchange of giving up your sunday afternoon precious time. If you take into account the time spent assembling the furniture, with a reasonable hourly rate, some furnitures there are not so cheap anymore.

The Ikea business implies that sometimes we prefer money over time.

allsop81843• 14 years ago

That's a really good point, and I guess IKEA often uses their low prices in their advertising. Wal-Mart does the same.

Using Behavioral Economics, Psychology, and Neuroeconomics to Maximize Sales

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