As we get deeper into the summer months, we wanted to touch base with you, our audience, to keep you abreast of the latest development in our mini-project we’ve decided to call “iAcquire EDU”. You may remember from our introductory post that Josh and I (Tom) are putting together a video educational series to cover the basics of behavioral psychology and how it applies to us inbound marketers.
It turns out however that putting together a really rock solid course series takes time.
So to make sure we’re still constantly in touch we’ve made an effort to curate amazing research from the web and elsewhere on all things behavioral psychology. Our last post “Essential Behavioral Psychology for Inbound Marketers” was a great starter collection of books, posts, videos, and presentations on the topic and we highly encourage you to check it out.
Today however, we’re going to stick strictly to video content.
Video is a powerful medium and we thought it might be neat to challenge ourselves to dig through hours of video to find truly great content worth sharing with you.
The following videos all cover areas of human and consumer psychology and are split up into two areas, practical and theoretical. Take the time to go through them and let us know which ones you liked the most in the comments below.
How To Boost Conversions With This Social Proof
This video is pretty direct in addressing social proof and Vishen Lakhiani references some notable authors and studies in the field. He’s also a seasoned entrepreneur with plenty of experience making social proof work for his business. Unfortunately the tool he mentions isn’t live anymore but the information in the video is still worth watching.
Anchoring, with Daniel Kahneman (author of Thinking, Fast and Slow)
A short introduction to anchoring and it’s effect on our behavior. Anchoring is a very powerful cognitive bias that affects our decision making processes. While this video focuses on “price anchoring;” which is a powerful strategy for conversion rate optimization strategy, anchoring actually extends to all information we get. We tend to anchor on the first piece of information we receive about a subject, so strongly that it can cause errors in decision making long after we’ve learned the initial information was inaccurate or flawed.
Let us know if you can catch the subtle bit of anchoring at work in this recent Aveeno ad: http://www.youtube.com/watch?v=uc-SkyakIwM
The power of the white coat or about the white layer of trust
I wish I could have found a better example of this, but it will have to do.The power of subtle visuals cues on our behavior and decision making is intense. The White Coat Effect is probably most famous from Stanley Milgram’s experiment on the affect perceived authority on subject compliance, but it continues to be studied even today. Here’s some research showing how it affects the perception of doctors as being authoritative and trustworthy, and here’s an article showing how our perception of the owner of a coat affects our own self-perception when we wear it.
Rachel Botsman: The case for collaborative consumption
Sharing… it isn’t just for content anymore. Sharing is such a fundamental component of our social nature, and it’s changing the way the world works. How can we explore sharing in new and exciting ways?
What Consumers Want
This is a thought provoking exploration of what drives consumer behavior and how to position your brand in the modern economy.
If you don’t have time to watch, the advice can be distilled down pretty simply:
Authenticity is the new consumer sensibility.
Authentic Experience is the new good (as in product…)
Become an Experience Architect.
Example: As a commodity coffee is worth 3-5 cents per cup. Stick it on a shelf ground and packaged, it’s worth maybe 20 cents per cup as a good. Create an experience like Starbucks, and you can ask several dollars per cup… all for the same product.
Choice Happiness, and Spaghetti Sauce
Malcolm Gladwell is more storyteller than marketing mastermind, but he provides some great anecdotes about the paradox of consumer desire & cognition. Often consumers have no idea what they want until you give it them; an insight the late Steve Jobs was said to have repeated to his design team often.
This is one of the hidden benefits of observing consumer behavior and trends; being able to position yourself to fulfill latent or unmet needs and create entirely new markets for yourself.
If you market new products, or are interested in launching a start-up, be sure pay careful attention to the insights regarding coffee, and master the lesson of chunky spaghetti sauce.
Rory Sutherland: Life lessons from an ad man
I think we saved the best for last, but if you don’t have time to watch, here’s the short version: At a certain level of wealth, most problems are a problem of perception. If you did watch it… Contemplate the power of the potato.
So what did you think? Share your thoughts below in the comments section, and if you have any suggestions please send them our way. We’re very excited for the upcoming launch of iAcquire EDU and would love to hear your feedback.