Thread by @WrongsToWrite

Are you being manipulated?

Learn the psychology of persuasion.

10 cognitive biases that can make you money or take your money.

-Thread-

Your brain represents 2% of your total body weight.

But uses 20% of the body's energy.

To save energy, your brain comes up with mental shortcuts like cognitive bias.

Understanding bias will separates you from success and failure in business.

Here are 10 to look out for...

1. Anchoring Bias

The first piece of information you receive (the anchor) changes how future information is perceived.

Tip:

Showing a larger price first will make the following price seem small in relation.

2. Distinctiveness effect

You tend to remember odd things better.

Tip:

Use odd pictures to capture attention.

3. Framing Effect

The same information can be presented in different ways to influence different decisions.

Tip:

Frame your offer in a way that highlights the positives.

4. Bandwagon Effect

You're more likely to do something if many others have already.

Tip:

Show how many people have used your offer and use testimonials.

5. Mere Exposure Effect

The more you’re exposed to something, the more you like it.

Tip:

Produce valuable content consistently.

6. Scarcity Bias

You place more value on scarce things and less value on abundant things.

Tip:

Make your limited time/quantities known.

7. Priming

You’re unconsciously influenced by details hidden in plain sight.

Tip:

Use images correlated with how you want your brand to be perceived.

8. Authority Bias

You’re more easily influenced by authority figures.

Tip:

Find influencers in your niche and get endorsements from them.

9. Social Currency

You tend to share things making you look good to others.

Tip:

Affiliation: Create a sense of community.

Utility: Help people become more socially relevant.

Information: Give valuable information.

Identity: Give customers their own identity in a group.

10. Barnum Effect

General statements feel personalized and engaging to you when framed correctly.

Tip:

Use the words “You” and “Your” in your writing. Like how I’ve been talking to you this entire time ;)

The 10 cognitive biases used in marketing

1. Anchoring Bias
2. Distinctiveness
3. Framing Effect
4. Bandwagon Effect
5. Mere Exposure Effect
6. Scarcity Bias
7. Priming Effect
8. Authority Bias
9. Social Currency
10. Barnum Effect

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