The most important skill you didn't learn in school:
Behavioral Psychology.
7 psychological hacks that are so effective customers will line up to pay you:
1/ Anchoring Bias
Users rely heavily on the first piece of information they see.
Actionable insight: Start with the highest first in your pricing.
Example: Tinder uses the highest price to influence our buying decision.
2/ Hick's Law
More options lead to harder decisions
Find an area where you have a lot of options and then try to reduce them.
Removing your header & footer nav in your checkout flow may lift your conversion rate by 28%.
Example: Instapage just has a primary call to action
3/ Nudge
Subtle hints can affect users' decisions.
Small cues or context changes can encourage users to make a certain decision without forcing them.
Actionable insight: Use harmless nudges to sell more.
Example: Amazon focuses 1/3 of the screen to push for subscriptions.
4/ Social proof with the recency effect
Users adapt their behaviors based on what others do.
Example: Basecamp shares how many folks signed last week.
5/ Positive Scarcity
People want more of those things they can have less of.
Uber Eats found the right angle: using a real limited resource (timing of deliveries), they are convincing new users to share the same restaurants as past users.
6/ Reduce Cognitive Load
Cognitive load is concerned with how much the brain can do at any one time.
Actional insight: Reduce friction for prospects.
Synthesis payment checkout flow had too much cognitive load. We moved to Typeform. It increased our conversion from 24% to 40%.
7/ Zeigarnik Effect
People remember incomplete tasks better than completed ones.
Duologin shows incomplete tasks to finish.
Actionable Insight: Use checklists, progress bar, and gamification to push to convert more customers.
That's all folks.
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Last year, we saw CPMs steadily increasing leading up to mid-November.
(Meta data aggregated from thousands of DTC companies using @varos_com)
This year is a bit different. So far, the reverse trend is true - CPMs are dropping.
But that's only true in some verticals & niches.
With performance fluctuating over the next few weeks, it's hard to tell if your results are due to your performance or the market trend.
The only way to know if your performance swings are due to you or the market is to use a tool like @varos_com where you can see how you compare in real time to others companies like yours.
Then, you can sleep easily. And if you see a spike, you'll know what's in your control.
1. Us vs them 2. Founder story 3. Before and after 4. three reasons why 5. Press release screenshot 6. Static Image with the core benefit 7. Problem - Agitation - Solution UGC
Example of each ad-types with the breakdown:
1. Us vs Them
It's easier to place yourself against a common enemy so that views immediately get it.
Here are some that have wor ked for me or on me.
2. Before & After
With paid social ads, you are selling a transformation.
What are you promising as a transformation? Make that an after image.