4 time tested principles of psychology that will help you increase your conversion rates
Transcript of 4 time tested principles of psychology that will help you increase your conversion rates
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4 Time-Tested Principles of Psychology that Will Help You Increase Your Conversion Rates
By Khalid Saleh
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Psychology is the “secret sauce” of conversion rate optimization
You will persuade users better Your users will be happier andget better margins
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1. Loss Aversion Theory
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www.invespcro.com
Loss Aversion Theory
People will fight harder to prevent a loss than to gain a reward
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A free gift makescustomers feel like they scored a deal with their decision.
Tip
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Example: Free Shipping
A lack of free shipping is one of the biggest reasons for shopping cart abandonment
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Asos clearly mentions its free shipping policies right at the
center of its homepage
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2.FoMO (Fear of Missing Out)
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FoMO
Psychologists call this phenomenon Fear of Missing Out aka FoMO.
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www.invespcro.com
• Researchersput 10 cookies in one jar
• 2 of the same cookies into another jar.
Conditions
• Users rate the chocolate chip cookies.Task
• Higherratings to the cookies in two-cookie jar
Results
Study on scarctiy effect
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This shows people value items that come in limited quantities. “Act now while supplies last” is a great way to persuade customers.
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Make it look like customers might lose out if they buy the product right away
Tip
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Example
Winewoot makes user of time limits to encourage purchases
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Users might think that since there are only limited rooms left, they are missing out on an exciting deal.
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3. Instant Satisfaction
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The brain lights up when people picture instant rewards.
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Several Magnetic Resonance Imaging (MRI) studies have shown that our frontal cortex – the part of the brain responsible for reward and attention – is highly active when we think of waiting for something.
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TipUse words like
• Now
• Fast
• Immediate
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People look for trigger words
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Assure customers that you will give them what they want as quickly as possible.
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4. Principle of Reciprocity
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We want to give back to people when they do us a favor
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Tips increased 3 percent when customers were offered after-dinner mints
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But when the waiters were asked to pause, look at the customers and tell them the mint was specially for them – tips went up by 20 percent!
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Offer something
to your visitors for
free so that they
feel indebted to
you.Tip
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MrPorter.com started out as a fashion magazine.Turned out an e-commerce store. Still publishes some of the best men’s lifestyle content online
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Baxtton magazine sharesinteresting products and gadgetsand now offers readers aselection of products featured on the blog
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Understanding user psychology is your superpowerto increase CRO
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About the author
Khalid Saleh is an Amazon.com best-selling author, speaker, and co-founder of Invesp a
conversion optimization company.
Khalid is an in-demand speaker who has presented at such industry events as SMX, SES,
PubCon, Emetrics, Conversion Conference, ACCM and DMA, among others. A regular guest on
TV shows at the BBC, CCTV, and DpnTV and quoted in publications including Internet Retailer,
California Executive and Chicago Sun-Times, Saleh has more than 13 years’ experience in e-
commerce architecture, design and implementation. His work has helped generated an
average of 65% improvement in conversion rates for Invesp’s customers.
A pioneer in digital marketing and conversion rate optimization, Khalid is also a co-founder of
the first all in one conversion optimization software, FigPii; a software by marketers, for
marketers.
Follow Khalid
@khalidh
khalidhajsaleh