PowerPoint Presentation

Ads Have No Effect On Me: How marketers can leverage cognitive biasesPresented by Annie Pettit, PhD FMRIA

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Ads have no effect on me

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BIAS

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Process fasterJudge fasterShop faster

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When you are aware of them, you can use themBut you can bring them into consciousnessUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousvUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconsciousUnconscious

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Social Biases

Memory Biases

Constituency biasHyperbolic discountingHindsight biasEgocentric biasHawthorne effectReminiscence bumpOutcome biasDecision making BiasesInterloper effectInterloper effectOmission biasIllusory correlationProbability BiasesReminiscence bumpConstituency biasIrrational escalationHalo effectIrrational escalationFalse memorySuggestibilityHerd instinctGamblers fallacyBarnum effectHindsight biasInterloper effectSelf serving bias

Normalcy biasNeglect of probabilityHyperbolic discountingObserver expectancy effectFalse memoryHawthorne effectMemory BiasesTelescoping effectOmission biasFalse consensus effectNeglect of probabilityNeglect of probabilitySelf serving biasIrrational escalationHindsightSelection biasSocial Bias effectMere exposure effectSelf serving bias

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HAEFFLOECTBias: Associate traits of one thing to an aspect of other thingsLesson: Run with the beliefs, dont fight the opposition

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BANDWEFFAGONECT

Bias: Tendency to do something because everyone else is

Lesson: If its your best feature, point out everyone else

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C$5000

A$30B$50

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A$8C$14B$10

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A$8C$14B$12

Cost: $6Profit: $2Cost: $12Profit: $2Cost: $8Profit: $4

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Bias: Avoid extreme choices because they attract risk

Lesson: Increase the profit on the middle item

COMPEFFROMISEECT

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Bugatti Veyron Jean Bugatti Edition ~$3 million

Only three available

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LOAVERSSSIONBias: People prefer to avoid loss over acquiring gainsLesson: Create FOMO

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Your Horoscope:

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CUSTOM FIT!

1234

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@LoveStatsBias: Tendency to accept vague statements as descriptive of themLesson: Always have a little something for everyone

BARNEFFUMECT

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IKEFFEAECThigh value onssemblee qualityBias: People place. objects they a regardless of th

Lesson: Create investment of time or effort

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ONLY 2% FAT

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.ONLY 1% FAT

.99% FAT FREE

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.99% FAT FREE$$$

@LoveStatsAvoid risk of 1% fatSeek risk f 99% fatfree37

I got 80% right!I got 20% wrong!

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Bias: Avoid risk with a positive frame and seek risk with a negative frameLesson: Switch the negative to find the positiveFRAMING

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Audiomason speakers are20,000% more eco-friendly than yours

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PooPourri https://www.youtube.com/watch?v=qFI_-kJ95vc

@LoveStatsBIZAREFFRENESSECTBias: Bizarre is better remembered than commonLesson: Diagnosticate or actualize a grody corporeality

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limit 6

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Bias: Overly influenced by the first piece of informationLesson: Normalize high usageANCHBIORINGASLimit 12 per person

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@LoveStatsINGRBIOUPASBias: Preferential treatment tomembers of their own group

Lesson: Capitalize on your similarities

IMarketing

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Bad!

When you dont know its happeningWhen it leads to the wrong decisionBIAS

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When you understand itWhen it makes your decision easierBIAS

@LoveStatsThank you!@LoveStats/AnniePettitca.linkedin.com/in/anniepettit

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