Cognitive biases are systematic thinking errors that occur when people process and interpret information in the world around them, affecting their decision-making and judgment. It’s not necessarily something bad; it is something that makes us human.
There are some biases that are helpful to consider when you market your brand, product, or service:
The Authority Bias.
People tend to trust and follow the advice of experts and authorities. Therefore, highlight any expertise or qualifications that apply to your company, product, or service. Pinpoint what kind of experts align with your company’s ideals and with what your audience would like to receive.
The Scarcity Bias.
The rarer and more difficult a product is to obtain, the more valuable it is deemed by our brains.
Creating a sense of scarcity in some way is a clever and subtle way to increase audience engagement and actually spread word of mouth. Try using limited-time offers and scarcity tactics in your next marketing campaign.
The Bandwagon Effect.
Consumers are more likely to purchase something if they perceive that everyone else is buying it. This doesn’t mean that you should lie and pretend to have sales. You can use social proof such as testimonials and reviews in your marketing campaigns so that customers know that other people are buying what you offer and why.
The Reciprocity Bias.
People have a strong desire to repay actions taken by others. So make sure to have something valuable to offer for free in your marketing strategy. That way, people will receive something from you, feeling the impulse to return a favor. That favor could be translated to sales, sign-ups for your newsletter, a like, or a review.
The Halo Effect.
People tend to make holistic judgments based on one positive trait. So try to highlight the most striking aspects of your product or service on different platforms through your marketing campaigns.
Now that you know some of the best cognitive biases for sales, make sure to take advantage of them in an ethical way.
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Sources:
The Marketing Millennials (2022) 13 psychological biases (that people commonly fall for when they’re buying).
AQR. Reciprocity bias.
Investopedia (2022) What Is the Bandwagon Effect? Why People Follow the Crowd.
LinkedIn (2022) Scarcity Bias – What is it, and how can you use it in your marketing?
