Buying Biases (Click round knobs to go deeper)

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Buying Biases (Click round knobs to go deeper) by Mind Map: Buying Biases  (Click round knobs to go deeper)

1. Curiosity Tendency

1.1. Open Loop

1.2. Curiosity Gap

1.3. Ambiguity

2. Classical Conditioning

2.1. Repetition

2.2. Triggering positive emotion

2.3. Priming

2.4. Anchoring

3. 1. Advertisement (Capture attention)

3.1. Contrast, Novelty & Surprise

3.1.1. Senses Sight Types Of Contrast Biases Sound Fast vs Slow Quiet vs Loud Low vs. High Location Direction Pitch Tonality Timbre Pauses Cadence Touch Location Smooth vs. Rough Hard vs. Soft Hot vs. Cold Size: Big vs Small Still vs Moving Light vs Heavy Taste Bitter vs. Sweet Hot vs. Cold Smell

3.1.2. Counterintuitive Ideas True vs. False Thought Was True, But Is False Thought Was False, But Is True Good vs Bad Thought Was Bad, But Is Good Thought Was Good, But Is Bad Crazy vs. Normal Possible vs Impossible Random Vs Ordered Specific vs General Taboo vs. Normal Under-Estimated vs. Over-Estimated Conflict vs Getting Along

3.1.3. Copywriting Before vs After (Product Impact) Hair Loss Example Weight Loss Example You vs Competitors (Differentiation) Now vs. Future (Product Impact)

3.1.4. Words $100 Words Trademark Ideas

3.2. Mere Exposure Effect

3.3. Authority Bias (Celebrity Effect)

3.3.1. Influence By Mere Association (Classical Conditioning)

3.3.2. Social Learning Theory

3.3.3. Halo Effect

3.4. Framing

3.4.1. Brand Bias

3.4.2. Metaphor

3.4.3. Brand

3.5. Amplification Effect

3.5.1. Hopes Power Achievement Affiliation Spirituality

3.5.2. Fears Power Achievement Affiliation Spirituality

4. 2. Funnel (Educate & build trust)

4.1. Narrative Bias (Storytelling)

4.1.1. Characters the customer can relate to

4.1.2. Plot of how the character gets what they want and avoids what they don't want

4.1.3. Narrative momentum

4.2. Reciprocity

4.2.1. Education Liking In-group Bias (Relability) Treating The Other Like A Friend Pratfall Effect (Vulnerability) Complimenting Your Audience Physical Attractiveness Mere Exposure Effect Authority Bias Blockbuster Effect

4.2.2. Free Trial Consistency & Commitment Foot in the door technique

5. 3. The Sale (Exchange product & money)

5.1. Pricing

5.1.1. Zero Cost

5.1.2. Investment Bias (Sunk Cost Bias)

5.1.3. Good Money After Bad (Irrational Escalation Bias)

5.1.4. Anchoring

5.1.5. Price Effect If you have a low price product, it might be worth explaining why it's less expensive

5.1.6. Pain Of Paying If your product is more expensive than others, take the time to explain why it is a premium product. SOLUTION: Bundling

5.1.7. Price Elasticity

5.1.8. Price Cliffs

5.1.9. Round Number Discounting

5.1.10. Magnitude Effect

5.1.11. Price Primacy

5.1.12. Mental Accounting

5.2. Social Proof

5.2.1. Types Testimonial Case Study Reviews & Ratings Featured Customer List Expert Review Referral Certification

5.2.2. Examples bartenders prime their tip jar with a few dollars Canned Laughter car manufacturers claim “the number 1 selling truck in America” “Our new toothbrush is recommended by 80% of dentists.”

5.2.3. Additives Quantity of other people Authority of other people Relatability of other people Quantified value

5.2.4. Related Biases Bandwagon Effect Belonging Bias In-Group Bias

5.3. Value Perception

5.3.1. Easy

5.3.2. Present Bias (Hyperbolic Discounting)

5.3.3. Tangible

5.3.4. Certainty Effect Ambiguity Aversion

5.3.5. Amplitude Bias

5.4. Serial Position Effect

5.5. Duration Heuristic

5.6. Status Quo Bias

5.6.1. Loss Aversion

5.6.2. Endowment Effect

5.6.3. IKEA Effect (Not-Invented-Here Syndrome)

5.7. Packaging

5.7.1. Expectancy Theory

5.7.2. Branding

5.8. Scarcity (Urgency)

5.8.1. Limited Availability

5.8.2. Time-Sensitivity (Deadline)

5.8.3. Differentiation From Competitors

5.9. Context Effect

5.9.1. Options Choice Overload Compromise Effect (Decoy Effect) SOLUTION: Offer a high-end product to make your previous high-end product seem lower price Relativity Bias SOLUTION: Try a “Not-So-Good” Decoy to Push Your Top Product

5.10. Cognitive Dissonance

5.10.1. FOMO

5.10.2. Sharing consequences of not taking action

5.10.3. Sharing downsides of existing approaches