Behavioral Economics & Buyer Psychology- Choice Architecture

Name: Behavioral Economics & Buyer Psychology- Choice Architecture
Rating: 4.3 (9 reviews)

Sam Tatam will teach you how to present different alternatives and nudge customers to buy.

Created byMINDWORX Academy

Last updated 3/2022

English

What you'll learn

Understand is choice architecture, why it’s important, and get jaw-dropping examples of its power.
When we shop, we generally like everything to go as smoothly and as easily as possible. But sometimes a process that is too hassle-free can actually harm sales.
Salience might seem like a pretty straight-forward principle, but you’ll find that there’s more to making your product or service stand out.
You’ll learn how personalization, idiosyncratic fit, and salient feedback can help you gain a competitive advantage.
There is one more extra piece of content - a case study about habits creation presented by Matej Sucha - an expert in applying behavioral economics in business.

Course content

1 section • 5 lectures • 1h 17m total length

Introduction to Choice Architecture24:10
Meet Sam Tatam, behavioral strategy director at Ogilvy Consulting. Awarded strategist, psychologist, and advertising practitioner who develops interventions and shapes communication for some of the world’s most influential brands and organizations.
The Power of Friction15:23
Your customers like everything to go smoothly, but sometimes too smooth won't soothe, but rather make them scoot. You’ll find out why increasing friction for your customers can be a surprising goldmine.
The Importance of Salience18:09
The rules of Salience aren't new. It’s way more than just personalization, as there are interesting and specific ways we can unpack salience to influence decision making; you’ll befriend idiosyncratic fit and salient feedback.
There’s a way to make an already good deal even sweeter if you design it in a way that feels like it gives your target customer a relative advantage, compared to others. Sam and Uber could tell.
Defaults11:19
They allow us to make a decision without the need to invest too much effort into thinking; it’s a lead if you will.
We all know of businesses that use the opt-out defaults to make us agree with the terms and conditions or even accept a higher rate without us even realizing it until it's too late. Why you should steer clear of those?
Not only are these universally hated, but as you’ll learn they are also a missed opportunity. There is a way to cash in on all the benefits that making an active choice has. Find out how exactly.
Case study: Creating Healthy Habits8:03
It turns out that diabetes patients have a large portion of their health state in their own hands - by what they eat and how active they are. A simple piece of advice could then be “eat healthily and move a lot” but we all know that changing one’s behavior is far from easy.
That’s why in this project for a health insurance company we designed an elaborate behavior change strategy with new habit creation at its core.

Requirements

There are no course requirements or prerequisites for this course. What you'll need is a notebook or pen and paper to take notes.

Description

Choice architecture can influence what option your customers choose, or if they choose any option at all.

The course curriculum consists of the following lectures:

1. Introduction to choice architecture

Meet Sam Tatam, behavioral strategy director at Ogilvy Consulting. Awarded strategist, psychologist, and advertising practitioner. Sam explains what is choice architecture, why it’s important and gives jaw-dropping examples of its power.

2. The Power of Friction

Your customers like everything to go smoothly, but sometimes too smooth won't soothe, but rather make them scoot. You’ll find out why increasing friction for your customers can be a surprising goldmine.

3. The Importance of Salience

The rules of Salience aren't new. It’s way more than just personalization, as there are interesting and specific ways we can unpack salience to influence decision making; you’ll befriend idiosyncratic fit and salient feedback.
There’s a way to make an already good deal even sweeter if you design it in a way that feels like it gives your target customer a relative advantage, compared to others. Sam and Uber could tell.

4. Defaults

Defaults are very powerful for nudging customers towards making a certain choice. They allow us to make a decision without the need to invest too much effort into thinking about it. But with great power comes great responsibility. Using defaults in the right way so that your customers don’t feel like you’re limiting their agency, or power to make their own decisions, can be an art form, which Sam will explain to you in this part.

5. Case study: Creating Healthy Habits by Matej Sucha

It turns out that diabetes patients have a large portion of their health state in their own hands - by what they eat and how active they are. A simple piece of advice could then be “eat healthily and move a lot” but we all know that changing one’s behavior is far from easy.
That’s why in this project for a health insurance company we designed an elaborate behavior change strategy with new habit creation at its core.

Who this course is for:

The way the decision-making process is built, choices are presented and when you attract people’s attention is crucial. Therefore, this course is for anybody who wants to explore one of the most powerful ways to shape the consumer behavior — changing choice architecture.