Companies must leverage behavioural science to improve the effectiveness of their marketing efforts

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 28, 2019, 2:46 AM UTC

If brands identify why customers chose them, they could capture more customers.

This article argues that organisations must adopt behavioural science to make effective marketing strategies that are based on understanding consumers’ buying decisions. Knowing what behaviours and biases steer consumers towards or away from a business can help marketers identify opportunities to position their product or service.

There are several behavioural biases that influence consumers’ decisions, namely human tendencies to pick a default option, resorting to shortcuts that minimise mental effort, emotionally-driven choices and instant gratification. This information can help map consumer behaviour.

The author recommends businesses to extend their findings to new marketing campaigns and also to apply them to existing communication strategies. They can also tweak their message to enhance or moderate certain touchpoints or structure their pricing to uplift sales.

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[5 minute read]