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VIDEO: Consumer Psychology Secrets To Supercharge Your Growth (Alex Chahin) (6)

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This is a summary of Alex Chahin's presentation from the first Ecommerce World online conference.


>> Download all the slides from this presentation <<


Notes from matuloo: In his presentation, Alex goes over consumer psychology and how we can use it to our advantage in order to increase sales and revenue.





Alex works with the basic premise that human beings act irrationally, giving a basic example of people waiting in the lines instead of searching for a similar place nearby.

This behavior is something we can use and make our customers act in a way that helps our business.


Alex talks about 3 basic approaches that we as marketers can use :





Nudge them!


Instead of pushing the users hard into buying what we want them to buy, let’s just make it a bit easier for them to choose what we want to sell.





For example, by placing healthy foods “in front” and placing the unhealthy ones behind the counter, one company was able to increase healthy food sales by 78%.





Persuade them!


Alex mentioned 4 major factors here: Scarcity, Authority, Social Proof, Reciprocity.





Most of us are using some of these, maybe even without realizing it.

For example: 150 people are online now, join our 10000 subscribers or 500 items sold already… that’s all social proof elements.





Get them talking!


Alex explains the principles for word of mouth, specifically 3 of them:





Social currency: People talk about what makes them look good, make those things part of your campaigns.

Triggers: Try to associate your products with some routine. Examples: Diamonds and wedding, KitKat and coffee break, Beer and weekend.

Emotions: Alex talks about different types of emotions, some fall in the “high arousal” and some in the “low arousal” category.



There are several great examples in the presentation.





>> Download all the slides from this presentation <<


Watch speeches LIVE at the next Ecom World!

Tickets on sale now: https://ecomworldconference.com/

An option to include full replays from the past events is available too.

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The point about Scarcity, Authority, Social Proof is spot on.

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Definitely inspiring stuff. Thank you so much for sharing this!

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Glad you found it useful! This is just the start - we'll be uploading LOTS more in the upcoming days.



Amy

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Thanks, we are still trying to finetune the format for this content, there are MANY more speeches that we can sum up this way. If you have any suggestions, please drop them

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I've just posted the actual video replay of the presentation, you can see it at the very beginning of the opening post.

These videos have been provided by the iStack Conferences team as a special bonus to our members.

We will be posting MANY more in the coming days and weeks

Enjoy!

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