Whenever a monetary amount is considered, it’s drawn as a comparison between at least two things. Therefore, when we’re looking at a price, we’re really considering and comparing the value the item brings comparatively.

If your product is more expensive than competitors, you might want to explain the value like Rolex and Jack Daniel’s – by explaining the time, effort and skill it takes to create something you can tap into the customer’s value biases.

Make sure your brand shows its real value – listen to this episode so you can bring clarity to your value.

Don’t miss out on your copy of Fabricx’s Behavioural Bias Framework https://fabricx.agency/

Connect with us!

Instagram: @fabricxlabs

LinkedIn: https://www.linkedin.com/company/fabricxagency

LinkedIn: https://www.linkedin.com/in/si-elliott/

Research related to this episode:

• https://academic.oup.com/jcr/article-abstract/31/4/806/1812957
• https://insidebe.com/articles/increase-value-of-your-product/
• https://www.hbs.edu/faculty/Pages/item.aspx?num=40158

Social biases are some of the most powerful, easily recognised and commonly used strategies in marketing.

Listen to see how brands such as Amazon, eBay and Bose leverage the biases in the social category to appeal to the masses.

If people seek to be associated with groups and herds, why not build their desire to be part of your group?

Don’t be the only one that misses out on ways to leverage social biases.

Thanks for listening. Don’t miss out on your copy of Fabricx’s Behavioural Bias Framework https://fabricx.agency/

Connect with us!

Instagram: @fabricxlabs

LinkedIn: https://www.linkedin.com/company/fabricxagency

LinkedIn: https://www.linkedin.com/in/si-elliott/

Research related to this episode:

• https://www.verywellmind.com/how-herd-mentality-explains-our-behavior-7487018

Do you often ask the question: is this the easiest possible way to achieve the desired outcome?

In this episode, we discuss multiple ways to simplify and improve experiences, with examples from big brands that excel at this.

People are constantly overloaded with decisions – around 35,000+ per day! This means that your marketing needs to be as simple as possible so we can make decisions easy for our customers. While planning out your customer experience and each individual interaction, take time to consider whether it is as simple as possible.

Thanks for listening. Don’t miss out on your copy of Fabricx’s Behavioural Bias Framework:

Connect with us!

Instagram: @fabricxlabs

LinkedIn: https://www.linkedin.com/company/fabricxagency

LinkedIn: https://www.linkedin.com/in/si-elliott/

Research related to this episode:

• https://www.nature.com/articles/s41599-023-01542-z
• https://www.investopedia.com/terms/h/heuristics.asp#:~:text=A%20heuristic%20is%20a%20mental,or%20solutions%20to%20complex%20problems

Power of free:

• https://newristics.com/heuristics-biases/power-of-free
• https://vikramgoyal2012.medium.com/lessons-from-predictably-irrational-by-dan-ariely-e10eaad14b70