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Saturday, September 29, 2018

Using Confirmation Bias for Advantage

As someone with an engineering rather than a marketing background, I always thought confirmation bias was a bad thing.   But not necessarily.  Perhaps obvious ,  I see it my own post purchase behavior, and its useful!  And commonly done.  Good thought to have in your head:

“Aha, I Knew It!”, 3 Ways to Use the Confirmation Bias in Marketing    By Regan Yan in CustomerThink

Suppose you have spent your entire life believing that motorcyclists are unpredictable, careless and blasé. One afternoon, whilst driving home, you see a motorcycle rider moving erratically through traffic. Instead of thinking that this rider just happened to be in a hurry, it’s almost guaranteed that your first response would be “see, I knew that all motorcyclists don’t obey the road rules and are careless!”. This self-validation of your pre-existing bias is what’s commonly known as the confirmation bias.

In simple terms, the confirmation bias refers to our tendency to search for and interpret information that matches with our existing way of thinking.

Following the purchase of almost any product or service, as consumers, we like to be able to rationalise our purchases. Whether it’s a chocolate bar that is rationalised as being an acceptable part of “cheat day” or a new iPad because “we want the highest quality tablet on the market”, post-purchase rationalisation helps us to confirm and justify our purchases. This process helps consumers reconcile the significant emotional investment, thereby allowing them to conclude that their purchase was a reasonable and prudent decision. In fact, regardless of any product shortcomings, it’s extremely unlikely for consumers to admit to poor decision-making due to their confirmation bias.

As marketers, it’s our job to help consumers confirm and rationalise their decisions. By providing a range of mechanisms for confirmation such as surveys, reviews and testimonials, we can help consumers to confirm their choices and avoid a dreaded case of buyer’s remorse.

If you can provide enough outlets for customers to confirm their existing ideas and beliefs post-purchase, sales conversions will inevitably follow.  .... "

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