Un clásico ejemplo para ilustrar este sesgo cognitivo es el paradigma del taxista del economista estadounidense Colin F. Camerer. He is the co-author of Amazon.com bestselling book: "Conversion Optimization: The Art and Science of Converting Visitors into Customers." With notifications for cart abandonment, you can reach out for your customers to recover items they were interested in buying. Gains are reinforced under the CTA, as “Congratulations – You get free shipping!” again in green. For example, manufacturers of books, washing machines etc. In marketing, loss aversion tactics create the illusion of giving potential buyers something of value – something they can comprehend losing. Solo hace falta echar un vistazo a los típicos reclamos publicitarios: Tal escasez de tiempo o productos, llamadas apremiantes a la acción y cuentas atrás o plazos son algunos de los principios efectivos del marketing que se asocian con la aversión a la pérdida. And, in the years s… Amazon, for instance, displays a small countdown clock for deals of the day: Scarcity is also a fundamental feature for framing loss aversion. Loss Aversion Marketing Language . The control variation, with no effects on, performed poorly for conversions, time on page, and all the other metrics. They framed their referral program as “Get more space:”. Loss aversion accounts for negative changes having a higher psychological impact than positive changes. La definición de la aversión a la pérdida deja patente una cosa: este sesgo cognitivo influye tremendamente sobre el marketing y las disciplinas colindantes. Journal of the experimental analysis of behavior, 89, 145-155; Tversky, A. Referral programs come in many forms, usually offering irresistible compensations in exchange for word-of-mouth marketing. Buyers saw the mug as a gain, so they attributed a lower value to it, as they were cautious in not losing money either. The answer is in how you frame your offers. DiscountHockey.com offers hockey gear and apparel at reduced prices, as you can see in one of their product pages: How does Discount Hockey reinforce the discount? Goins has already used this strategy for selling his previous book, “The Art of Work,” which he sold 14000 copies in pre-orders. The upshot of this review is that current In this case, we worked on streamlining the wording and adjusting the incentive so it was clearer for visitors the benefits of subscribing to the program. By receiving a free product or sample service, prospects become owners. When tested among other cognitive biases on an e-commerce platform, loss aversion outperformed the counterparts, reaching the highest increase in conversions and the highest mean scores for maximizing page views, as Daugirdas Jankus found out in his research at the ISM University of Management and Economics. “Clearance – Save 58%” is declared in bold. Como cliente o empresario, cada día haces frente a sesgos cognitivos que influyen, distorsionan y transforman tu percepción, tu pensamiento y tus recuerdos y juicios. The other guy sometimes offered three grapes, or just one grape. Naturally, we avoid going through any losses, but our brains have mysterious ways of averting losses and falling into risky situations. Do you know any another loss aversion strategy? So far, we talked about loss aversion acting upon decisions on financial and health matters. No one wanted to sell their mugs for less than $7.12, while the buyers evaluated the mugs and established $2.87 as the maximum they would pay for acquiring them. ¿Quieres animar a tus clientes potenciales a comprar tus productos? Te contamos en qué consiste este sesgo cognitivo y cómo puedes tenerlo en cuenta para conseguir mejores resultados. Quarterly Journal of Economics 106, 1039-1061. Monkeys treat losses as more important than gains, just as we feel losses more intensely than we feel the gains. Science describes the experiment that shows just how strongly a human behaviour will change if the feeling of loss is introduced (you can also read more about it in Dean Buonamano’s book, Brain Bugs: How the Brain’s Flaws Shape Our Lives .) The discount appears twice, in colors that match the CTA button, with different wording, “Pickup Discount” and “Save an extra $0.80” Free shipping, as a gain, comes in black. Let’s see how this cognitive bias helps people take action when a life-threatening disease is involved. blog feed to have future articles delivered to your feed reader. The first is that you have made him want something so badly that of his own volition he reaches out for your order card to get it. You’re giving them the concept of a coupon or a discount for a limited period of time and threatening to take it away. By the end of the time frame, customers will lose all benefits, as those countdown clocks alarmingly indicate on landing pages. Urgency plays a crucial role in inciting loss aversion, as it sets the time frame for customers’ action. La aversión a la pérdida es un concepto tan amplio y trae consigo tantos aspectos que se peca de su uso en exceso. Brand ambassador programs also come in a vast range of formats. The meal is already reserved! Buyers didn’t think they were losing money if they spent $2.87. The scientists framed these bets differently, in terms of loss and gain. In the product page, you can see the “Save $50” in a contrasting color, that matches the CTA button. Live Better.” We can expect their site to be structured to convey this message. The first part of this article introduces and discusses the construct of loss aversion. The illusion of loss. Integrate losses (to intensify the strong feeling of sorrow). To better understand this correlation, let’s talk over a cup of coffee. Among the incentives these programs bring to participants, discounts and mutual partnership on marketing efforts are features the ambassadors would want to keep. So, gains on the left, losses on the right, close to price. On food alone, we overlook, on average, 200 decisions a day. They didn’t see the mug as something they already owned. The messaging tested by Jankus was meant to trigger different cognitive biases on visitors of a food delivery platform: You can see the messages above frame decisions in different perspectives. Once prospects establish the ownership, they do not want to lose the item, or sample service. For one week, in a website with an average of 21,000 weekly sessions, the biases were tested for page views, view time, page value, and conversions. You can see how different this program is from the rewards program we mentioned above. The monkeys were considering taking the risky action when comparing the choice to the immediate option. Finalmente constató que los profesionales con experiencia, como los taxistas, también se comportan de manera irracional en lo que respecta a la economía, dado que son personas que temen a la pérdida. When suffering from FOMO, people want to keep up with trends and other people’s activities. Yechiam, E., and Telpaz, A. You will notice that sometimes discounts belong to the website’s value proposition. Loss aversion is something that I see a lot in marketing campaigns. On another product page, you can check the consistency of the site. Igual de significativa es la importancia de este sesgo cognitivo en los campos del marketing y la psicología de ventas. This behavior is at work when we make choices that include both the possibility of a loss or gain. Do not miss a chance to order it! El hecho de evitar irracionalmente las pérdidas en escenarios inseguros tiene un sentido evolutivo y probablemente se remonte a los tiempos de la caza y la recolección. To use loss aversion as an ecommerce marketing technique, you can test offers that frame not buying something as a painful loss. Just frame your offers in terms of loss, instead of framing them in terms of gains. Loss aversion: el valor de la aversión a la pérdida en el marketing Tendemos a dar más importancia a una pérdida que una ganancia de la misma magnitud. They use repetition of terms, as “save” and “buy 1, get 1.” They state percentages and values of savings, as “$490.98 Available Savings.” They group the coupons in categories, so visitors can easily assess the discounts. Exclusive launches on VIP e-mail lists is a great strategy for using loss aversion on your behalf. By collecting points, customers have a new currency to exchange for products and services, so they can save their money. This means that you need to stop telling your prospects how amazing their lives would be … Segregate gains (since gain brings less intense feelings of joy, by segregating them, you make them stronger). And that creates loss aversion. The offer is specific, 58%, and definitive, with few items in stock (zero items in this case). VIP email lists bring together people who are already customers, who trust the brand, and are willing to spend money on your products and services. An easy way to implement the key insight of loss aversion theory is in your digital marketing. Orbitz uses repetition as well to reinforce the losses. 6 Top eCommerce KPIs You Should Monitor For Better Conversions. This was a safe loss. Remember to always A/B test your findings and hypothesis. La palabra clave en este contexto es la “irracionalidad”: durante mucho tiempo, reinó entre los economistas la idea de que el ser humano pensante económico (el llamado homo oeconomicus) actúa de forma racional y maximizando su utilidad. You will take a look as well at loss aversion outperforming other cognitive biases on increasing conversion rates for an e-commerce platform. Use loss aversion (in moderation) for your marketing. La aversión a la pérdida es un elemento central de la teoría prospectiva, desarrollada en 1979 por los psicólogos y economistas Daniel Kahneman y Amos Tversky. But studies have proven the tactic to be effective time and time again. (in press). While economics may lay down the foundational laws of supply and demand, marketing can use loss aversion to manipulate the variables and win big. Loss aversion refers to a highly profound cognitive distortion whose effects are omnipresent in marketing. Telling one… The not-so-hidden secret to employ this technique? Por lo tanto, jugar con la aversión a la pérdida de los clientes es una táctica útil en un momento puntual, pero no es una estrategia sofisticada a largo plazo. Loss aversion is a marketing superpower. But loss aversion drove the decision of one of the groups. Las inseguridades son las responsables de que se atribuya un valor superior a las posibles pérdidas derivadas de una decisión que a las potenciales ganancias. In the loss scenario, the monkeys started out receiving three grapes for one token. You can see they use the repetition for words as “rewards,” “perks,” and “benefits.” They clearly point out that you can “cash points for benefits.”. If we have nothing but gain £20, we will be very happy. Let’s start! You will find in this article three leading experiments on loss aversion. En 2002, se galardonó a ambos investigadores con el Premio Nobel por su trabajo común; en el caso de Tversky, fue un reconocimiento póstumo. Instead of getting one grape for one token, monkeys could get two, or three grapes. Indeed, they have, and marketers could see them before scientists named them. Camerer estudió la competencia que había entre los taxistas en la jungla de cemento que es la ciudad de Nueva York, analizando la inestabilidad de sus ingresos y jornadas laborales. If your goal is to inspire the fear of losing money, just tell your visitors they could be spending more to buy the same item or service. Routine Tasks. As it turns out, capuchin monkeys are loss avert, too. You will take a look as well at loss aversion outperforming other cognitive biases on increasing conversion rates for an e-commerce platform. Loss aversion is the reason we see phrases like “last chance” or “hurry” in marketing campaigns so often. Segregate small gains from larger losses. Investors, in special, fall prey to this bias, as they tend to view their investments under short-term lenses. The following are marketing methods that use loss aversion: discounts, coupons and rewards; free trials and product samples Instead, it launches a sneak peek three days prior to the release. Loss aversion is the tendency to prefer avoiding losses to acquiring equivalent gains. Along with loss aversion, Jankus tested the countdown effect, the bandwagon effect, the gain effect, and a control (no effect) variation. “Deal” appears seven times in the screen below, and “Save” appears five times: Coupons are a long-established tradition. If loss aversion showed up for this decision, buyers would have set much lower prices in comparison to choosers. The importance of this type of cognitive distortion is equally high in areas such as marketing and sales psychology. They play with customers’ loss aversion specially when they offer discounts or free benefits. With time, the scientists started to change the offers, which changed the value of each token. You can learn how the scientists created a non-human financial market in “A Monkey Economy as Irrational as Ours,” Laurie Santos’ TED Talk. Loss Aversion in Marketing and Business: For those of you who are regular readers of this blog, you’ll know that one of our most popular and most visited topics is that of consumer psychology and how we can utilise this in marketing – for good, not for evil! A continuación, te contamos qué implica el fenómeno de la aversión a la pérdida y por qué este efecto psicológico desempeña un papel tan importante en el marketing. Te presentamos... Ofrece un servicio fiable y de alto rendimiento a tus clientes con un pack hosting de IONOS. Loss aversion is common in cognitive psychology, decision theory, and behavioral economics. Sin embargo, el fenómeno de la loss aversion demuestra que las personas toman decisiones de manera irracional, sobre todo cuando entran en juego sus inseguridades. Studies show that loss aversion is twice as powerful psychologically as the acquisition of something. In fact, when employed correctly, loss aversion can inspire purchases and even create potential long-term brand commitment. Por ello, el efecto dotación puede emplearse en marketing de manera aislada o en combinación con la aversión a la pérdida. Ready? ¿Cómo funciona la aversión a la pérdida? Inspiring the fear of losing: a powerful technique since the 1930s. To cope with overflowing choices and prevent decision fatigue, we have ancestral mechanisms to help us reach faster decisions, based on our previous knowledge and interpretations of the world that surround us. Although that is not always how we process our decisions, especially when cognitive biases come into the picture. Este sesgo cognitivo, llamado aversión a la pérdida (en inglés loss aversion), forma parte de los grandes conocimientos psicológicos de la denominada economía conductual. Is it worthwhile to copy A/B tests? Sephora.com offers free samples the customers can choose to add to the basket, before checking out. For the first group, the content emphasized the gains of performing self-exams, while the second group received a negatively-framed brochure, highlighting the losses of not performing the self-exams. For example: Stop losing $75 a month on X—buy Y instead. In this live session, we will take a chew on this bone of contention. After creating and implementing some of these loss aversion strategies to your site (or all of them, if you are extremely bold! Ownership makes the sample more valuable, as the coffee mugs priced around $7.00. For saving money, free trials and samples loom large as customers’ favorites. 100percentpure.com has a rewards program called Purist Perks. And we are not alone. For social proof, which doubles as scarcity in their website, they indicate how many people have bought the item, by also warning “limited quantity available.”. But no! Discounthockey.com uses scarcity by informing the quantity of items in stock. If clients do not use the coupons in time, they risk losing money in purchases of the same items at a higher, regular price. Usar este sesgo cognitivo en el marketing es acertado e importante, siempre y cuando no se abuse de él, ya que cuanto más tiempo se somete a un cliente a la escasez y la presión de tiempo, más insensible se vuelve a ellas. ¿Piensas que los sujetos o muestras de un estudio pueden elegirse de forma totalmente imparcial? Two groups of patients received almost identical brochures on breast self-exam. And you will also find inspiration in 13 marketing strategies to trigger loss aversion online. Here’s everything you need to know about the principle of loss aversion, plus all other important principles and theories that can supercharge your marketing and influence people to buy your products or services. How to frame loss aversion on your offers? The riskier the context, the harder loss aversion plays upon our decision-making. At a starting point, you should conduct qualitative research and carry out an Analytics investigation. Human beings are far more loss-fearing than we are attuned to gain. Para no renunciar a un atributo (como la calidad del producto o su posesión), los clientes tendrán que adquirir dicho modelo. Be specific! The feeling of loss is way deeper and more intense than the joy of gaining. They play on loss aversion by offering discounts and bonuses, but also by providing early access to new items. If people price things they already have at 2x the value of something they stand to gain, you must adjust the framing of your offers to target this. Más de 700 nuevas terminaciones de dominio, Dominio con privacidad WHOIS incluido gratis, Crea fácilmente la página web de tu negocio, Múltiples diseños y gran variedad de plantillas, Crea tu propia tienda online rápidamente, La elección ideal para Apache, PHP y MySQL, Hosting dedicado en España: Windows o Linux, Cloud IaaS altamente escalable y configurable de manera individual, Análisis del rendimiento de tu página web, Comprueba gratis si tu sitio web está optimizada, Comprobar la autenticidad de un correo de IONOS. Groupon, for instance, employs many loss aversion strategies. Order your meal in [timer] and we will deliver it to you by [delivery time]! El comportamiento irracional de las personas en situaciones de incertidumbre que tan bien describe la aversión a la pérdida puede utilizarse como ventaja por parte de los profesionales del marketing. Exclusive launches celebrate this relationship and signal that customers shouldn’t miss the opportunity of acquiring the new goodies. This is old, classic incentive. These pros get discounts, the first benefit mentioned in the list below, but also a lot of marketing joint benefits. You can also check our case study on improving copy and location for discount and social proof. From paper to digital, e-retailers offer coupons on-site, newsletters, as well as in affiliate programs with deal websites or micro-influencers’ sites. They could not evaluate the general picture of receiving two grapes for one token, which was a gain already, when compared to the initial stage of one token buying one grape. An extreme example of successful free sampling comes from The Brazilian author Paulo Coelho. This reference might trick us, as it happened with the monkeys and their decisions on trying to get more grapes. Instead of framing a special offer as a present you are giving to your customers, frame this as … It slowly introduces the hoodie and tells the story behind the hoodie via its Facebook and Instagram channels, On launch day, Evy’s Tree sends out an email to its VIP email list letting everyone know the item is finally for sale and includes a link to a dedicated product landing page, Preorders are taken, with a delivery date somewhere between 2-4 weeks from the preorder date”. Scared by the possible losses, the second group indicated higher positive attitudes and behaviors related to the exams. There is scarcity, “only 7 left,” in black. Kahnemann y Tversky explicaron este temor a perder: las personas no valoran una inversión (por ejemplo, una casa, acciones o un producto) de acuerdo con el resultado final, sino más bien en relación con un llamado punto de referencia, que es, por lo general, el momento de la compra. With these two scenarios, scientists could show monkeys, as humans alike, avoid the certainty of loss and shoot for possible, uncertain wins. Prospect theory How do TheKrazyCouponLady.com and Coupons.com, for instance, advertise the deals? The customer needs to act fast to complete the purchase and not miss the opportunity of acquiring a product at a low price. But for years now, marketers have been using these words to trigger responses from buyers. Prospect theory also states the importance of how the situation changes from our current reference point. En combinación con el conocimiento de otros fenómenos, como el efecto ancla, el efecto halo o el efecto IKEA, se puede maximizar con relativa facilidad el éxito de algunas campañas de marketing a largo plazo.
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