GAME OF BEHAVIOURAL ECONOMICS
5 STEPS TO END THE “MARKETING WINTER”
5 KEY TAKEAWAYS:
USING BEHAVIOURAL ECONOMICS
FOR BETTER CUSTOMER ACQUISITION & BETTER CUSTOMER EXPERIENCE
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1 UNSYSTEMATIC BE INTRO:
BUILDING EMPATHY: ”More” is still not good enough
OVERRIDING CHOICE: How to ‘nudge’ your customer?
DESIGNING CHOICE: For an enhanced experiences
BE NO MAGIC SOLUTION
2
3
4
5
BEHAVIORAL ECONOMICS
BETTER CUSTOMER ACQUISITION & CUSTOMER EXPERIENCE
Awareness Familiarity Consideration Purchase Loyalty
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TRADITIONAL DECISION-MAKING
JOURNEY
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START
HERE New customer Consider Buy
Advocate Experience
Bond
Evaluate
McKinsey CDJ: 2009
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START
HERE Consider
Buy Advocate
Experience
Bond
Evaluate
McKinsey CDJ: 2015
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History
2009
2015
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1 UNSYSTEMATIC BE INTRO:
BUILDING EMPATHY: ”More” is still not good enough
OVERRIDING CHOICE: How to ‘nudge’ your customer?
DESIGNING CHOICE: For an enhanced experiences
BE NO MAGIC SOLUTION
2
3
4
5
BEHAVIORAL ECONOMICS
BETTER CUSTOMER ACQUISITION & CUSTOMER EXPERIENCE
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In the fields of
observation
chance favors
only the
prepared mind.
– Louis Pasteur
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1 UNSYSTEMATIC BE INTRO:
BUILDING EMPATHY: ”More” is still not good enough
OVERRIDING CHOICE: How to ‘nudge’ your customer?
DESIGNING CHOICE: For an enhanced experiences
BE NO MAGIC SOLUTION
2
3
4
5
BEHAVIORAL ECONOMICS
BETTER CUSTOMER ACQUISITION & CUSTOMER EXPERIENCE
SIMPLIFY
EMOTIONS
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NUDGE FRAMEWORK
BUY 6 COFFEE’S
GET 7TH FREE
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GET 6 STAMPS TO CLAIM A FREE COFFEE
SIMPLIFY
EMOTIONS
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SIMPLIFYING VALUE EQUATION
GET 6 STAMPS TO CLAIM A FREE COFFEE
SIMPLIFY
EMOTIONS
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AROUSING EMOTION
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1 UNSYSTEMATIC BE INTRO:
BUILDING EMPATHY: ”More” is still not good enough
OVERRIDING CHOICE: How to ‘nudge’ your customer?
DESIGNING CHOICE: For an enhanced experiences
BE NO MAGIC SOLUTION
2
3
4
5
BEHAVIORAL ECONOMICS
BETTER CUSTOMER ACQUISITION & CUSTOMER EXPERIENCE
BREAK/COMMERCIAL
EN
JO
YM
EN
T
TIME
Continuous TV Show
Show + Commercial
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A 100% PARTICIPATIVE
MEETING
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HOW I QUIT SMOKING
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1 UNSYSTEMATIC BE INTRO:
BUILDING EMPATHY: ”More” is still not good enough
OVERRIDING CHOICE: How to ‘nudge’ your customer?
DESIGNING CHOICE: For an enhanced experiences
BE NO MAGIC SOLUTION
2
3
4
5
BEHAVIORAL ECONOMICS
BETTER CUSTOMER ACQUISITION & CUSTOMER EXPERIENCE
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CONSIDER
Emphatize 1
2
3
EVALUATE
CONSIDER
START
CLASSIC
JOURNEY
BOND ADVOCATE ENJOY BUY
THE CLASSIC
LOOP
THE LOYALTY
LOOP START
NEW
JOURNEY
Options to “Nudge” and “enhance” offer
Experiment
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SAMY.MARDOLKER@ ORCINTERNATIONAL.COM
Map your customer
journey.
Play LEGO
with us!
Heard of Emotional
Conjoint?