Neuromarketing Services

Loss Aversion Bias Triggers Buying Decisions

Why are so many potential customers slow in making decisions? How can you apply Neuromarketing to increase conversion? If you can convince potential customers that failing to act causes some sort of loss, they will make decisions faster.

Research shows that people absolutely hate losses, much more than they love gains.

Consumers respond positively to marketing messages which help them avoid losses. This fear of missing out affects the fast-thinking emotional part of the brain. This fear dates back to the time of early humans. For them losing an opportunity was a life or death situation.

Loss Aversion Bias Neuromarketing

A good example of the loss aversion cognitive bias is the Black Friday phenomenon. Retailers put highly sought-after merchandise on deep discount for a couple of days after Thanksgiving. Typically, they select a few very popular items and cut prices drastically. However, only a limited stock is available.

The limitations on stock and time activate people’s fear of losing an opportunity for huge savings.

This fear of loss drives customers to stores. Once there, they’re very likely to shop for other items. There are several ways businesses can trigger the loss aversion bias to increase sales:

Don’t Miss Using Neuromarketing to Boost Sales

Activating the fear of losing out is just one way to trigger buying decisions. Neuromarketing offers multiple techniques that can work together to increase sales, leads and revenues as much as 500%. Drawing insights from Neuroscience, Social Psychology and Behavioral Economics, Neuromarketing gives your business incredible power of persuasion. Businesses that focus on just one concept at a time miss out on the synergy of Neuromarketing that is applied across the board.

Our Neuromarketing firm gives you the maximum benefit of an integrated approach. We understand how to provide the subtle, but powerful, influences. Contact us today to get started using our proven competition-busting marketing power.

How Amazon Applies Loss Aversion Bias to Convert – Amazon has perfected its Neuromarketing techniques to increase its conversion rates. It triggers a wide range of cognitive biases to motivate action.
How Bandwagon Bias Affect Branding and Marketing – Why are our buying decisions shaped by invisible social influence? Why is social proof so persuasive?
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