Neuroscience of Sales and Leadership Training Speaker

Relativity Bias – How the Brain Sees Numbers

The brain can’t process numbers without any context. Only when a number is compared to another, can we understand how big or small it is. This is because the brain is wired to detect contrast.

Try this thought experiment. You want a speaker. Looking through your Sunday newspaper ads, you see one advertised for $20 at a nearby retailer. Then, you see another ad for the identical speaker, but for only $5, a $15 discount. The store with the lower price is 20 miles away. Would you drive 20 miles to save $15? Researchers found that 80% of consumers would make the drive.

Relativity Bias Neuromarketing Sales

Now, think about shopping for a laptop computer. The nearby store has one you like for $1,000. The store that is 20 miles away offers the same model for $985, $15 cheaper. Would you make the 20-mile drive to save $15? Researchers found that 80% would not.

The value of the discount is relative to the total cost of the item. For the speaker, $15 was a 75% discount. For the computer, it was only a 1.5% discount.

Values, Discounts and Prices Are All Relative

95% of all consumer decisions are made quickly and unconsciously by the fast-thinking emotional brain. It is difficult for consumers to make an evaluation without a reference point to compare to. The fast-thinking mind sees the value by making a comparison to the reference which is the price of the speaker or the laptop.

In marketing, there are several ways you can use this relativity comparison tendency. They can influence consumers and trigger buying decisions:

Understanding Common Cognitive Tendencies Boosts Sales

The examples shown above are just some of the ways Neuromarketers can help online sales of products and services. The relativity bias is just one tool that can help you outsmart your competition. Often, more than one tendency in the brain to act quickly can be used at the same time. That amplifies the effect. A comprehensive Neuromarketing strategy, applied throughout your internet marketing will ensure your success. As the Midwest’s only Neuromarketing consulting firm that specializes in applying Neuroscience to Sales and Marketing, we can help you achieve your goals. Contact us to get the sales conversation started.

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