4 Time-Tested Principles of Psychology that Will Help You Increase Your Conversion Rates

By Khalid Saleh

Psychology is the “secret sauce” of conversion rate optimization

You will persuade users better Your users will be happier andget better margins

1. Loss Aversion Theory

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Loss Aversion Theory

People will fight harder to prevent a loss than to gain a reward

A free gift makescustomers feel like they scored a deal with their decision.

Tip

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Example: Free Shipping

A lack of free shipping is one of the biggest reasons for shopping cart abandonment

Asos clearly mentions its free shipping policies right at the

center of its homepage

2.FoMO (Fear of Missing Out)

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FoMO

Psychologists call this phenomenon Fear of Missing Out aka FoMO.

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• Researchersput 10 cookies in one jar

• 2 of the same cookies into another jar.

Conditions

• Users rate the chocolate chip cookies.Task

• Higherratings to the cookies in two-cookie jar

Results

Study on scarctiy effect

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This shows people value items that come in limited quantities. “Act now while supplies last” is a great way to persuade customers.

Make it look like customers might lose out if they buy the product right away

Tip

Example

Winewoot makes user of time limits to encourage purchases

Users might think that since there are only limited rooms left, they are missing out on an exciting deal.

3. Instant Satisfaction

The brain lights up when people picture instant rewards.

Several Magnetic Resonance Imaging (MRI) studies have shown that our frontal cortex – the part of the brain responsible for reward and attention – is highly active when we think of waiting for something.

TipUse words like

• Now

• Fast

• Immediate

People look for trigger words

Assure customers that you will give them what they want as quickly as possible.

4. Principle of Reciprocity

We want to give back to people when they do us a favor

Tips increased 3 percent when customers were offered after-dinner mints

But when the waiters were asked to pause, look at the customers and tell them the mint was specially for them – tips went up by 20 percent!

Offer something

to your visitors for

free so that they

feel indebted to

you.Tip

MrPorter.com started out as a fashion magazine.Turned out an e-commerce store. Still publishes some of the best men’s lifestyle content online

Baxtton magazine sharesinteresting products and gadgetsand now offers readers aselection of products featured on the blog

Understanding user psychology is your superpowerto increase CRO

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About the author

Khalid Saleh is an Amazon.com best-selling author, speaker, and co-founder of Invesp a

conversion optimization company.

Khalid is an in-demand speaker who has presented at such industry events as SMX, SES,

PubCon, Emetrics, Conversion Conference, ACCM and DMA, among others. A regular guest on

TV shows at the BBC, CCTV, and DpnTV and quoted in publications including Internet Retailer,

California Executive and Chicago Sun-Times, Saleh has more than 13 years’ experience in e-

commerce architecture, design and implementation. His work has helped generated an

average of 65% improvement in conversion rates for Invesp’s customers.

A pioneer in digital marketing and conversion rate optimization, Khalid is also a co-founder of

the first all in one conversion optimization software, FigPii; a software by marketers, for

marketers.

Follow Khalid

@khalidh

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