using neuromarketing to accelerate growth e-commerce - mirko melcher

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© Mirko Melcher, Web Arts AG www.web-arts.com FRANKFURT - HAMBURG - MUNICH Using Neuromarketing to accelerate Growth in eCommerce eTrade Summit Antwerp 2016 /mirkomelcher

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Page 1: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Using Neuromarketing to accelerate Growth in eCommerce

eTrade Summit Antwerp 2016

/mirkomelcher

Page 2: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

I live here...

Page 3: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Here are 3 things I love:

charts quotes

„ ...“

screenshots

Page 4: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

what we do

Strategy & Consulting

Testing Full Service

360° Conversion Analysis

Conversion Centered Relaunch

Personalization & Targeting

portfolio and knowledge:

web-arts.com // konversionKRAFT.de

Page 5: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

0

2

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2009 2010 2011 2012 2013 2014

CRO Volume (Billion �)

Partner

E-Commerce

TelecommunicationPortal

Travel

Finance Leadgeneration

We help top 100 companys grow faster.

Page 6: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

>150 Conversion Experts in >20 countries

Page 7: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

https://www.iridion.de/en/

Manage Your Optimization Process for Better Results

Page 8: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

Warm Up!

Page 9: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

7 required fields9 required fields

Which one is easier to complete?

Page 10: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

7 required fields9 required fields

Page 11: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Even the best usability doesn‘t make people suddenly want to buy more.

Page 12: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 13: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Traffic

Web Analytics

the eCommerce paradox

Page 14: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

14

Traffic

Website

Web Analytics

ClickHand

Motor Control

prefrontal Cortex

Limbic System

Perception

the eCommerce paradox

Page 15: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 16: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Gamification

Decision

Simplification

How do I make decisions?

How do other people influence me?

Ho do I perceive things?

How do I react upon relations?

What gives me fun and joy?

What is as conveniant as possible?

Behavior Patterns & Biases Behavioral Economics for E-Commerce

Social Perception

Relation

Page 17: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Behavior Patterns

Adaptive Bias Affect Heuristic All-or-nothing thinking Anchoring Anxiety Aesthetic = Good Arousal Authenticity Authority Autonomy Availability Heuristics Banner Blindness Black swan theory Bonding Breaking Rules Caring Challenge Cognitive Dissonance Commitment & Consistency Comparability Completion Context Contrast effect Curiosity Curse of knowledge Decoy Effekt Default

Defensive attribution hypothesis Endowment Effect Exclusivity Faces/Views Feedback Flow Framing Free Funneling Grouping Halo Effect Herding Hide/Remove Hope Hyperbolic discounting Identification Illusion of asymmetric insight Illusion of truth effect Innerer Dialog Irrational Escalation Island Joy/Fun Known Kognitive Leichtigkeit Leaderboard Liking Logic

Loss Aversion Mastery Mental accounting Mental Models Mirror Nonsense math effect Order Order/Harmony Overgeneralization Paradox of choice Patterns/Principles Preview Primacy-Recency-Effekt Priming Proof Purpose Reactance/Censoring Reason why Reciprocity Remove Represantativeness heuristic Reputation Restraint bias Reward Rhyme-as-reason effect Rules Scarcity

Schuld Self expression Self fulfilling prophecy Self serving bias Self-perception theory Sensation Skim/Scan/Read Social Proof Sofortiges Erfolgserlebnis Spurring Status quo Story-telling Sympathie Tension/Closure Testimonial Testing effect Threat Trait ascription bias Trust Try out Tunneling Unlocking Value/UVP Well travelled road effect Worse-than-average effect Zugehörigkeit

Page 18: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Biases

Actor-observer bias Affective forecasting Ambiguity effect Attentional Attribute substitution Attribution theory Availability cascade Backfire effect Bandwagon effect Base rate fallacy Belief Bias Bias Blind Spot Bizarreness effect Change bias Choice Supportive Bias Clustering Illusion Cognitive bias mitigation Cognitive distortion Confirmation bias Congruence bias Conjunction fallacy Conservatism Consistency bias Context effect Cross-race effect Cryptomnesia Denomination effect Disqualifying the positive

Distinction bias Dunning-kruger effect Duration neglect Egocentric bias Emotional reasoning Empathy gap Essentialism Exaggerated expectation Expectation bias Extrinsic incentives bias False consensus effect False memory Focusing Effect Forer effect Functional fixedness Fundamental attribution error Gamblers fallacy Generation effect Google Effekt Hard-easy effect Heuristics in judgement and decision making Hostile media effect Hot-hand fallacy Humor effect Illusion of control Illusion of external agency Illusion of transparency

Illusion of validity Illusory correlation Illusory superiority Impact Bias impression management Inference-observation confusion Information Bias Ingroup bias Innumeracy Insensitivity to sample size Introspection illusion Jumping to conclusion bias Just-world hypothesis Less is better effect Leveling and sharpening List-length effect Ludic fallacy Magical thinking Magnification and minimization Mental filter Mere-exposure effekt Misattribution Misinformation effect Misinterpretations Modality effect Price illusion Mood-congruent memory bias Moral credential effect

Moral luck Naive cynicsm Naive realism Negativity bias Neglect of probability Next-in-line effect Normalcy bias Omission bias Opimism bias Osborn effect Ostrich effect Outcome bias Outgroup homogenity Overconfidence effect Pareidolia Part-list cueing effect Peak End Rule persistence Pessimism bias Picture superiority effect Planning fallacy Positivity bias Post-purchase rationalization Pro-innovation bias Projection bias Pseudocertainty effect Reactive devaluation Recency bias

Reminiscence bump Risk compensation Rosy retrospection Salience Selective perception Self-relevance effect Semmelweis reflex Social comparison bias Social desirability bias Somatic markers hypothesis Source confustion Stereotyping Subaddivity effect Subject validation Suggestibility Survivorship bias System Justification Telescoping effect Texas sharpshooter fallacy Time-saving bias Tip of the tongue phenomen Ultimate attribution error Unit bias Verbatim effect Von restorff effekt Zeigarnik effekt Zero-risk bias Zero-sum heuristic

Page 19: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

there are 2 giants who do it right let’s learn from them, shall we?

Page 20: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher
Page 21: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

People want instant gratification. RIGHT NOW.

Page 22: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher
Page 23: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 24: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

You wanna buy from me? Pay 40� upfront.

Page 25: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

74% Conversion Rate

Page 26: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

„If you double the number of

experiments you do per year you're going to double

your inventiveness“

Jeff Bezos, CEO amazon, 2004

Instant Gratifi-cation

Behavior Pattern #1

Commit-ment

Behavior Pattern #3

Con-venience

Behavior Pattern #2

Habit

Page 27: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Top 10 E-Commerce Ventures Germany 2014

No Accident!

Page 28: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

takeaway #1 Think about how you can make people commit to

your website over and over again.

Page 29: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

vs.

HRS Booking.com

Page 30: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

2013

Psychologically Engineered Growth

HRS Booking.com

1972

online revenue per year

Page 31: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

a genius idea

Unlocking

Reward

Page 32: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 33: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Mirko

Mirko

Page 34: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Mirko Melcher

Mirko Melcher

Page 35: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Mirko

[email protected]

Melcher

Mirko Melcher

[email protected]

Page 36: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

The Asch Elevator Experiment, 1962

Page 37: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

People behave based on other peoples behavior.

Page 38: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 39: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 40: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Scarcity

Herding

Page 41: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Scarcity

Herding

Herding

Social Proof

Page 42: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

HerdingHerding

Social Proof

Scarcity

Herding

Page 43: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Scarcity

Page 44: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Free

Zero Risk Bias

Page 45: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 46: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Free

Zero Risk Bias

Scarcity

Herding

Page 47: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 48: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

JUST F#%&ING DO IT

Page 49: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

2013

Psychologically Engineered Growth

HRS Booking.com

1972

online revenue per year

Positive Feedback

Behavior Pattern #1

Herding

Behavior Pattern #2

Scarcity

Behavior Pattern #3

Page 50: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Gamification

Decision

Simplification

How do I make decisions?

How do other people influence me?

Ho do I perceive things?

How do I react upon relations?

What gives me fun and joy?

What is as conveniant as possible?

Behavior Patterns Behavioral Economics for E-Commerce

Social Perception

Relation

Page 51: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher
Page 52: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Takeaway #2: Find out what’s the best combination of

behavior patterns for your business model and target audience

Page 53: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 54: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

+15,8% Conversions

+22,4% Revenue / Visitor

> 2000 conversions per variation

2 sales cycles test duration

Page 55: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 56: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 57: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Page 58: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Urgency

Page 59: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

nur noch 2 Stück verfügbarUrgency

Scarcity

+

Page 60: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

„If you can‘t describe what you are doing as a process, you don‘t know what you

are doing.“

William Edward Deming

Page 61: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Build Measure Learn

Page 62: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Build Measure LearnAnalyse

Find out, what motivates your customers

Build A/B-Tests that can really change behavior

Measure the impact Learn and scale!

Page 63: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Don‘t call it Conversion Rate Optimization.

Call it Growth Rate Optimization.

market dominance

Page 64: Using neuromarketing to accelerate growth e-commerce - Mirko Melcher

© Mirko Melcher, Web Arts AG www.web-arts.comFRANKFURT - HAMBURG - MUNICH

Mirko Melcher Head of Conversion Architecture Web Arts AG // konversionsKRAFT

[email protected]

/mirkomelcher

www.web-arts.com

Thank You!