using neuromarketing to accelerate growth e-commerce - mirko melcher

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

    Using Neuromarketing to accelerate Growth in eCommerce

    eTrade Summit Antwerp 2016

    /mirkomelcher

    http://www.web-arts.com

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

    I live here...

    http://www.web-arts.com

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

    Here are 3 things I love:

    charts quotes

    ...

    screenshots

    http://www.web-arts.com

  • what we do

    Strategy & Consulting

    Testing Full Service

    360 Conversion Analysis

    Conversion Centered Relaunch

    Personalization & Targeting

    portfolio and knowledge:

    web-arts.com // konversionKRAFT.de

    http://konversionkraft.de

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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.

  • >150 Conversion Experts in >20 countries

  • https://www.iridion.de/en/

    Manage Your Optimization Process for Better Results

  • Warm Up!

  • 7 required fields9 required fields

    Which one is easier to complete?

  • 7 required fields9 required fields

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

    Even the best usability doesnt make people suddenly want to buy more.

    http://www.web-arts.com

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

    http://www.web-arts.com

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

    Traffic

    Web Analytics

    the eCommerce paradox

    http://www.web-arts.com

  • 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

    http://www.web-arts.com

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

    http://www.web-arts.com

  • 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

    http://www.web-arts.com

  • 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 Zugehrigkeit

    http://www.web-arts.com

  • 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

    http://www.web-arts.com

  • there are 2 giants who do it right lets learn from them, shall we?

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

    People want instant gratification. RIGHT NOW.

    http://www.web-arts.com

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

    http://www.web-arts.com

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

    You wanna buy from me? Pay 40 upfront.

    http://www.web-arts.com

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

    74% Conversion Rate

    http://www.web-arts.com

  • 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

    http://www.web-arts.com

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

    Top 10 E-Commerce Ventures Germany 2014

    No Accident!

    http://www.web-arts.com

  • 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.

    http://www.web-arts.com

  • vs.

    HRS Booking.com

  • 2013

    Psychologically Engineered Growth

    HRS Booking.com

    1972

    online revenue per year

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

    a genius idea

    Unlocking

    Reward

    http://www.web-arts.com

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

    http://www.web-arts.com

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

    Mirko

    Mirko

    http://www.web-arts.com

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

    Mirko Melcher

    Mirko Melcher

    http://www.web-arts.com

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

    Mirko

    mirko.melcher@web-arts.com

    Melcher

    Mirko Melcher

    mirko.melcher@web-arts.com

    http://www.web-arts.com

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

    The Asch Elevator Experiment, 1962

    http://www.web-arts.com

  • Mirko Melcher