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The Choice Factory

Richard Shotton

The Choice Factory

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18min

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With The Choice Factory we will dive into the world of advertising and the preconceptions that lead people to decide whether to buy one product instead of another. Richard Shotton investigates our behavior shaped by psychological shortcuts (biases), and explains how companies can strategically adapt their products and communication to these biases, thereby gaining a significant advantage over their competitors. It is a guide to stop listening only to what consumers are saying, and start seeing what they are doing.

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Analysis and key concepts

01.

Consumers use biases to make immediate decisions

02.

Which context works best for a brand?

03.

Look at how people behave, not what they say

04.

Why pay attention to the message?

05.

If the competitors go right, we go left

06.

How to persuade consumers to change their usual behavior

07.

"Relieve" the pain of payment

08.

Avoid asking to find out what consumers really want

09.

It is easier to capture the attention of the consumer during a happy moment

10.

How to change price perception

11.

The effective order to build communications

12.

Image and copy affect the perception of the product

13.

Negative opinions do not change

14.

Take advantage of the consumer's presumption

15.

For every situation there is a different approach

16.

Choosing the media context to favor interpretation

17.

When knowledge can be counterproductive

18.

Goodhart's law and the true purpose of advertising

19.

Know the Pratfall effect and increase the attractiveness of the product

20.

How to avoid the "winner's curse" when buying ad space

21.

Provoke a reaction in advertising

22.

Evaluate study results with due consideration

23.

Biases that work and those that don't

24.

The power of personalized advertising

25.

How to take advantage of the scarcity effect

26.

Quotes

27.

Take-home message

01. Consumers use biases to make immediate decisions

The book offers insight on how to apply the results of social psychology and behavioural science to advertising. The study of decision-making processes is a fundamental topic for advertisers as it offers an explanation as to why people buy a certain product. People do not have time to logically assess all the decisions they must face on a daily basis and they resort to the shortcuts of bias (prejudices, unconscious reactions) that allow decision-making to be immediate. Therefore, brands capable of adapting their own products and communication to these biases can have a significant advantage over their competitors.

02. Which context works best for a brand?

03. Look at how people behave, not what they say

04. Why pay attention to the message?

05. If the competitors go right, we go left

06. How to persuade consumers to change their usual behavior

07. "Relieve" the pain of payment

08. Avoid asking to find out what consumers really want

09. It is easier to capture the attention of the consumer during a happy moment

10. How to change price perception

11. The effective order to build communications

12. Image and copy affect the perception of the product

13. Negative opinions do not change

14. Take advantage of the consumer's presumption

15. For every situation there is a different approach

16. Choosing the media context to favor interpretation

17. When knowledge can be counterproductive

18. Goodhart's law and the true purpose of advertising

19. Know the Pratfall effect and increase the attractiveness of the product

20. How to avoid the "winner's curse" when buying ad space

21. Provoke a reaction in advertising

22. Evaluate study results with due consideration

23. Biases that work and those that don't

24. The power of personalized advertising

25. How to take advantage of the scarcity effect

26. Quotes

27. Take-home message

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Many useful tips to:

  • Apply the results of behavioral science to advertising and marketing.
  • Learn about the psychological mechanisms of our unconscious decisions.
  • Find out about studies and experiments that have confirmed or refuted hypotheses and theories.

Richard Shotton is the deputy director of Manning Gottlieb OMD, the most awarded multimedia media agency in the history of the IPA Effectiveness Awards. He started his career as a multimedia planner seventeen years ago, working with brands like Coca-Cola. After that, he devoted himself to research. His field of interest is the application of the results of social psychology and behavioural science to advertising. He writes for newspapers such as "The Drum", "Campaign", "WARC", "Admap" and "Mediatel".

Publishing house:

Harriman House

Year:

2018

Pages:

202

ISBN:

978-0857196095