THIS
THIS HOLIDAY SEASON.
IT'S
IT'S SAFE
IT'S SAFE TO SAY MORE OF US WILL BE ONLINE SHOPPING THAN EVER BEFORE AND WHAT YOU MAY NOT KNOW
OR THE MIND TRICKS COMPANIES USE
TO GET YOU TO CLICK ADD TO CART
EVENINGS JIM DEVER TALK TO
BEHAVIORAL ECONOMISTS MOLINA
PALMER ABOUT WHAT YOU SHOULD
KNOW BEFORE YOU CHECK OUT.
WE HAVE ACTUALLY LIKE 99% OF THE
DECISIONS THAT WE MAKE ARE DONE
BY THE SUBCONSCIOUS BRAIN.
WE LIKE TO THINK THAT WE'RE
CONSCIOUSLY IN CHARGE OF
EVERYTHING THAT WE'RE DOING ALL
THE TIME, BUT REALLY I AM I
ABSOLUTELY YEAH JUST YOU THOUGH
AND SO OUR CONSCIOUS BRAIN IS
ACTUALLY USES UP TOO MUCH
ENERGY.
AND SO THE SUBCONSCIOUS HAS TO
USE RULES OF THUMB TO BE
EVALUATING CHOICES ALL THE TIME
AND IF YOU WERE TO THINK ABOUT
IT LIKE A COMPUTER YOUR
SUBCONSCIOUS THIS CAN BE
EVALUATING 11 MILLION BITS OF
INFORMATION PER SECOND COMPARED
TO YOUR CONSCIOUS WHICH CAN ONLY
DO ABOUT 40.
IT'S A REALLY BIG DIFFERENCE.
THAT'S ASTOUNDING SO OBVIOUSLY
THERE ARE TOO MANY THINGS FOR US
TO CONSCIOUSLY KEEP TRACK OF
RIGHT ARE GOING ON BEHIND THE
SCENES HELPING TO SHAPE OUR
DECISION MAKING PROCESS, RIGHT?
SO LIKE OKAY IF YOU GO ONLINE
FOR INSTANCE ONE OF THE THINGS
PEOPLE ARE SO INFLUENCED BY IS
THE LITTLE BLINKING WORDS THAT
SAY ALMOST GONE OR LAST DAY FOR
OFFER OR OR GOD FORBID A
COUNTDOWN CLOCK, RIGHT?
IT'S HE HAD WHAT PART OF OUR
BRAIN IS THAT WORKING ON OR WHAT
PART OF OUR PERSONALITIES?
IS THAT WORKING ON?
YEAH, THAT'S DEFINITELY IT'S
PLAYING ON SCARCITY MINDSET THAT
WE THINK THAT WHEN SOMETHING IS
IN SHORT SUPPLY.
IT MUST BE VERY VALUABLE WHICH
YOU KNOW, SOMETIMES IS THE CASE
IT CAN ALSO IT SO PEOPLE.
AND WAY TOO MUCH ON A GRILLED
CHEESE SANDWICH ON EBAY THAT
MAYBE LOOKS LIKE A DEITY OF
SORTS, BUT WE ALSO WHEN WE GET
THOSE TIME CLOCKS, THEY INSTILL
A SENSE OF TIME PRESSURE, WHICH
IS A FORM OF STRESS AND THE
BRAIN YOU DON'T WANT TO MISS OUT
ON THIS DEAL.
EVERYBODY ELSE MUST BE DOING IT.
WE'RE HURTING SPECIES YOU FEEL
LIKE YOU NEED TO TAKE ACTION.
AND SO WHEN WE HAVE THOSE SORTS
OF TRIGGERS WERE VERY LOSS OF
VERSE FOMO IS REAL AND SO WE
WANT TO JUMP ON THAT AND TAKE
ADVANTAGE OF THE OFFER SO THAT
WE DON'T MISS OUT.
THAT'S SOMETHING THAT'S ABOUT
THAT SCHLOSSER.
THAT'S LOSS AVERSION IS HOW YOU
WOULD PUT IT RIGHT YOUR BUSINESS
THE SENSE THAT I'M GOING TO BE
THE ONLY ONE WITHOUT THIS
INCREDIBLE THING, RIGHT FOR IT,
MAYBE YES.
YES BECAUSE WE ARE HURTING AND
YOU WORRIED THAT EVERYONE ELSE
IS DOING IT.
YOU DON'T WANT TO MISS OUT.
WHAT IS SOCIAL PROOF SOCIAL
PROOF.
IS THAT EXAMPLE OF THE WAY THAT
YOU WOULD USE HURTING AND SO
SHOWING ONLINE REVIEWS FIVE
THOUSAND OTHER PEOPLE HAVE DONE
THIS THING JOIN THE MILLIONS.
OF OTHERS WHO DO THAT
TESTIMONIALS REVIEWS THAT IS
TRIGGERING ARE HERDING INSTINCT
BY SHOWING US THAT OTHER PEOPLE
HAVE THEN FOLLOWING THE PACK
FOLLOWING THE HERD AND ANCHORING
THAT TERM REFERS TO WHAT SO YEAH
ANCHORING IS WHEN WE'RE LOOKING
AT BIG NUMBERS AND HOW THEY CAN
IMPACT THE DECISIONS THAT WE
MAKE SO WHEN YOUR SUBCONSCIOUS
WILL TAG ONTO A BIG NUMBER THAT
IT SEES AND MOVE UP OR DOWN FROM
THERE IN THE CASE OF IF YOU WERE
IN A GROCERY STORE YOU SEE AN
OFFERING ONLINE THAT IT SAYS
SOMETHING IS 10 FOR $10.
WE WILL BUY MORE THAN THEN WHEN
IT'S LISTED AT $1 EACH, EVEN IF
IT'S THE SAME, YOU KNOW, AND YOU
COULD ONLY GET ONE OR WHATEVER
THAT HAPPENS TO BE OUR BRAIN
SEES THAT NUMBER 10 AND THEN
MOVES ITS WAY DOWN FROM THAT
NUMBER.
WE ALSO WHEN THINGS ARE ON A
LIMIT, SO IF YOU SAY THERE'S NO
THE SALE ON SOUP OR WHATEVER
YOU'RE LOOKING TO BUY FOR
HOLIDAY GIFTS AND THEY HAVE A
LIMIT OF 12 YOU WILL BUY MORE
THAN IF THERE'S NO LIMIT STATED
BECAUSE IT PUT THAT NUMBER IN
THE MEAN ISN'T THAT SO
INTERESTING?
AND YOU KNOW, WHAT DOES GET ME
ALL THE TIME THOSE LITTLE TIME
CLOCKS THEY WERE TALKING ABOUT
YOU'VE GOT 30 MINUTES LEFT