insights that incite: tested and proven ways to activate buying intent
TRANSCRIPT
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Insights that Incite: Tested and Proven Ways to Activate Buying IntentTim RiestererChief Strategy Officer, Corporate Visions
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@TwitterHandle • #CMWorld
AGENDA
@TwitterHandle • #CMWorld
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Malcolm Gladwell
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Morton M. Grodzins
Scientist behind the Tipping Point
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What made the difference?
Gladwell Told a Better Story
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60% BEFORE SALESPERSON
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60
NO DECISION
%
60%
BEFORE SALESPERSON
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60
NO DECISION
%
60%
74%Create
Buying Vision
26%Competitive Bake-Off
BEFORE SALESPERSON
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60
NO DECISION
%
60%
74%Create
Buying Vision
26%Competitive Bake-Off
BEFORE SALESPERSON
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YOUR SOLUTION
Defeating the Status Quo Bias
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PreferenceStability
YOUR SOLUTION
De-stabilize their preferences
Defeating the Status Quo Bias
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PreferenceStability
YOUR SOLUTION
De-stabilize their preferences
Cost of Staying same
Cost of Action/ Change
Defeating the Status Quo Bias
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YOUR SOLUTION
Cost of Action/ Change
PreferenceStability
Selection Difficulty
De-stabilize their preferences
Cost of Staying same
Create enough Contrast
Defeating the Status Quo Bias
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PreferenceStability Anticipated
Regret /Blame
Cost of Action/ Change
Selection Difficulty
YOUR SOLUTION
Cost of Staying same
De-stabilize their preferences
Create enough Contrast
Before and after hero Story
Defeating the Status Quo Bias
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De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
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De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
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Identified
NEEDS
CAPABILITIESSpecified
Creating a Buying Vision
Commoditized Conversation
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWNSTRENGTHS
Commoditized Conversation
Creating a Buying Vision
+ COST +COMPLEXITY
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWNSTRENGTHS
Commoditized Conversation
Creating a Buying Vision
+ COST +COMPLEXITY
UNCONSIDEREDNEEDS
Urgency and UniquenessLIVES HERE
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Zakary Tormala, PhD
Persuasion and negotiations experts providing exclusive
research and collaboration on insights and concepts
Stanford University Graduate School of Business
Margaret Neale, PhD
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Condition 1 Respond to Stated Needs Condition 2 Value Added Services
Condition 3 Unconsidered Needs LAST Condition 4 Unconsidered Needs FIRST
n = 400
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PresentationUniqueness
2
3
4
5
6
Standard Solution
Value Added Solution
Unconsidered Needs Last
Unconsidered Needs First
Statistically Significant Uniqueness Improvement 50%
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PresentationQuality
5
6
7
8
9
Standard Solution
Value Added Solution
Unconsidered Needs Last
Unconsidered Needs First
Statistically Significant Quality Improvement 10+%
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PresentationPersuasiveness
4
5
6
7
8
StandardSolution
ValueAddedSolution
UnconsideredNeedsLast
UnconsideredNeedsFirst
Statistically Significant Persuasion Improvement (10+%)
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWNSTRENGTHS
Commoditized Conversation
Creating a Buying Vision
+ COST +COMPLEXITY
UNCONSIDEREDNEEDS
Urgency and UniquenessLIVES HERE
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De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
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De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
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GainLoss
Value
2-3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion”
Prefer taking risk that might mitigate a loss = “Risk Seeking”
Outcome
Prospect Theory
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Which would you choose?
A guaranteed gain of $75,000
An 80% chance of gaining $100,000 with a 20% chance of getting nothing
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A certain loss of $75,000
An 80% chance of losing $100,000 with a 20% chance of not losing anything
Which would you choose?
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When a man's an empty kettle, he should be on his mettle,
And yet I'm torn apart.
Just because I'm presumin' that I could be kind-a-human,
If I only had heart.
- Tin Man
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Plan ASave 1 out of 3 plants and 2,000 jobs
Plan B33% chance of savingall three plants/jobs66% chance of saving none of the plants/jobs
Status Quo framed as a “gain”
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Plan ASave 1 out of 3 plants and 2,000 jobs
Plan B33% chance of savingall three plants/jobs66% chance of saving none of the plants/jobs
Plan A2 out of 3 plants lostalong w/ 4,000 jobs
Plan B66% chance of losingall three plants/jobs33% chance of losingnone of the plants/jobs
Status Quo framed as a “gain” Status Quo framed as a “loss”
74%
26%
55%
45%
More than 70% increase in “persuadability”
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Plan ASave 1 out of 3 plants and 2,000 jobs
Plan B33% chance of savingall three plants/jobs66% chance of saving none of the plants/jobs
Plan A2 out of 3 plants lostalong w/ 4,000 jobs
Plan B66% chance of losingall three plants/jobs33% chance of losingnone of the plants/jobs
Status Quo framed as a “gain” Status Quo framed as a “loss”
74%
26%
55%
45%
More than 70% increase in “persuadability”
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GainLoss
Value
2-3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion”
Prefer taking risk that might mitigate a loss = “Risk Seeking”
Outcome
Prospect Theory
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De-Stabilize Preferences
INSIGHTS THAT INCITE…
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
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De-Stabilize Preferences
INSIGHTS THAT INCITE…
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 40: Insights that Incite: Tested and Proven Ways to Activate Buying Intent](https://reader031.vdocument.in/reader031/viewer/2022022203/5872b9ea1a28ab523c8b75ff/html5/thumbnails/40.jpg)
NeocortexDesigned for Analysis – rationale, logicalJustifies Decisions
Limbic System/AmygdalaDesigned for Survival – emotional, intuitive
Makes Decision for Change
Craves Contrast
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FUTURESTATE
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CURRENT STATE
FUTURESTATE
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What did we measure?
Purchase IntentInterest and likelihood of making a purchase
Attitudes and ChoiceWillingness to switch and willingness to pay more
AdvocacyLikely to tell others and recommend a new product
Product PerceptionsRepresents innovation and a clear improvement
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3
4
5
6
7
8
Future Only Current then Future (Same
Screen)
Current then Future
(Separate Screens)
Current and Future (Side by
Side)
+14.63%Interest and likelihood of
making a purchase
Purchase Intent
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3
4
5
6
7
8
FutureOnly CurrentthenFuture(Same
Screen)
CurrentthenFuture(Separate
Screens)
CurrentandFuture(Sideby
Side)
+14.06%Willingness to switch and willingness to pay more
Attitudes and Choice
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3
4
5
6
7
8
FutureOnly CurrentthenFuture(Same
Screen)
CurrentthenFuture(Separate
Screens)
CurrentandFuture(Sideby
Side)
+12.46% Likely to tell others and recommend a new product
Advocacy
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3
4
5
6
7
8
FutureOnly CurrentthenFuture(Same
Screen)
CurrentthenFuture(Separate
Screens)
CurrentandFuture(SidebySide)
+13.40%Represents innovation and
a clear improvement
Product Perceptions
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CURRENT STATE
FUTURESTATE
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De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
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De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 51: Insights that Incite: Tested and Proven Ways to Activate Buying Intent](https://reader031.vdocument.in/reader031/viewer/2022022203/5872b9ea1a28ab523c8b75ff/html5/thumbnails/51.jpg)
Who are you going to be?
Gladwell or Grodzins