Nudging

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This session is about how you engage with your customer based on behaviour

We are diving into the realm of behavioural economics and exploring the art of nudging.  Brittany Zhang discusses Nudging strategies such as: 

• Defaults (utilise default settings to drive customer decisions)
• Anchoring (how consumers' inherent tendency is to use first piece of information they see)
• Framing (present choices in a way to emphasise certain aspects)
• Simplification (offer limited number of options)
• Feedback loops (provide customers with immediate feedback on their action)

Nudging is a concept from behavioural economics that involves subtly influencing people's decisions and behaviours without restricting their options or changing their incentives.  The aim of nudging is to guide individuals toward making choices that are in their best interests, while still respecting their freedom to choose.  Nudges often take advantage of cognitive biases and heuristics that influence human decision-making.

Examples of how this may apply to your business are building customer loyalty, increasing repeat purchases, promoting upsells and cross-sells

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