What's your name?
Conventional wisdom and operations theory suggests that the longer people wait, the less satisfied they become; we demonstrate that due to what we term the labor illusion, when websites engage in operational transparency by signaling that they are exerting effort, people can actually prefer websites with longer waits to those that return instantaneous results—even when those results are identical. Source.
allows people to attain satisfaction with their specialness. Daniel R. Ames and Sheena S. Iyengar reveal that the perceptions of uniqueness are partly constructed and susceptible to framing. This means the marketer can help enhance that feeling for the shopper. (Paper)
This is what the shopper feels when buying from a site they’ve never bought from before. This is why in your Google Analytics you see that 20% of engaged users clicked the Add to Cart button but only 1.4% ended up buying. The rest (20% – 1.4%) didn’t buy because they were feeling some form of purchase anxiety. Do you know how I know this is solvable? Because if the buyer wasn’t in the market for your product they wouldn’t have come this far, if your price was totally ridiculous the buyer wouldn’t be hanging out on your cart page. What this means is that there is a small hesitation the buyer is having and the marketer needs to guess it and address it.
Status Quo Bias
Is defined as a person’s innate preference for not doing something different from what they’re doing today. Over the years, a number of psychological studies have shown that when faced with a decision, the majority of people tend to stick with their status quo. So while you may think you are losing sales to an annoying competitor, in reality, you’re losing out to the shopper not taking any action at all. In Chapter 2 we’ll show how you can connect with this shopper.
Two-sided messages are communications in which a source integrates both positive and negative sides about a product while favoring one side to persuade the audience. Source.
If you are looking for a more research-based description read this: What’s in a frame anyway?: A meta-cognitive analysis of the impact of one versus two-sided message framing on attitude certainty
Classic Two-Sided Message Example
A Canadian Cough syrup brand uses this line: It tastes awful. And it works.
This article by Miguel Ferreira has another two-sided message example: Two-sided messages: they sound stupid. And they work
Now that we’ve seen a few buyer psychology terms let’s look at how these apply to how shoppers behave online. That’s covered here.