Introduction to Behavioral Economics & Consumer Psychology

In this sample from Masterclass, you will learn about some of the most startling and paradoxical insights in consumer psychology and behavioral economics for increasing conversions. You will gain a comprehensive understanding of how to employ three of the most powerful psychological principles to boost your company performance. It's jam-packed with helpful hints, interesting facts, and even anecdotes to keep learning interesting, and guess what? It is much easier to remember this way. Your professors? RORY SUTHERLAND, SAM TATAM, MATEJ SUCHA, and a VERY SPECIAL surprise visitor are among the greatest specialists in the subject. The topics they will cover are:

• Introduction to the Behavioral Economics & Consumer Psychology
• The practical use of Behavioral Economics in business, marketing activities, and shaping better solutions for your customers
• Fascinating examples of the use of psychology and behavioral economics in Marketing (by Rory Sutherland)
• A few simple tricks that business owners can use to justify a higher price.
• The power and danger of Choice Overload (by Sam Tatam)
• Mind-blowing case study by Ogilvy for KFC with the aim to increase sales of potato chips (by Sam Tatam)
• A beautiful illustration of the power of behavioral insights - unexpected results achieved by a simple direct mail campaign from another case study for a charity organization in the UK (by Rory Sutherland)

To get the most out of the Masterclass, first, watch the video and then read the corresponding eBook. It's full of additional case studies and examples which will help you grasp every nuance of the principle.

What you will learn:

• The nitty-gritty of the 3 of the most powerful psychological principles (Loss aversion, Fairness, Choice overload)
• Different ways of how to apply each of them into your ads, landing pages, emails, sales funnels, and everything in between
• Dos and don’ts for each principle, (especially what to beware of so that you don’t sound gimmicky)
• How to reframe your message to get your foot in the door
• How to present your offer in a way that makes people click
• How to come up with solutions and ideas you otherwise wouldn't think of but have the potential to change your world forever

Udemy rating: 4.5/5.0

Enroll here: udemy.com/course/behavioral-economics-consumer-psychology-in-marketing/