Befriend your enemy | Nudge Newsletter π§
Praising a competitor won't harm your brand.After viewing a tweet where Kit Kat praised Twix: "Competitor or not, congrats on your 54 years in business! Even we can admitβTwix are delicious.β Participants were more inclined to purchase Kit Kat, while their preference for Twix remained steady. |
Commending competitors can elevate your brand's likability. Which is why I'll shout out my three favourite newsletters:
Subscribe to them allβthey're wonderful. β Cheers, Phill |
Nudge Newsletter
I spend 18 hours each week turning marketing psychology into readable newsletters.
The Anchoring Effect Read online Let's start with an experiment. Consider the following two calculations and attempt to guess the answer. Don't use a calculator, take 10 seconds, and make your guess. 1 x 2 x 3 x 4 x 5 x 6 x 7 x 8 = ? 8 x 7 x 6 x 5 x 4 x 3 x 2 x 1 = ? What did you guess? Were your guesses different? The average guess for the first sum is 512, for the second it's 2,250 (4x higher). Many of you will have figured out that the actual answer is exactly the same. It's 40,320 for...
The Psychology Of Smell Read online I've got a shameful secret. My mouth salivates when I walk past Subway. I know the food is dire, the lettuce is plastic, and the bread is like a sponge. Yet I can't help but feel an urge to go in. After reading ConsumerologyΒΉ, I think I've learnt why. The Psychology of Smell You'll smell a Subway before you see it. The yeasty, sweet, toasty smell is pumped out onto the street. And I think it's on purpose. Just looking at this image reminds me of the smell....
Losses Feel Worse Than Gains Read online Kahneman proved that "ππ°π΄π΄π¦π΄ π§π¦π¦π π΅πΈπͺπ€π¦ π’π΄ π±π’πͺπ―π§πΆπ π’π΄ π¦π²πΆπͺπ·π’ππ¦π―π΅ π¨π’πͺπ―π΄". So, Nationwide don't say:β "We've kept our Holloway store open. So you can keep banking in-person."They say:β "Santander is leaving Holloway. Maybe it's time you left Santander." It's the best ad I've seen in weeks because it concretely applies behavioural science. Highlighting what a customer will lose is often more persuasiveΒΉ than highlighting what they'll gain. Richard...