Title: 15 Psychological Studies That Will Boost Your Marketing
Headings: 15 Psychological Studies That Will Boost Your Social Media Marketing
15 Psychological Studies That Will Boost Your Social Media Marketing
15 Psychological Studies for Marketers to Know
1. The Endowment Effect
When we own something, we tend to value it more highly. If we have to sell it, we want more than it is really worth.
2. Reciprocity
We feel obliged to give back to people who have given to us.
3. Consistency Principle
We like to keep consistent what we think, say and do, and will change to ensure this is so.
4. The Foot-in-the-Door Method
When asked to make a small commitment first, we are more likely to agree to a larger request later.
5. Framing Effect
We react to a situation differently depending on whether we perceive the situation to be a loss or a gain.
6. Loss Aversion
We feel the negative effects of loss more strongly than we feel the positive effects of an equal gain.
7. Conformity and Social Influence
We change how we behave to be more like others.
8. Acquiescence Effect
We give answers based not just on a rational consideration of what is being asked but also in consideration of how we will appear to others.
9. Mere Exposure Theory
The more we’re exposed to something, the more we like it.
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10. Informational Social Influence
When we do not know how to behave, we copy other people.
11. The Decoy Effect
Consumers tend to change their preference between two options when a third, less attractive option is presented.
12. Availability Heuristic
When evaluating a specific topic, concept, method or decision, we favor options that bring to mind immediate examples.
13. Buffer Effect of Social Support
People who feel supported by others feel less stress. If you know your friends will support you and there is someone with whom you can talk things through, somehow stressful situations are more tolerable.
14. Ben Franklin Effect
When we do a person a favor, we like them more.
15. Propinquity Effect
The more we meet and interact with people, the more likely we are to become friends with them.
Further reading

Content: 15 Psychological Studies for Marketers to Know
1. The Endowment Effect
When we own something, we tend to value it more highly. If we have to sell it, we want more than it is really worth. click to share
The research: A study at Duke University found that students who had won basketball tickets valued the tickets at $2,400. Those who had not won tickets would pay $170. Similarly, a study by Daniel Kahneman of Cal-Berkeley found the same effect with study participants and the price of mugs. Value doubled for those owning a mug (perceived worth $10) compared to those looking to purchase (willing to pay $5). Marketing takeaway: Your customers attribute a higher value to things they already own.