Euclid Elements - bricks and mortar sensors and tracking

Euclid provide a sensor that tracks customers around real world stores.

Phone call tracking

For call tracking Kevin at Corke-Wallis recommends AdInsight.com.

Unbounce.com

Use a template to create landing pages.
Optimise for higher conversion with simple A/B testing.

Testing which shop should come to a neighbourhood

-Put an electronic billboard in vacant shop window.
-Write rotating series of ads with different shop brands saying 'to register for opening offers [QR code/email]
-See which gets more responses, use that to pitch to shop that they should open (e.g. say to Tommy Hilfiger that they did very well and should open)

iWantGreatCare

Ratings service iWantGreatCare providing ratings for doctors, dentists, pharmacies and care homes. They are currently trialling with Lloyds Pharmacies.

http://www.iwantgreatcare.org/

Tax and Social Norms

Groups of taxpayers in Minnesota were given four kinds of communication:
- their taxes went to various good works, including education, police protection and fire protection.
- threatened with information about the risks of punishment for noncompliance.
- how they might get help if they were confused about how to fill out their tax forms.
- just that 90% of Minnesotans already complied, in full, with their obligations under the tax law.

Only the last one had a significant effect on tax compliance. The last one improved tax compliance.

Source: Stephen Coleman's report for the State of Minnesota (available here) quoted in Nudge book p 73.

'Mere-measurement' effect

When people are asked what they intend to do, they tend to act in accordance with their answers. e.g. if they're asked if they intend to eat certain food, or exercise.

This is an example of priming - where the merest hint of an idea or object can trigger action (see also Derren Brown). Objectives characteristic of a business environment, such as briefcases, make people more competitive.

Source: Nudge book p 76-77

Hot-Cold Empathy Gap

When in a 'cold' we don't appreciate how much our desires and behaviours change when we are under the influence of arousal.

Source: George Loewenstein (1996) quoted in Nudge book, p 45

Diversification and the '1/n' heuristic

People generally prefer to 'not put all their eggs in one basket'.

An example of this is the '1/n' heuristic - given n options, divide assets equally between these options.

Source: Nudge book p 134

Conformity

Humans like to conform.

Source: Nudge book

Other examples:
- putting smiley faces on electricity bills to show if you're doing better or worse than neighbours
- putting up an ad saying '90% of people have completed their tax return' (see other post on this)

Framing

'Of one hundred patients who have this operation, ten are dead after five years'
sounds worse than
'Of one hundred patients who have this operation, ninety are alive after five years.'

Source: Nudge, p 39

Loss Aversion

Most people have a loss aversion - they hate a loss more than they like a gain of the same size. In other words you need a large gain to get enough pleasure to offset the discomfort from a small loss.

Source: Nudge book

Overconfidence Effect

90% of all drivers think they are above average.

Source: Nudge book, p35

Status Quo Bias

People have a lot of inertia. For similar reasons the 'default' option in any plan is often important.

Source: Nudge

Anchoring Bias

If you have an initial piece of information (an anchor) in your head, this affects your later decisions. This is true even if the anchor is irrelevant - e.g. think of your phone number and then answer when the hun sacked Europe.

Info:
http://nudges.wordpress.com/tips-for-home-sellers-how-to-price-a-house/
http://www.slideshare.net/rnja8c/anchoring-and-adjustment-in-behavioral-economics

Orange

When Hutchison's lawyers said they couldn't legally register Orange because it was a colour, marketing director Christ Moss made them register it as a fruit.

See also Chris Moss story from Virgin Atlantic:
http://vivondo.blogspot.com/2011/12/chocolate-mousse.html

Both from Adam Morgan's (EatBigFish) article at http://www.marketingmagazine.co.uk/news/215180/