SRMC Ltd
Waverley House
Hinton Way
Cambridge
CB22 5AZ
United Kingdom
07970 480113
+447970 480113
Years ago, between the ages of 16 and 20, I had a part-time job in a sports shop.
It would have been an ideal job for someone like me, who is so keen on sport, were it not for the fact that each week a tempting new product would come into the shop. It was my duty to spend some time getting familiar with it, and that process often led to strong consumer desires of my own.
Most of the money I earned went back to the shop!
But, even all that time ago, I did learn some things about consumer behaviour.
One of the things I recall the shop’s owner telling me was that some customers, “just need to be told.” Over the years his experience had shown him that sometimes people didn’t want equivocal advice, they wanted someone they could trust to make the decision for them.
More than thirty years ago social psychologists discovered that too much choice can be overwhelming for customers – a finding that a whole raft of studies have recently reinforced and developed.
One solution for customers is simply to walk away, however they might justify this as a conscious choice on their part, it’s most likely to be a reaction to the confusing emotions they’re feeling.
One solution for people wanting to sell to these customers is to convince them that one of the options is right for them. But how can you do this?
Scientists at Emory University School of Medicine have discovered that people will actually stop thinking for themselves when someone they perceive as an expert gives them advice.
If you can persuade someone that you are an expert you can switch off their brain!
In the study participants’ brains were monitored using an fMRI scan whilst they made financial choices between a guaranteed payment plan and a lottery.
At certain stages they received advice from a financial expert about what they should do. This advisor gave conservative advice that didn’t lead to the highest gains possible.
Nevertheless, the brain scans showed that people stopped thinking about the respective value of the alternatives when they were getting ‘expert’ advice.
This research shows how important it is that you make prospective customers aware of your expertise before you try and sell something to them.
Source: Expert Financial Advice Neurobiologically “Offloads” Financial Decision Making under Risk Jan B. Engelmann, C. Monica Capra, Charles Noussair, and Gregory S. Berns PLoS ONE. 2009; 4(3): e4957. Published online 2009 March 24. doi: 10.1371/journal.pone.0004957
© 2009 Philip Graves Consumer Behaviour Research Resource. All rights reserved.
