Bye-Now Effect
The tendency for people to defer purchasing decisions to a later time, often leading to procrastination. Important for understanding consumer behavior and optimizing sales strategies.
19 topics found for:
“purchase decision”
Choice-Supportive Bias
The tendency to attribute positive qualities to one's own choices and downplay the negatives, enhancing post-decision satisfaction. Useful for understanding user satisfaction and designing experiences that reinforce positive decision outcomes.
BoFu
Bottom of Funnel (BoFu) refers to the stage in the sales funnel where prospects are close to making a purchase decision. Important for tailoring marketing and sales efforts to convert leads into customers.
ZMOT
Zero Moment of Truth (ZMOT) is a concept in marketing that refers to the point in the buying cycle when the consumer researches a product before the seller even knows they exist. Crucial for understanding consumer behavior and optimizing marketing strategies to influence decision-making at this early stage.
Last Touch
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
Pseudo Set Framing
The cognitive bias where people treat a set of items as more significant when they are perceived as a cohesive group. Important for understanding user perception and decision-making.
Scarcity Principle
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior. Important for creating urgency and increasing perceived value in marketing.
Discounted Utility
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones. Important for understanding user preferences and designing experiences that account for time-based value perceptions.
MoFu
Middle of Funnel (MoFu) is the stage in the sales funnel where leads are being nurtured and evaluated before becoming sales-ready. Crucial for converting leads into prospects and moving them closer to purchase.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
Long-Tail Keywords
Specific and less common keyword phrases that visitors are more likely to use when they are closer to making a purchase or when using voice search. Important for targeting niche markets and improving SEO with highly specific search terms.
Customer Journey
The complete set of experiences that customers go through when interacting with a company, from initial contact to post-purchase. Essential for understanding and optimizing each touchpoint in the customer lifecycle.
AIDA
Attention, Interest, Desire, Action (AIDA) is a marketing model that outlines the stages a consumer goes through from awareness to decision. Crucial for creating effective marketing strategies and campaigns.
MoT
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
Brand Recall
The ability of consumers to remember a brand when prompted by a product category. Crucial for understanding brand strength and effectiveness in marketing.
Brand Image
The perception of a brand in the minds of consumers, shaped by interactions and experiences with the brand. Crucial for understanding consumer perceptions and guiding brand strategy.
Brand Awareness
The extent to which consumers are familiar with a brand and can recognize it. Crucial for establishing a strong market presence and driving customer acquisition.
Neuroselling
The application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies. Important for creating more effective and engaging marketing campaigns.