6 Cognitive biases in marketing & copywriting to help you make a few extra bucks in 2022

1. Fresh Start Effect - New beginnings encourage people to pursue their goals

This bias is responsible for the whole "New Year, New you" movement. Whether it's a cliche or not, people want to change at the beginning of every year.

Right NOW (at the end of the year), market your product offering the "New You" solution your product provides.

2. Labour Illusion - People value things more when they see the work behind them

Build in Public - constant updates on new features and upgrades to your products or services creates the perception there's a lot of work put into your business, making it more valuable

3. Framing Effect - people decide on options based on how the options are presented

Pricing - "The tool costs $720/year" or "The tool costs $2/day"

4. Decoy Effect - People change their preference between two options when presented with a third option (the decoy) that is “asymmetrically dominated”

Pricing - if you offer just 1 price, a customer has 2 choices: either to buy or not.
If you offer 2 choices of pricing, a customer has 3 choices: To buy the cheaper one, the more expensive one, or not to buy.

When you add the third pricing option, a much more expensive one, now the second price (the previous expensive one) looks like a bargain.

5. Risk Compensation Theory - People tend to be more careful if they feel there is a greater risk if they take a particular action.

They are less careful when they feel they’re protected by certain factors.
Outline a clear refund/return policy. By offering a 30-day money-back guarantee encourage people to make business with you.

6. Pratfall Effect - If a brand admits its flaws and makes itself vulnerable, we perceive it as more authentic, thus more likable

There's a catch to that. Your brand needs to be well perceived in the first place. Then, admitting to your flaws make your brand more authentic.
When you're admitting to your flaws, when your brand is perceived as not reliable, it makes things worse.

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