August 31, 2022-Every once in a while, we put out a blog post that’s not just for exclusive subscribers. We do this very rarely, but today is one of those days!
In Neuromarketing, we use something called a Rational Consumer Model which means that we are able to predict certain things about our customers based on the assumption that they act and think in a rational way when choosing goods and services. Rational Choice Theory states that: individuals rely on rational calculations to make rational choices that result in outcomes aligned with their best interests. It’s basically the conversation that customers have in their heads. The internal dialogue that their brain chatters to them day in and day out. In today’s post, we’ll explore 4 out of 10 types of internal dialogue that use deliberation.
When a person walks up to your booth at a show and looks at your books, they do the following things automatically:
- Retrieving memories– “Have we met before?” “I think you may have done a presentation at the library on your novel.” Perhaps they’re trying to think of where they’ve seen your book before, your logo, or you may look familiar to them. If this is their first encounter with you, they may be trying to remember who they need to buy for (upcoming birthday etc.), reading to their own children, or remembering when they were read to as a child if you’re selling kid’s books.
- Interpreting the past- “The last time I bought Billy a book, he didn’t like it. We read it once and never opened it again…I wonder if this will be the same case if I buy this one for him…maybe I should wait until he’s with me so that he can choose.” Your customer is interpreting the past so that they can decide if they make a similar decision now as they have previously if the results will be the same. They’re looking for a good past experience or a bad past experience that will help shape their decision.
- Anticipating the future– “It’s Claire’s birthday next week…” When your customer sees your books, they automatically try to fill in the blanks of where your book can fill a want or a need.
- Planning– “It’s Claire’s birthday next week, I’ll get her this book as part of her gift.” “The holidays are just around the corner; you can never start shopping too early! I can cross a bunch of book lovers off my list!” They’re now in the planning stage where they’re getting ready to purchase.
We didn’t cover all ten steps in today’s post (Check out our Neuromarketing for Authors Course here for more information: Neuromarketing for Authors Course – Pandamonium Publishing House) but the first four are a really good snapshot into the internal dialogue that happens for your customers when they go about their day and interact with you and your books. It’s imperative as booksellers that we know their thought process so that we can better help facilitate things and make their purchase easy, an enjoyable experience, and that they’re highly satisfied with their decision to purchase your book. By understanding consumer behaviour, we can better tailor each experience to their individual needs and build long-lasting relationships.
If you’re interested in any of our courses, classes, or workshops, click here: Virtual Courses, Classes, and Workshops – Pandamonium Publishing House
November 24, 2021– I hope that you’re gaining a lot of valuable knowledge and insight this month as we’re giving out daily author tips for self and book promotion. As you probably know, I was fortunate to study Consumer Neuromarketing and Neuroscience at the University of Copenhagen a couple of years ago; today, I’ll talk about cognitive biases and how they can help you promote yourself and your books when implemented correctly. (I can’t believe I’m giving this info away!) Here we go!
- Availability Bias– This bias is essentially a shortcut in our minds that causes us to rely solely on readily available knowledge rather than examining alternatives. We rely on immediate examples based on our most vivid experiences or memories in decision-making. It’s a shortcut for our brains to say, yeah, I know reading is good. You’re basing ‘reading is good’ on the information you have readily available in your brain, such as remembering all the times your parents read to you as a child or recalling the experience you had waiting in line all night for the release of your favourite author’s book and the excitement it created.
- False Consensus Bias-This bias is when people assume that others think the way that they do. They overestimate the degree to which their habits, values, beliefs, preferences, and opinions are normal and related to the general population. “I love books so much!” Well, not everyone does. Or “The movie was way better than the book!” Umm..no, it wasn’t. See what I mean? Not everyone thinks the way that you do.
- Choice-Supportive Bias-This bias happens after we make a decision. When we choose something (because we chose it and are the smartest, most educated person ever to exist), it can’t possibly be the wrong choice! We tend to feel positive about our choices, even if the choice we make has flaws. Humans also seek out information that (only) supports their choice. The point is, people hate being wrong, and they’ll do whatever it takes to make their decisions seem right. For example, we know that literacy matters, but there are people out there who will argue that kids ‘lose out on life’ if they spend too much time with their noses buried in books. They’ll argue that children who read often lack social skills or that their interpersonal skills aren’t up to snuff. Actually, studies show that the opposite is true; children who read have enhanced empathy, a higher ability to problem solve, are better at conversing due to a vast lexicon to draw upon (see what I mean?), and improved focus and concentration, which are crucial traits of a good conversationalist. I feel like I should drop a mic here, but that’s my own choice-supportive bias coming into play as I’ve chosen the career of a publisher.
- Optimism Bias-This bias correlates directly with the amygdala part of the brain, which controls emotion. Often referred to as Lizard Brain, our old brain tends to make us more optimistic than we should be and hard wire us to follow wishful thinking. It leads us to believe that we are at a lower risk of experiencing a negative outcome than a positive one and that the future will be better. For example, I’m not going to buy the author’s book now, I’ll wait until it goes on sale (the future will be better), or I’ll wait to see if I win it in the draw they’re having (wishful thinking).
- Sunk Cost Bias-This bias leads us to stick with opportunities for too long when we have invested a lot of time or money. We irrationally pursue activities or things that don’t meet our expectations because of the aforementioned reasons. People stay in bad relationships (But, I’ve been with them for fifteen years, I can’t leave now! What a waste of time!), occupations they hate (same example as above), and continue to harm themselves through poor choices such as gambling (I can’t quit now, I have to win my money back), or addiction (I have to eat this entire $30 chocolate cake because it was too expensive to throw away even though I’m trying to live a healthier lifestyle).
I’m going to leave out the familiarity bias and the reciprocity bias for now in the interest of having this post not read like a phone book. The point of this post is to educate you into tiny insights into consumer behaviour and why people do the things they do. Keeping these biases in mind, how will you change your book-selling and promoting strategy? Will you look at your consumers through a different lens and try to understand them more effectively? For more information on Consumer Neuromarketing for Authors, check out my course here: Neuromarketing for Authors Course – Pandamonium Publishing House
October 26, 2020– Today I’d like to speak specifically to the self-published authors out there. Self-publishing your work can be a monumental task, but congratulations if you’ve succeeded. I hope your book sales are going well and that you’re able to make a good income from your work. If you have a book that’s been self-published, but things aren’t going as planned in terms of sales, marketing, discoverability, or reviews, I’m here to help! I’m offering a very special course for a limited time only. The course is titled, Get Your Book Noticed and Increase Your Sales and here’s what it covers:
- Why your book isn’t selling and ten things you can do about it.
- Sprinkler or Waterfall? The best approach to marketing your book.
- Amazon Best Seller List. What you need to know and the dos and don’ts of hitting the top.
- Why your display matters even though you think it doesn’t.
- Data Analysis and Implementation. What numbers you should be looking at daily. Metadata matters!
- Reviews and word of mouth. How to get both.
- How to capture leads and convert them into sales.
- Newsletters, what works and what doesn’t.
- Navigating Goodreads to get the best publicity possible and the cardinal rule that you should NEVER break.
- Facebook, Instagram ads, what works and what doesn’t. The importance of writing great copy that sells.
I’ve taken the most relevant pieces of information that I’ve learned through my courses at Wharton and Copenhagen business school to combine ideas from Consumer Neuromarketing and Neuroscience and Viral Marketing and How to Craft Contagious Content. Each section has modules and printable downloads to help you craft an effective campaign for your book. For more information send us an email at email@example.com or click on the link below to purchase: https://pandamoniumpublishing.com/product/course-get-your-book-noticed-and-increase-your-sales/