Digital Marketing Tips! Why Benefits = Bad Marketing Strategy
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Digital Marketing Tips! Why Benefits = Bad Marketing Strategy

Hello everyone, one of the biggest mistakes that I see in marketing is the Communication of benefits. Why is this a mistake? Pause the video and have a think! The answer is loss aversion. Loss aversion is the cognitive bias that refers to people’s tendency to prefer Avoiding losses than acquiring equivalent gains we experience this cognitive bias because when we were cavemen and cave women our primary goal was survival For our ancestors survival meant not getting eaten That is why we are now hardwired to focus on avoiding losses For us as marketers, this means we need to reframe our offer rather than focusing on the benefits of Availing your product or service. What you should instead be doing is emphasizing The loss that will be incurred by not taking your product or service Which offer do you think is more persuasive: (A) that you will save $100 by switching energy service provider or B that you will lose $100 by not switching energy service provider. A study found that message (B) was more persuasive than message (A) What was truly remarkable, however, was that message (B) was found to be 45% more effective than message (A) There are three key takeaways from today’s video 1. Two offers are exactly the same but one outperforms the other by 45% Just by tweaking the copy slightly That’s the power of good marketing. Takeaway 2. For the digital marketers out there amongst you You can apply loss aversion in many ways to your PPC SEO YouTube and Facebook copy. Final takeaway: The best part about applying loss aversion to your digital marketing campaigns is Of course that you can a/b test. By a/b testing you can exactly identify the impact applying loss aversion is having to your campaigns If you would like to learn more of the marketing science techniques I used to build a thousand plus company. Subscribe to my YouTube channel and hit the bell icon for my latest updates

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