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©2016 Morningstar, Inc. All rights reserved.
Erik JohnsonMorningstar, Inc.May 17, 2016
Think Like Your Visitors to Increase Website Conversions
To engage your visitors, you have to know how they think Image: dierk schaefer
1. Speak to the Right System2. Prime your Visitors3. Frame the Action4. Experiment
Agenda
Hi, I’m Erik.Marketing Optimization ManagerMorningstar, Inc.
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About the Behavioral Insights Team
•Behavioral scientists study the quirks of the mind: people often act “irrationally” and small interventions can help people change their behavior.•At Morningstar, we work to better understand, and help, investors and their ecosystem overcome behavioral biases.
Steve Wendel Head of
Behavioral Science
Sarah Newcomb Behavioral Scientist
Amna KanounProgram Manager
Erik JohnsonMarketing
Optimization Manager
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Phallon Edmonds
BehavioralContent
Associate
1. Speak to the Right System2. Prime your Visitors3. Frame the Action4. Experiment
Agenda
Which is more intuitive?
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Which is more intuitive?
10Image: The Design of Everyday Things
Our mind operates in two systems
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System 1Automatic SystemAutomatic and quick, with little or no effort and no sense of voluntary control
System 2Reflective SystemCareful attention for effortful mental activities
Image: Anna, Amber Case
Our mind operates in two systems
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System 1Automatic SystemUncontrolledEffortlessAssociativeFastUnconsciousSkilled
Image: Anna
Our mind operates in two systems
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System 2Reflective SystemControlledEffortfulDeductiveSlowSelf-awareRule following
Image:, Amber Case
So how does this apply to your site?
Image: Noelia
Thinking prevents action
15Image: Brian Siewiorek
Thinking prevents action
16Source: Fidelity Investments
Appeal to System 1 first
17Image: Anna
Communicate clearly
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• Clearly state your value proposition:–Who your site is for–What the benefits are for the visitor–Why it’s relevant to them
• Speak in the language your visitors use
Speak in the language your visitors use
20Image: Verizon Wireless
Make actions clear
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200% increase
Source: Morningstar
Make action easy
23Image: amanda tipton
Use defaults
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Simplify steps
25Image: UserOnboard
Skip steps
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Sometimes we need System 2
27Image:, Amber Case
Appeal to System 2 when System 1 will cause problems
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1. Speak to the Right System2. Prime your Visitors3. Frame the Action4. Experiment
Agenda
Who can tell the difference between red and white wine?
33Image: Nicholas Brett
Who can tell the difference between red and white wine?
34Image: Nicholas Brett Source: Morrota, Brochetb, and Dubourdieub, 2001
White wine artificially colored red with an odorless dye was identified as a red wine by a panel of 54 professional wine tasters.
What’s priming?
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Priming
How our decisions, actions, and opinions are influenced by subtle and often seemingly meaningless factors in our environment.
Our thoughts, feelings, and actions are primed by everything around us
Image:Karthik Pasupathy Ramachandran
How are your visitors being primed?
Image: KJoe Hart
Prime with words
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Prime with words
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Prime with words
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Prime with images
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Prime with images
42Source: Signal v. Noise
Prime with color
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Blue: Security and integrity or tranquility and peace
Green: Freshness and environmental
Yellow: Energy and cheerfulness or caution
Source: Quicksprout
Prime with color
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Purple: Spirituality, luxury
Pink: Romance, beauty, love, sensitivity
Source: Quicksprout
Prime with color
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Pure colors: youthful, summery, cheerful, energetic, or ‘cool’ feelings.
Tinted colors: lighter, more peaceful, and less energetic
Shaded colors: mysterious, dark, evil, or dangerous
Source: Quicksprout
1. Speak to the Right System2. Prime your Visitors3. Frame the Action4. Experiment
Agenda
Which one of the inner squares looks lighter? Darker?
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What’s framing?
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FramingThe way choices are arranged and presented to us changes the way we perceive our options and make decisions.
Framing changes action
49Source: Ariely, 2008
The Decoy Effect
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68%32%
16%0%84%
Source: Ariely, 2008
Anchoring
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Anchoring
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Anchoring
55Source: Unbounce
500%increase
Frame what’s popular
57Source: Marketing Land
Frame with social proof
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1. Speak to the Right System2. Prime your Visitors3. Frame the Action4. Experiment
Agenda
Test to see what really works
61Source: Signal v. Noise
Best practices aren’t infallible
62Source: Signal v. Noise
Experimentation is the behavioral method
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The A/B test: The easiest, and most powerful way to test and learn
Technology makes testing easy
65Image: Smashing Magazine
1. Speak to the Right System2. Prime your Visitors3. Frame the Action4. Experiment
Agenda
Know the psychology of your site
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• Which system of thinking are your visitors using?
• What is priming them?
• How are the actions framed?
Image: Warm Fuzz
Experiment to find what works
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• Test different ways of utilizing psychological theories
• Use software to run A/B tests
Reap the benefits
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Disclosure
©2016 Morningstar, Inc. All rights reserved. For information and/or illustrative purposes only. Not for public distribution. The Morningstar name and logo are registered trademarks of Morningstar, Inc.
Morningstar Investment Management LLC is a registered investment adviser and subsidiary of Morningstar, Inc. The Morningstar® Managed PortfoliosSM program is offered by Morningstar Investment Services and is intended for citizens or legal residents of the United States or its territories. Morningstar Investment Services LLC is a registered investment adviser and subsidiary of Morningstar Investment Management LLC. Portfolio construction and on-going monitoring and maintenance of the portfolios within the program is provided on Morningstar Investment Services behalf by Morningstar Investment Management LLC. This Program can only be offered by a registered investment adviser or investment adviser representative.
