Jeweller - April 2020
• Conquering Coronavirus: protect and prepare your business during the pandemic • Time frame: exploring five years of change in the watch category • Watch this space: a showcase of best-selling and new release watches
• Conquering Coronavirus: protect and prepare your business during the pandemic
• Time frame: exploring five years of change in the watch category
• Watch this space: a showcase of best-selling and new release watches
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Retail Strategy<br />
You don’t have a judge to proclaim your<br />
innocence, so you must instead use<br />
credibility cues – for example, testimonials<br />
and online product reviews from previous<br />
customers – to build your reputation.<br />
Finally, you can change the context of your<br />
customer’s decision-making.<br />
There is a popular anecdote describing a<br />
meeting between a chief financial officer<br />
(CFO) and a chief executive officer (CEO) as<br />
they decide how much to spend on training<br />
their employees.<br />
The CFO says, “What if we train people and<br />
they leave?” The CEO responds, “What if<br />
we don’t, and they stay?”<br />
In other words, changing the context of<br />
the decision-making can be helpful in<br />
encouraging your customer to re-think the<br />
position not to buy.<br />
What if they purchase your product as a<br />
gift, and the recipient doesn’t like it?<br />
On the other hand, what if they don’t buy<br />
it and the recipient is disappointed they<br />
received nothing at all?<br />
All about the angles<br />
One of my hobbies is stone carving: taking<br />
a hammer and chisel to a block of hard<br />
rock to see what emerges.<br />
A mistake in stone carving is to assume<br />
that all stone is the same. In fact, each<br />
piece has its own weaknesses and<br />
strengths.<br />
At first, I must make a few tentative strikes<br />
to allow the stone to reveal something to<br />
me. Once the desired outcome forms in my<br />
mind, I can work towards it.<br />
This is how retailers can approach<br />
behaviour change.<br />
Rather than jumping in with fixed<br />
assumptions, we first need to spend<br />
some time ‘noodling around’ to<br />
understand the person or people we are<br />
trying to influence.<br />
For this task, I use an empathy map<br />
broken into categories, including what<br />
they think and feel, say and do, see and<br />
hear, and their goals.<br />
This tool assists in clarifying the mindset<br />
of the target market or individual<br />
customer, and focuses on the specific<br />
context in which their behaviour is<br />
occurring.<br />
A slab of stone is inert, immovable.<br />
Your customer may seem that way too<br />
– whatever you try, they are not going to<br />
budge.<br />
If you attempt to tackle a slab of stone by<br />
pummelling the centre, it will do one of<br />
two things: resist until you are defeated, or<br />
resist until a fissure forms that destroys it.<br />
In either case, a blunt, frontal assault is<br />
ineffective.<br />
Instead you must use angles, chipping<br />
away at the edges, towards your objective.<br />
The same principle applies to behaviour<br />
change. If you are too blunt or forceful,<br />
your attempts will be resisted.<br />
This is known as reactance, and has<br />
been found to reduce the effectiveness of<br />
advertisements such as Nike’s famous<br />
‘Just Do It’ campaign.<br />
Telling someone they have to do<br />
something, that it will be ‘good for’<br />
them, or even providing a litany of facts<br />
and figures to justify it, is unlikely to be<br />
persuasive.<br />
Instead, the behavioural science-based<br />
approach is to anticipate reasons for<br />
their resistance and devise angles for<br />
addressing each barrier.<br />
There are three reasons people resist:<br />
• Apathy or laziness – they can’t be<br />
bothered to go through the process of<br />
purchasing<br />
• Decision paralysis – they might be<br />
interested but are confused as to what they<br />
need do<br />
• Anxiety and fear – they might be<br />
interested but are worried about<br />
proceeding<br />
Reasons for<br />
resistance<br />
Apathy or<br />
laziness<br />
Process of<br />
purchasing<br />
is too slow or<br />
convoluted<br />
Decision<br />
paralysis<br />
Too many<br />
choices; hard<br />
to compare<br />
options directly<br />
Anxiety<br />
and fear<br />
Overthinking<br />
the decision;<br />
afraid of<br />
making the<br />
‘wrong’ choice<br />
While it takes a certain amount of force<br />
to chip into rock, it’s more about being<br />
precise and consistent, working with the<br />
stone rather than attempting to have it<br />
yield to your will.<br />
With behaviour change, it’s not about how<br />
much money you spend or how loudly you<br />
communicate your message – it’s about<br />
small, well-considered ‘nudges’.<br />
A clear call-to-action button on a website<br />
can impact conversion rates more than a<br />
TV ad – just as opting out being the default<br />
on a form can change an entire country’s<br />
rate of organ donation.<br />
Moving fruit to within arms’ reach in an<br />
office block cafe can change how the entire<br />
workforce eats.<br />
American writer, philosopher and artist<br />
Elbert Hubbard once said, “The sculptor<br />
produces the beautiful statue by chipping<br />
away such parts of the marble block as are<br />
not needed – it is a process of elimination.”<br />
Influencing another person’s behaviour<br />
can seem very complicated, and a natural<br />
tendency is to try to add more information<br />
or interactions.<br />
But as with stone carving, behaviour<br />
change can be more effective through<br />
elimination: eliminating superfluous<br />
information, eliminating unnecessary<br />
choices, and eliminating ‘noise’ that<br />
distracts from the objective.<br />
By focusing your efforts on the three<br />
science-based reasons for resistance<br />
– apathy, paralysis and anxiety – you<br />
can eliminate indecision efficiently<br />
and effectively.<br />
And by reframing your product and your<br />
sales approach, you can change your<br />
customer-jurors’ minds.<br />
BRI WILLIAMS is founder of People<br />
Patterns, a specialist consultancy that<br />
applies behavioural economics to customer<br />
purchasing patterns. briwilliams.com.au<br />
<strong>April</strong> <strong>2020</strong> | 43