All Customers Are Irrational: Understanding What They Think, by William J. Cusick

By William J. Cusick

As many companies are gaining knowledge of, shopper habit doesn’t constantly make feel. that actually shouldn’t be excellent. As fresh stories have proven, humans are inclined to base their judgements on extra unconscious, emotional wants than on rational, functional offerings. What’s extra, consumers aren’t in a position to inform you thoroughly why they do what they do. Combining contemporary study findings with real-world examples from his consulting perform on patron adventure, William J. Cusick examines how the sub­con­scious a part of the mind drives the choices and behaviour of each purchaser every day and introduces the concept that of "the irrational customer." All consumers Are Irrational indicates why companies needs to swap their method of attracting and keeping clients, and proposes methods they could modify their innovations on every little thing from patron study, product layout and site improvement to name middle administration, worker recruitment, and retail shop layouts, by means of concentrating on what consumers are literally doing rather than what they’re announcing. sincere, direct and insightful, All buyers Are Irrational can assist companies faucet into the impulses and motivations that either allure and maintain shoppers for the lengthy haul.

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Additional resources for All Customers Are Irrational: Understanding What They Think, What They Feel, and What Keeps Them Coming Back

Sample text

In fact, our thoughts and our speech are littered with metaphors. Metaphors—pictures, logos, representative concepts—provide a direct conduit to a person’s irrational subconscious. To take a simple example, consider advertising for one of the larger consulting companies. Does the company represent what it does by presenting complex business issues that it 42 PART I: A New World solves or in terms (visual and verbal) of “climbing mountains,” “reaching the summit,” etc.? Metaphors are like your broadband Internet connection in terms of effectively communicating fundamental ideas back and forth with your customers.

It’s a huge challenge. But you could avoid much of this if you understood the beauty of compounding the “interest” of your customer base through increased retention. In essence, this is the cumulative, positive impact created by raising your retention at all. Look at it this way: Let’s say that you currently have a retention rate of 84 percent. Remember, that means for every 100 customers that were around at the beginning of the year, you now have 84 left. You have a slow leak of 16 percent of your customers each year.

But you can’t afford to fall into the trap that afflicts so many companies: implementing customer research, product design, and customer service based on old, ineffective management philosophies. W 29 30 PART I: A New World Our knowledge and assumptions about how our customers think and act have fundamentally changed over the past several years. And yet, most companies continue blindly down the old path. But not you! You can take advantage of this new knowledge to make substantive changes in your company’s customer strategies.

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