SlideShare a Scribd company logo
1 of 2
Download to read offline
Paul Hanus
            Paul.Hanus@thefuturescompany.com

            September 27, 2011




Not another decision!
Marketing to the 'decision fatigued' consumer


The Bottom Line

 The more decisions a consumer makes in a day, the more taxing the process becomes. Focusing on
 the ways to ease this decision fatigue so that consumers can engage and make the right choice for
 their needs is a rising opportunity.



At the Root


 A complex, information-saturated               Consumers expect products                         The return of risk and the need to
 environment                                    tailored to their individual taste                regularly assess it


 The average American consumed 33.8             69% agree, “Businesses care more                  77% agree, “I am constantly aware of
 gigabytes of information in 2008, up           about selling me products and services            the need to identify and manage the
 from 9.8 in 1980 1                             that already exist, rather than coming            risks that surround me in the world
                                                up with something that really fits my             today” 3
                                                lifestyle.” 2


Telling the Story
 Paper or plastic? Facebook, Twitter or Google +? Cook, takeout, fast food or dine            .
 out?

 These are just a tiny sliver of the choices the average consumer makes in a day. All
 are manageable when viewed in isolation. But for consumers balancing their desire
 for “just right for me” solutions in an environment that offers virtually limitless access
 to information, the cumulative effect of all these choices can be challenging. In fact,
 recent research indicates that the very act of deciding can wear down mental                       “…Simply the act of choosing can cause mental

                                                                                                   fatigue. Making choices can be difficult and taxing,
 willpower to the point that making a good choice becomes nearly impossible.
                                                                                                   and there is a personal price to choosing."

 The result of this decision fatigue is often one of two outcomes. Consumers opt for               Kathleen D. Vohs, PhD, et al "Making Choices Impairs
 the least mentally taxing choice, resulting in an impulsive, hasty selection (and,                Subsequent Self-Control"

 often, buyers’ remorse). Or, perhaps more likely in a time when money is scarce and
decisions are more consequential, they avoid making a choice altogether, clinging to
    the safer status quo.

    Both of these outcomes are far from ideal for businesses looking to create demand
    and long-term loyalty. Considering ways to ease the pressure placed on your
    customers by decision fatigue is an increasingly necessary requirement for
    companies looking to thrive in this marketplace.

Taking Action


    Know your customers inside and                                                                         Focus on your core differentiating
                                                       Guide the decision
    out                                                                                                    traits


    It’s never been more important to                  Emulate the Amazon model of                         In a decision fatigue world, consumers
    understand the journey your customers              providing recommendations and                       take shortcuts and often make one-
    embark upon and the barriers they                  ‘signposts’ based on the characteristics            dimensional decisions (such as on just
    encounter each step along the way.                 of your target consumer and those                   quality or just price) to simplify the
    Find out what decisions they see as                similar to them (“Customers who                     process. Highlight the areas you stand
    unnecessarily complex or cumbersome                bought this item also bought…”).                    out compared to your competition.
    and eliminate or automate them
    whenever possible.




                                     What's the best way to reach decision fatigued consumers?
                                            Share your thoughts on our Facebook page!




Marketplace examples




1 Source: How Much Information? 2009 Report on American Consumers, Roger E. Bohn and James E. Short, Global Information Industry Center, University
of California at San Diego
2 Source: 2011 Yankelovich MONITOR
3 Source: 2011 Yankelovich MONITOR, Wave 3"




                                                                © 2011 by The Futures Company

More Related Content

Similar to 2011 monitor minute_september-27

Doblin-BehavioralDesign-UserGuide.pdf
Doblin-BehavioralDesign-UserGuide.pdfDoblin-BehavioralDesign-UserGuide.pdf
Doblin-BehavioralDesign-UserGuide.pdfRyParken
 
Behavioural economics (and beyond: a presentation to Which? magazine
Behavioural economics (and beyond: a presentation to Which? magazineBehavioural economics (and beyond: a presentation to Which? magazine
Behavioural economics (and beyond: a presentation to Which? magazineJames Caig
 
The Economic Way of Thinking
The Economic Way of ThinkingThe Economic Way of Thinking
The Economic Way of ThinkingMatthew Caggia
 
Problem Solving Presentation Ppt
Problem Solving Presentation PptProblem Solving Presentation Ppt
Problem Solving Presentation Pptcutehalle
 
Consumer decisiion making
Consumer decisiion makingConsumer decisiion making
Consumer decisiion makingJitendra Singh
 
Decision Making Process Of An Organization
Decision Making Process Of An OrganizationDecision Making Process Of An Organization
Decision Making Process Of An OrganizationAmanda Hengel
 
The Consumer Buying Decision Process
The Consumer Buying Decision ProcessThe Consumer Buying Decision Process
The Consumer Buying Decision ProcessDr. Ahmad Faraz
 
Behavioural Economics
Behavioural EconomicsBehavioural Economics
Behavioural EconomicsHugo OGrady
 
Applying Behavioral Economics
Applying Behavioral EconomicsApplying Behavioral Economics
Applying Behavioral EconomicsC.A.F.C.A.
 
MKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I Ne
MKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I NeMKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I Ne
MKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I NeIlonaThornburg83
 
CHARACTERISTICS & STRATEGIES OF DECISION MAKING
CHARACTERISTICS & STRATEGIES OF DECISION MAKINGCHARACTERISTICS & STRATEGIES OF DECISION MAKING
CHARACTERISTICS & STRATEGIES OF DECISION MAKINGGhanshyam Das
 
Decision Making Presentation
Decision Making PresentationDecision Making Presentation
Decision Making PresentationChristian Dy
 
Consumer Behavior Project
Consumer Behavior ProjectConsumer Behavior Project
Consumer Behavior ProjectDnyanesh Bodhe
 
The Economic Way of Thinking (AP)
The Economic Way of Thinking (AP)The Economic Way of Thinking (AP)
The Economic Way of Thinking (AP)Matthew Caggia
 
Consumerbehavior
ConsumerbehaviorConsumerbehavior
Consumerbehaviorpraveevidhu
 

Similar to 2011 monitor minute_september-27 (20)

Doblin-BehavioralDesign-UserGuide.pdf
Doblin-BehavioralDesign-UserGuide.pdfDoblin-BehavioralDesign-UserGuide.pdf
Doblin-BehavioralDesign-UserGuide.pdf
 
choice
choicechoice
choice
 
Cons1
Cons1Cons1
Cons1
 
Behavioural economics (and beyond: a presentation to Which? magazine
Behavioural economics (and beyond: a presentation to Which? magazineBehavioural economics (and beyond: a presentation to Which? magazine
Behavioural economics (and beyond: a presentation to Which? magazine
 
Question
QuestionQuestion
Question
 
The Economic Way of Thinking
The Economic Way of ThinkingThe Economic Way of Thinking
The Economic Way of Thinking
 
Problem Solving Presentation Ppt
Problem Solving Presentation PptProblem Solving Presentation Ppt
Problem Solving Presentation Ppt
 
Consumer decisiion making
Consumer decisiion makingConsumer decisiion making
Consumer decisiion making
 
Decision Making Process Of An Organization
Decision Making Process Of An OrganizationDecision Making Process Of An Organization
Decision Making Process Of An Organization
 
Behavioural Economics Overview
Behavioural Economics OverviewBehavioural Economics Overview
Behavioural Economics Overview
 
The Consumer Buying Decision Process
The Consumer Buying Decision ProcessThe Consumer Buying Decision Process
The Consumer Buying Decision Process
 
Behavioural Economics
Behavioural EconomicsBehavioural Economics
Behavioural Economics
 
Applying Behavioral Economics
Applying Behavioral EconomicsApplying Behavioral Economics
Applying Behavioral Economics
 
MKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I Ne
MKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I NeMKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I Ne
MKT305 Week 7 Lecture 2 Consumer Behavior Decision Making I Ne
 
CHARACTERISTICS & STRATEGIES OF DECISION MAKING
CHARACTERISTICS & STRATEGIES OF DECISION MAKINGCHARACTERISTICS & STRATEGIES OF DECISION MAKING
CHARACTERISTICS & STRATEGIES OF DECISION MAKING
 
Decision Making Presentation
Decision Making PresentationDecision Making Presentation
Decision Making Presentation
 
It's Your Move
It's Your MoveIt's Your Move
It's Your Move
 
Consumer Behavior Project
Consumer Behavior ProjectConsumer Behavior Project
Consumer Behavior Project
 
The Economic Way of Thinking (AP)
The Economic Way of Thinking (AP)The Economic Way of Thinking (AP)
The Economic Way of Thinking (AP)
 
Consumerbehavior
ConsumerbehaviorConsumerbehavior
Consumerbehavior
 

Recently uploaded

Fabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsFabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsWristbands Ireland
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)tazeenaila12
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBBPMedia1
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakEditores1
 
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...TalentView
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfAnhNguyen97152
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyHanna Klim
 
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHelene Heckrotte
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfCharles Cotter, PhD
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessAPCO
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examplesamberjiles31
 
Mihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZMihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZKanakChauhan5
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024Stephan Koning
 

Recently uploaded (20)

Fabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsFabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and Festivals
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerak
 
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agency
 
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examples
 
Mihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZMihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZ
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 

2011 monitor minute_september-27

  • 1. Paul Hanus Paul.Hanus@thefuturescompany.com September 27, 2011 Not another decision! Marketing to the 'decision fatigued' consumer The Bottom Line The more decisions a consumer makes in a day, the more taxing the process becomes. Focusing on the ways to ease this decision fatigue so that consumers can engage and make the right choice for their needs is a rising opportunity. At the Root A complex, information-saturated Consumers expect products The return of risk and the need to environment tailored to their individual taste regularly assess it The average American consumed 33.8 69% agree, “Businesses care more 77% agree, “I am constantly aware of gigabytes of information in 2008, up about selling me products and services the need to identify and manage the from 9.8 in 1980 1 that already exist, rather than coming risks that surround me in the world up with something that really fits my today” 3 lifestyle.” 2 Telling the Story Paper or plastic? Facebook, Twitter or Google +? Cook, takeout, fast food or dine . out? These are just a tiny sliver of the choices the average consumer makes in a day. All are manageable when viewed in isolation. But for consumers balancing their desire for “just right for me” solutions in an environment that offers virtually limitless access to information, the cumulative effect of all these choices can be challenging. In fact, recent research indicates that the very act of deciding can wear down mental “…Simply the act of choosing can cause mental fatigue. Making choices can be difficult and taxing, willpower to the point that making a good choice becomes nearly impossible. and there is a personal price to choosing." The result of this decision fatigue is often one of two outcomes. Consumers opt for Kathleen D. Vohs, PhD, et al "Making Choices Impairs the least mentally taxing choice, resulting in an impulsive, hasty selection (and, Subsequent Self-Control" often, buyers’ remorse). Or, perhaps more likely in a time when money is scarce and
  • 2. decisions are more consequential, they avoid making a choice altogether, clinging to the safer status quo. Both of these outcomes are far from ideal for businesses looking to create demand and long-term loyalty. Considering ways to ease the pressure placed on your customers by decision fatigue is an increasingly necessary requirement for companies looking to thrive in this marketplace. Taking Action Know your customers inside and Focus on your core differentiating Guide the decision out traits It’s never been more important to Emulate the Amazon model of In a decision fatigue world, consumers understand the journey your customers providing recommendations and take shortcuts and often make one- embark upon and the barriers they ‘signposts’ based on the characteristics dimensional decisions (such as on just encounter each step along the way. of your target consumer and those quality or just price) to simplify the Find out what decisions they see as similar to them (“Customers who process. Highlight the areas you stand unnecessarily complex or cumbersome bought this item also bought…”). out compared to your competition. and eliminate or automate them whenever possible. What's the best way to reach decision fatigued consumers? Share your thoughts on our Facebook page! Marketplace examples 1 Source: How Much Information? 2009 Report on American Consumers, Roger E. Bohn and James E. Short, Global Information Industry Center, University of California at San Diego 2 Source: 2011 Yankelovich MONITOR 3 Source: 2011 Yankelovich MONITOR, Wave 3" © 2011 by The Futures Company