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Behavioral Economics - or why it makes sense to design products in such a way that they correspond with our human nature.
Humans are unusual beings. They act according to their own rules, and sometimes this behavior doesn't seem logical at first - sometimes even irrational.
When it comes to products and services, we can tell you a thing or two. We try to understand what your customers want. We even actively ask them what they want from the product and try to fulfil as many of these wishes as possible.
And yet - even if we've done everything the customers wish for, the product isn't demanded as much as expected. But why not? After all, we did everything right, and implemented everything just as the customers required. And then he still doesn't buy it, after all that. What have we done wrong?
Basically nothing....People find it difficult to assess what they want in the future and what this should look like in concrete terms. There are too many factors that ultimately influence behavior for the customer to be able to objectively calculate this in advance.
But does that mean there's no point in asking your customer? Well - at first it might seem that way. Big entrepreneurs, like Steve Jobs or Jeff Bezos, have often enough said that they think there's no point in asking the customer what he needs. We completely agree. It's not about your customers telling you exactly what they want. That would be asking too much.
That doesn't mean though that there's no point in asking customers about their opinions to your products and services.
But knowing what relevant meaning lies in the words of your customers, we need a concrete picture of how people function. Behavioral Economics reflects exactly this image of human beings with all their irrationalities in a simple and easily operationalized way.
Why do we focus on customer behavior and not on their attitudes and opinions? Well, the advantage is obvious. It's about finding out at what point that the customer demonstrates a different behavior and what has led to it. These are the points where we can and must take action - the ones that are really relevant for the customer.
For in spite of all the complexity that makes up the people experience, there are still predictable patterns of how we behave in certain situations. If you know these patterns, you can actively work with them and stimulate or attenuate behavior - and thereby optimize products and services for your customers.
We want to help your customers where change is actually achievable. It isn't necessary to dive into the complicated psyche of the consumer and become the ultimate "customer decoder".
With simple Behavioral Economic principles, it's possible for anyone to look behind the scenes of customer behavior and to actively recognize what the success or failure of their products is measured by. It's best to integrate behavioral success strategies during the development of new products. This is how you create a product that meets the needs of your customers from the very beginning.