What are the most common critical thinking mistakes made by marketers?

Critical thinking is a vital skill for marketers who want to create effective and innovative strategies that resonate with their audiences. However, critical thinking is not always easy to apply, especially in a fast-paced and competitive industry. In this article, we will explore some of the most common critical thinking mistakes made by marketers and how to avoid them.

1 Confirmation bias

Confirmation bias is the tendency to seek, interpret, and remember information that confirms our existing beliefs and preferences. This can lead to ignoring or dismissing evidence that contradicts or challenges our assumptions. For marketers, confirmation bias can result in skewed market research, selective data analysis, and overconfidence in their own ideas. To avoid confirmation bias, marketers should actively seek out alternative perspectives, test their hypotheses, and be open to feedback and criticism.

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Steve Potter

Creative Director, Performance Marketing Design. I align creative with marketing strategy to drive business growth
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In performance marketing you'd think there wouldn't be room for bias or anything but cold hard data. In reality campaigns and ads are run by people. When budgets are low or there's tremendous pressure to prove effectiveness, people can often take a safe approach. Test things at odd times of the day or not long enough to get a real feel for performance. Looking for data that supports safety or your preference is real and it's difficult to conquer

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2 Availability heuristic

Availability heuristic is the tendency to judge the likelihood or importance of something based on how easily it comes to mind. This can lead to overestimating the frequency or relevance of events that are more salient, recent, or memorable. For marketers, availability heuristic can result in relying too much on anecdotal evidence, following popular trends, and missing out on hidden opportunities. To avoid availability heuristic, marketers should use reliable data sources, conduct systematic research, and diversify their information channels.

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Beth Seitzberg

Creative director with an EMBA | Insight, intelligent creative and unrelenting curiosity to solve your business and marketing problems. | Creative & Technical Director at cat&tonic
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Another way the availability heuristic shows its ugly face is in the "first idea effect". It is so much easier to go with the first idea that occurs. But that's the lazy idea. The one you've used a hundred times, the trite idea, the common solution. Write it down but keep going. Just because you're a genius and it is the first idea you thought of doesn't mean you can't find a really remarkable one down the line.

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3 Anchoring effect

Anchoring effect is the tendency to rely too much on the first piece of information we receive when making decisions or judgments. This can lead to adjusting our subsequent estimates or opinions based on the initial anchor, regardless of its accuracy or relevance. For marketers, anchoring effect can result in setting unrealistic goals, underestimating or overestimating competitors, and being influenced by external factors. To avoid anchoring effect, marketers should seek multiple inputs, compare different options, and reevaluate their assumptions.

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H. B. Adediran Olaiya, M.A. (Merit) in Human Rights, DMS

UNESCO Inclusive Policy Lab Expert
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I especially concur with the last sentence in this section. Increasingly civil society is adopting multi level stakeholder participation at grass roots as well as academia and professional levels for decision making and steering management. This is in accordance with SDG 16 of the 2030 Agenda for Sustainable Development.

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4 Framing effect

Framing effect is the tendency to be influenced by the way information is presented rather than by its actual content. This can lead to different reactions or choices based on how the same information is worded, emphasized, or structured. For marketers, framing effect can result in creating biased messages, appealing to emotions rather than logic, and neglecting the context and consequences of their actions. To avoid framing effect, marketers should use clear and consistent language, provide balanced and factual information, and consider the ethical implications of their communication.

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H. B. Adediran Olaiya, M.A. (Merit) in Human Rights, DMS

UNESCO Inclusive Policy Lab Expert
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Absolutely, e.g framing the SDGs in the context of human rights as opposed to solely the environment and climate change can lead to more equitable outcomes. E.g. SDG 10 is primarily concerned with reducing inequality within and between countries, unfortunately we have seen growing inequality within and between countries globally in recent years.

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5 Sunk cost fallacy

Sunk cost fallacy is the tendency to continue investing in a project or decision that has already incurred significant costs, even if it is no longer profitable or desirable. This can lead to wasting time, money, and resources on something that cannot be recovered or improved. For marketers, sunk cost fallacy can result in sticking to outdated or ineffective strategies, ignoring new opportunities, and being reluctant to change or innovate. To avoid sunk cost fallacy, marketers should evaluate their decisions based on their current and future value, not on their past investment, and be willing to cut their losses and move on.

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6 Hindsight bias

Hindsight bias is the tendency to believe that we knew or could have predicted the outcome of an event after it has happened. This can lead to overestimating our own foresight, underestimating the role of chance, and learning the wrong lessons from our experiences. For marketers, hindsight bias can result in being overconfident in their predictions, ignoring the uncertainty and complexity of the market, and repeating the same mistakes. To avoid hindsight bias, marketers should document their reasoning and expectations, test their assumptions, and seek feedback and improvement.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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H. B. Adediran Olaiya, M.A. (Merit) in Human Rights, DMS

UNESCO Inclusive Policy Lab Expert
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Greater consideration to addressing systemic racism including Afrophobia remains imperative. The IDPAD 2015 - 2024 has not been given the publicity it should have, by public and private sectors in most UN member states.

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What are the most common critical thinking mistakes made by marketers?

1

2

3

4

5

6

7

1 Confirmation bias

2 Availability heuristic

3 Anchoring effect

4 Framing effect

5 Sunk cost fallacy

6 Hindsight bias

7 Here’s what else to consider

Creative Strategy

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What are the most common critical thinking mistakes made by marketers?

1

2

3

4

5

6

7

1 Confirmation bias

2 Availability heuristic

3 Anchoring effect

4 Framing effect

5 Sunk cost fallacy

6 Hindsight bias

7 Here’s what else to consider

Creative Strategy

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