Using data psychology to drive sales | Chief Data Scientist | Co-Founder of Kubik Intelligence | Advisory Board Member at UoN Business School | Certified Member of The Market Research Society
🎁 𝗛𝗮𝘃𝗲 𝘆𝗼𝘂 𝗵𝗲𝗮𝗿𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗶𝗱𝗲𝗿𝗼𝘁 𝗲𝗳𝗳𝗲𝗰𝘁? (And why it can be useful for any e-commerce business...) Imagine this: you just bought a new sofa and suddenly you started questioning the layout of the entire living room. The walls need to be repainted, the rug doesn't quite match the sofa colour and what about that coffee table - it should be replaced with a different shape. 🎉 Congratulations - you've just become a victim of the Diderot effect: the phenomenon where obtaining a new possession often leads to a spiral of consumption. The story behind the Diderot effect originates from an essay written by the French philosopher Denis Diderot in 1769! Diderot recounts his experience of receiving a luxurious dressing gown as a gift - which then clashed with the rest of his modest belongings. So, he replaced his old furniture, artwork, and other items... Looking for harmony. However, this led to his massive discontentment and financial strain. We learned that there are 𝘿𝙞𝙙𝙚𝙧𝙤𝙩 𝙐𝙣𝙞𝙩𝙨: things that 'go together' and could be purchased at the same time. In data science, we can use 𝘼𝙨𝙨𝙤𝙘𝙞𝙖𝙩𝙞𝙤𝙣 𝙍𝙪𝙡𝙚 𝙈𝙞𝙣𝙞𝙣𝙜 to detect which products are most often bought together... Alternatively, consider which products/services complement your main star product. ...Or just remember this next time you decide to buy the new dress (and then earrings and shoes to match!) --- P.S. Feel free to REPOST if you find this post useful ♻️
Global Citizen | Marketing Leader | CRM + MarTech Strategy and Implementation
8moWas just reading about this in Atomoc Habits. Great insights!