How Apple and Aldi address behavioural barriers

It’s one of the great ironies that behavioural economics has a behavioural economics problem. Specifically, choice paralysis. When push comes to shove and you have to do something to improve your business — create a marketing campaign, write an email, have a conversation, prepare a pitch — it can seem too overwhelming to know which behavioural principle to use, and how. My advice? Keep it simple. Focus on the three barriers to people taking action: Apathy: too lazy; they can’t be bothered (a.k.a. System 1); Paralysis: too overwhelmed; they are confused (a.k.a. paradox of choice); and Anxiety: too scared; they are worried about proceeding (a.k.a. loss aversion). ….[READ]