INSIGHT
But this is only half the story. Once the customer has added the product to their shopping cart, how do we encourage them to complete the purchase? One way could be changing the product’s appearance in the cart to suggest a move from the retail space to the shopper’s personal space, thereby playing up the endowment effect. For our soft drink, this could be done by using a product tile that: l Shows the soft drink in a refrigerator l Suggests the sensation of reaching out or holding the drink. We believe this simple move could reduce cart abandonment by a substantial amount. This is the beginning of a significant shift in marketing that will see organizations creating micro-commercials that can drive viewers to approach, like, and want their products in less than a second. Our neuroscience research continues, and further investigation will discover how different industries can apply this framework.
Stimulus
0ms
Emotional Pathway Visual Processing Stream
350ms
Avoid
Core Category Need
Approach
Opioid, Neurotransmitters
450ms
Read the full paper ‘Final Seconds of Decision Making of an E-commerce Transaction’ accepted by the Conference on Cognitive Computational Neuroscience 2022, San Francisco (CCN 2022)
Past Experienced Utility
Liking
Dopamine
920ms
‘Wanting’
Incentive Salience - Emotional Benefit - Perception of Reward
~ 1s
Biju Dominic Chief Evangelist at Fractal
Action
As a chief evangelist of Fractal and chairman of FinalMile Consulting, Biju is playing the new game that is emerging at the intersection of human and machine intelligence. He is driven by the belief that the more we understand the inscrutable algorithm in our brains, the better the technology we develop for our machines will be.
Figure 1: The Final Second Framework
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