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There’s only one reason why your customers aren’t buying.

Status Quo Bias.

Which means I have some good news and bad news for you.

The bad news? For them, doing nothing is better than doing something. Choosing not to proceed is better than proceeding.

The good news? Now that you know that we can do something about it.

Take this ad from Apothecary, for example. They’re trying to replace using wine to wind down with their herbal remedy.

So, what are they doing well,...

I've been having serious computer issues recently – repeated crashes and lots of frustrating downtime. 

The immediate cause is iMovie, the video editing software I use. I've been putting up with these problems because I know how to use the software and all my videos are stored there

However, this isn't just a technology issue; it's a behavioural one. 

I'm sacrificing productivity and sanity for the comfort of familiarity. 

By clinging to what I know, even though...

Years ago I switched to a left-handed mouse. 

It occurred to me that using my right hand was inefficient: I'd have to stop writing or typing, move my hand to the mouse, click what I needed, and then return to the keyboard or pen. Meanwhile, my left hand sat idle.

We often do things because they seem natural or conventional. But in doing so, we miss other resources, opportunities, and answers.

This principle applies to understanding customer behaviour too. 

The prevailing...

It costs less to retain than acquire a customer.

But you know that already.

The Australian Communications and Media Authority cited research that:

• Increasing retention by only 2% has the same effect on profits as having to cut costs by 10%;
• Reducing defection by 5% can increase profits by as much as 125%; and
• It costs 5-7x as much to acquire as retain customer.

Added to that, a customer leaving is unnatural. Why? We're built to leave things as they are. It's our status quo bias.

So if...