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NEWS9 November 2015

Behavioural economics approaches enhance outdoor

Behavioural economics Media News UK

UK — Using behavioural economics (BE) principles such as scarcity, social proof and loss aversion can improve the effectiveness of outdoor ads, new research has claimed.

A study has revealed that shoppers who were shown different poster treatments, using different combinations of rational and emotional appeals and behavioural economics concepts, responded best to a poster that used the behavioural principles of loss aversion (fear of missing out) and scarcity (product only available for a limited time). That poster reportedly generated 154 trials of a product — edible insects — over the two-hour period that it was displayed, compared with 67 for a more traditional poster that made rational appeals, and 34 when there was no advertising at all.

It was also concluded that the visual nature of the poster supports the idea that images are processed more quickly and unconsciously than text.

The research was carried out in a shopping centre by outdoor specialists Kinetic Worldwide in collaboration with Ogilvy & Mather’s behavioural economics unit, #ogilvychange, media provider JCDecaux and edible insect producer Grub.

More information on the experiment can be found here.

@RESEARCH LIVE

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