When it comes to making decisions, we often unconsciously consider things that are comfortable and familiar.  Things like our beliefs, previous choices and set routines stick with us like glue to form our own personal Status Quo. Which means we have a disproportionate value for what we know and are inclined to navigate towards pre-set options even if other options are available or potentially better for us.

There are no other beans than Heinz

Heinz influences this bias through many of its advertising campaigns. It uses language that encourages consumers to stick to what they know in buying heinz. The ‘Beanz meanz Heinz’ campaign creates that shortcut for people, they need beans it’s heinz. Other slogans like, ‘the right choice’, ‘it has to be heinz’ all

support people sticking to that habit of what they purchase, disencouraging them to try anything else.  

JKR - Heinz Beanz
JKR - Heinz Beanz

Banks depend on status quo for customer retention

Lloyd’s, like most banks do not want their customers to switch to another bank. They want them to stay with them because they prefer things to stay the same. They do this through their communications of heritage, ‘by your side for over  250 years’ ‘by your side for your next step’. Reinforcing that the consumer should stick with them as their choice

On the flip side of this, this is why some banks do campaigns around switching, to challenge that status quo and encourage a change. But, the bias around staying with you bank is so strong that this usually requires a mixture of reassuring “ease of switching” messages and a financial incentive to work.

Dean Rogers’ second series for Lloyds Bank 250th Year campaign
Dean Rogers’ second series for Lloyds Bank 250th Year campaign

What is Behavioural Economics?

Behavioural Economics has been around since the 60s. It blends elements of psychology and economics to identify the mental triggers, or bias, nudges and heuristics, that affect the decisions people make.

This blog series is your go-to guide for a snapshot into what these triggers are, and how they can be used in marketing to influence consumer behaviour.

A bit about us

As an agency, influencing behaviours is core to what we do and applying Behavioural Economics to marketing communications is a natural progression. If you are interested in understanding more about how we do this get in touch now.

Find out more about the connection between consumers and behavioural economics in our latest report on the top trends driving consumer behaviour. Download it here.

By Phil Monks

Deputy Creative Director