What CONSUMER PSYCHOLOGY tells us about SOCIETY

Adam Ferrier discusses the psychological principles behind the Benjamin Franklin effect and cognitive dissonance, explaining how these concepts can be leveraged by brands to foster stronger connections with consumers. By encouraging customers to engage with them, brands can enhance their likability and loyalty, even in the face of negative feedback. The discussion highlights the importance of favor exchange in building relationships and the underlying psychological mechanisms that drive consumer behavior.

He discusses:

The Benjamin Franklin effect suggests that doing favors increases likability.

Brands can enhance consumer loyalty by encouraging engagement.

Cognitive dissonance plays a key role in how we justify our feelings.

Even negative feedback can lead to increased brand affinity.

Engaging customers through reviews fosters a sense of contribution.

Psychological principles can be powerful tools in marketing.

Favor exchange is crucial in building brand relationships.

Understanding consumer behavior is essential for effective marketing.

Brands that listen to feedback can improve customer relations.

Creating opportunities for engagement can enhance brand perception.