Confirmation Bias on Customer Retention | Behavioral Economics in Marketing Podcast

Confirmation bias is the tendency to process and analyze information in such a way that it supports one’s pre-existing beliefs, ideas and convictions. One of the most important uses of Confirmation Bias in marketing is in customer retention or repeat buyer programs because there are several touchpoints along the customer journey where marketers can leverage Confirmation Bias to increase the customer retention rate and repeat purchase behavior.

Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.

Sandra Thomas-Comenole | Host | Marketing professional with over 15 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism