The Irrational Mind | With Kristen Berman
What a former Booking.com product leader says about testing | Kristina Gibson (Director of Product, Booking.com)
Jan 19, 2025
Kristina Gibson, an accomplished product leader with experience at Booking.com, Lyft, and Eventbrite, shares her insights on user growth strategies and A/B testing. She discusses when to rely on experimentation versus making bold strategic decisions. Kristina reveals the psychology behind last-minute purchases and how showing unavailable options can paradoxically drive conversions. The conversation dives into the power of micro-details in product listings and the delicate balance between user preferences and innovation risks. A treasure trove of strategies for shaping user behavior!
39:17
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Quick takeaways
- Displaying sold-out properties creates urgency, compelling customers to make faster decisions and driving higher conversion rates.
- Understanding the difference between revealed preferences and latent demand enables product innovation through exploring customers' unexpressed desires.
Deep dives
The Impact of Scarcity on Consumer Behavior
Displaying sold-out properties can actually increase conversions by creating a sense of urgency among potential customers. This tactic instills a mindset that time is of the essence; if a desired item is unavailable now, it may be gone if they wait too long. Such strategies leverage psychological triggers, making customers desire what they cannot have even more. A practical illustration is when people plan trips and have set dates; the knowledge that something is sold out compels them to make quicker decisions on available options.
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