Hey there!
Welcome back to Kwerks. Here’s what you’ll find in today’s newsletter:
A behavioral science-based marketing tip.
Some marketing wisdom. 😇
An exciting marketing job opportunity.
Previous Tip: How to give the perfect gift with behavioral science (All tips here)
📈 Recommendation
When conducting a contest, keep the prize items uncertain.
🎓 What do studies say?
Research shows that when deciding which reward path to take, we’re risk-averse. Which means humans prefer an award that they are sure to get.
But despite all this craving for certainty, newer studies show that uncertainty holds more power when motivating people to do certain tasks. Uncertainty about positive outcomes gives us feelings of excitement and enjoyment. This increases motivation to complete the task at hand.
And since then research conducted on uncertainty simply builds on this, showing that we’re more motivated to reach goals when the reward is uncertain than when it’s certain. It’s even the case if the uncertain reward is worse than the certain one!
🧠 How it works
One of the studies asked some participants to drink a large amount of water within two minutes. Some people were told they’d get guaranteed two dollars, , and others were told they’d receive either one or two dollars, based on a coin toss. At best, they’d receive the same award, or half of it.
The results were staggering - those in the latter group where the reward was uncertain completed the task 70% of the time. Those with a certain reward only completed the task 43% of the time. Remember that this is despite the fact that the uncertain reward is potentially lower! It’s clear from this study that uncertainty increases motivation.
Just by adding an element of uncertainty into the reward system, an additional 27% of people were motivated to complete a task.
🔧 How to implement this?
Uncertain gifts in a contest - Next time you conduct a marketing campaign around a contest, have an uncertain reward for the users. This will increase the involvement of the users.
Boost loyalty programs with uncertain rewards - Consider adding an uncertain reward to your loyalty/referral programs. This will create a positive experience and encourage them to achieve the goal even if it is uncertain.
Note: This effect will lessen as the rewards get bigger.
🧙🏽♂️ Kwerky marketing wisdom!
“Marketing takes a day to learn. Unfortunately, it takes a lifetime to master” - Phil Kotler
You can learn the most famous marketing tools out there, in a day. But if you don’t practice, experiment, fail and make it better, you’re doing it all wrong.
Marketing is not about tools. It’s all people.
📬 Marketing Job for you!
Coiled - B2B Marketing Campaign Manager
If you know someone who would be perfect for the job, please share it with them. :)
More marketing job opportunities here!
Looking for a marketer? Post here.