Why items with a 99% rate of success sell more than items with a 1% rate of failure | karemmieses.com

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Why items with a 99% rate of success sell more than items with a 1% rate of failure

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It seems crazy, but it’s true.

The exact same product, with the exact same functions and statistics, will yield varying results depending on how it’s first introduced to the market.

As demonstrated in a research study led by Benedetto De Martino from the Institute of Cognitive Neuroscience at Cambridge University,

‘human choices are remarkably susceptible to the manner in which options are presented. This so-called “framing effect” represents a striking violation of standard economic accounts of human rationality, although its underlying neurobiology is not understood.’

The human brain will process any given situation in relation to the circumstances around which it is presented, also known as the frame.

This explains why “getting dumped” feels worse than “breaking up,” even though both phrases are used to refer to the ending of a romantic relationship.

 

Dumping will likely make you think of trash by association, as opposed to breaking, which is generally a natural reaction to undue pressure. One implies worthlessness in the individual, whereas the other softens the blow by focusing on outside forces.

By the same logic, a “99% rate of success” is more appealing than a “1% rate of failure” because the former is framed by desirable circumstances.

A glass that’s half full implies that there’s room for more but one that’s half empty might induce some panic because now you’re thinking of diminishing resources!

How is framing useful in your everyday life?

1. Communication Tool.

Words are powerful and the manner in which we use them will invariably affect the outcome of our communication efforts.

The words that you choose to describe a given idea or situation will frame the context in which it’s perceived. Those words will determine whether the listener will receive your message favorably or not, or if they don’t dismiss it altogether.

Framing goes beyond individual words and vocabulary, however. You can use stories to put across your message, shared experiences as well as images, contrasts, and comparisons.

A great example is the unprecedented success of the iPod. It is generally linked to Steve Jobs’ famous presentation of “1000 songs in your pocket,” which customers understood and related to more easily than the more technical description of its selling point, that is, “1 GB of storage space.”

2. Coping Mechanism.

When we face challenges and shortcomings in life, the stories that we tell ourselves and the meanings that we choose to attach to the situation ultimately determine how crushed we are, and how soon we are able to move on and push forward, if at all.

Was it a mistake or a learning experience? Is the negative feedback you received a confirmation of your lack of skill or an opportunity to get better? Does a failed relationship mean you’re unlovable or just incompatible with that one person?

No matter what situation you’re dealing with, how you frame it will determine how you feel about it and the resulting decisions you’ll make, so choose wisely.

Framing into practice

Let’s put this concept to practice by re-framing 5 questions that commonly sabotage our business success. I coach my clients through the process of reframing low-value/ low-energy questions into high-value/high-energy questions whenever they start sabotaging with negative self-talk about their businesses.

  1. Why no one buys from me -> re-frame -> What can I offer to truly serve my people?
  2. Why if they think I am a fraud -> re-frame -> How can I focus on helping my tribe to fulfill their needs/wants?
  3. How can I compete with ______?-> re-frame -> How would I behave if I was the best at _____? stop comparing
  4. Why is it taking so long? -> re-frame -> How can I add value to someone’s life today?
  5. Why didn’t I start sooner? -> re-frame -> What skill do I need to learn to better serve my tribe?

THE TAKEAWAY

Low-value questions leave us depleted of energy if they are not reframed within minutes. Seriously? Yes, the more negative/open-ended questions we have in our mind, the more we are forcing the brain to find a resolution to that question.

The brain’s job is to find answers. Therefore, if we overexert our brain into looking for solutions to a negative positioning of ourselves, the process will bring our own energy down, inevitably leading to low-value actions.

The positive side to all this is that now that you know, you have the capacity to enter into awareness mode.

Awareness will allow you to reframe those negative questions into high-value/empowering questions to get rid of low-value questions.

The result is outstanding because your brain will start to look for solutions to a positive outcome. In turn, the process now will bring your energy level up because you will be in the position to take high-value action.


SOURCES

https://www.researchgate.net/publication/6898981_Frames_Biases_and_Rational_Decision-Making_in_the_Human_Brain

https://www.theguardian.com/science/head-quarters/2017/jul/20/the-power-of-framing-its-not-what-you-say-its-how-you-say-it

http://journals.plos.org/plosone/article?id=10.1371/journal.pone.0016782

https://www.inc.com/carmine-gallo/1-irresistible-pitch-tip-that-worked-for-steve-jobs-google-founders.html

  1. hickoryfoodfactory.com

    September 27th, 2019 at 6:28 am

    Pretty! This has been a really wonderful article. Thank you for
    supplying this information.

  2. Karem Mieses

    October 10th, 2019 at 11:20 am

    So glad that you enjoyed it!

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