Anchoring Effect Principle
People frequently act illogically, making their behavior difficult to predict. And, they rarely take the time to learn the full facts before taking action. Instead, people tend to unconsciously latch onto the first fact they hear, basing their decision-making on that fact… whether it’s accurate or not. This phenomenon is called anchoring.
Here’s everything you need to know about the anchoring effect, plus all other important principles and theories that can supercharge your marketing and influence people to buy your products or services.
What is the anchoring effect?
The anchoring effect is the principle that people tend to unconsciously latch onto the first fact they hear, basing their decision-making on that fact ... whether it’s accurate or not. This phenomenon is called anchoring.
The anchoring effect can work for you or against you. It’s one of the most important effects in cognitive psychology. When anchoring works for you, it becomes easier to market your company’s products or services. When anchoring works against you, it’s increasingly difficult to do so.