Product Development

Risk Aversion

We don’t like uncertainty and generally stick to what we know

Picture Superiority Effect

We remember images far better than words

Analysis Paralysis

Our capacity to process information and make decisions reduces with each made

IKEA Effect

We’ll pay disproportionately more for something we’ve helped create

Confirmation Bias

We look for information that supports our existing beliefs and ignore what doesn’t

Sunk Cost Bias

We’re unable to let go of our past bad investments, even if it makes sense to do so

Collection Bias

We have an emotional need to amass sets of related items

Goal Priming

When we’re reminded of our aims, we're more motivated to reach them

Availability Bias

Our judgements are heavily influenced by what comes to mind more easily

Product-Person Bias

We look for and value human connections in our products

Pairings

Product Development

Design for immediate needs

We're hardwired to overvalue things we can get right now, over those that are delayed.

Payment provider Stripe have designed for this with Instant Payouts - allowing customers to get immediate access to their cash in 30 minutes (even at weekends) instead of waiting 2-3 business days. A 1% fee is charged for the convenience.

Where can you design for immediacy in a way that people will provide unique value? What features do you already have that could be particularly time-sensitive?

Product Development

Provide a means to share goals and reach them together

Goals shared can act as a powerful collective motivator. New accountability apps like FocusMate provide a service to connect two people, share goals up front on video and spend the next hour working towards them.

How can you being people together to share their goals and reach them together?

Product Development

Use distinction to foster uniqueness

There are many ways to convey scarcity. If you have a range of products that are all similar in visual characteristics, consider exploring how a limited edition can feel especially valuable through the use of contrast. A rare black item amongst an otherwise white collection.

Where can you use contrast both dramatically and sparingly to harness its unique power?

Product Development

Risk Aversion

We don’t like uncertainty and generally stick to what we know

Picture Superiority Effect

We remember images far better than words

Analysis Paralysis

Our capacity to process information and make decisions reduces with each made

IKEA Effect

We’ll pay disproportionately more for something we’ve helped create

Confirmation Bias

We look for information that supports our existing beliefs and ignore what doesn’t

Sunk Cost Bias

We’re unable to let go of our past bad investments, even if it makes sense to do so

Collection Bias

We have an emotional need to amass sets of related items

Goal Priming

When we’re reminded of our aims, we're more motivated to reach them

Availability Bias

Our judgements are heavily influenced by what comes to mind more easily

Product-Person Bias

We look for and value human connections in our products