Behavioural Biases 101

In this article, we're talking about behavioural biases and how they can impact our decision-making and judgement when it comes to doing creative work. 

 P.S. Have you got my Big Behavioural Bias Guide yet? It's free!

Behavioural biases are cognitive biases that can impact our decision-making and judgment, often leading to irrational choices. These biases are based on the ways in which we process information, perceive and interpret the world around us, and make decisions based on our values and beliefs.

There are maaaaany different behavioural biases that can impact strategy, but here are five of the most common ones: 

Confirmation bias: This is the tendency to search for, interpret, and remember information in a way that confirms your pre-existing beliefs or hypotheses, while ignoring information that contradicts them. This can lead to a lack of openness to new ideas and perspectives, and a failure to consider all possible options when developing a strategy.

Overconfidence Bias

We often overestimate our own abilities and the accuracy of our predictions, while underestimating the level of uncertainty involved in a situation. This can lead to a failure to adequately plan for potential setbacks or challenges and can result in strategies that are overly optimistic and unrealistic.  

Anchoring Bias

This is the tendency to rely too heavily on the first piece of information encountered when making decisions and to use that information as a reference point for all subsequent decisions. This often results in a failure to consider alternative options and can result in strategies that are overly influenced by initial assumptions and biases.

Status Quo Bias

We tend to prefer the safest options over other possible options, even when those options may be more beneficial in the long run. This can lead to a reluctance to change or adapt strategies, even when doing so may be necessary to achieve the desired outcomes.

Social Herding

We have a knack of conforming to the opinions of others, rather than making independent decisions based on one's own analysis and judgment. This can often cause a lack of critical thinking and independent analysis when developing strategies, resulting in strategies that are overly influenced by groupthink rather than objective analysis.

The Bottom Line

There are hundreds of biases, and they are extremely useful when working in marketing, design, UX or anything where you’re working with or influencing an individual’s behaviour. Download my Big Behavioural Bias Guide free here for over 50 behavioural biases with explanations and examples!

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