TED TALKS BARRY SCHWARTZ CHOICE HOW TO

But as I was inferring, it's even more critical for innovators.īecause when launching a product that your market doesn't fully understand yet, you need to find the fabled product-market fit. Dell, 55 Models to chose from, barely distinguishable one from another.Īll this is a general principle when trying to sell something to someone.

Not convinced? Just try to buy a computer online from Dell. What will not work for sure is not resolving the number of choices a customer should face and letting him decide. Lastly, and only maybe 5% of the time or less, if we're in a high-level B2B offer dealing with a complex company process, only then I would consider a tailor-made approach akin to consulting (being aware that we quickly get diminishing returns when trying to extend customization too far).Then, 15% of the time, if we're on a breakthrough claim or state-of-the-art technology, then go bold with only one flagship offer (think Apple or Tesla).If you're slightly off (which is often the case), it's easy to transition to BC D (upsell) or XAB (downsell). 80% Of the time, start with a focused three-tiers offer (ABC), where A is a simple version, B is the core offer, and C a premium/fully upgraded version.In my experience, when helping a customer formulate an offer for an innovative product (in B2B or B2C), I follow this simple heuristic: Whereas, as Barry Schwartz explained, picking milk in a supermarket shouldn't force you to browse at 120 options. The more complexity and the more understanding, the more choice might be necessary. The core nuance is that the amount of choice you should offer to a customer depends on how complex the problem you want to solve for him is, factored by how much understanding he has of his own problem.

TED TALKS BARRY SCHWARTZ CHOICE HOW TO

Without entering into the debate of knowing if the behavioral research at the core of the claim was legit or not, how should you decide how to apply this concept – and we'll see right after why it's so important for innovators? Not that the insight doesn't have merit, but it's more the relentless lack of nuance that gets old very quickly. So sure, as with many American business ideas, it's all about overselling a core concept. The viral idea of the paradox of choice was born (and yes, the book became a best-seller too). (.) Instead of increasing our freedom to have what we want, the paradox of choice suggests that having too many choices actually limits our freedom. The paradox of choice stipulates that while we might believe that being presented with multiple options actually makes it easier to choose one that we are happy with, and thus increases consumer satisfaction, having an abundance of options actually requires more effort to make a decision and can leave us feeling unsatisfied with our choice. So, my reflection isn’t surprising at all, but it is a good reminder that I haven’t updated my success statements in a while.In a video made famous in 2007, when TED Talks still seemed amazing, Barry Schwartz made the case for limiting options and choices all around us. But this was content that was absorbed into who I am and how I approach my life now. Of course, I still envy people sometimes and I still let some decisions pass by me. It fundamentally changed how I viewed decision making and helped me become a lot kinder to myself about my career and the things I want to achieve. Overall, this is one of the activities that had a lasting impact on how I function in the world. I have also read his book, The Paradox of Choice, to gain greater understanding about all this.

I included some of that i n a post at the time. Since the activity, I had a wonderful chat with Barry Schwartz back in 2014 that was mainly focused on choices and what I got from his talk for the activity. It was also interesting digging into my statements of success and realising some of the less helpful ideas I was holding that really were not mine. This activity hit me pretty hard at the time - it’s a bit shocking to realise how passive you have been in the major decisions of your life! I’ve reflected on that pretty significantly at the time, so I won’t repeat it here.

Ted talks barry schwartz choice