Understanding Behavior and Structuring Choices to Maximize Value of the Customer Experience Ecosystem

Behavioral economics can not only provide further insight into the less than completely rational behavior of customers; it can also help improve customer experience, reduce customer effort, incentivize profit maximizing behaviors and enhance long-term customer lifetime value. This article looks at examples of behavioral techniques and the research from some of the world’s leading economic minds that support the benefits of these approaches in a customer experience setting.

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