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Behavioral influencers��

Stakeholder impact

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Commitment is the power of personal investment.��

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The more involved one is in creating something, the better the end product.��

Example:

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Consultants can bring stakeholders into the process, right from the start.

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Getting them involved early will ensure stakeholders are committed to the project’s success.��

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Social proofing is the power of social influence.��

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People make decisions based on what those around them are doing.

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Example:

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Consultants can use social proofing to add credibility to their ideas.��

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Presenting case studies of similar sized organizations’ success can build social proof for what is being proposed.

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Overconfidence is where subjective confidence in our abilities and judgements outweigh the actual potential of either of them.

Example:��

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Most stakeholders value themselves and their teams as above average.��

Questioning them on the same could make the leaders feel uncomfortable and will obviously not help the argument.��

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Hyperbolic discounting is the overwhelming preference for immediate payoff, even if a latter benefit is better in absolute terms.

Example:

Consultants can ease adoption-friction amongst stakeholders using hyperbolic discounting.��

Offering measurable and immediate results can build commitment to the project and the long term payoffs.

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Loss aversion where people go to great lengths to avoid the loss of something they already have.��

Example:

Consultants can expedite decision-making by articulating ideas that emphasize on possible loss, rather than gains.��

Thus, stakeholders will imagine the solution in terms of what they already have (and don’t want to lose).

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Halo effect��suggests that people make assumptions about ‘the whole’ based on what information or perspective they have access to.

For instance, if a person is friendly one assumes they are generous as well. Or, if a sentence is difficult to read, people are likely to disbelieve the statement itself.��

Example:

Consultants can explain complex concepts in a simple manner – making them actionable. Making the smaller parts stronger /easier to believe can influence both how the whole project is perceived and commitment is obtained.

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Power of arousal is when people underestimate their visceral drives, attributing their decisions to rational forces.��

Example:

Meeting customers over lunch or coffee could help the stakeholder associate the satisfaction of the meal with the value of the project under discussion.��

Don’t negotiate with a hungry client!��

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Partitioning is when people can be nudged towards certain behaviors by making their journey easier or tougher.

Supermarkets, for example, increase the cart size to influence customers to buy more.��

Example:��

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Make the first step easy for the stakeholder so they commit to the decision-making process.

For example, getting a client’s buy-in for one small activity, instead of five complex projects.��

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Liking is making decisions based on if the person involved is ‘likable’.

Example:��

Consultants must find commonalities with their stakeholders and build trust – with that trust, ‘liking’ emerges.

This makes stakeholders more receptive to the consultant’s ideas and suggestions.

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Value perception is when the price dictates the value of anything, even when applied to seemingly identical products.

Example:��

During negotiations, consultants must make the value of their offer clear.��

This works as a frame of reference while offering discounts or preferential pricing.

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Temptation is when emotions influence our decisions more than we would like to admit.

Example:

Consultants should be sensitive to their stakeholders’ emotional state before presenting ideas.��

A tip: it helps to switch context to clear baggage from past conversations.��

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Scarcity value is when people value things that they perceive to be more difficult to acquire.

Example:

While negotiating, consultants can expedite decisions by stressing on scarcity and the opportunity-cost of not making a decision.

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Relativity is the theory that people make judgements relatively within context but not absolutely.

Example:

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Consultants must set context and work on ‘building up’ to the offer.��

Offering up examples will help stakeholders imagine the proposed solutions in relation to something they are already comfortable with.��

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Framing (asymmetric choices) is the way in which a question is framed or an offer is presented which will elicit the expected response.

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Example:

Consultants must carefully design how they present potential solutions to stakeholders.��

Not only should they carefully choose their words but also the supporting visuals.

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Consistency suggests people behave in accordance with their self-image. An image that evolves, albeit unconsciously.��

Example:��

A counterpoint is how priming can influence the self-image. For example, a jewelry store’s expensive setting can elevate one’s self-image resulting in sales.

Consultants should present a consistent experience for customers by clearly setting standards and consistently meeting them.��

Over time, this will ensure the customer’s expected outcomes meet the established standards.

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