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What Persuasion and Anchors Have in Common

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In a previous post, I wrote about the concept of anchoring: When it comes to numbers, we “anchor” to whatever number we hear first regarding a specific topic. Click here for more details.

Another component of anchoring, and one that is much more difficult to control but still worthy of consideration, is that of unrelated anchors. This can occur when numbers with no relevance to your initiative can nevertheless influence your target’s thinking.

In one study, participants were shown a bottle of wine and asked to estimate the highest dollar amount they would pay for that particular bottle. Before they wrote down their bid, subjects were asked to jot down the last two digits of their social security numbers. Those that had the highest social security number digits also bid the highest for the wine. The participants anchored to a totally unrelated number, which influenced their response.

If you are presenting numbers for the first time in a meeting, take into consideration whether your target is being exposed to other numbers prior to your presentation. If so, those numbers could impact the perception of your request. If you can adjust the agenda to give your good idea the best chances of success, do so.

Working With Numbers and the Concept of ‘Anchoring’

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When it comes to numbers, we “anchor” to whatever number we hear first regarding a specific topic.

• The new manufacturing plant will cost $35 million.

• The marketing initiative will take $5 million of our budget.

• The new training program is going to run us $550,000.

Now, whenever we think of these initiatives, we will rightly or wrongly compare any cost figures to those. In fact, not only do we anchor, we compare and contrast, too.

Say, for example, you are quoted a price for a new training program. Next, you compare all subsequent figures you see and hear, relative to that first figure. And then, another fascinating psychological occurrence happens: The principle of contrast kicks in. If the first dollar amount you were quoted was $550,000 for a training program, and the next one is $750,000, that cost seems even higher than it actually is, because you are comparing it to your anchor of $550,000.

If you’re vying for approval on a budget, and you have numbers to share, always share a range of numbers early in your communication, and make sure those numbers are generous. That way, subsequent numbers won’t seem quite as high, because you’ve already anchored your targets to a numerical set.

Similarly, if you’re trying to dissuade someone from following a particular route, make certain early conversations use lower numbers, which will make subsequent numbers seem even higher by comparison.

Remember, though, that your numbers must always be two things: real and legitimate.

Next time: How do you control unrelated anchors?