Browsing Category
behavioral economics
39 posts
The Science of Holiday Gifting: Unwrapping what Really Drives our Buying Behaviors
Understand what Need State you are uniquely positioned to serve, and which consumer target is most likely to be seeking that emotional payoff.
Wiedemann: Where Eyeballs Are Going
For all of us in the fields of marketing and media we have always been taught (and seen for real) that dollars want to flow to where the right eyeballs are.
Every Single Cognitive Bias in One Infographic
The human brain is capable of incredible things, but it’s also extremely flawed at times.
Avoiding Five Big Cognitive Biases in Data Science (and Marketing)
Sometimes it is useful to be able to make some sense out of the world based on limited information. On the other hand ...
Marketing Psychology for the Win!
Crucially, marketing psychology picks up where behavioral science leaves off, exploring a much wider realm of psychological perspectives.
The Irony of Irony’s Influence on Consumer Behavior
Irony has an uncanny allure. And as we’ll see, irony not only captures our attention, but it also drives our consumer behavior.
The Irony of Irony’s Influence on Consumer Behavior
Irony has an uncanny allure. And as we’ll see, irony not only captures our attention, but it also drives our consumer behavior.
Behavioral Economics is dead – Long Live Behavioral Economics!
At this moment, behavioral economics is in market correction – we have passed the ‘peak of inflated expectation’, suffered through the ‘trough of disillusionment’ and are firmly on the ‘slope of enlightenment’ – now is the time we find the true value of behavioral economics.
How Social Media Influences the Decline in Shared Consumer Experiences
What are the consequences of a frayed social fabric, and why is it so important to have shared experiences?
Marketing Ethics: Free Will, Trust and Autonomy
Marketing is the exchange of value between consumers and the brand. Marketing ethics, then, pertains to transparency—how the brand is giving value to the consumer while also getting value from the consumer.
The Science of Authenticity and Social Influence
What does authenticity really mean? Is this authentic, true self that’s different and somehow more centered than our other ‘selves’? Where does style end, and authenticity begin?
The Psychology of Marketing to our Impulses
Seeing how naturally we can let emotion get the best of us, it should come as no surprise that the ‘impulse buying’ is a booming industry.
Republicans Buy Nikes Too
It starts with understanding the neuroscience of branding and how it is evolving in consumers' minds.
Conversations with TheCustomer: Matt Johnson & Prince Ghuman, founders of PopNeuro
Johnson and Ghuman are founders of "PopNeuro - a Neuromarketing Blog for the masses". You gotta love a website that opens with "A Neuroscientist and a Marketer Walk Into A Bar..."
Loss aversion: Why We Hate Losing More than We Like Winning
Not to get sentimental about things, but when it comes to the marriage of psychology and economics, loss aversion is perhaps their favorite offspring. The concept is simple, but powerful: We hate losing more than we enjoy winning.
The Behavioral Data Debate We Need
As we increasingly place our faith in behavioral data to solve major problems, the biggest question we face is not what we can do with it, but rather what we are willing to do.
Branding in the Age of Coronavirus Scarcity Part 2: New Research Methods to Make Brands Less Vulnerable
In light of the massive marketing environment shift, market research methodologies are changing rapidly to accommodate COVID-19 limitations.
Branding in the Coronavirus Age of Scarcity: 5 Predictions that Will Change Marketing
What happens when its increasingly difficult (or inconvenient) to get your favorite item, as now with the sudden market situation due to Coronavirus?
A Data-Driven Approach to Countering Coronavirus’ Irrational Emotions
In what ways do shifting sentiments, irrational emotions and the constant stream of coronavirus information influence market moves?
How a Time of Panic Buying Could Yet Bring Us Together
For every headline about panic buying, fighting and even arrests in supermarkets, we see other stories about communities and individuals rallying in support of each other. These interpersonal connections reveal our true humanity, especially in times of crisis.
HBR: Lead Your Business Through the Coronavirus Crisis
The economic impacts of Coronavirus are significant and many businesses are feeling their way towards understanding and strategy.
Sustainable Engagement Tips from Behavioral Science
Here are three ways we can apply lessons from behavioral science to drive sustainable engagement:
What Can Retail Marketing Learn from Live Gaming?
How can gamification - and live-gaming in particular - affect retail marketing thinking, budgets, and technologies?
It’s Not Always About Making Things Easier …
It may not always be the case that less UX friction translates to fewer obstacles for the end-user to overcome in order to use your product.
HBR: The Neuroscience of Trust
Maybe one of the most direct ways to evaluate trust is to measure its return. That is, what is the return on trust? What is the "RoT"?
Marketers Need To Be Aware Of Cognitive Bias
What really qualifies as rational thinking? There really is no right or wrong answer. Here are 50 cognitive biases to guide marketers' thinking.
Why Your Company has a Customer Empathy Deficit
Alex Allwood's new book, Customer Empathy, explores why empathy with customers is declining despite the growing focus on customer experience management.
Engaging Customers in the Micro-Attention-Span Age
Nobel-awarded economist Herbert Simon explains the attention giving process as ‘satisficing’, a combination of satisfy and suffice - so we give attention to things as we think they deserve.
Curiosity is Your Biggest Competitive Advantage
When a culture of curiosity exists amongst your consumer insights team, you ignite thirst for knowledge, and you create competitive advantages.
Why Are You on Sale When You Don’t Need to Be?
Now, with AI-enabled predictive modeling and a growing understanding of behavioral economics, companies are quite literally able to see into the pricing future. So why are you always on sale??
Narrative Economics: Paying attention to how the story is told
Narrative economics suggests that understanding how stories are being told can add significant weight to how they are processed and shared.
Extreme Experience: There’s No Market for Average Brands
Extreme experience means enlarging the pleasure-pain gap (PPG) of the customer experience as opposed to eliminating the pain points.
Emotional Loyalty As A Growth Driver
Rather than only rely on customer loyalty programs like reward cards and frequent flyer miles, brands need to go one step further by developing emotional loyalty.
Understanding The Nature Of Trust Is Only The Beginning
Brands can create trust dynamics with their customers and staff by understanding some simple neuroscience principles and designing experiences accordingly.
Five (Plus One) Must-Reads On Behavioral Economics
How digital strategy executives in financial services organizations apply behavioral economics principles to their financial well-being strategy
The Surprising Ways Behavioral Science Boosts Businesses
Spoiler: Behavioral science can motivate employees, boost productivity, and enhance your bottom line in unexpected ways
Narrative Economics How Stories Go Viral and Drive Major Economic Events
From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a new way to think about how popular…
Selecting Groceries Ahead of Time Helps Some Shoppers Make Healthier Choices
It might not be surprising to learn that self-control – or the lack of it – drives many personal decisions. It explains why people buy gym memberships and then rarely set foot in the gym, make poor snack choices and fail to save enough for retirement.
How Behavioral Economics is Killing Innovation
Offers are being made that will cause customers to change their selection from a lower-cost option to a higher-cost option even though they don’t need the added value, through psychological manipulation.