Podcasts about what your customer wants

James White shares his favourite sales books of 2024, highlighting six impactful reads that can enhance your sales skills and understanding of customer behaviour. He emphasizes the importance of learning from these books to improve sales strategies and achieve better results. Among the recommendations is "What Your Customer Wants and Can't Tell You" by Melina Palmer, which delves into behavioural economics and how it influences buying decisions. James also discusses "Copywriting Secrets" by Jim Edwards, a guide to crafting compelling copy that drives sales. The episode wraps up with a motivational story about Alain Robert, the French Spider-Man, inspiring listeners to embrace bravery and push boundaries in both business and life.Takeaways: James emphasizes the importance of understanding customer psychology to enhance sales strategies effectively. He recommends reading a variety of insightful books to improve sales and business acumen. The concept of loss aversion, as discussed in Melina Palmer's book, plays a crucial role in sales effectiveness. Effective copywriting is essential for business owners to communicate value and engage customers. James highlights the significance of mastering the art of writing compelling sales copy. He encourages listeners to read consistently, suggesting a goal of 20 pages per day for personal growth. Frustrated by missing sales targets? Struggling to hit your sales goals month after month? Stop guessing! Our scorecard reveals why you're falling short. Take it now https://www.missingsalestargets.com/Enjoy the podcast, and why not get in touch to tell us what you would like James to cover in future podcasts, if you've enjoyed the podcast, please give us a review.

This episode is packed with must-read books for higher ed marketers and leaders. Mallory and Seth each share their top three book recommendations and explain why these reads are game changers for anyone navigating innovation, strategy, and leadership in the higher ed space. From timeless classics like Crossing the Chasm to inspiring tales like Shoe Dog, this episode is full of insights to help you think differently about marketing, leadership, and innovation. Tune in for their thoughtful book breakdowns, plus a bonus challenge to share your own recommendations!Register for the AI Engage SummitBook recommendations:What Your Customer Wants and Can't Tell You - Melina PalmerWatch Melina's Engage Summit KeynoteCrossing the Chasm - Geoffery Moore 10 Types of Innovation - Larry KeelyShoe Dog - Phil KnightPrinciples - Ray DalioThe Hard Thing About Hard Things - Ben Horowitz - - - -Connect With Our Co-Hosts:Mallory Willsea https://www.linkedin.com/in/mallorywillsea/https://twitter.com/mallorywillseaSeth Odell https://www.linkedin.com/in/sethodell/https://twitter.com/sethodellAbout The Enrollify Podcast Network:The Higher Ed Pulse is a part of the Enrollify Podcast Network. If you like this podcast, chances are you'll like other Enrollify shows too! Some of our favorites include Generation AI and Confessions of a Higher Education Social Media Manager.Enrollify is made possible by Element451 — the next-generation AI student engagement platform helping institutions create meaningful and personalized interactions with students. Learn more at element451.com.Element451 is hosting the AI Engage Summit on Oct 29 and 30Register now for this free, virtual event.The future of higher ed is being redefined by the transformative power of AI. The AI Engage Summit brings together higher ed leaders, innovators, and many of your favorite Enrollify creators to explore AI's impact on student engagement, enrollment marketing, and institutional success. Experience firsthand how AI is improving content personalization at scale, impacting strategic decision-making, and intuitively automating the mundane tasks that consume our time. The schedule is packed with real examples and case studies, so you leave knowing how to harness AI to drive meaningful change at your institution. Whether you're looking to enhance student outcomes, optimize enrollment marketing, or simply stay ahead of the curve, the AI Engage Summit is your gateway to the next level of higher education innovation. Registration is free, save your spot today.

In this episode of The Brainy Business podcast, Melina Palmer explores the concept of defaults, how they impact our decisions, and the critical role they play in business and everyday life.  Melina discusses the omnipresence of defaults and how they influence our choices, often without us even realizing it. She explains the concept of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. Using examples from retirement savings to organ donation, Melina illustrates the power of defaults and the importance of thoughtful choice architecture in both personal and business contexts. In this episode: Understand the pervasive influence of defaults in everyday decisions. Learn about status quo bias and its impact on behavior. Explore practical examples of defaults in various contexts, including retirement savings and organ donation. Discover the ethical considerations in setting defaults and choice architecture. Gain insights into how to design better defaults to help customers and employees make beneficial choices. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and the topic of defaults, highlighting its relevance to her upcoming conversation with Nobel laureate Dr. Bob Lefkowitz. 03:15 - The Omnipresence of Defaults Melina discusses how defaults are everywhere and influence nearly every decision we make, often without us realizing it. 08:30 - Status Quo Bias An exploration of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. 15:45 - Retirement Savings Example Melina uses the example of retirement savings to illustrate the power of defaults and how different default options can significantly impact behavior. 22:00 - Organ Donation Study A discussion on the ethical considerations of defaults using the example of organ donation and how opt-in vs. opt-out policies affect donation rates. 29:15 - Practical Business Applications Melina provides practical advice on how businesses can use defaults to help customers and employees make better choices, emphasizing the importance of ethical considerations. 36:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: A Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D. What Your Customer Wants and Can't Tell You, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein Thinking Fast and Slow, by Daniel Kahneman What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Status Quo Bias (ep 376) Already Heard That One? Try These:  Unlocking the Secrets of the Brain (ep 1) Framing (ep 296) Priming (ep 252) NUDGES and Choice Architecture: Introduction (ep 35) Habits (ep 256) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

In this episode of The Brainy Business Podcast, Melina Palmer digs into the psychology of time pressure and its effects on decision-making. She explains how time pressure creates a sense of scarcity and triggers loss aversion in the brain, leading to impulsive choices, especially during holiday shopping. Melina shares strategies to combat this, like setting a budget and creating a gift list to resist impulse buying. She also delves into how businesses can use time pressure to drive sales but emphasizes the need to test different approaches.  Melina also touches on the impact of time pressure on creativity and productivity, highlighting the importance of clear communication to reduce misunderstandings and time pressure. Her advice is helpful for anyone looking to make informed decisions and resist impulse buying during holiday shopping. Plus, her insights on leveraging time pressure for business are equally valuable. So, if you want to understand the psychology of time pressure and how to navigate it, this episode is definitely worth a listen! In this episode: Discover the psychology of time pressure to understand its impact on decision-making. Explore the influence of time pressure on consumer behavior and decision-making processes. Learn effective strategies to resist impulse buying and make informed purchasing decisions. Uncover how to leverage time pressure in marketing to drive consumer engagement and action. Find ways to reduce time pressure for increased productivity and better decision-making. Show Notes: 00:00:00 - Introduction This episode introduces the topic of time pressure and its impact on consumer behavior and decision-making. Melina shares her personal experience of feeling time pressure while buying concert tickets. 00:03:35 - The Complexity of Decision-Making The subconscious brain makes the majority of our decisions due to its faster processing speed. However, considering every facet of a decision would be overwhelming. Time pressure can lead to less effective decision-making and reduce creativity. 00:07:41 - Time Pressure and Consumer Behavior Time pressure during the holidays can influence consumer behavior. Limited quantities, daily deals, and shopping cart clocks create a sense of urgency. Under time pressure, people are more likely to make impulsive purchases and choose familiar, expensive options. 00:09:52 - Shifting Decision-Making Under Time Pressure Time pressure can reverse how we evaluate choices. With plenty of time, we tend to be risk-averse and focus on the risks of making a choice. However, under time pressure, we become loss-averse and fear missing out (FOMO), leading to impulsive buying behavior. 00:10:43 - Tips for Managing Time Pressure To manage time pressure during holiday shopping, create a gift list with spending limits. Plan ahead and have a list of stores to visit or browse online. Having a plan helps resist impulsive purchases and stay within budget. 00:15:52 - Importance of Promotions and Offers Promotions and offers are beneficial for businesses as they help consumers make decisions. Time pressure can be incorporated through discounts or limited-time offers, creating a sense of urgency. Countdowns and limited quantities also drive action. 00:18:15 - Effect of Time Pressure on Consumer Behavior Time pressure impacts decision-making by shifting individuals from being risk averse to loss averse. The perception of limited time changes behavior and motivates action. People are more likely to act quickly when faced with the possibility of missing out on an opportunity. 00:20:25 - Black Friday Deals and Year-End Offers Small businesses should consider if participating in Black Friday or year-end offers is necessary or beneficial. While big retailers are expected to have such deals, small businesses might get lost in the clutter. It's important to be thoughtful and not feel pressured to offer discounts that may result in operating at a loss. 00:22:53 - Impact of Time Pressure on Decision-Making Time pressure causes individuals to focus on extremes and make decisions based on worst-case and best-case scenarios. This may lead to less creativity and accuracy in decision-making. Working with more time allows for better planning and higher-quality outcomes. 00:26:41 - Overcoming Mindset Blocks and Alleviating Time Pressure Constantly being under time pressure can hinder productivity and quality of work. Overcoming mindset blocks and planning effectively can alleviate time pressure and improve creativity and decision-making.  00:31:02 - Evaluating Time Pressure Taking time to evaluate the impact of time pressure and asking key questions can help make confident decisions and use time pressure to your advantage. 00:31:53 - The Effects of Time Pressure Time pressure can hinder creativity, openness to change, and solid work in businesses. Clear communication and reducing unnecessary tasks can help alleviate time pressure. 00:33:02 - Misunderstood Emails Misunderstood emails contribute to wasted time and decreased productivity. Improving email clarity and simplicity can help reduce time pressure. 00:33:39 - Tips to Reduce Time Pressure Implementing strategies like clearer communication, simpler answers, and reducing unnecessary tasks can save significant time for employees. 00:34:46 - Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Two Weeks Notice, by Amy Porterfield What Your Customer Wants and Can't Tell You, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer The Power of Scarcity, by Mindy Weinstein Scarcity, by Sendhil Mullainathan and Eldar Shafir  Top Recommended Next Episode: What Your Employees Need and Can't Tell You launch (ep 225)  Already Heard That One? Try These:  The Overwhelmed Brain and Its Impact on Decision Making (ep 358) Behavioral Economics Foundations: Loss Aversion (ep 316) Behavioral Economics Foundations: Framing (ep 296) How To Set Up Your Own Experiments (ep 63) How to Set, Achieve & Exceed Brainy Goals (ep 70) Behavioral Economics Foundations: Nudges and Choice Architecture (ep 35) Overview of Personal Biases (ep 45) Behavioral Economics Foundations: Scarcity (ep 270) What is Value? (ep 234) Behavioral Economics Foundations: Herding (ep 264) Mindy Weinstein Interview (ep 271) What Your Customer Wants and Can't Tell You (ep 147) The Truth About Pricing (ep 356) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Judgment and Decision Making Under Time Pressure Decision Making Under Time Pressure: A Model for Information Systems Research This Is Your Brain ‘On Sale' Decisions under Time Pressure: How Time Constraint Affects Risky Decision Making Searching for a Better Deal: on the Influence of Group Decision Making, Time Pressure and Gender in a Search Experiment The Effects of Time Pressure and Completeness of Information on Decision Making

In this episode of The Brainy Business podcast, host Melina Palmer dives into the importance of choosing between quality and value when it comes to your brand strategy. She talks about how businesses can be successful with either approach, but it's crucial to pick one and stick with it. Melina shares real case studies of brands like Supreme and Costco to illustrate how they've excelled by aligning their pricing strategies with their brand messaging.  She emphasizes that understanding how customers perceive your brand is key to making informed decisions about your positioning in the market. If you're an entrepreneur looking to establish a clear brand identity and nail down consistent brand messaging and pricing strategies, this episode is a must-listen. Melina's insights and examples make a convincing case for the impact of your brand strategy on customer perception and decision-making. For those looking to elevate their branding approach and make strategic decisions, this podcast episode offers valuable takeaways and practical advice. In this episode: Understand the Importance of Choosing Brand Strategy: Uncover the critical role of brand strategy in business success. Analyze Quality vs Value in Branding: Explore the dynamic balance between quality and value within brand development. Align Pricing with Brand Values: Learn how to harmonize pricing strategies with the core values of your brand. Explore the Impact of Brand Identity on Consumer Perception: Discover the profound influence of brand identity on consumer attitudes and behaviors. Establish Consistent Brand Messaging: Master the art of crafting and maintaining a cohesive brand message across all platforms. Show Notes: 00:00:00 - Introduction Melina introduces the critical decision every business needs to make: what type of company they are. She explains that this decision is foundational to pricing strategy and can be boiled down to two main paths: quality or value. 00:04:11 - Quality Business Melina defines quality businesses as those that set higher prices due to factors like higher quality materials, expertise, or innovative methods. These businesses focus on higher margins and making fewer sales. Melina emphasizes the importance of consistency in messaging and pricing for quality brands. 00:09:03 - Value Business Melina describes value businesses as offering bargains, great value for money, and selling by volume with smaller margins. These businesses run sales, discounts, and promotions as a key part of their strategy. She highlights the need for alignment between the brand's perception and how customers see them. 00:11:42 - Aligning Business Perception Melina shares an example of a client who faced a disconnect between their perceived quality and value brand image. She emphasizes the importance of aligning the company's identity with customer perception and the impact on brand positioning, products, services, and pricing. 00:14:52 - Holding the Line on Business Type Melina discusses the challenge of staying true to the chosen business type and making consistent decisions. She addresses the pressure to conform to other strategies, the potential damage of diluting a brand's perceived value, and the importance of getting everyone in the organization on board. 00:16:17 - Choosing Between Quality and Value Melina discusses the importance of choosing between quality and value for your brand, emphasizing the need to stick with one approach to achieve success. She urges listeners to consider their vision for their business and commit to a path. 00:19:26 - Case Study: Quality Brand - Supreme Melina shares a case study on the streetwear brand Supreme, highlighting their extreme scarcity model and the success they've achieved through high demand and resale market. She emphasizes the importance of challenging industry norms and being different in business. 00:23:59 - Case Study: Value Brand - Costco Melina presents Costco as a value brand that focuses on providing high-quality items at the best possible price. She discusses Costco's effective scarcity model and the impact of their commitment to saving members money on their overall brand strategy. 00:29:21 - Examples of Quality and Value Brands Melina introduces four case studies of quality and value brands, including Serendipity3, Hermes, Ryanair, and Old Navy. She mentions the depth and detail provided in the book and invites feedback for potential future behavioral economics analysis episodes. 00:31:41 - The Importance of Value Statement Melina discusses the vital aspect of brand identity - the value statement. It encapsulates core beliefs, creates consistency, and influences customer perceptions. 00:32:19 - Impact of Branding on Decision Making Melina explains how a precise brand message and promise are essential for making buying decisions easier for customers. The alignment of brand values and prices is crucial for creating a clear memory and influencing behavior. 00:33:51 - Priming and Brand Image Melina delves into the concept of priming, where word choice and images influence decision-making. She provides examples of how brands like Apple and Disney prime customers' behavior and perceptions through their logos. 00:35:41 - Aligning Brand Identity with Business Type Melina contrasts the mission statements of Costco and Louis Vuitton to illustrate the importance of aligning brand identity with the type of business. She encourages listeners to evaluate their own mission, vision, and values for alignment. 00:40:10 -  Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Truth About Pricing, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer Alchemy, by Rory Sutherland Marketing to Mindstates, by Will Leach Top Recommended Next Episode: Truth About Pricing (ep 355) Already Heard That One? Try These:  What Your Employees Need and Can't Tell You (ep 225) Bundle and Stack Your Offers (ep 84) How to Raise Your Prices (ep 354) Get the Ultimate Pricing Confidence (ep 66) What Your Customer Wants and Can't Tell You (ep 147) Jo Evershed and Gareth Harvey Interview (ep 353) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter The Truth About Pricing Freebies

Get the first chapter of any of Melina's books for free: www.thebrainybusiness.com/ANI Buy the Book "HOW TO APPLY BEHAVIORAL ECONOMICS SO CUSTOMERS BUY": https://thebrainybusiness.com/pricing-book/ https://www.amazon.com/Truth-About-Pricing-Behavioral-Economics/dp/1684813433 Join us for an exclusive and engaging LinkedIn Live event featuring Melina Palmer, the acclaimed author and instructor of applied behavioral economics. In this insightful session titled "The Truth About Pricing: How to Apply Behavioral Economics So Customers Buy," Melina will delve into the groundbreaking concepts from her best-selling book, joined by the dynamic Kwame for a lively Q&A session. This event is a must-attend for entrepreneurs and business professionals eager to master the art of pricing and value-based strategies. Learn how to understand the intricate dynamics of buyer behavior and set prices that resonate with customers, elevating business success. Melina Palmer, with her expertise in marketing and behavioral economics, will guide you through a step-by-step journey, unlocking the secrets of your buyers' minds. Discover how to comprehend their true needs and set irresistible prices. It's not just about numbers; it's about understanding that everything leading up to the price is what truly matters. Key Takeaways: **Psychology Behind Pricing**: Navigate the psychology of pricing to increase profitability, ease sales processes, and ensure customer satisfaction. **Uncover Hidden Desires**: Learn to discern the prices customers want but cannot articulate, giving you a competitive edge. **Value-Aligned Pricing**: Gain insights into what your customers and your business truly value, and align your pricing strategies accordingly. **Entrepreneurial Guidance**: Get practical tips for successful pricing aimed at boosting profits and enhancing client happiness. And get ready for a fun and engaging Q&A with Kwame and Melina, where your burning questions about pricing strategies will be answered. This interactive session promises to be both informative and entertaining, offering unique insights directly from the experts. This event is ideal for those who appreciate insightful business reads like "Build," "The New Model of Selling," or "What Your Customer Wants and Can't Tell You." If you're looking to transform your approach to pricing and drive your business to new heights, "The Truth About Pricing" LinkedIn Live event with Melina Palmer and Kwame is where your journey begins. Contact ANI Request A Customized Workshop For Your Company: https://www.americannegotiationinstitute.com/services/workshops/ Follow Kwame Christian on LinkedIn: https://www.linkedin.com/in/kwamechristian/ The Ultimate Negotiation Guide: https://www.americannegotiationinstitute.com/guides/ultimate-negotiation-guide/ Click here to buy your copy of How To Have Difficult Conversations About Race!: https://www.amazon.com/Have-Difficult-Conversations-About-Race/dp/1637741308/ref=pd_%5B%E2%80%A6%5Df0bc9774-7975-448b-bde1-094cab455adb&pd_rd_i=1637741308&psc=1 Click here to buy your copy of Finding Confidence in Conflict: How to Negotiate Anything and Live Your Best Life!: https://www.amazon.com/Finding-Confidence-Conflict-Negotiate-Anything/dp/0578413736/ref=sr_1_1?crid=2PSW69L6ABTK&keywords=finding+confidence+in+conflict&qid=1667317257&qu=eyJxc2MiOiIwLjQyIiwicXNhIjoiMC4xNCIsInFzcCI6IjAuMjMifQ%3D%3D&sprefix=finding+confidence+in+conflic%2Caps%2C69&sr=8-1

In this episode of The Brainy Business podcast, host Melina Palmer delves into the psychology of pricing strategy, drawing from her experiences at a conference for female entrepreneurs and her expertise in behavioral economics, which also served as the foundation for her book, The Truth About Pricing. Melina emphasizes the importance of understanding the subconscious influences that drive consumer behavior and how businesses can leverage sensory cues and anticipation to shape purchasing decisions.  She shares insights on creating an irresistible introduction, utilizing the five senses, and leveraging principles of behavioral economics to capture customers' attention and drive sales. By discussing anchoring and adjustment, relativity, and the power of presenting multiple options, Melina provides practical strategies for entrepreneurs to apply in their retail businesses. Her engaging storytelling and relatable approach make this episode a valuable resource for entrepreneurs looking to increase consumer engagement and drive higher sales through effective pricing strategies. In this episode: Uncover the psychology behind pricing strategies to gain a competitive edge in the retail market. Craft an irresistible introduction to captivate customers and leave a lasting impression. Leverage the five senses to create a memorable and immersive shopping experience for your customers. Implement anchoring and adjustment techniques in pricing to influence consumer behavior and drive sales. Understand the importance of presenting multiple options to increase consumer engagement and boost sales. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the podcast episode and mentions that it is releasing on the same day as the launch of her third book, The Truth About Pricing. She discusses how this episode was the basis for the book and encourages listeners to order a copy. 00:02:18 - Pricing Strategy and Selling Techniques Melina talks about observing how people position their offers and discuss their services at conferences and events. She mentions that skilled presenters follow a pattern and are able to subtly make the audience want their offer. This pattern is based on the same foundation as pricing strategy. 00:07:47 - Subconscious Evaluation Melina discusses how she constantly evaluates advertisements and messaging around her, even though she may not consciously realize everything her subconscious is taking in. She emphasizes that subconscious evaluation plays a significant role in selling techniques, such as the anticipation created by the smell of freshly baked cookies. 00:11:41 - Order of Events Melina explains the importance of the order in which events occur in a selling experience. She contrasts a positive experience of smelling cookies, receiving a special offer, and enjoying a free sample with a negative experience of being interrupted by a salesperson and feeling irritated. The same offer can result in different outcomes based on the order of events. 00:17:02 - The Core Takeaway on Pricing Customers will find a way to pay for your product if it solves a real problem and is positioned effectively. Delivery and understanding behavioral economics are important factors in getting customers to take action. 00:20:08 - The Scent of the Cookies To capture your ideal client's attention, you need something nearly irresistible. Use all five senses to create an engaging and memorable experience through platforms like social media, podcasting, or visuals. 00:23:13 - Give Them Something to Keep Them Interested Offer something of value to your potential customers. For services, provide lead magnets. For physical products, allow customers to sample or experience the product to create a sense of ownership and desire. 00:24:30 - The Power of Touch and Scarcity Utilize touch to stimulate the brain's ownership response. Incorporate scarcity by creating a sense of urgency and fear of missing out. Countdowns and limited-time offers can motivate customers to take immediate action. 00:34:13 - The concept of anchoring and adjustment Anchoring and adjustment is when the brain latches onto a number and then adjusts up or down based on that initial anchor. This concept can influence our decision-making, as demonstrated in scenarios like buying Snickers bars at the grocery store. 00:36:08 - The concept of relativity Relativity plays a role in decision-making by comparing options. In an example from an advertisement for subscriptions to the Economist, removing a seemingly undesirable option led to a shift in people's choices. Understanding relativity can help marketers create effective pricing strategies. 00:39:11 - Building pricing options When setting prices, it's recommended to provide three options: the best offer, a decoy with worse value, and a third item for balance. This approach allows for value comparisons and caters to different customer preferences. The presentation and order of pricing options can influence decision-making. 00:42:22 - Mastering pricing strategy Mastering pricing strategy requires an understanding of the principles and how they work together. Each product or service may require different tweaks and adjustments. Incorporating these learnings into pricing strategies can lead to better customer engagement and profitability. 00:43:52 -  Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Truth About Pricing, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer Nudge, by Richard Thaler and Cass Sunstein Friction, by Roger Dooley Top Recommended Next Episode: Behind the Scenes, The Truth About Pricing (ep 355) Already Heard That One? Try These:  What Your Employees Need and Can't Tell You (ep 225) Bundle and Stack Your Offers (ep 84) How to Raise Your Prices (ep 354) Get the Ultimate Pricing Confidence (ep 66) What Your Customer Wants and Can't Tell You (ep 147) Jo Evershed and Gareth Harvey Interview (ep 353) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Get the first chapter of any of Melina's books for free: www.thebrainybusiness.com/ANI Buy the Book "HOW TO APPLY BEHAVIORAL ECONOMICS SO CUSTOMERS BUY": https://thebrainybusiness.com/pricing-book/ https://www.amazon.com/Truth-About-Pricing-Behavioral-Economics/dp/1684813433 Join us for an exclusive and engaging LinkedIn Live event featuring Melina Palmer, the acclaimed author and instructor of applied behavioral economics. In this insightful session titled "The Truth About Pricing: How to Apply Behavioral Economics So Customers Buy," Melina will delve into the groundbreaking concepts from her best-selling book, joined by the dynamic Kwame for a lively Q&A session. This event is a must-attend for entrepreneurs and business professionals eager to master the art of pricing and value-based strategies. Learn how to understand the intricate dynamics of buyer behavior and set prices that resonate with customers, elevating business success. Melina Palmer, with her expertise in marketing and behavioral economics, will guide you through a step-by-step journey, unlocking the secrets of your buyers' minds. Discover how to comprehend their true needs and set irresistible prices. It's not just about numbers; it's about understanding that everything leading up to the price is what truly matters. Key Takeaways: **Psychology Behind Pricing**: Navigate the psychology of pricing to increase profitability, ease sales processes, and ensure customer satisfaction. **Uncover Hidden Desires**: Learn to discern the prices customers want but cannot articulate, giving you a competitive edge. **Value-Aligned Pricing**: Gain insights into what your customers and your business truly value, and align your pricing strategies accordingly. **Entrepreneurial Guidance**: Get practical tips for successful pricing aimed at boosting profits and enhancing client happiness. And get ready for a fun and engaging Q&A with Kwame and Melina, where your burning questions about pricing strategies will be answered. This interactive session promises to be both informative and entertaining, offering unique insights directly from the experts. This event is ideal for those who appreciate insightful business reads like "Build," "The New Model of Selling," or "What Your Customer Wants and Can't Tell You." If you're looking to transform your approach to pricing and drive your business to new heights, "The Truth About Pricing" LinkedIn Live event with Melina Palmer and Kwame is where your journey begins. Contact ANI Request A Customized Workshop For Your Company: https://www.americannegotiationinstitute.com/services/workshops/ Follow Kwame Christian on LinkedIn: https://www.linkedin.com/in/kwamechristian/ The Ultimate Negotiation Guide: https://www.americannegotiationinstitute.com/guides/ultimate-negotiation-guide/ Click here to buy your copy of How To Have Difficult Conversations About Race!: https://www.amazon.com/Have-Difficult-Conversations-About-Race/dp/1637741308/ref=pd_%5B%E2%80%A6%5Df0bc9774-7975-448b-bde1-094cab455adb&pd_rd_i=1637741308&psc=1 Click here to buy your copy of Finding Confidence in Conflict: How to Negotiate Anything and Live Your Best Life!: https://www.amazon.com/Finding-Confidence-Conflict-Negotiate-Anything/dp/0578413736/ref=sr_1_1?crid=2PSW69L6ABTK&keywords=finding+confidence+in+conflict&qid=1667317257&qu=eyJxc2MiOiIwLjQyIiwicXNhIjoiMC4xNCIsInFzcCI6IjAuMjMifQ%3D%3D&sprefix=finding+confidence+in+conflic%2Caps%2C69&sr=8-1

In this episode of The Brainy Business podcast, Melina Palmer unveils the backstory of her latest book, The Truth About Pricing: How to Apply Behavioral Economics so Customers Buy. By tracing her path from book concept to publication, Melina underscores the significance of pricing confidence for businesses. The episode delves into the challenges businesses encounter in pricing and how Melina's book offers actionable advice to cultivate that essential confidence.  With a focus on unraveling the psychology and behavioral economics underpinning pricing decisions, Melina's book aims to empower businesses to enhance their sales strategies and cultivate customer loyalty. For business owners and entrepreneurs seeking to elevate their pricing acumen and drive profitability, this episode is a valuable resource. Melina's expertise and pragmatic insights make it an indispensable guide for navigating the complexities of pricing strategy. In this episode, you will be able to: Mastering the Book Publishing Process: Unveiling the intricacies and essentials of publishing a book for aspiring authors and entrepreneurs. Optimizing Pricing Strategy for Businesses: Maximizing profitability and competitiveness through strategic pricing methodologies tailored to your business. Leveraging Behavioral Economics in Pricing: Harnessing consumer psychology and decision-making behaviors to drive sales and revenue. Cultivating Confidence in Pricing Decisions: Developing the expertise and assurance needed to make sound pricing choices for your products or services. Incorporating Psychology into Pricing Strategy: Understanding the psychological triggers that influence consumer purchasing decisions and using them to your advantage. Show Notes: 00:00:00 - Introduction Melina introduces the episode, discussing the launch of her new book. She provides an overview of what listeners can expect in the episode. 00:04:16 - The Journey to Writing The Truth About Pricing Melina shares the journey of writing The Truth About Pricing, from connecting with a book agent to finalizing the contract for the book. She discusses the process of pitching the book to publishers and the serendipitous events that led to its publication. 00:09:30 - The Problem with Pricing Melina delves into the common struggles and stress associated with pricing for businesses. She highlights the pressure to get pricing perfect, the tendency to procrastinate, and the overwhelming amount of information available on pricing strategies. 00:11:33 - Gaining Confidence in Pricing Strategy Melina emphasizes the importance of confidence in pricing and its impact on customer behavior. She discusses the value of gaining confidence in pricing strategy and presents the book as a guide to achieving this confidence. 00:15:36 - Overcoming Procrastination and Setting the Right Price Melina addresses the common pitfalls of procrastination in setting prices and the cognitive biases that contribute to this behavior. She highlights the book's focus on overcoming these challenges and setting prices with confidence. 00:16:05 - Setting the Stage Melina explains that the book focuses on understanding the pricing problem and how behavioral economics is the key to success. It covers the science behind pricing and the steps to optimize pricing using behavioral economics and psychology. 00:19:25 - The Golden Octopus Melina introduces a short story about the purchase of a golden octopus to illustrate how pricing really works. This section also provides insights on pricing placement and psychology, outlining the brain tricks that impact pricing. 00:21:06 - Building a Foundation This part focuses on the importance of the factors that come before the price itself. It emphasizes the need to create a seamless buying experience for customers and highlights the significance of choice architecture in pricing strategy. 00:25:22 - Applying the Framework Melina introduces the It's Not About the Cookie framework, which consists of six categories of behavioral science to consider when applying the foundation of the pricing strategy. It also discusses the value of properly structuring a choice in pricing. 00:30:06 - Case Studies Melina discusses four case studies of well-known global businesses to inspire readers on how to apply the concepts to their specific business types. The case studies cover quality and value-based product and service businesses, offering practical insights for readers. 00:31:40 - The Importance of Pricing Strategies Melina emphasizes the importance of making pricing decisions efficiently and confidently. She offers a guide to streamline the process and highlights the value of incorporating psychology and behavioral economics into pricing strategies. 00:32:38 - Freebies and Resources Melina discusses the complimentary items available, including a virtual glossary and a pricing mastery checklist. She invites listeners to visit thebrainybusiness.com for a free sample chapter and provides links for ordering the book. 00:33:47 - Availability and Formats Melina shares that the book is available for purchase on various platforms and mentions the upcoming ebook and audible versions. She encourages preordering and assures that the audiobook is professionally narrated. 00:34:48 - Audiobook and Book Content Melina addresses the suitability of the audiobook for learning, highlighting that the book's tasks are not heavily reliant on visual aids. She provides links to order all her books and emphasizes the value of the book's content. 00:36:19 -  Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Truth About Pricing, by Melina Palmer What Your Customers Want and Can't Tell You, by Melina Palmer What Your Employees Need and Can't Tell You, by Melina Palmer Marketing Mess to Brand Success, by Scott Miller Finding Confidence in Conflict, by Kwame Christian Top Recommended Next Episode: Truth About Pricing (ep 5) Already Heard That One? Try These:  What Your Employees Need and Can't Tell You (ep 225) Bundle and Stack Your Offers (ep 84) How to Raise Your Prices (ep 354) Get the Ultimate Pricing Confidence (ep 66) What Your Customer Wants and Can't Tell You (ep 147) Jo Evershed and Gareth Harvey Interview (ep 353) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Melina Palmer invites Jessica Wilson of Imotions to discuss the fascinating world of neuroscience tools for consumer research. Jessica's in research and neuroscience led them to Imotions, a software company that offers a platform integrating various neuroscience tools. The platform includes a study builder, analysis tools, and export options, catering to both commercial and academic clients. Jessica emphasizes the importance of matching the research question with the appropriate technology, rather than being swayed by the allure of shiny gadgets.  She highlights the value of using eye tracking, facial expression analysis, and skin conductance as a powerful combination of tools, known as the "Holy Trinity." However, she also mentions the availability of other tools, such as EEG and heart rate monitoring, depending on the specific research needs. Jessica shares examples of video testing and usability studies, showcasing how these tools can provide insights into consumer behavior, attention, and emotional responses. She emphasizes the importance of using the gathered data to inform design decisions and improve consumer experiences. The conversation concludes with a discussion of real-world applications, including collaborations with universities and healthcare organizations. In this episode: Discover how neuroscience tools can revolutionize consumer research and unlock deep insights into consumer behavior. Uncover the hidden motivations behind consumer decisions using cutting-edge eye tracking and facial expression analysis techniques. Optimize your website design with confidence by leveraging user testing to identify usability issues and improve user experiences. Learn the importance of crafting clear research questions to drive effective user testing and obtain actionable insights. Boost user engagement and trust with shorter, impactful testimonials that capture attention and increase conversion rates. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the podcast and shares her excitement about conducting research and experiments with Imotions to optimize her website pages. 00:02:36 - Introduction to Imotions Jessica Wilson, the director at Imotions, shares information about the company and their platform. She discusses the wide range of applications for their neuroscience tools, including consumer insights, product testing, ad testing, and more. 00:07:43 - Types of Testing with Imotions Jessica explains the different types of testing that can be done with Imotions, including eye tracking, facial expression analysis, and skin conductance. She emphasizes the importance of using the right tools based on research questions and not getting caught up in the excitement of technology. 00:08:31 - The Holy Trinity of Eye Tracking, Facial Expression Analysis, and Skin Conductance Jessica discusses the Holy Trinity of eye tracking, facial expression analysis, and skin conductance. These three tools work well together to provide information on attention, valence, and physiological arousal. She mentions that there are additional tools available, but it's important to choose the right ones based on research questions. 00:10:42 - Consultation and Planning with Imotions Jessica highlights the importance of consultation and planning with Imotions. They offer guidance on choosing the right tools and metrics for specific research questions. The research question should dictate the technology used, rather than the other 00:15:12 - Video Testing with Biosensor Data Jessica discusses how video testing can be used with biosensor data to assess consumer preferences and improve communication. They share an example of a collaboration between the University of South Florida and BayCare Health Systems to evaluate the impact of COVID-19 infomercials on consumers. 00:16:46 - Usability and Sensory Testing Jessica explains how biosensor research can be utilized in usability and sensory testing. They mention using biosensors to assess people's reactions to different food samples and how the most effective testing methods have distinct research questions and variables. 00:18:14 - Free Scrolling and Task-Based Testing Melina and Jessica discuss the different approaches to testing, including free scrolling to observe natural behavior and task-based testing to compare prototypes. They emphasize the importance of incorporating specific tasks into usability studies for websites. 00:21:08 - Redesigning a Website Melina shares her experience of redesigning her website in preparation for her book launch. They discuss the process of testing mockups of the new site against the existing site to determine if design changes were effective and if any adjustments were needed. 00:24:46 - Testing for Different Personas Jessica explains how they incorporated different personas into the testing process. They discuss the two personas targeted by the host's business, entrepreneurial types, and corporate members, and how the testing aimed to direct each persona to the most relevant products and services. 00:29:38 - Importance of Clear Tasks in Website Testing Narrowing down tasks and evaluating if they are working is crucial in website testing. Asking vague questions about users' interests and actions can reveal where they get stuck. It's important to avoid priming users and instead focus on finding potential obstacles. 00:31:13 - The Power of Focusing on One Thing in Research Research should focus on one or two variables to obtain clear answers. Avoiding distractions and confounding variables leads to stronger insights. Rushing research can result in missed opportunities for valuable insights. 00:33:20 - Effective Design Elements for Website Success Salient design elements like big buttons with clear choices greatly improve the success rate of website interactions. Eye tracking and behavioral metrics demonstrate the impact of design clarity on user engagement. 00:34:57 - Challenges with Corporate Persona Landing Page The corporate landing page proved challenging for users, leading to confusion and distributed attention. Brow furrow and lower success rates indicated a need for clearer design elements and more effective funneling of actions. 00:37:16 - Applying Insights from Testing to Website Redesign Insights from the previous tests informed the redesign of the entire website. Big buttons, clear choices, and reducing cognitive load were integrated into other areas of the site, improving user experience. 00:43:23 - Eye Tracking Results: Less is More The study found that participants spent more time looking at the short testimonials compared to the long ones. They also showed less brow furrow and had a better overall experience with the shorter testimonials. This suggests that less text is more effective in capturing attention and providing a positive user experience. 00:45:37 - Importance of Short Testimonials The research showed that shorter testimonials are more effective in capturing attention and creating anticipation for the product. Participants were able to absorb the positive feedback more easily and had a better overall experience. Short testimonials provide social proof without overwhelming the users with excessive text. 00:46:56 - Evolution of Data Collection Technology The pandemic and the shift towards collecting data in naturalistic environments have led to the development of online data collection platforms. These platforms allow researchers to record facial expression analysis and eye-tracking data using webcams, eliminating the need for specialized equipment. This opens up new possibilities for remote data collection and collaboration. 00:49:20 - Tips for Conducting Experiments When conducting experiments, it's important to keep them small, be thoughtful about what to test, and test often. Focus on the most important aspects, avoid testing too many variables at once, and have a clear understanding of what you want to achieve. Testing helps understand and predict human behavior. 00:52:22 -  Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Imotions: IMOTIONS WEBSITE IMOTIONS ON TWITTER IMOTIONS ON LINKEDIN Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Truth About Pricing, Melina Palmer What Your Customer Want and Can't Tell You, Melina Palmer Marketing to Mindstates, Will Leach Designing for Behavior Change, Stephen Wendel Engaged, Amy Bucher Top Recommended Next Episode: Understanding the Problem (ep 126) Already Heard That One? Try These:  Inside the Texas A&M Human Behavior Lab (ep 33) Social Proof (ep 87) The Power of Metaphors with Olson Zaltman's Malcolm & Hannibal Brooks (ep 181) Cloud Army (ep 183) How To Set Up Your Own Experiments (ep 63) Priming (ep 18) What Your Customer Wants and Can't Tell You: All About Melina's First Book (ep 147) What is Behavioral Baking? (ep 155) How Businesses Can Design for Behavior Change, with Dr. Amy Bucher (ep 164) Designing for Behavior Change, Interview with Dr. Steve Wendel (ep 116) Planning Fallacy (ep 114) Time Discounting (ep 51) Framing (ep 16) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

In this episode of The Brainy Business podcast, you'll hear Melina Palmer interview Michael Schein, author of The Hype Handbook. This conversation delves into the power of hype in marketing and how to effectively capture attention and drive action. Michael shares his insights on the art of hype, emphasizing the importance of storytelling in making messages captivating and memorable. He explores the concept of certainty and how people are drawn to messages that offer it. The episode also discusses the significance of framing messages in impactful ways and highlights the power of simplicity in messaging.  This episode provides valuable insights for marketers and business professionals looking to enhance their communication skills and create more impactful marketing campaigns. Whether you want to understand the psychology behind effective hype or learn practical techniques for engaging your audience, this episode is a must-listen for anyone seeking to create captivating and memorable marketing campaigns. In this episode, you will: Unleash the power of hype in your marketing to create buzz and excitement around your brand. Harness the art of storytelling to captivate your audience and make your message stick in their minds. Master the art of crafting certain messaging to build trust, credibility, and clarity in your brand communication. Learn how impactful framing can make all the difference in influencing your audience's perception and decision-making. Discover the power of simplicity in messaging to cut through the noise and ensure your marketing campaigns are memorable and effective. Show Notes: 00:00:00 - Introduction Melina introduces the episode, celebrating the milestone of 350 episodes and over a million downloads of the show. She previews the topic of hype and introduces guest Michael. 00:02:26 - The Power of Hype Michael discusses how his company, Microfame Media, helps idea-driven businesses create hype. He emphasizes the importance of understanding mass psychology and using effective strategies and tactics to generate excitement and engagement. 00:05:15 - The Hype Handbook Michael shares his inspiration for writing his book, The Hype Handbook, which explores the principles and strategies used by propaganda artists, cult leaders, and other influential figures throughout history. He explains that these principles can be applied ethically to achieve desired outcomes. 00:07:34 - Principles over Tactics Michael emphasizes the importance of understanding psychological principles rather than relying solely on specific tactics or tools. He encourages businesses to focus on what drives human behavior and use that knowledge to create their own unique hype. 00:10:09 - The Perception of Hype Melina and Michael discuss the perception of hype and why some people may view it as sleazy or empty. They explore the origins of the term in the hip hop community and how hype has been embraced as a necessary strategy for success. 00:15:01 - Make War, Not Love The first strategy discussed is "Make War, Not Love," which is the foundation for all other strategies. The conversation explores the evolutionary basis of tribalism and how it influences our preferences and biases. 00:18:25 - Positioning Against an Idea The power of positioning yourself against a commonly accepted point of view in your industry is highlighted. By becoming the leader who challenges prevailing beliefs, you can attract like-minded individuals and build a new tribe around your ideas. 00:21:35 - Basecamp's Example The founders of Basecamp transformed their project management software into a crusade against overwork culture. By positioning their tool as a solution to the problem they were fighting against, they created a loyal following and achieved success. 00:23:45 - Authenticity and Packaging It is important to be authentic and genuinely believe in the stance you take. Cynical or surface-level attempts at packaging and branding are easily recognized. The conversation emphasizes the need to find a unique strength within your weaknesses to create a compelling persona. 00:25:49 - Uniqueness and Public Persona The discussion explores the concept of creating a public persona that is a heightened version of your true self. The key is to identify a strength buried within your weaknesses and use it to stand out in your industry. 00:29:49 - Embracing Authenticity Michael shares his journey of embracing his natural people-pleasing side and how it has helped him succeed. He highlights the power of being authentic and finding strength in who you are, rather than overcompensating for perceived weaknesses. 00:31:00 - Paradox of Confidence Michael discusses the paradox of confidence and how being confident means being confident in your natural state. He emphasizes the importance of embracing your true self and finding confidence in your own abilities, rather than trying to conform to someone else's expectations. 00:32:13 - Survivorship Bias Melina brings up the concept of survivorship bias and how it can distort our perception of success. Michael emphasizes the importance of questioning the advice and strategies of successful people, as they may be presenting a curated version of themselves for marketing purposes. 00:34:49 - Uncovering Marketing Tactics Michael delves into the strategies used by successful marketers and self-help gurus. He encourages listeners to analyze the tactics being employed to persuade them to buy products or follow advice, rather than blindly following the advice itself. He suggests creating a "swipe file" of marketing techniques instead. 00:38:07 - Making It Scientific Michael discusses the importance of using scientific language and authority to establish credibility in crowded fields. He explains how presenting ideas or services as backed by scientific research can make them appear more trustworthy and authoritative. He also highlights the use of heuristics in decision-making. 00:45:00 - The Hype Handbook and Simon Sinek Michael discusses how The Hype Handbook provides valuable insights on effective communication and the power of storytelling. He highlights Simon Sinek as a master of framing messages and using repetitive slogans to captivate audiences. 00:46:14 - The Impact of Framing and Certitude Michael emphasizes the impact of framing messages in a quotable and interesting way. He also discusses the heuristic that people often associate extreme certitude with knowledge and expertise. 00:49:13 - Connecting with Knowledge Seekers Michael shares his Hype Book Club, where he recommends books on various topics, including cult leaders and social psychology. He highlights the value of curiosity and diverse learning experiences. 00:50:54 - The Power of Storytelling and Tidbits Michael discusses the importance of weaving stories together to make a point and engage readers. He emphasizes the value of storytelling in helping people remember and apply what they've learned. 00:53:01 -  Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Michael: Microfame Media Michael on Twitter Michael on LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Simply Put, Ben Guttmann The Hype Handbook, Michael Schein Rework, Jason Fried The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph, Ryan Holiday Start with Why, Simon Sinek Top Recommended Next Episode: How to pitch your business Already Heard That One? Try These:  Social Proof (ep 87) Availability Bias (ep 310 Prince Ghuman Interview (344) Priscilla McKinney Interview (ep 196) What Your Customer Wants and Can't Tell You (ep 147) Negative Reviews (ep 163) The science of cool, with Troy Campbell (ep 169) David Paull (ep 289) Megaan Lurtz (ep 341) Herding: Come on and Listen… Everyone Else Is Doing It (ep 19) Framing: How You Say Things Matter More than What You're Saying (ep 16) The Overwhelmed Brain and Its Impact on Decision Making (ep 32) Overview of Personal Biases (ep 45) Survivorship Bias: Stop Missing What's Missing (ep 110) Get Your D.O.S.E. of Brain Chemicals (ep 123) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter “21 Psychology Podcasts Every Businessperson Should Listen To” Derek Sivers – “How to Start a Movement” (TED Talk) Simon Sinek – “How Great Leaders Inspire Action” (TED Talk) Simon Sinek – “Millennials in the Workplace”

Welcome to Compromising Positions! The tech podcast that asks non-cybersecurity professionals what we in the industry can do to make their lives easier and help make our organisations more prepared to face ever-changing human-centric cyber threats! Join your hosts, Lianne Potter, Cyber Anthropologist and Head of Security Operations for a major retailer, and Jeff Watkins, Cybersecurity enthusiast and CTO for a software consultancy as they interview this week's guest!This week our guest is Melina Palmer, a renowned keynote speaker in behavioural economics and the CEO of The Brainy Business, as well as hosting one of the best podcasts on the subject of the practical application of behavioural economics.In this episode, we're going to discuss the art of influencing both up and down, and how to tailor your cybersecurity message to different audiences. Melina teaches us that it's not about the cookie - that is, it's not just about the product or cybersecurity awareness and controls themselves, but it's about how we frame information and communicate change.With her expertise in behavioural economics, Melina shows us how to make change easier, reduce decision fatigue, and increase social capital through understanding and compromise.What you'll learn in this episode:Effective communication is key to influencing both up and down in an organization. Tailoring your message to the audience and framing it in a relatable way can make you a more thoughtful communicator.Cybersecurity awareness and controls are crucial for preventing breaches, but the way you "sell" the experience matters. By making engagement positive and impactful, you can increase social capital and encourage people to follow the rules.Change can be overwhelming, especially when we're already dealing with a lot of decisions and cognitive load. To make change easier, it's important to focus on what matters in the moment and avoid overwhelming people with too many changes at once.By understanding how our brains work and tailoring our communication and change management strategies accordingly, we can make a positive impact on our organizations and help drive progress.If you're interested in understanding the behavioural science behind cybersecurity and how we can communicate more effectively, then you're in the right place. Links to everything Melina discussed in this episode can be found in the show notes and if you liked the show, please do leave us a review. Follow us on all good podcasting platforms and via our YouTube channel, and don't forget to share on LinkedIn and in your teams.It really helps us spread the word and get high-quality guests, like Melina, on future episodes. We hope you enjoyed this episode - See you next time, keep secure, and don't forget to ask yourself, ‘Am I the compromising position here?' Show NotesMelina has created a fantastic It's Not About The Cookie worksheet so you can start using it in your organisation todayAn article on delivering bad news on a Friday. It isn't the book Lianne mentioned (she can't remember what book that was!) but this article covers why bad news from leadership on a Friday is a bad move! By Korn FerryAn article on Decision FatigueABOUT MELINA PALMERMelina Palmer is a globally celebrated keynote speaker showing companies how they can easily get customers to buy and employees to buy in by leveraging the power of behavioural economics.She is the CEO of The Brainy Business, which provides behavioural economics training and consulting to businesses of all sizes from around the world.Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioural economics to many universities and businesses. Melina teaches applied behavioural economics through the Texas A&M Human Behavior Lab and obtained her master's in behavioural economics from The Chicago School of Professional Psychology.A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes on Behavioral Economics & Business for Inc Magazine.Her first book, What Your Customer Wants and Can't Tell You (2021), won first place in the Chanticleer International Book Awards in its category, of which her second book, What Your Employees Need and Can't Tell You (2022), was also a finalist. Her highly anticipated third book, The Truth About Pricing, is scheduled to be published in January 2024.LINKS RELATED TO MELINA PALMERThe Brainy Business (Website)The Brainy Business PodcastLinkedIn

In this episode of The Brainy Business podcast, you'll hear an insightful conversation between host Melina Palmer and guest Prince Ghuman, a renowned neuromarketer and author. The discussion centers around the importance of incorporating neuroscience and psychology in marketing strategies. Prince emphasizes the need for marketers to understand human behavior and behavior science in order to create more effective campaigns and improve customer satisfaction.  He discusses concepts like pattern recognition, the mere exposure effect, and the balance between novelty and familiarity. Prince also explores the adoption curve and how different consumer segments prefer varying degrees of newness and safety. By incorporating these insights into your marketing strategies, you can better connect with consumers and optimize your marketing efforts. This episode provides valuable knowledge and practical tools for marketers seeking to enhance their marketing strategies and campaigns. In this episode, you will: Discover the untapped potential of incorporating neuroscience and psychology in your marketing strategies for more effective customer engagement. Unravel the concept of NAS (new and safe) and unlock its impact on consumer preferences, positioning your brand as a trusted choice in the market. Gain a deep understanding of the adoption curve and learn how to appeal to different consumer segments, maximizing your marketing efforts for better ROI. Harness the power of pattern recognition to identify consumer preferences and create meaningful brand connections that drive loyalty and repeat business. Explore the shared responsibility of consumers and marketers in shaping the digital landscape, ensuring ethical practices that foster trust and satisfaction in the online marketplace. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and welcomes Prince Ghuman as the guest. They discuss the intersection of behavioral science and marketing and Prince's background in the field. 00:02:08 - Prince's Background and Playbook, Prince shares his journey into the world of behavioral science and marketing. He discusses his experience working at startups and established corporations, as well as his transition to becoming a professor. Prince highlights the importance of neuroscience and psychology in marketing and mentions the playbook he developed over the years. 00:06:12 - Principles vs. Hard Science in Neuromarketing, Prince explains the division between principles and hard science in neuromarketing. He emphasizes the significance of understanding the principles of human behavior and psychology in marketing, even if neuroimaging is not accessible to all marketers. 00:08:23 - The Importance of Principles in Neuromarketing, Prince discusses the importance of principles in neuromarketing and how they can be applied to improve marketing strategies. He mentions the lack of emphasis on neuroscience and psychology in traditional marketing curricula and highlights the need for more practical applications of behavioral science in marketing. 00:10:00 - Applying Decision-Making Science to Marketing, Prince mentions the book Thinking, Fast and Slow by Daniel Kahneman and its significance in understanding decision-making. However, he emphasizes the need for tactics and practical applications of decision-making science in marketing and customer experiences. He envisions a future where neuromarketing principles are integrated. 00:15:00 - Evolution of Marketing and A/B Testing, The conversation begins with a discussion about the evolution of marketing and the use of A/B testing. The guest emphasizes the importance of understanding the psychological underpinnings behind marketing strategies and conducting more scientifically informed tests. 00:16:30 - Why We Like What We Like, The guest introduces the concept of the mere exposure effect, which states that the more we are exposed to something, the more likely we are to prefer it. They also discuss the idea of "new and safe," where people are attracted to things that are both novel and familiar. Understanding this concept can help brands come up with better product tests and launch strategies. 00:18:16 - The Psychological Context of Product Adoption, The guest explains how the psychological context of product adoption is often overlooked. Early adopters are more accepting of imbalances between new and safe, while late adopters prefer safety. Understanding this can help brand managers tailor their launch strategies and target different segments of the market. 00:21:14 - Using Familiarity and Novelty in Product Launches, The guest uses the example of Oreo cookies to illustrate how brands can incorporate familiarity and novelty to attract mass market appeal. By sandwiching a new flavor between familiar elements, brands can grab attention and break through established patterns, even if the new flavor itself doesn't sell well. 00:24:34 - Pleasure in Pattern Recognition, Prince addresses a question about why humans derive pleasure from pattern recognition. 00:29:31 - The Use of Game Mechanics in Engagement, The guest talks about how game mechanics are being used across various genres of games to increase engagement. He gives examples of sports games like NBA, soccer, FIFA, and NFL, as well as board games like Monopoly. Unpredictability is a key factor in increasing engagement, and this is seen in social media apps like Facebook, Instagram, and TikTok, where users are constantly scrolling to see what comes up next in their feed. 00:30:46 - Engagement 2.0 and Compulsive Behavior, The guest discusses how engagement in digital products, like social media apps, can lead to compulsive behavior. The unpredictability of what comes next on these platforms keeps users engaged and scrolling. He emphasizes that engagement is only a few steps away from compulsive behavior and explains why some apps have come under fire for exploiting this. 00:34:57 - The Role of Users in Data Science and Behavior Modeling, The guest points out that while tech companies are often criticized for using data science unethically, users also play a role in this behavior modeling. He suggests that consumers need to be willing to pay for digital products and services if they want to see a change in the way data science is used. He compares it to the organic food movement, where consumers demanded and paid a premium for healthier options. 00:36:27 - Marketers' Responsibility in Understanding Neuroscience, The guest emphasizes the importance for marketers to understand neuroscience and psychology in order to create better products and experiences for consumers. 00:43:10 - Importance of Understanding Your Customers, Understanding your customers' goals and communication preferences is crucial in business. Avoid comparing yourself to others and focus on meeting your customers' needs. This is the foundation of Melina Palmer's book What Your Customer Wants and Can't Tell You. 00:43:37 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Prince:  Follow Prince on LinkedIn  Follow Prince on Twitter  PopNeuro website Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Blindsight, by Prince Ghuman and Matt Johnson Neurobranding, by Peter Steidl Thinking, Fast and Slow, by Daniel Kahneman Crossing the Chasm, by Geoffrey Moore The Tipping Point, by Malcolm Gladwell Top Recommended Next Episode: Neuroscience and Behavioral Economics, with Matt Johnson (ep 160) Already Heard That One? Try These:  Indistractable, with Nir Eyal (ep 290) The Life-Saving Skill of Story, with Michelle Auerbach (ep 288) A More Beautiful Question, with Warren Berger (ep 200) Branding That Means Business, with Matt Johnson (ep 231) Disney: A Behavioral Economics Analysis (ep 292) Availability Bias (ep 310) Familiarity Bias (ep 149) Relativity (ep 12) Get Your DOSE Of Brain Chemicals (ep 123) Habits (ep 256) The Power of Habit (ep 22) Non-Obvious Thinking with Rohit Bhargava (ep 297) Surprise & Delight (ep 276) McDonalds' Irrational Loyalty Program (ep 279) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter We Asked: Why Does Oreo Keep Releasing New Flavors?

Welcome to Compromising Positions! The tech podcast that asks non-cybersecurity professionals what we in the industry can do to make their lives easier and help make our organisations more prepared to face ever-changing human-centric cyber threats! Join your hosts, Lianne Potter, Cyber Anthropologist and Head of Security Operations for a major retailer, and Jeff Watkins, Cybersecurity enthusiast and CTO for a software consultancy as they interview this week's guest!This week our guest is Melina Palmer, a renowned keynote speaker in behavioural economics and the CEO of The Brainy Business, as well as hosting one of the best podcasts on the subject of the practical application of behavioural economics.In this episode, we discuss how silos and tribal mentalities occur in the workplace due to confirmation bias and how we can expand the circle of empathy to create a more cohesive team.We'll also delve into the issue of time discounting, availability bias and optimism bias to understand why people are drawn to the easy option in the moment.We shall explore how the cybersecurity team's curse of knowledge can be a barrier to effective communication, and the need to create easier-to-digest content that enables 'buy-in.' Key takeaways for this episode are:Understanding the behaviour that leads to insecure cybersecurity behaviour is crucial in developing effective cybersecurity strategies. Silos and tribal mentalities in the workplace can be detrimental to team dynamics and productivity. Leaders should work towards creating a 'team company' culture. Confirmation bias and focusing illusion can lead to negative relationships and narrow perspectives. It's important to listen and build positive connections. Cybersecurity messages should be framed in a way that resonates with users and takes into account their knowledge and habits. To effectively communicate cybersecurity information, it's important to get into the mind space of the person you're communicating with and provide easy-to-digest content.If you're interested in understanding the behavioural science behind cybersecurity and how we can communicate more effectively, then you're in the right place. Links to everything Melina discussed in this episode can be found in the show notes and if you liked the show, please do leave us a review. Follow us on all good podcasting platforms and via our YouTube channel, and don't forget to share on LinkedIn and in your teams.It really helps us spread the word and get high-quality guests, like Melina, on future episodes. We hope you enjoyed this episode - See you next time, keep secure, and don't forget to ask yourself, ‘Am I the compromising position here?' SHOW NOTESThe original, and arguably the best book on Nudge Theory - Nudge: The Final Edition: Improving Decisions About Money, Health, and the Environment by Richard H. Thaler and Cass R. Sunstein. This is a must read book to learn about influencing behaviour changeThe Power of Us: Harnessing Our Shared Identities for Personal and Collective Success by Jay Van Bavel and Dominic J. PackerA short video on the philosophy of Ayn RandMelina's episode on Confirmation BiasMelina's episode on Focusing IllusionWe couldn't find the exact study Melina mentions in regards to teachers bias and the impact on grades but we did find another similar study that shares almost the same results - (Biased) Grading of Students' PerformanceMelina's episode on Availability BiasMelina's episode on Time DiscountingMelina's episode on Optimism BiasABOUT MELINA PALMERMelina Palmer is a globally celebrated keynote speaker showing companies how they can easily get customers to buy and employees to buy in by leveraging the power of behavioural economics.She is the CEO of The Brainy Business, which provides behavioural economics training and consulting to businesses of all sizes from around the world.Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioural economics to many universities and businesses. Melina teaches applied behavioural economics through the Texas A&M Human Behavior Lab and obtained her master's in behavioural economics from The Chicago School of Professional Psychology.A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes on Behavioral Economics & Business for Inc Magazine.Her first book, What Your Customer Wants and Can't Tell You (2021), won first place in the Chanticleer International Book Awards in its category, of which her second book, What Your Employees Need and Can't Tell You (2022), was also a finalist. Her highly anticipated third book, The Truth About Pricing, is scheduled to be published in January 2024.LINKS RELATED TO MELINA PALMERThe Brainy Business (Website)The Brainy Business PodcastLinkedIn

In this episode of the Centricity podcast, our host Sean Doyle meets with Cecilia Lang Ree, the Senior Product Manager at Biolinq. They discuss applying behavior science to create more effective, successful marketing strategies.  Why Apply Behavior Science to Marketing? This gives marketing professionals a science-based framework to start from when creating profiles of their prospects rather than relying on trial and error. People are often motivated by unconscious factors – even if you're surveying them and getting responses, they may not be able to tell you a complete picture of what they're experiencing and why. The transtheoretical model maps out how people experience changes in behavior. Marketers need to be familiar with the stages of behavior change in order to have targeted techniques throughout the buyer journey. The Bridge Between Awareness and Action Awareness is not enough to change people's behavior.  Understanding intrinsic motivation can help us develop a step-by-step process that can take someone from knowing about your product to choosing to purchase. Getting Started Get excited about the science. Learn it and teach it to anyone who is interested.  Cecilia lists some of her favorite resources - see below! Resources Connect with Cecilia Lang-Ree on LinkedIn!  What Your Customer Wants and Can't Tell You by Melina Palmer Using Behavioral Science in Marketing by Nancy Harhut Start at the End by Matt Wallaert  Changing for Good by James O. Prochaska BehavioralScientists.org Irrational Labs

In the context of business, the sense of touch plays a crucial role in building emotional connections with consumers and driving their purchasing behavior. Understanding and harnessing the power of touch can significantly improve the perceived quality of products and services, strengthening the brand image and fostering customer loyalty. By integrating touch into marketing and branding efforts, entrepreneurs can create a multisensory experience that has a lasting impact on their target audience.  Melina Palmer emphasizes the importance of touch in business, discussing how it is directly connected to emotional language and can influence both our perceptions and actions. Throughout the podcast, she explores the science behind touch and how it can be strategically employed by businesses to engage consumers on a deeper level. Melina highlights the need for businesses to consider the various ways they can incorporate touch, ensuring it is utilized effectively and appropriately to deliver the desired effect. In this episode, you'll: Discover the secrets behind utilizing touch in business for better connections and results. Learn why investing in thoughtful materials that align with your message boosts your brand image and customer satisfaction. Uncover the powerful connection between emotional and visual touch in material choices. Explore innovative ways to incorporate touch into service-based and virtual businesses. Get a sneak peek at Friday's enlightening interview on the art of data visualization. Show Notes: 00:00:00 - Introduction, Melina welcomes listeners to a special episode on the sense of touch, which celebrates the five-year anniversary of The Brainy Business podcast. She talks about the importance of touch in our lives and how it is directly linked to emotional language. Melina also thanks listeners for their support and explains the purpose of the episode. 00:04:44 - How Touch Works, Melina explains that the skin has many nerve endings, and they all have different jobs of being receptive to temperature, pressure, or pain. She also discusses the concept of relativity and how it impacts our sense of touch. Melina compares the subconscious brain to a small child and how emotional touch and sensation are closely linked. 00:09:06 - Touch and Teamwork, Melina discusses the importance of human contact, especially touch, on our development throughout our lives. She explains how touch impacts the overall effectiveness of teams and cites a study from UC Berkeley that found NBA teams who engaged in more celebratory touch won more games and played better together. 00:14:22 - The Power of Touch in Business, Melina talks about the impact of touch in business, including the endowment effect, perceived ownership, and loss aversion. She explains how touch triggers these concepts and increases the value of products. Melina also discusses how touch impacts customer experience and how businesses can use it to their advantage. 00:19:34 - Touch Without Touch, Melina talks about the power of touch without touch, which is how even service-based businesses and those entirely online can leverage the sense of touch. Hint: your eyes are amazing! 00:16:32 - Incorporating Touch Appropriately, HR departments should be consulted to ensure touch is incorporated appropriately. Touch is a powerful tool for creating impressions, so it's important to be mindful of the message being conveyed through touch. 00:17:37 - The Power of Texture in Print, Texture plays a crucial role in creating a favorable impression in print materials. The texture of paper can say a lot about a business, and investing in high-quality materials can reflect positively on the brand. 00:20:14 - The Importance of Touch in Sales, Touch is a crucial element in sales, as it increases the sense of ownership that a person feels over an item. Even online sales can benefit from the power of touch, as images and descriptions can trigger perceived ownership and lead to buying. 00:23:11 - The Impact of Touch in Personal Interactions, Touch plays a significant role in personal interactions. Service businesses should consider how they interact with clients and what impression they are leaving, as touch is one of the key senses that people use to interpret others. 00:31:40 - How Touch Influences Perception, Touch influences perception, and people tend to associate touch terms with the way they interpret brands and people. It's important to consider the impression being left on others in interactions and what it means in touch terms. 00:34:04 - The Value of Touch and Concrete Concepts, Melina discusses the importance of touch and how it can make something feel real even when it's just words or an idea. She highlights the value of metaphors and concrete concepts in making ideas more relatable and actionable. This sets the foundation for the upcoming conversation with data artist Sarah K. Miller. 00:35:16 - Celebrating Five Years of The Brainy Business, Melina announces the upcoming five-year anniversary episode with data artist Sarah K. Miller. She encourages listeners to subscribe to the podcast and leave a review to help spread the word about making business more brain-friendly. She also highlights her book, What Your Customer Wants and Can't Tell You, which features the sense of touch in the priming chapter. 00:36:27 - Building Your Knowledge on the Sense of Touch, Melina encourages listeners to dig deeper into the sense of touch by exploring related past episodes, books, and articles. She emphasizes the importance of applying the senses in business and how they can help to drive action. 00:37:13 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Evolutionary Ideas, by Sam Tatam What Your Customer Wants and Can't Tell You, by Melina Palmer Marketing to Mindstates, by Will Leach Alchemy, by Rory Sutherland Magic Words, by Jonah Berger Top Recommended Next Episode: What is Cognitive Semiotics? (ep 257) Already Heard That One? Try These:  Priming (ep 252) Sight (ep 24) Hearing (ep 300) Taste (ep 26) Smell (ep 298) Loss Aversion (ep 9) Herding (ep 264) Change Management: It's Still Not About The Cookie (ep 226) Your Guide to Create a Brainy Brand (ep 230) Rebrand, Refresh, or Reinforce? (ep 44) What Your Customer Wants and Can't Tell You (ep 147) Evolutionary Ideas with Sam Tatam (ep 203) Mirror Neurons (ep 31) Endowment Effect (ep 139) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter The Science of Touching and Feeling | David Linden | TEDxUNC Grinch's Heart Grows Sense of Touch New Study: When NBA Players Touch Teammates More, They and Their Teams Play Better Tactile Communication, Cooperation, and Performance: An Ethological Study of the NBA The Effect of Mere Touch on Perceived Ownership Visual Perception of Texture of Textiles

On today's episode, BJ talks with Holly Bolton, Owner of 3chord Marketing. Holly talks about how she found her way into the A/E/C industry, the specificities of the niche marketing she engages with at 3 Chord, and the importance of awareness building in the industry. Resources mentioned: “You Are Not So Smart”  by David McRaney: https://www.amazon.com/You-Are-Not-So-Smart/dp/1592407366“What Your Customer Wants and Can't Tell You” by Melina Palmer: https://www.amazon.com/What-Your-Customer-Wants-Cant/dp/1642505625“The Person You Mean to Be: How Good People Fight Bias” by Dolly Chugh: https://www.amazon.com/Person-You-Mean-Be-People/dp/0062692143Find Holly on LinkedIn: https://www.linkedin.com/in/hollybolton/Inspiring People and Places is brought to you by MCFA. Visit our website www.MCFAglobal.com and sign up for our weekly newsletter where we curate some of the top industry articles of the week and give you a dose of inspiration as you head into the weekend!  MCFA IS HIRING!!  If you or anyone you know are looking to work in the Planning, Project Development, Project Management, or Construction Management field, contact us through our website. Interns to Executives...we need great people to help us innovate and inspire, plan, develop and build our nation's infrastructure.  Check out our MUST FILL positions here https://mcfaglobal.com/careers/.  We reward the bold and the action oriented so if you don't see a position but think you are a fit...send us an email!  Learn more at www.MCFAGlobal.com

The ability to identify and interpret sounds is a vital aspect of human existence, shaping how individuals interact with the world around them. Sound can be both comforting and distracting, encompassing a wide spectrum of experiences. For this reason, understanding the impact of sound in marketing can be a game-changer, as it allows businesses to create more immersive experiences for customers and foster an emotional connection. Moreover, sound can help guide consumer behavior, enhancing their experience with a brand or product. Melina Palmer emphasizes the significance of sound on human emotions and interactions, and how it can be harnessed in marketing to influence buying behavior. Analyzing the journey of sound waves as they travel from the eardrum to the brain, she identifies music as a particularly powerful element of sound, with the unique ability to provoke strong physical and emotional reactions. Discover the crucial role of hearing in successful marketing campaigns. Learn how music can effectively steer consumer choices. Uncover the remarkable influence of jingles on brand loyalty. Find out why sound can create different perceptions of price. Celebrate the milestone 300th episode and show appreciation to our loyal listeners. Show Notes: 00:00:00 - Introduction, Melina Palmer celebrates the podcast's 300 episode milestone (woo!) and explains about these refreshed episodes on senses. This episode discusses the sense of hearing and complements Melina's conversation with Jonah Berger (coming this Friday in episode 301), where they talk about his new book, Magic Words. 00:03:22 - How We Hear, Melina explains how sound waves turn into physical vibrations, which then stimulate tiny hairs in the ear that move molecules around and send signals to the brain for interpretation. The brain interprets the signals and determines what we're hearing. 00:08:12 - The Power of Sound, Sound has a significant impact on our ability to focus and perform. Noise-canceling headphones can help block out distractions, allowing people to focus better. Music is also powerful and can impact our bodies physically and emotionally. 00:11:14 - Music and the Brain, Humans are unique in their ability to understand, predict and interpret music. Music releases chemicals in the brain that can make people feel good or bad. It can also help people heal, as seen in studies with Parkinson's patients and those with brain injuries. 00:15:38 - Sound in Business, Atmospherics, including sounds, can be used in marketing to trigger emotional states that influence buying behavior. Restaurants can play faster music to turn over more clientele, while slower music can make people stay longer and buy more. 00:17:20 - Importance of Music in Stores, Studies show that stores need to carefully select brand-matching music to encourage shoppers to stay longer. Music that fit the brand persona increased time in store and the amount purchased. Familiar music may seem to make people stay longer, but in reality, it's the unknown music that has the increase. 00:19:31 - The Power of Jingles, Sound has a strong connection to memory, emotion, and behavior. Jingles associate brands into our brains in a different way than words or images. Little changes in sound can make a big difference. 00:23:06 - The Impact of Sound on Podcasts, The sound on the podcast intro and outro helps people relate to the host. The right voice, vocal inflection, and even smiling while talking can change the podcast experience. Sound is everything leading up to the sale conversation. 00:25:00 - Sound Impact on Pricing, The way a number is sounded out can impact the perception of price size. Some vowels give off the perception of being bigger than others, and this translates to a bigger price in the brain. This impact can happen even when prices are not heard or spoken. 00:29:48 - Thank You and Resources, Melina thanks listeners for 300 episodes and celebrates the mostly audio show with an episode on The Sense of Hearing. Resources, related past episodes, books, and articles are available in the show notes. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Evolutionary Ideas, by Sam Tatam What Your Customer Wants and Can't Tell You, by Melina Palmer Marketing to Mindstates, by Will Leach Alchemy, by Rory Sutherland Magic Words, by Jonah Berger Top Recommended Next Episode: The Top 5 Wording Mistakes Businesses Make (ep 2) Already Heard That One? Try These:  Priming (ep 252) Sight (ep 24) Touch (ep 28) Taste (ep 26) Smell (ep 298) Loss Aversion (ep 9) Herding (ep 264) Change Management: It's Still Not About The Cookie (ep 226) Your Guide to Create a Brainy Brand (ep 230) Rebrand, Refresh, or Reinforce? (ep 44) What Your Customer Wants and Can't Tell You (ep 147) Evolutionary Ideas with Sam Tatam (ep 203) Mirror Neurons (ep 31) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter How Do We Hear? Hearing & Balance: Crash Course A&P #17 Beats by Dre goes ‘Above the Noise' with Olympic athletes in latest campaign Beats by Dre x Colin Kaepernick Hear What You Want Commercial Explained Ed Sheeran – Shape Of You – Loop Pedal Version Atmospherics as a Marketing Tool The Effects of Background Music on Consumer Responses in a High-end Supermarket The Impact of Music on Consumers' Reactions to Waiting for Services 10 Iconic Horror Theme Songs Are Emotionally Different with a Major Key Change Mrs Doubtfire Recut as a Horror Movie The Shining (happy version) Small Sounds, Big Deals: Phonetic Symbolism Effects in Pricing

Incorporating the sense of smell in branding is an effective way to create emotional connections with customers. By utilizing scents that evoke positive memories and emotions, businesses can foster a sense of familiarity and trust, directly influencing consumers' perception of a brand's value. The appropriate application of scent marketing can significantly impact customer behavior and sales performance. Melina Palmer delves into the strategic use of scent in branding and shares examples of successful scent marketing in action. She discusses how a powerful scent can have surprising consequences on a consumer, with a personal story about Lush. Her insights provide a powerful blueprint for marketers and business owners to successfully integrate scent into their branding strategies, leading to enhanced customer experiences and brand loyalty. Discover the fascinating impact of scent marketing on consumer behavior and decision-making. Uncover the deep connections between smell, memory, and emotion and their role in guiding customer choices. Learn how businesses create unforgettable experiences and associations through strategic scent implementation. Explore real-life examples of successful scent marketing across diverse industries and contexts. Grasp the significance of selecting the right scents to create a cohesive customer journey and achieve your objectives. Show Notes: 00:00:00 - Introduction,  Melina introduces the episode and explains why she has started doing a refresh of earlier episodes each week. She discusses the upcoming special episodes and show milestones, and gives a brief overview of the topics that will be covered. 00:05:22 - How Smell Works, Melina explains how the sense of smell works and how it is closely linked to memories and emotions. She discusses the evolution of smell and how it has helped humans survive. 00:09:23 - The Power of Memories, Melina talks about how smell is linked to memories and how it can trigger vivid emotions that “take you back” to an earlier time. She explains how childhood memories are the most powerful and discusses the association between scent and physical attraction. 00:12:10 - Using Smell in Branding, Melina discusses how businesses can use scent to create positive associations with their brand and products. She talks about how the sense of smell can be used in real estate to sell homes and gives examples of brands that use scent marketing and scent logos. 00:15:58 - Signature Scents, Melina talks about how signature scents for brands and colognes are complex and often contain a mix of different smells. She provides a link for listeners to find out the ingredients in their favorite perfume or cologne and discusses the power of scent in branding. 00:17:25 - The Power of Scent in Business, Scent has the ability to impact the way customers interact with a business. Studies have shown that pleasant ambient odors can increase sales and improve behavior. Companies can hire experts to help them choose the best signature scent for their brand, because the associations made in the brain matter. 00:21:47 - The Impact of Different Scents, Different scents can trigger different emotions and behaviors. For example, a feminine scent in a women's clothing store can increase sales, while the scent of lemon can encourage people to order seafood at a restaurant. The context is important, and brands need to be strategic and intentional with their scent choices. 00:25:49 - The Importance of Scent in Branding, Scent is closely related to our memories and nostalgia, which can have a significant impact on buying behavior. Good smells can improve recall of brands, while bad smells can make it difficult to focus. Brands need to understand their customers and the context to choose scents that align with their brand experience. 00:28:27 - Mirror Neurons and Scent Memory, Mirror neurons are one reason why our brain reacts to certain words or images and can trigger scent memory. This is why the Food Network carefully chooses trigger words to influence food memories and make people hungry. Even if a business doesn't sell food, they can still use scent to prime behavior and trigger emotions. 00:32:07 - Conclusion, Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show. I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Evolutionary Ideas, by Sam Tatam What Your Customer Wants and Can't Tell You, by Melina Palmer Marketing to Mindstates, by Will Leach Alchemy, by Rory Sutherland What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: The Top 5 Wording Mistakes Businesses Make (ep 2) Already Heard That One? Try These:  Priming (ep 252) Sight (ep 24) Hearing (ep 27) Touch (ep 28) Taste (ep 26) Loss Aversion (ep 9) Herding (ep 264) Change Management: It's Still Not About The Cookie (ep 226) Your Guide to Create a Brainy Brand (ep 230) Rebrand, Refresh, or Reinforce? (ep 44) What Your Customer Wants and Can't Tell You (ep 147) Evolutionary Ideas with Sam Tatam (ep 203) Mirror Neurons (ep 31) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Let Them Sniff, Customers Will Buy More The Science of Smell: How Retailers Can Use Scent Marketing to Influence Shoppers Good Smells are Good Marketing: How to Use Scent to Your Advantage Making Sense of the Hotel Guestroom The Impact of Ambient Scent on Evaluation, Attention, and Memory for Familiar and Unfamiliar Brands Smells Like Psychology The Smell of Commerce: How Companies Use Scents to Sell Their Products The Science of Sensory Marketing Productivity Hack Of The Week: Use Aromatherapy To Improve Your Work Inside the Invisible but Influential World of Scent Branding The Art of Scent Marketing 2-Minute Neuroscience: Limbic System How Do We Smell? – Rose Eveleth The Power of Scent Hippocampal Projections to the Anterior Olfactory Nucleus Differentially Convey Spatiotemporal Information During Episodic Odour Memory The Neuroscience of Smell Memories Linked to Place and Time Smells Ring Bells: How Smell Triggers Memories and Emotions How Does Scent Drive Human Behavior? Fragrant Flashbacks Perfume Directory

Non-obvious thinking is an essential skill for marketers who want to innovate and stay ahead in their respective industries. By being open to new ideas, recognizing patterns between seemingly unrelated things, and fostering a curiosity-driven mindset, marketers can unlock significant opportunities that others may overlook. Non-obvious thinking enables individuals to explore new territories and challenge conventional wisdom, leading to breakthroughs in marketing strategies and business growth.  During the conversation, Rohit Bhargava discusses this crucial aspect of thinking and its relevance in today's rapidly changing world. He shares his journey of developing the non-obvious platform through his books and thinking, emphasizing the importance of intersection thinking and breaking away from media bias. By adopting non-obvious thinking, marketers can effectively navigate the ever-changing landscape and consistently deliver exceptional value to their audiences. In this episode: Tap into the significance of non-obvious thinking for exceptional marketing and business approaches. Discover the magic of storytelling as a powerful method for resonating with and engaging audiences. Develop a savvy mindset to detect non-obvious trends within data to stay ahead of the game. Embrace the indispensable roles curiosity and observation play in cultivating trailblazing ideas. Transform your perspectives to see a brighter and more promising outlook on the future. Show Notes: 00:00:00 - Introduction, Melina welcomes Rohit Bhargava: a bestselling author and speaker on trends, innovation, and marketing. Rohit talks about his background and expertise in non-obvious thinking and behavioral economics. 00:06:30 - Non-Obvious Thinking, Rohit talks about his platform, Non-Obvious, which emphasizes the importance of being a non-obvious thinker and finding ideas in unusual places. Melina talks about combinatorial thinking, and Rohit shares his framework for intersectional thinking, which involves seeing connections between seemingly unrelated things. 00:09:00 - Importance of Diverse Perspectives, Rohit emphasizes the importance of exposing oneself to diverse perspectives and media to avoid being manipulated or outraged. He notes that this approach can also lead to creativity and innovation. 00:14:45 - Non-Obvious Examples, Rohit shares the example of Starbucks and how Howard Schultz's visit to Milan led him to discover the importance of coffee shops as community spaces. (An idea he would have missed if he had been looking down at a phone.) He also talks about the importance of non-obvious thinking in marketing and advertising to creatively solve problems and understand people's behavior. 00:20:25 - The Future Normal, Rohit discusses his latest book, The Future Normal, which offers insights into what the future may hold. He emphasizes the importance of being adaptable and open-minded in a rapidly changing world. 00:15:03 - Importance of Being Observant, Rohit Bhargava shares the story of how Howard Schultz's observant nature led to the creation of Starbucks. He emphasizes the importance of being observant and paying attention to the things around us instead of being distracted by technology. 00:17:01 - The Five Habits of Non-Obvious Thinkers, Bhargava talks about the five habits of non-obvious thinkers, which include being observant, curious, thoughtful, fickle, and saying things elegantly. He explains that these habits can be learned and practiced to improve communication skills. 00:21:24 - The Importance of Understanding People, Bhargava emphasizes that people who understand people will always win, even in the age of technology. He explains that emotions play a big role in decision-making and that understanding how to connect with people is crucial in many fields, including marketing, advertising, and leadership. 00:25:32 - The Power of Storytelling, Bhargava discusses the importance of storytelling in communicating ideas and engaging with people. He shares the story of Dick Fosbury, the Olympic athlete who revolutionized the high jump with his unconventional technique (now known as the Fosbury Flop), and explains how stories can help people understand complex concepts in a relatable way. 00:28:27 - Using Analogies in Storytelling, Bhargava suggests that storytelling doesn't always have to be long and drawn out, but can also be as simple as using an analogy. 00:30:00 - The Importance of Storytelling in Presentations, Rohit emphasizes the importance of storytelling in presentations and how it can take the audience on a journey. He also stresses the need to read the room and adjust the storytelling approach accordingly. 00:31:07 - Storyboarding for Presentations, Bhargava talks about storyboarding, a process of outlining the flow of the presentation, which he compares to scene planning in screenwriting. He suggests watching master storytellers or reading books on screenwriting to learn the techniques used in creating engaging stories. 00:34:19 - Becoming a Great Presenter, Bhargava shares his journey of becoming a great presenter, emphasizing that natural talent is not the only factor in achieving this goal. He recommends finding what you are good at and honing your skills, investing time and effort into learning new ones, and practicing. 00:35:44 - Tips for Writing a Book, Bhargava suggests being honest with oneself about their relationship with writing and finding joy in it. He stresses that there is no one right way to write a book, and one should choose a method that works for them. Bhargava also talks about the different experiences he's had in writing his nine books. 00:39:00 - The Future Normal, Bhargava's latest book, "Future Normal," showcases trends that will shape the future, spanning topics such as space tourism, virtual relationships, weather control, and artificial intelligence. 00:44:39 - Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Future Normal, by Rohit Bhargava and Henry Coutinho-Mason Personality Not Included, by Rohit Bhargava Evolutionary Ideas, by Sam Tatam Alchemy, by Rory Sutherland What Your Customer Wants and Can't Tell You, by Melina Palmer Connect with Rohit:  Rohit on Twitter Non-Obvious Nation on LinkedIn Get the Non-Obvious Newsletter Top Recommended Next Episode: Evolutionary Ideas, with Sam Tatam (ep 204) Already Heard That One? Try These:  A More Beautiful Question, with Warren Berger (ep 200) Priming (ep 252) Framing (ep 296) Getting Along, with Amy Gallo (ep 269) Focusing Illusion (ep 89) Confirmation Bias (ep 260) The Life-Saving Skill of Story, with Michelle Auerbach (ep 288) Behavioral Storytelling, with David Paull (ep 289) What Your Customer Wants and Can't Tell You (ep 147) Starbucks: Behavioral Economics Analysis (ep 278) Design for Decisions, with Sam Evans (ep 291) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter Get the Non-Obvious Newsletter

In the context of business messaging, frames play a crucial role in shaping the way potential customers perceive products and services. Different frames can evoke distinct emotions or reactions, as well as influence the customers' decision-making process. When applied effectively, framing can make a product or service more appealing, inspiring curiosity and generating positive associations in the minds of potential buyers. Framing can also demonstrate the benefits and value provided by a particular offering, ultimately increasing the chances of conversion.  In the podcast, Melina Palmer discusses the importance of framing in marketing and advertising. She emphasizes that the presentation of a message, including the choice of words and phrasing, can have a significant impact on the way it is received and acted upon by the target audience. As such, marketers should carefully consider the use of frames, always taking into account the context in which they communicate their offering. By doing so, they can maximize their chances of resonating with potential customers and increase sales. Insights in this episode will help you to: Grasp the power of framing and its influence on people's perception and communication. Master the art of employing framing tactfully in advertising and marketing campaigns. Adopt ethical framing practices to genuinely benefit consumers. Implement insightful techniques for effective framing in your business messaging. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the topic of framing and explains why it's essential for anyone looking to apply behavioral economics to their business. 00:03:24 - The Power of Frames, Melina explains how frames impact the way we perceive the world around us and how our subconscious brain evaluates everything very quickly. 00:09:23 - The Nail Salon Example, Melina uses the nail salon example from episode 2 to illustrate how framing can make a difference in how people perceive your business. 00:12:51 - Loss Aversion and Framing, Melina discusses how framing can impact loss aversion and how losses are actually twice as powerful a motivator as gains according to research by Kahneman and Tversky. 00:14:44 - Examples of Framing, Melina provides examples of how framing impacts the way we perceive things, such as labeling food as "90% fat-free" vs. "10% fat" or saying "Serena lost" vs. "Osaka won" in the context of the US Open. 00:17:16 - Importance of Context in Framing, The way a message is framed can impact how someone reacts to it, based on their individual context. For example, promoting a credit card bonus offer may annoy existing cardholders who are not eligible. Therefore, it's crucial to consider the context and placement of messaging when developing marketing strategies. 00:18:15 - Tversky's Studies on Framing, Tversky conducted several studies on framing, including one on the impact of framing on doctors' decisions about lung cancer treatment options. The study showed that framing the same information differently can lead to significantly different outcomes. 00:20:07 - The Disease Problem, The Disease Problem is a classic example of the impact of framing on decision-making. In the study, participants were more likely to choose a risky option when the information was framed positively, as opposed to when it was framed negatively. 00:25:33 - Examples of Verbiage Using Framing, Verbiage such as "Chevron with Techron" or "America's best selling brand" are examples of framing in marketing. The way a message is presented can impact how it's received by the audience, and it's crucial to choose the right framing to achieve desired outcomes. 00:29:43 - The Impact of Naming on Framing, Choosing the right name for a business can impact its success. A poorly framed name such as "Avg Daycare" can negatively impact business, whereas a well-framed name can have a big positive impact. 00:35:39 - The Impact of Framing on Consumer Behavior, Framing can impact the way consumers feel about a product or service. A well-worded frame can help someone appreciate a product or service, while a poorly worded frame can repel them from it. It's important to use framing in a way that helps people see the benefits of a product or service without tricking them. 00:39:27 - The Power of Claiming Ownership, When a company makes a claim, even if it's something their competitors could also claim, it becomes associated with their brand. The power of claiming ownership is evident in BECU's marketing campaign, which made it difficult for other credit unions to use similar messaging (even though it was true for them as well). 00:43:38 - Implementing Framing Strategies, Melina's top three framing strategies to try right now: replacing "if" with "when," using "everyone" instead of "anyone," and ending with a question. Curious why? Listen in... 00:47:22 - Conclusion Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: How Minds Change, by David McRaney What Your Employees Need and Can't Tell You, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer Getting Along, by Amy Gallo Both/And Thinking, by Wendy Smith and Marianne Lewis Top Recommended Next Episode: The Top 5 Wording Mistakes Businesses Make (ep 2) Already Heard That One? Try These:  Priming (ep 252) Loss Aversion (ep 9) Herding (ep 264) Unlocking the Power of Numbers (ep 17) The Truth About Pricing (ep 5) Change Management: It's Still Not About The Cookie (ep 226) Your Guide to Create a Brainy Brand (ep 230) Rebrand, Refresh, or Reinforce? (ep 44) Present vs Future Biases (ep 246) Counterfactual Thinking (ep 286) Prefactual Thinking (ep 232) The Littery (ep 75) How To Become Indistractable, with Nir Eyal (ep 290) Focusing Illusion (ep 89) Confirmation Bias (ep 260) The Hype Handbook, with Michael F. Schein (ep 143) What Your Customer Wants and Can't Tell You (ep 147) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Melina Palmer is the founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes worldwide. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics to many universities and businesses. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and writes a column on behavioral economics for Inc Magazine. Her first book, What Your Customer Wants and Can't Tell You, was published in May 2021 and was a finalist in two categories of the International Book Awards. Her second book, What Your Employees Need and Can't Tell You, is out now! Find out more at thebrainybusiness.com. Christy Ford is the co-founder of The Scout Guide. She started her career as a photographer and later moved to Charlottesville, opening a Georgian antique and home store with her mother. As the business grew, Christy realized there was a lack of successful advertising opportunities for local small businesses. She was driven to find a solution, so The Scout Guide was born. Today she and her partner have more than 79 cities where their franchise publications are printed and shared to support the local business community. Christy leads creative direction and branding across the business. For more information, you can check out TheScoutGuide.com. Tracey Gordon has served as a pillar of change for Philadelphian constituents for over 20 years. Her organizing and legislative success as a block captain and committeewoman in her modest Southwest Philadelphia neighborhood have propelled her from the ranks of local grassroots leadership and advocacy to an established city-wide activist. Now she serves at Philadelphia's first African American Register of Wills. To learn more, go to phila.gov/wills. Three amazing guests – Melina Palmer, Christy Ford, and Tracey L. Gordon – join me simultaneously for a fun, lighthearted, rapid-fire round of my favorite business questions.This week on SmallBizChat Podcast:Our guests' favorite podcasts.Their favorite business app.Their favorite old-school marketing tip.Plus a few other questions about great resources for up-and-coming business leaders.Resources Mentioned:BossQuiz: https://bossquiz.com/ SmallBizLady University: https://smallbizladyuniversity.com/ Podcasts Mentioned:The Brainy Business PodcastNegotiate Anything by Kwame ChristianHow I Built ThisMillion Dollaz Worth of GameApps Mentioned:FacebookInstagramCanvaBooks Mentioned:A More Beautiful Question by Warren BergerPowerNomics by Dr. Claud AndersonThe Success Principles™ by Jack CanfieldDisrupt You! by Jay SamitConnect with Melina Palmer:Website: https://www.thebrainybusiness.com Twitter: https://twitter.com/thebrainybiz LinkedIn: https://www.linkedin.com/in/melinapalmer/ Connect with Christy Ford:Website: https://thescoutguide.com/ LinkedIn: https://www.linkedin.com/in/christy-ford-0101578b/ Connect with Tracey L. Gordon:Website: https://www.phila.gov/departments/register-of-wills/ Twitter: https://twitter.com/mstraceygordon YouTube: https://www.youtube.com/channel/UCYfWw8B1hPs2vYIDe-tzEag

In today's episode, we're joined by Melina Palmer - author of What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics, to talk about the secrets of consumer decisions and how to use behavioral economics to communicate more effectively and boost your bottom line.Watch this episode on YouTube here: https://www.youtube.com/watch?v=A97KQBPBvkgRead a transcript of this episode here: https://www.intercom.com/blog/videos/behavioral-economics-expert-melina-palmer-on-unlocking-the-science-of-consumer-behavior/If you'd like to get a free chapter from both of Melina's books just go to www.thebrainybusiness.com/intercom See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Melina Palmer is the founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes worldwide. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics to many universities and businesses. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and writes a column on behavioral economics for Inc Magazine. Her first book, What Your Customer Wants and Can't Tell You, was published in May 2021 and was a finalist in two categories of the International Book Awards. Her second book, What Your Employees Need and Can't Tell You, is out now! Find out more at thebrainybusiness.com. Tonight's show is about digging in and learning more about your customers and why they buy. If you're looking for ways to build a deeper relationship with your target customers, you're in the right place because we will discuss behavioral economics. "What I do is help people to see how you can take those common rules and then apply them in a way that's going to make it more likely to be successful, more likely for people to choose you, and to feel good about those decisions." – Melina PalmerThis week on SmallBizChat Podcast:How Melina got her start in behavioral economics. Why making decisions is like riding an elephant. B2B vs. B2C buyers. Understanding our habits and the way brains make decisions. It's not about the cookie. Secrets of pricing your brand or product. The one word that increases sales by 33%. Top 5 mistakes small businesses make when writing copy or creating ads.Resources Mentioned:BossQuiz: https://bossquiz.com/ Connect with Melina Palmer:Website: https://www.thebrainybusiness.com Twitter: https://twitter.com/thebrainybiz LinkedIn: https://www.linkedin.com/in/melinapalmer/ Facebook: https://facebook.com/thebrainybiz Instagram: https://instagram.com/thebrainybiz

Today, I am joined by Dr. Mindy Weinstein. Mindy is the founder and CEO of Market MindShift and was named one of the top women in digital marketing globally by her peers. She is also a global speaker, trainer, and digital marketing strategist who has worked with and trained companies of all sizes, including Facebook, The Weather Channel, Rosetta Stone, World Fuel Services, Investor's Business Daily, HBO, Fandango, Telemundo, LL Bean, Cisco, Transamerica, and Sportsman's Guide. Other digital marketing agencies come to Mindy to learn the latest trends, concepts, and methodologies. She teaches and leads marketing courses at Columbia Business School, The Wharton School at the University of Pennsylvania, Grand Canyon University, and the University of Denver.  Getting introduced to Mindy was fascinating timing. A client asked if there was a book specifically about choosing the right type of scarcity tactics and how to apply them in her business. I let her know there wasn't a perfect fit and recommended What Your Customer Wants and Can't Tell You, as a great place to start. Later that day, I got a LinkedIn message from Brian Ahearn, introducing me to Mindy, who had just published her book, The Power of Scarcity: Leveraging Urgency and Demand to Influence Customer Decisions. And, let me tell you...everyone in business needs to read this. It is so valuable and such a great resource for everyone regardless of industry. Listen in to get some amazing insights on applying scarcity in your business! Show Notes: [00:43] In today's conversation, I am joined by Dr. Mindy Weinstein. Mindy is the founder and CEO of Market Mindshift and was named one of the top women in digital marketing globally by her peers. [02:02] She has a Ph.D. in general psychology with an emphasis on technology and is the author of The Power of Scarcity.  [03:07] Everyone in business needs to read this book. It is so valuable and such a great resource for everyone regardless of industry.  [04:57] Mindy shares about herself, her background, and the work she does. She has been a marketer for the last two decades.  [06:07] As she was digging into all the factors, she realized that scarcity seemed to have the greatest power. It is also one of those factors that have been hardwired into our brain which dates back to our early ancestors.  [08:39] “Obsession is a classic side effect of scarcity.”  [09:24] Mindy shares how scarcity affected her family on their visit to Disney World. [12:06] The Star Wars ride was in high demand and it was difficult to get on. When you are faced with something like that, it becomes urgent and an obsession for your brain.  [14:52] Even though we know scarcity works, it can be really challenging to implement in business.  [15:08] Scarcity is something you can implement and it always needs to be genuine. If it is authentic and something is truly scarce, why not communicate it?  [15:42] As a small business a lot of times it is just your wording that makes a difference. Knowing how to word certain things makes a big difference.  [17:22] One of the keys is not being afraid of running out of stock and instead making that an asset to you. Letting customers know items have been restocked triggers demand related scarcity.  [19:31] Businesses can show the “best sellers” or “most popular” packages or most popular items that people buy.  [20:28] There is a lot you can do from a business and small business standpoint that isn't going to break the bank.  [22:14] Luxury goods strive with supply related scarcity when there is only a certain amount of units.  [24:47] When you are looking at the scarcity tactic you can still be a large retailer that is making a lot of money and having a lot of customers but be more focused and making sure that the things where you are advertising are going to be working for you instead of being a waste.  [26:22] Time related scarcity is any kind of time restrictions like flash sales, coupons, or limited time offers or products. Demand related is where scarcity exists because of high demand.  [28:30] Pricing isn't about price. All the stuff that happens before the price matters.  [29:10] If there is only so much of something to go around and we are looking at demand you feel like you are in competition.  [31:18] Supply related scarcity could be a shortage or an intentional restriction on supply. Supply related scarcity speaks to people that have a need for uniqueness.  [33:11] The final type of scarcity is limited edition which is any variation on the original.   [35:44] Social media fuels so much of what we know and see about scarcity because words spread really quickly. [38:38] “If you have to make an extra effort to obtain the item, that item has just become more attractive.” [39:11] If we are told we can't have something or it is not very simple for us to get it then we start to really think about it and want it more.  [40:34] As we think about all these different types of scarcity, be careful about continuing to do the same thing over and over again. You want to mix it up so you don't devalue your products or services.  [42:20] Discounting deeply is going to be going against a lot of these scarcity principles.  [44:36] Melina's closing thoughts [45:43] You never know who you are influencing and what value each moment can have on the world. Have a conversation and be generous with your time. Even a few thoughtful minutes could change someone including you for the better. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: The Power of Scarcity, by Mindy Weinstein Influence, by Robert Cialdini Influence PEOPLE, by Brian Ahearn What Your Customer Wants and Can't Tell You, by Melina Palmer Friction, by Roger Dooley Connect with Mindy:  Mindy's Website Mindy on LinkedIn Mindy on Twitter Top Recommended Next Episode: Scarcity (ep 14) Already Heard That One? Try These:  Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (ep 157) How To Ethically Influence People: Interview with Author Brian Ahearn (ep 104) Herding (ep 19)  Social Proof (ep 87) Coronavirus and How the Brain Responds to Pandemics (ep 91) Get Your D.O.S.E. of Brain Chemicals (ep 123) Time Pressure (ep 74) Surprise and Delight (ep 60) Disney: A Behavioral Economics Analysis (ep 144) What is Value? (ep 234) Framing (ep 16) Friction - What It Is And How To Reduce It, with Roger Dooley (ep 72) Sludge (ep 179) Loss Aversion: Why Getting New Stuff Is Not The Same (ep 9) A Behavioral Economics Analysis of Costco (ep 47) Starbucks: A Behavioral Economics Analysis (ep 73) Priming (ep 18) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter

Join the Priority Waitlist for Exclusive Perks With Melina Palmer:  https://thebrainybusiness.ac-page.com/breakthrough-experience The Brainy Business Breakthrough Experience https://thebrainybusiness.ac-page.com/breakthrough-experience Introducing The Brainy Business Breakthrough Experience! The Short Version: After the retreat, you will get more done AND ensure those things are taking your business toward your next, big, revenue generating strategy. Yes please! The perfect balance of mind wandering and focused work This event is for successful small business owners who are ready to take their business to its next level. That could be anything from adding a new product or service or "passive" income stream, to narrowing down the offers you already have so you can focus on achieving more with less. And don't worry about knowing what that is before we go -- that's the whole point!  Whether you are someone with too many ideas or if you struggle to do anything outside your "tried-and-true" business strategy, the process of identifying your next area of focus that will propel your business breakthrough is the same. Everyone needs to go through the process of zooming out to think differently about the problem you are solving, and then focusing in on the areas that will have the most impact for your company. I'll be there to guide you through this brainy process just like I have with all my clients over the years. At the end of the retreat you will be confident in:  1) insights into the four main biases that keep you "stuck in the muck" so you can be more productive every day   2) what to focus your business on for the next 1-3 years (and why that is your most important thing)  3) how to communicate it so others rally behind you Four days where everyone is a VIP This group is intentionally kept small so everyone gets tons of VIP attention from me throughout the retreat. That includes a meal (you get to select dinner or breakfast) with you, me, and one or two other attendees. When you claim your spot you also get: TWO 30-minute, one-on-one calls with me -- one to prime you for success before the event, and the other after to ensure everything is going as intended Access to an amazing cohort of small business owners like you to share brainy ideas with Plus, other brainy surprises you'll discover along the way  Request A Customized Workshop For Your Company: https://www.americannegotiationinstitute.com/services/workshops/ Follow Melina Palmer on LinkedIn https://www.linkedin.com/in/melinapalmer/ The Brainy Business LinkedIn page https://www.linkedin.com/company/the-brainy-business/ The Brainy Business website https://thebrainybusiness.com/ Buy her 1st book: "What Your Customer Wants." https://www.amazon.com/What-Your-Customer-Wants-Cant/dp/1642505625/ref=sr_1_1?crid=10B4A80OU3YNV&keywords=melina+palmer+books&qid=1678446131&sprefix=melina+palmer+boo%2Caps%2C410&sr=8-1 Buy her 2nd book: "What Your Employees Need." https://thebrainybusiness.com/employees-need/ Follow Kwame Christian on LinkedIn: https://www.linkedin.com/in/kwamechristian/ The Ultimate Negotiation Guide: https://www.americannegotiationinstitute.com/guides/ultimate-negotiation-guide/ Click here to buy your copy of How To Have Difficult Conversations About Race!: https://www.amazon.com/Have-Difficult-Conversations-About-Race/dp/1637741308/ref=pd_%5B%E2%80%A6%5Df0bc9774-7975-448b-bde1-094cab455adb&pd_rd_i=1637741308&psc=1 Click here to buy your copy of Finding Confidence in Conflict: How to Negotiate Anything and Live Your Best Life!: https://www.amazon.com/Finding-Confidence-Conflict-Negotiate-Anything/dp/0578413736/ref=sr_1_1?crid=2PSW69L6ABTK&keywords=finding+confidence+in+conflict&qid=1667317257&qu=eyJxc2MiOiIwLjQyIiwicXNhIjoiMC4xNCIsInFzcCI6IjAuMjMifQ%3D%3D&sprefix=finding+confidence+in+conflic%2Caps%2C69&sr=8-1

Join the Priority Waitlist for Exclusive Perks With Melina Palmer:  https://thebrainybusiness.ac-page.com/breakthrough-experience The Brainy Business Breakthrough Experience https://thebrainybusiness.ac-page.com/breakthrough-experience Introducing The Brainy Business Breakthrough Experience! The Short Version: After the retreat, you will get more done AND ensure those things are taking your business toward your next, big, revenue generating strategy. Yes please! The perfect balance of mind wandering and focused work This event is for successful small business owners who are ready to take their business to its next level. That could be anything from adding a new product or service or "passive" income stream, to narrowing down the offers you already have so you can focus on achieving more with less. And don't worry about knowing what that is before we go -- that's the whole point!  Whether you are someone with too many ideas or if you struggle to do anything outside your "tried-and-true" business strategy, the process of identifying your next area of focus that will propel your business breakthrough is the same. Everyone needs to go through the process of zooming out to think differently about the problem you are solving, and then focusing in on the areas that will have the most impact for your company. I'll be there to guide you through this brainy process just like I have with all my clients over the years. At the end of the retreat you will be confident in:  1) insights into the four main biases that keep you "stuck in the muck" so you can be more productive every day   2) what to focus your business on for the next 1-3 years (and why that is your most important thing)  3) how to communicate it so others rally behind you Four days where everyone is a VIP This group is intentionally kept small so everyone gets tons of VIP attention from me throughout the retreat. That includes a meal (you get to select dinner or breakfast) with you, me, and one or two other attendees. When you claim your spot you also get: TWO 30-minute, one-on-one calls with me -- one to prime you for success before the event, and the other after to ensure everything is going as intended Access to an amazing cohort of small business owners like you to share brainy ideas with Plus, other brainy surprises you'll discover along the way  Request A Customized Workshop For Your Company: https://www.americannegotiationinstitute.com/services/workshops/ Follow Melina Palmer on LinkedIn https://www.linkedin.com/in/melinapalmer/ The Brainy Business LinkedIn page https://www.linkedin.com/company/the-brainy-business/ The Brainy Business website https://thebrainybusiness.com/ Buy her 1st book: "What Your Customer Wants." https://www.amazon.com/What-Your-Customer-Wants-Cant/dp/1642505625/ref=sr_1_1?crid=10B4A80OU3YNV&keywords=melina+palmer+books&qid=1678446131&sprefix=melina+palmer+boo%2Caps%2C410&sr=8-1 Buy her 2nd book: "What Your Employees Need." https://thebrainybusiness.com/employees-need/ Follow Kwame Christian on LinkedIn: https://www.linkedin.com/in/kwamechristian/ The Ultimate Negotiation Guide: https://www.americannegotiationinstitute.com/guides/ultimate-negotiation-guide/ Click here to buy your copy of How To Have Difficult Conversations About Race!: https://www.amazon.com/Have-Difficult-Conversations-About-Race/dp/1637741308/ref=pd_%5B%E2%80%A6%5Df0bc9774-7975-448b-bde1-094cab455adb&pd_rd_i=1637741308&psc=1 Click here to buy your copy of Finding Confidence in Conflict: How to Negotiate Anything and Live Your Best Life!: https://www.amazon.com/Finding-Confidence-Conflict-Negotiate-Anything/dp/0578413736/ref=sr_1_1?crid=2PSW69L6ABTK&keywords=finding+confidence+in+conflict&qid=1667317257&qu=eyJxc2MiOiIwLjQyIiwicXNhIjoiMC4xNCIsInFzcCI6IjAuMjMifQ%3D%3D&sprefix=finding+confidence+in+conflic%2Caps%2C69&sr=8-1

Today's episode is all about herding. We humans are a herding species, just like cows and sheep and guppies, and this has a big impact on our behavior. We are tribal and we look to others to help us stay safe and make good decisions. Or, at least, what our subconscious tells us is a good decision. :) This is why things like testimonials are so important.  Herding has a dedicated chapter in my first book, What Your Customer Wants and Can't Tell You because they are so important for businesses to understand.  The reason I chose to refresh this episode is because of the guest who is joining me this coming Friday, Nick Epley. We talk about the importance of social connection and why we often don't do the things that will help us to be happier because we perceive them as being uncomfortable or awkward or against the social norms in the moment.  In the business context, imagine how much value could come from having a simple chat with your colleagues or people at a conference. Most people probably stick to their groups where they are already comfortable and don't strike up a conversation, but what could happen if you did? There is a lot of value in breaking from the herd and having that conversation, even for less than a minute, which we will talk about more on Friday when episode 265 with Dr. Nick Epley comes out. And as you listen today, I encourage you to reflect on all the times you thought about striking up a conversation or asking a question and didn't. What aspects of herding made you feel like you shouldn't and what can you do in the future to engage with others more? It is valuable for you both professionally and personally, I promise. Show Notes: [00:39] Today's episode is all about herding. We humans are a herding species, just like cows and sheep and guppies, and this has a big impact on our behavior. [02:21] In the business context, imagine how much value could come from having a simple chat with your colleagues or people at a conference. [04:07] Humans herd in the same way as other species for most of the same reasons. The main reason animals herd is for protection.  [05:41] Herding is in our nature.  [08:02] Herding helps us learn by observation. Watching where others go and following the group keeps you safe.  [09:38] As humans have evolved, herding behavior has not always served us well. Herding is there to protect individuals, not the group or a complex society as a whole.  [11:41] We choose restaurants by online reviews and crowdedness. We think the people must know something we don't.  [12:58] People are more likely to leave tips when others have done it.   [15:51] Herding mentality is much more likely to come out when people feel vulnerable or are unsure of themselves.    [17:23] It is better to be conventionally wrong than unconventionally right.  [18:58] Studies have shown that up to 75% of participants will give an answer they know is wrong to go with the group.  [21:07] When everyone follows the herd and doesn't take the time to do their own research stocks or companies get artificially inflated by the confidence of others.   [23:42] Crypto is absolutely impacted by the herd mentality.  [24:16] Always beware if your brain is making you feel anxious to take steps and do something just because everyone is doing it or having your FOMO triggered in a way that makes you want to do less research before investing your time, energy, or other resources.   [27:48] People like to be part of the group and this is increased when the other people in the group are comparable and more like you.  [28:14] Whatever your business does, you are in the business of solving problems. The only reason people buy anything is to solve a problem.  [30:52] Being in a group makes us feel safe and happy because of this release of oxytocin. When we are not part of the group, our brains do whatever they can to get that bliss feeling back by seeking out more group relationships to help us feel safe and warm.  [33:28] while we can't change our natural tendency to herd, you do have options to change your behavior.  [34:28] Understanding what will trigger herd mentality in your customers for both good and bad can help you to message better and more effectively.  [36:52] If you really care about starting a movement, have the courage to follow and show others how to follow. When you find a lone nut doing something great, have the guts to be the first one to stand up and join in.  [37:09] Melina's closing thoughts [40:52] Be thoughtful with the numbers you put out into the world, and consider the herding implications for what you want people to do in the long run. [41:59] Consider how social norms and herding instincts may keep you from having conversations with other people.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Influence, by Robert Cialdini What Your Customer Wants and Can't Tell You, by Melina Palmer How Customers Think, by Gerald Zaltman The Power of Us, by Jay Van Bavel and Dominic Packer You Have More Influence Than You Think, by Vanessa Bohns Top Recommended Next Episode: Social Proof (ep 87) Already Heard That One? Try These:  Framing (ep 16) Priming (episode 18) Get Your D.O.S.E. of Brain Chemicals (ep 123) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (ep 157) Unity (ep 216) The Power of Us with Dr. Dominic Packer (ep 178) You Have More Influence Than You Think, Vanessa Bohns (ep 197) Unlocking The Secrets Of The Brain (ep 1) Unlocking the Power of Numbers (ep 17) Availability Bias (ep 15) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Poll: Despite Record Turnout, 80 Million Americans Didn't Vote. Here's Why 6 in 10 Americans don't have $500 in savings Presidential Election Voting  Human Herding: How People are Like Guppies The Unwisdom of Crowds Herding, social influence and economic decision-making: socio-psychological and neuroscientific analyses Herd behavior in consumers' adoption of online reviews Which restaurant should I choose? Herd behavior in the restaurant industry Watch These Awkward Elevator Rides From an Old Episode of Candid Camera Herding Behavior in Social Media Networks in China Herd Instinct Warren Buffett explains one thing people still don't understand about bitcoin Herding behavior in cryptocurrency markets Science Of Persuasion Oxytocin The Brain and the Herd Mentality How to Start a Movement Derek Sivers

I love partitioning! It is such an under-discussed concept, which is why I decided to refresh this episode from 2019 for you here today. Partitioning is closely related to friction or sludge, but it isn't exactly the same. While an experience that has partitions may be creating friction/sludge, it isn't just about that. And, it isn't always about reducing it. Sometimes, adding a partition is really useful when you want someone to stop and think. I'll get into that more as we dig into the episode.  As you get ready to listen to the episode today, I encourage you to have some experiences in mind. Try and think of a time when you had a great experience with a company, where things were seamless and streamlined or it felt easy. And another where you were part-way through buying and then stopped or when you changed your mind on a project or whatever else. Try and think through what happened along the way and keep that in mind as you consider the idea of partitioning. Where were the unintended partitions and where did the lack of them make a difference?  Of course, look to your own experiences in your company as well. If you have a hard time closing deals or lose people partway through an application form keep that in mind too. It can all tie back to partitions. So let's dive in and learn how you can use partitions in your business to create a seamless experience for your customers.  Show Notes: [00:37] Today's episode is all about partitioning. I love partitioning! It is such an under-discussed concept. [02:39] Partitioning has shown us that when you put tiny barriers into place it causes a consumer to consider their options and be presented with a new decision point. This can be good or bad on both sides depending on the situation.  [04:33] Melina shares a study with bottomless soup bowls.  [06:34] Another study found that adding some sort of measurement reminder can help reduce consumption even if the cups are large. [08:45] One study found that once something became common it no longer acted as a partitioning mechanism.  [10:21] It isn't just effort that matters but drawing the attention of the conscious brain really matters too.  [12:56] It is so easy to be tricked by our brains.  [15:07] Those with a high aversion to gambling were significantly impacted by the partitions.   [16:24] Partitioning money has also been found to help people save more and spend less.  [17:26] Essential with shopping…once you start the process of spending you are more likely to spend again until you hit a partition.  [19:07] Any cognitive intervention (something that makes the user stop and think) can trigger partitioning. This can be done using sounds, rhetorical questions, targets, or progress markers.  [21:37] It doesn't have to feel bad or negative for the consumer.  [23:41] The cashier in an airport store bringing up the price of the almonds and forcing us to rethink our decision multiple times caused anticipated regret and lowered the total amount spent significantly.  [25:18] It is easy to talk people out of a sale, make them feel bad about a purchase, or start to regret it even when you are trying to be helpful.  [26:07] Setting up targets or progress markers, on the other hand, can be great partitions for a business to set up to keep on the radar of their current, past or potential customers.  [27:21] Removing partitions and obstacles can be great for businesses and customers alike.   [29:29] Partitions in the selling process are a recipe for getting ghosted. Always schedule circle-back meetings in the moment.  [32:03] Make it easy for people to do business with you. Remove unnecessary partitions in the process and everyone will be happier. [32:13] Melina's closing thoughts [32:42] The concept of partitioning can help you to look for opportunities to make it easier to work with you, especially up front. Partitions are particularly dangerous early on and in the selling process.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer Friction, by Roger Dooley Sludge, by Cass Sunstein The Experience Maker, by Dan Gingiss The Selling Staircase, by Nikki Rausch Top Recommended Next Episode: Sludge: What It Is and How to Reduce It (ep 179) Already Heard That One? Try These:  Friction - What It Is And How To Reduce It, with Roger Dooley (ep 72) How to Make it Easy to Do Business With You With Nikki Rausch (ep 96) What Your Customer Wants and Can't Tell You: All About Melina's First Book (ep 147) How To Set Up Your Own Experiments (ep 63) Surprise and Delight (ep 60) Pain of Paying (ep 240) Peak-End Rule (ep 97) How to Create Remarkable Experiences with Dan Gingiss (ep 85) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  Nikki's Website - Your Sales Maven

Hey Group Practice Listeners! Do you hesitate before expressing your opinions or do you speak without thinking first? When communicating in a professional environment, we must be formal to avoid unnecessary topics or misunderstandings.     We have Melina Palmer, an Applied Behavioral Economics Teacher, who authored “What Your Customer Wants and Can't Tell You.” With her expertise in behavioral economics, she will share tips and strategies to understand and communicate better with everyone!     Episode Highlights:     Why do we act apart from our real intent?  How do people agreeing to the Save More Tomorrow plan get more incredible benefits?  What could an email of "Let's talk." bring the recipient?  When could improvements arise when the brain is compartmentalized?  How can behavioral economics be useful in becoming a better leader?     To connect with Melina: Go to her website, https://www.thebrainybusiness.com/    Follow her on Twitter and Instagram, https://twitter.com/thebrainybiz & https://www.instagram.com/thebrainybiz/  Subscribe to her YouTube, https://www.youtube.com/c/thebrainybusiness  Check out her Facebook, https://www.facebook.com/thebrainybiz/  This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.     Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

What Your Customer Wants and Can't Tell You by Melina Palmer, Author [Behavioral Economics]Melina talks about:·       The old adage “Perception Is Reality”·       How to shift your business to be customer-obsessed·       What drives buying behavior·       How to leverage the power of questionsABOUT NICK GLIMSDAHLSubscribe to my bi-monthly newsletterFind Press 1 For Nick on YouTubeFind me on TwitterFind me on LinkedInLISTENER SUPPORTPurchase Nick's books: Reasons NOT to Focus on Employee Experience: A Comprehensive GuideApparel: https://www.teepublic.com/user/press-1-for-nick Support this show through Buy Me A CoffeeBOOK RECOMMENDATIONS:Learn about all the guests' book recommendations here: https://press1fornick.com/books/ BROUGHT TO YOU BY:VDS: They are a client-first consulting firm focused on strategy, business outcomes, and technology. They provide holistic consulting services to optimize your customer contact center, inspiring and designing transformational change to modernize and prepare your business for the future. Learn more: https://www.govds.com/ This podcast is under the umbrella of CX of M Radio: https://cxofm.org/Podcast-Shows/ SPONSORING OPPORTUNITIES:Interested in partnering with the Press 1 For Nick podcast? Click here: https://press1fornick.com/lets-talk/ 

Today's episode is all about the pain of paying. This episode originally aired as number 59 in August of 2019. It was formed from a paper I had found and researched before I started doing interviews on the show. I had never met or really considered connecting with the author of the main paper I reference in the episode, Ofer Zellermayer (this paper was his doctoral dissertation). In addition to having an episode on this, I included a full chapter on the pain of paying in my first book, What Your Customer Wants and Can't Tell You which came out in May 2021.  Well, funny enough, in October of that same year, he reached out to me! He said that he had gone to search something related to his paper and found the podcast episode so he dropped everything to listen! He approved of it (phew!) and reached out to connect, which is such an awesome thing. I'm always amazed at the power of the podcast and all the relationships and connections that have come from it over the years. Remember what I said last week in episode 238 about reciprocity? Business is a long game, give freely and you will be amazed at how great things can be.  Anyway, you may be wondering why I chose this episode for today's refresh. For one, with the holidays upon us and just finishing up Black Friday, Small Business Saturday, and Cyber Monday here in the states, it felt like a great time to talk about the pain of paying. Buying things can feel like physical pain, and it is important to know that, but not go too over the top to compensate for it. Deals and discounts abound this time of year, and people buy differently when they are shopping for gifts. It is all interesting stuff to keep in mind as you consider your own buying this holiday, and any sales you may be running for your business. It felt like the perfect time to refresh this episode for you. Show Notes: [00:38] Today's episode is all about the pain of paying. [02:57] Buying things can feel like physical pain, and it is important to know that, but not go too over the top to compensate for it. Deals and discounts abound this time of year, and people buy differently when they are shopping for gifts. [04:21] Buying things isn't all fun and games and the process of paying for things can actually cause pain for many people.  [06:14] Everyone experiences some level of pain of payment in various scenarios and those conditions tend to be pretty universal. Context is incredibly important when it comes to the pain felt making a payment.  [07:09] Melina shares the reasons and continuums that impact the pain felt in a payment. [09:30] The brain loves a story. This story can impact the pain felt by paying. [12:28] Price is not about price. Everything that comes before the price matters much more than the price itself.  [13:57] When the pain of paying is too much, people who don't buy things that they need or want because it is too difficult to give up money are called tightwads. Those who spend too much too easily and do not feel an appropriate amount of pain before or during the spending process are called spendthrifts.  [16:58] Being a tightwad is different than being frugal. Frugality is rooted in joy when saying money.  [19:16] 60% of people are unconflicted, 25% are tightwads, and 15% are spendthrifts. Your biggest challenge is overcoming the 25% who are tightwads.  [20:08] Tightwads are most sensitive to framing adjustments so that is where you can make a difference. Tightwads can have a difficult time paying for things with cash so make it easy to pay with a credit card. [22:17] The pain was found to have less of an impact when buying what is considered virtue products than vice products. It is important to know what category your product falls into when you are looking at how to frame your message.  [23:46] One of the big issues for spendthrifts is that they do not account for or intuitively understand the opportunity cost at the moment when they are getting ready to buy or they want to buy things.  [25:52] Everyone will feel some sort of pain when paying. It is your job as the person selling to figure out what the buyer needs, what would benefit them the most, and then present it to them in a way that will have the last pain felt so they can actually enjoy spending the money.  [27:39] For your business, think about how people interpret what they are getting. If it was not their choice are there some other areas where you can help them feel like they did make a choice so there is less pain felt in the experience?   [31:26] When the pain of paying isn't felt as much it doesn't impact the experience as negatively.  [33:51] In some ways, you are making the loss and pain much more prevalent, reducing usage by consumers, and impacting the overall experience.   [35:29] The payment that is triggering pain doesn't have to be from money, it can be time as well.  [37:36] When consumption and payment are coupled together, you experience pain as you consume, it has a certain level of pain and joy associated. When you uncouple them, you experience each item separately which can increase each unless you implement them properly.  [40:03] The pain of payment can be removed when the payment is taken care of before consumption.  [42:12] “Strong buffering and hence reduced the pain of paying occurs when the consumer can directly connect the costs in terms of money with the benefits in terms of product or service. The ability to associate costs and benefits is just as important in physical pain.” [44:26] The pain of paying was potentially completely eliminated when it was given as a gift. [45:06] Melina's closing thoughts [45:26] The fact that we think about gifts differently than something we need — and that we want to spend LESS on the things we functionally NEED is so interesting. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and Support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer How Customers Think, by Gerald Zaltman Alchemy, by Rory Sutherland Engaged, by Amy Bucher Marketing to Mindstrates, by Will Leach Top Recommended Next Episode: Get Your D.O.S.E. of Brain Chemicals (episode 123) Already Heard That One? Try These:  Framing (episode 16) Priming (episode 18) What is Value? (episode 234) Mental Accounting: How To Make Your Money Math Work For You (episode 56) Partitioning How to Raise Your Prices (episode 77) The Truth About Pricing (episode 5) Focusing Illusion (episode 89) Decision Fatigue (episode 132) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  https://www.researchgate.net/publication/280711796_The_Pain_of_Paying The Red and the Black: Mental Accounting of Savings and Debt The Pain of Paying Tightwads and Spendthrifts: An Interdisciplinary Review

You have to make so many decisions every day as an educator or educational leader. It's overwhelming and enough to drive you to burnout. Add to that the change that happens seemingly every minute in the classroom or the office.   We can't train on how to manage our brains around the constant disruptions and distractions. But you can change how you plan for and react to them.   This week on the podcast, I'm talking with Melina Palmer, a behavioral economist who consults with businesses all over the globe. She's the author of the new book, What Your Customer Wants and Can't Tell you. We explore what your teachers (and students) need and want and why it's so hard to put that into words. We also talk about why the Golden Rule is antiquated and why we need to focus on the Platinum Rule instead.   Melina is the real deal when it comes to behavioral change and there are so many takeaways from this conversation. But don't make the mistake of trying to change everything at once. Instead, tune into some micro-shifts to make long-lasting changes. About Melina Palmer: Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 160 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and runs the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and is the author of two books, What Your Customer Wants and Can't Tell You and What Your Employees Need and Can't Tell You. Jump in the Conversation: [2:15] - What teachers need but we're not attending to [2:40] - Psychology of decision-making [3:03] - Change isn't what we think it is [4:30] - Every conversation is some sort of change [8:02] - Golden Rule and Platinum Rule  [11:35] - How can we unpack what teachers need or want [13:33] - Asking questions shows they're interested and want to know more [14:15] - Where can you help take repetitive items and take them off teachers' plates [15:52] - Teachers don't go into the profession for the pay [17:46] - Change is all about you and has nothing to do with you [19:20] - There's value in being empowered to change the way you respond to anything [22:38] - What we need to tune into to implement change [23:28] - It's not possible to remove bias from your life [25:36] - Micro-shift moments: Get a win and keep on going [28:36] - Pandemic was spotlight on institution of education [30:15] - The way change is presented makes all the difference [34:48] - Turbo Time [36:55] - What people need to know about interpersonal communication [39:37] - Making something more bite sized can you look more knowledgeable [40:58] - Melina's Magic Wand [42:41] - Maureen's takeaways Links & Resources Episode 56: Getting to the Brainy Business of School Change Melina's Books The Brainy Business Podcast Solving Modern Problems with a Stone-Age Brain: Human Evolution and the Seven Fundamental Motives by Dr. Douglas T. Kenrick and David E. Lundberg A More Beautiful Question: The Power of Inquiry to Spark Breakthrough Ideas by Warren Berger Beautiful Questions in the Classroom: Transforming Classrooms into Cultures of Curiosity and Inquiry by Warren Berger Email Maureen Maureen's TEDx: Changing My Mind to Change Our Schools The Education Evolution Facebook: Follow Education Evolution Twitter: Follow Education Evolution LinkedIn: Follow Education Evolution EdActive Collective Maureen's book: Creating Micro-Schools for Colorful Mismatched Kids Micro-school feature on Good Morning America The Micro-School Coalition Facebook: The Micro-School Coalition LEADPrep

There is a science to being a great influencer. In this week's episode, Melina Palmer will share this science with you. She'll also help you understand what customer wants you can positively influence to ultimately win more business. Melina Palmer is a keynote speaker helping brands leverage the power of behavioural economics. She is CEO of The Brainy Business, which provides behavioural economics training and consulting to businesses of all sizes from around the world, and writes the Behavioural Economics & Business column for Inc Magazine. Her first book, What Your Customer Wants and Can't Tell You, was a finalist in two categories of the International Book Awards. Today Melina is going to share her expertise with you so you can understand why people think and act the way they do. You will be able to use this knowledge to communicate better and positively market yourself to your customers. Want to know more about how to influence people and understand what customer wants and needs you really need to cater for? Listen to today's episode to find out.   You will learn: How you can influence people subconsciously Why it matters how you present information Why being thoughtful with marketing works

Change is hard, even when it's a change that makes our lives easier. Today, I speak with Melina Palmer, CEO of The Brainy Business, expert in behavioral economics for organizations around the world, and the author of What Your Employees Need and Can't Tell You. We give you a refresher on behavioral economics and how our human brains work - especially the conscious and unconscious parts of our brains.  We discuss why change is hard, even when it's a good change, and how leaders get change massively wrong. Melina will share her framework called "It's Not About the Cookie" and how it applies to any employee initiative. She also shares her top tip for those who want to have more influence at work. Key Takeaways:Change doesn't need to be hard, you just need to understand what motivates the people you are trying to change - education alone will never be enough. Create a culture of feedback and input, solicit that feedback, then actually implement those ideas. Be transparent about your change management. The more transparent you are along the way, the more people can trust the process. "Every conversation and initiative is a change conversation or initiative - you are either in the midst of change, in the wake of change that has already happened, or building up to the next change." —  Melina Palmer About Melina Palmer, CEO and author of What Your Employees Need and Can't Tell YouMelina Palmer is the founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her master's in behavioral economics from The Chicago School of Professional Psychology. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab. Her first book, What Your Customer Wants and Can't Tell You, was published in May 2021 and was a finalist in two categories of the International Book Awards. Her second book, What Your Employees Need and Can't Tell You, is out as of October 2022.Connect with Melina PalmerThe Brainy Business Website: https://www.thebrainybusiness.comTwitter: https://twitter.com/thebrainybizLinkedIn: https://www.linkedin.com/in/melinapalmer/Facebook: https://facebook.com/thebrainybizInstagram: https://instagram.com/thebrainybizReferences MentionedMelina Palmer on The Empathy Edge podcast, Why Your Customers Can't Tell You What They WantSpecial link to get your free chapter of both of Melina's books: www.thebrainybusiness.com/empathyedge  Don't forget to download your free guide! Discover The 5 Business Benefits of Empathy: http://red-slice.com/business-benefits-empathy  Connect with Maria: Get the podcast and book: TheEmpathyEdge.comLearn more about Maria's work: Red-Slice.comHire Maria to speak at your next event: Red-Slice.com/Speaker-Maria-RossTake my LinkedIn Learning Course! Leading with EmpathyLinkedIn: Maria RossInstagram: @redslicemariaTwitter: @redsliceFacebook: Red Slice

Change is hard, even when it's a change that makes our lives easier. Today, I speak with Melina Palmer, CEO of The Brainy Business, expert in behavioral economics for organizations around the world, and the author of What Your Employees Need and Can't Tell You. We give you a refresher on behavioral economics and how our human brains work - especially the conscious and unconscious parts of our brains.  We discuss why change is hard, even when it's a good change, and how leaders get change massively wrong. Melina will share her framework called "It's Not About the Cookie" and how it applies to any employee initiative. She also shares her top tip for those who want to have more influence at work. Key Takeaways:Change doesn't need to be hard, you just need to understand what motivates the people you are trying to change - education alone will never be enough. Create a culture of feedback and input, solicit that feedback, then actually implement those ideas. Be transparent about your change management. The more transparent you are along the way, the more people can trust the process. "Every conversation and initiative is a change conversation or initiative - you are either in the midst of change, in the wake of change that has already happened, or building up to the next change." —  Melina Palmer About Melina Palmer, CEO and author of What Your Employees Need and Can't Tell YouMelina Palmer is the founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her master's in behavioral economics from The Chicago School of Professional Psychology. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab. Her first book, What Your Customer Wants and Can't Tell You, was published in May 2021 and was a finalist in two categories of the International Book Awards. Her second book, What Your Employees Need and Can't Tell You, is out as of October 2022.Connect with Melina PalmerThe Brainy Business Website: https://www.thebrainybusiness.comTwitter: https://twitter.com/thebrainybizLinkedIn: https://www.linkedin.com/in/melinapalmer/Facebook: https://facebook.com/thebrainybizInstagram: https://instagram.com/thebrainybizReferences MentionedMelina Palmer on The Empathy Edge podcast, Why Your Customers Can't Tell You What They WantSpecial link to get your free chapter of both of Melina's books: www.thebrainybusiness.com/empathyedge  Don't forget to download your free guide! Discover The 5 Business Benefits of Empathy: http://red-slice.com/business-benefits-empathy  Connect with Maria: Get the podcast and book: TheEmpathyEdge.comLearn more about Maria's work: Red-Slice.comHire Maria to speak at your next event: Red-Slice.com/Speaker-Maria-RossTake my LinkedIn Learning Course! Leading with EmpathyLinkedIn: Maria RossInstagram: @redslicemariaTwitter: @redsliceFacebook: Red Slice

My special guest is Melina Palmer, CEO of The Brainy Business and the host of the Brainy Business Podcast. I am an avid listener of Melina's Brainy Business podcast. As a BE enthusiast and a podcaster, I find her guests and the way she organizes links and notes for each episode, very inspirational. I have read her first book “What Your Customer Wants and Can't Tell You” then I found out she's about to publish her second book “What Your Employee Needs and Can't Tell You”. I thought it's a great opportunity to invite her to my show. So we recorded this episode last week and the book is due (tomorrow) on 11th of October. We talked about how Melina engaged with Behavioral Economics (BE), the reasons why BE is yet to be applied by majority of large corporations, as well as several useful tips from her books. Melina's books are a practical guide on achieving customer satisfaction and organizational change through applying behavioral economics. Her latest book which will hit the shelves by tomorrow covers: An introduction to how the brain really works when faced with change Insights into key biases and concepts the subconscious brain uses to make decisions “Apply it” sections with tips on how to start using what you have learned—immediately I strongly recommend you this book if you are responsible for managing change in an organization. Melina kindly offered for DYF audience free first chapters from one or both of her books, to find out if it's a fit for you. https://thebrainybusiness.com/dyf/ (02:20) How Melina got into BE (Behavioral Economics) (05:50) Transition from traditional to behavioral economics (11:30) Why corporates are slow to apply BE (15:00) Role of culture (18:17) Working with clients (21:32) Sharing her knowledge (24:09) Are we less creative working on a deadline (28:33) Three weeks? We'll do it in two (31:43) Cost of being vague (34:52) Melina's formula for creating value

Today is a very exciting day, as it is the last episode before I'm officially a multi-book author, because my second book, What Your Employees Need and Can't Tell You will officially be out and hitting mailboxes on Tuesday, October 11! There is something else very, very exciting kicking off on Tuesday as well, so be sure to stay to the end to hear all about that…  In this episode, we are going to do a deep dive into the book. I talk about what you can expect to find within it, why I wrote it, who it is for, and (because this is quite possibly one of the things I get asked about the most these days) some fun insights into the writing process and my tips for you in creating your own content (whether it is a book or something else). Show Notes: [00:39] Today is a very exciting day, as it is the last episode before I'm officially a multi-book author, because my second book, What Your Employees Need and Can't Tell You will officially be out and hitting mailboxes on Tuesday, October 11! [02:34] This book has been in the works for a long time, really since episode seven came out of the podcast way back on August 3, 2018. My framework for change has grown and adapted a bit over the years, but even through: creating a 10-week course I teach virtually via the Human Behavior Lab at Texas A&M University, countless speaking engagements and corporate training, and the full process of writing this book…it has really kept its bones. [04:29] What are my secrets for book writing? The first secret is that I'm naturally a good writer and I've spent a lot of time writing and editing all sorts of content from 3-word ads to 70,000 word books and everything in between. I also dedicate the time I need to be able to write. [06:14] My writing is made possible by a very supportive family, especially my husband Aaron. I have dedicated both of my books to him because truly, The Brainy Business and all its content would not be possible without him. [07:38] It isn't all writing every moment of every day, the brain needs breaks. I was able to go on a few jogs by the ocean which was nice and I also had some mindless crafty entertainment. [08:47] Taking the time to let your mind exist and make connections is so so so important when working on content. Building those contemplative moments into your day is really useful. [11:30] You may have heard this one already, but you need to just get stuff out of your head and onto the paper (virtual or otherwise). My process starts with some sort of an outline. I usually do this with software that allows for virtual cards or sticky notes that I can move around. [13:07] Once you have your initial outline I recommend starting with whatever feels the easiest. In my experience, this is NOT the beginning. Whatever that easiest thing is, start there and write anything you can to get it out of your brain. [15:41] I wrote the first book in three months. For book two, I was able to start writing in December of 2021 and the full manuscript was due at the first of February; so only two months this time. [17:27] My process allows for strict priorities and focus in short bursts. This lets me give each thing my all until it is done and then move on to the next. [18:09] Done is better than perfect. Sometimes you have to let things speak to you in the moment and go with where you end up even if it is different than you intended.  [21:34] I wrote the book because I could see that this concept of change and understanding biased brains and how they impact our workplace was on the uptick in businesses. I could see that this was going to be critical for businesses moving forward and if I wanted to be on the front end of that wave. [23:39] The book is for people who want to have more influence at work and to make it so change is easier for themselves and everyone around them. [25:01] This book is also set up to help teams of people work together within an organization to get a shared common language and be able to grow together to be better managers that help move a company forward. [26:01] According to Gallup, four out of five current managers do not have the talent required to excel in the job in a way that will help the company and its employees to thrive. [28:16] What Your Employees Need and Can't Tell You is here to help every manager—whether they have the natural talent for the role or not—to be excellent at leading their teams through change. If you want to put in the work to be a great manager and are willing to learn and adapt based on the science I present to you in this book, I truly believe you can achieve that goal. [30:11] This book is also segmented into three parts. [31:08] Part 1 is called Big Plans and Micro-Moments and it has four chapters within it. This part is really about understanding our brains, understanding how change works within the brain, understanding what it means to be a great manager, and how to think about change overall.  [31:36] Part 2 is called Biases and Concepts.  [33:18] We are all biased. We are never going to eliminate that from our lives or organizations. Instead of looking to eliminate bias, companies need to look to understand and leverage it.  [36:15] A chapter in this section has one of my favorite openings of the entire book with details of the Challenger disaster and what we can all learn from it.  [37:54] The last section of Part 2 is called Us vs. Them and it digs in on all the ways our brains are biased to look at people who are different from us.  [38:37] The final part of the book is called Change Framework. This last part of the book brings it all together.  [41:30] You can read the first chapter of the book now for free to see if it is a fit for you.  [42:52] BIG ANNOUNCEMENT: We are going to be having episodes coming out twice a week starting this Tuesday, October 11th!  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer The Voltage Effect, by John List How Minds Change, by David McRaney   How to Change, by Katy Milkman   Top Recommended Next Episode: Temptation Bundling (episode 136) Already Heard That One? Try These:  Bikeshedding (episode 99) What Your Customer Wants and Can't Tell You: All About Melina's First Book (episode 147) What is Behavioral Baking (episode 155) How to Organize Your Brain with Behavioral Economics (episode 83) The Voltage Effect with John List (episode 190) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  20 Podcasting Insights and Tips After 200 Episodes of The Brainy Business

Whether you're leading a team of employees, freelancers, or even working with vendor partners understanding how the brain reacts to change will help you communicate better with everyone you interact with. This week's episode 71 of Female Founders Breaking Boundaries is about what your employee needs and can't tell you!Have you ever felt like you were WAY too busy, stressed out, burnt out, and overwhelmed, so you were advised to delegate some tasks to take things off your plate and free up some time? Except, maybe it didn't work. If getting out of the day-to-day in your business was as simple as hiring more people, then why are you still feeling overwhelmed and burned out? You are not alone! Sometimes, simply delegating tasks doesn't work and instead shifts your workload from “doing” to “managing.”I invite you to use the exercise that our own C-Suite clients use to take the first step in turning your team into a well-oiled, self-managed machine- and get you out of the delegation catch-22. Download the exercise here to get started!In this episode of Female Founders Breaking Boundaries, my guest Melina Palmer shares how every interaction we have falls in a line of change and actionable steps you can take right now to change the way you approach and react to change in order to better communicate with your team. Some of the things Melina and I cover in this episode are:Help people to be more passionate about the work they are doingQuickly highlighting her first book: What Your Customer Wants and Can't Tell YouBreaking down the “it's not about the cookie framework” as it applies to pricing and change management. What is quiet quitting and how you can look at your team culture and retain employees. How to approach tough conversations with your employees. When tackling these conversations always remember that change is all about you but it has nothing to do with you. If you enjoyed this episode, take a screenshot of the episode to share and tag me!  And don't forget to follow, rate, and review the podcast and tell me your key takeaways!Learn more about Female Founders Breaking Boundaries and Casey at https://she-suiteboutique.com/podcast/ CONNECT WITH MELINA PALMER:WebsiteThe Brainy Business PodcastBooksGet Your Free Chapters HereInstagramLinkedInCONNECT WITH CASEY GROMER:LinkedInCompany PersonaWork with Casey Gromer! Book an Advisory Call LINKS MENTIONED IN THIS EPISODE:Negotiate Anything PodcastHow to Have Difficult Conversations About Race by Kwame Christian Fierce Conversations by Susan Scott

Today, we get to talk about a very fun concept known as the cobra effect or the cobra problem. It is something I included in my upcoming book, What Your Employees Need and Can't Tell You, and I was very surprised at some of the early readers who work in the field and wrote comments like “WOW!” or called out this concept by name in their endorsement blurbs for the book. As I have said on the show before, there are hundreds of concepts, biases and heuristics in behavioral economics and behavioral science that are impacting our actions every day – it is near impossible to keep up with all of them, and sometimes you find a little golden nugget like this one which can be a new discovery for people even when they are experts in the field. I'm definitely not saying that I am the first person to talk about it or that no one knows about it. Rather, when I realized that it might be a little more obscure than I thought, it became a clear contender for its own dedicated episode sooner than later – plus it is awesome and the story of how it got that name is really interesting. Wanna hear that story and how you can use the cobra effect in business? Listen in… Show Notes: [00:41] Today, we get to talk about a very fun concept known as the cobra effect or the cobra problem. It is something I included in my upcoming book, What Your Employees Need and Can't Tell You. [03:18] It all started way back when the British ruled India and the city of Delhi was infested with cobras. In order to help with the problem, the British set up a bounty and would pay anyone who brought in a cobra skin to help clean up the streets and keep people safe…but things didn't work out quite as intended. [04:45] And while the effect got its namesake from this cobra incident, it is by no means an isolated problem. Apparently, there was a very similar problem in Hanoi in 1902 when the French put in their sewer system, which essentially became a rat superhighway. [06:21] Just like the cobras, when the French got wise of the scheme, they did away with the bounty and everyone let their rats go free creating an even worse (quickly multiplying) problem. [07:49] Our next example comes from Bogota, Colombia, which tried to cut down on pollution and congestion on the roads in 2008 by limiting how often you could drive. [09:42] In my research I also found a story where the government of Quebec gave considerably more money to mental health programs than to orphanages from 1940-1960. So, to try and help those orphaned children who otherwise would have had nowhere to go, the Catholic Church of Quebec reportedly misdiagnosed many children with mental illnesses to get more funding. [11:10] The main lesson from the cobra effect is that “no loophole goes unexploited.” Incentives are great and they can absolutely work, but you need to be really thoughtful about what someone might do to benefit from whatever you are proposing.  [12:16] It is always so important to look beyond the surface solution and consider the problem you are really solving before you move forward with a course of action. When you think about the problem, it is important to get out of your own perspective and understand what someone really needs and what is practical for them. [13:58] You need to consider the problem you are trying to solve AND how it lines up with the real behavior of other people, as well as what they have control over and what you have control over in the new world you are proposing. Nudges and other tactics can only get you so far. You also have to really get out of your own way and think about how someone might see this differently than you. [15:41] There are lots of valid and useful incentives and not everyone is going to take advantage of the loophole or even see it…but if the loophole is big enough and there are enough people willing to jump through it that can be a time where your solution makes the problem worse. [17:42] Every decision has an impact – even the decision to do nothing – and changing one thing can change many things that are related even if you don't think about them (and it isn't always in a positive way). [19:11] It is important to spend some more time thinking about those possible loopholes, and it is important to get into the mindset of the person who would be in the situation. [19:49] The ability to be “in the moment” with someone else, to empathize and imagine we are part of that experience and show “How might we?” is so valuable and such an amazing skill. When you put yourself in that space, you can think differently, and that is really helpful when you are looking for exploitable loopholes. [21:03] Melina shares questions you should ask if you are considering implementing a payout (use your free worksheet to follow along).  [22:19] Even small incentives can cause people to look for loopholes and to find opportunities for their own benefit. [25:38] Rules need to be put in place to adjust for possible loopholes. Maybe there are restrictions that need to go in place, but if there are too many restrictions, take a moment to consider if the plan is a good one or if it is time to go back to the drawing board. [27:54] It is better to be thoughtful about these loopholes and restrictions up front instead of looking back after the fact and regretting the choices you could have made differently once you have the power of hindsight. [29:02] If you haven't already, will you consider pre-ordering a copy of my upcoming book, What Your Employees Need and Can't Tell You? In it, I talk about the cobra effect, and so many other important concepts from behavioral science and how they can be applied to business to help teams work and communicate better together. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Learn and support The Brainy Business: Check out and get your copies of Melina's Books.  Get the Books Mentioned on (or related to) this Episode: Choice Hacking, by Jennifer Clinehens Freakonomics, by Stephen Dubner & Steven Levitt Behavioral Insights, by Michael Hallsworth Drive, by Dan Pink What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Nudging for Good at Walmart with Sarah Wilson (episode 206) Already Heard That One? Try These:  Do Nudges Work? with Michael Hallsworth (episode 218) Counterfactual Thinking  (episode 68) Secrets of Motivation and Incentives, Tim Houlihan Interview (episode 109) Motivation and Incentives at Work with Kurt Nelson (episode 187) Where CX and Behavioral Science Meet, interview with Jennifer Clinehens, author of Choice Hacking (episode 141) The Power of Regret with Daniel Pink (episode 214) The Most Important Step in Applying Behavioral Economics: Understanding the Problem (episode 126) Incentives - The "N" In NUDGES (episode 36) Other Important Links:  Brainy Bites - Melina's LinkedIn Newsletter  The Cobra Effect: No Loophole Goes Unexploited What is the Cobra Effect The Cobra Effect The Most Ironic Examples Of The Cobra Effect Check out What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia

• Your brain knows but may not tell you • “It would be great to say we never fall victim to our brain's little tricks once we know about them” (Total Recorded Time is 18:30) Watch it! Your brain may be about to fool you, cautions Melina Palmer, founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses. “It would be great to say we never fall victim to our brain's little tricks once we know about them,” says Ms. Palmer, a behavioral economist. “Humans make, on average, 35,000 decisions every single day. That's a lot and we can't consciously process all of that information.” So the subconscious handles the heavy load, she says. “It's able to work so much faster.” Understanding the tricks of the brain can help consumers as well as those selling to consumers, she says. Melina Palmer joins us for this un-tricky Bizgnus Interview podcast. Please click here to watch the interview: https://youtu.be/X9Gr6n5uF9A Ms. Palmer, a member of the Global Association of Applied Behavioral Scientists, has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics and Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A and M Human Behavior Lab. Her first book was, “What Your Customer Wants and Can't Tell You,”published in May 2021. Her second book, “What Your Employees Need and Can't Tell You, is scheduled for publication in October 2022. For more information: https://thebrainybusiness.com/ ======================================= ABOUT US Bizgnus reports, writes, edits and publishes business news in online, broadcast and printed publications. We have published unbiased, unfiltered and in-depth interviews with business and other thought leaders since 2005. Opinions are those of our guests. Bizgnus never endorses the viewpoints, products or services of its guests, who are selected based on their knowledge and experience. No one pays to get on our podcasts. And we don't accept advertising (although Google/YouTube sells ads on our videos.) We'd appreciate your financial support through Patreon. If you'd like to help, please click here: https://www.patreon.com/user?u=56957587 Our address is 150 Herons Run, #104, Sarasota, Florida 34232. Call us anytime at 209.470.3400. Our email address is editor@bizgnus.com

Melina Palmer is the Founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes worldwide. She translates the complex concepts of behavioral economics — the study and science of why people buy or not — and provides simple, actionable tips you can apply right away to your own business.  After working in corporate marketing and brand strategy for over a decade and obtaining a bachelor's degree in business administration and marketing, Melina earned a master's degree in behavioral economics. Her podcast, The Brainy Business, has downloads in over 160 countries. She runs the Behavioral Economics and Business column for Inc. Magazine and authored What Your Customer Wants and Can't Tell You and What Your Employees Need and Can't Tell You. In this episode… When you're traveling a rocky road, how can you nudge customers in the right direction to choose your products? Why does the framework of a message lead to purchase or pass? Melina Palmer is a sales conversion expert and a behavioral economics consultant who knows the impact of delivering the right message — and it might not be what you think. The subconscious brain is triggered by anticipation, meaning our brain wants the next best thing. For example, would you choose beef with 10% fat or one that's 90% fat-free? Listen to this engaging episode to find out just how the conscious and unconscious mind shapes the way you think! In this episode of Access To Anyone, Michael Roderick sits down with Melina Palmer, Founder and CEO of The Brainy Business, to discuss the behavioral economics and science behind why people buy products. Melina shares actionable tips to increase sales, why small changes can make a big impact, and applying the scarcity principle to your brand's marketing techniques.

Melina Palmer, author of What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economic Melina Palmer and Bill Ringle discuss What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics for small business leaders. >>> Visit MyQuestforTheBest.com  for complete show notes and more expert advice and inspiring stories to propel your small business growth. My Quest for the Best is a top-rated small business podcast with over 300 episodes of thought-provoking and insightful interviews with today's top thought leaders and business experts. Host Bill Ringle's mission with this show is to provide the strategies, insights, and resources that will unlock the growth potential of your business through these powerful conversations. #pp-podcast-7987 a, .pp-modal-window .modal-7987 a, .pp-modal-window .aux-modal-7987 a, #pp-podcast-7987 .ppjs__more { color: #0033CC; } #pp-podcast-7987:not(.modern) .ppjs__audio .ppjs__button.ppjs__playpause-button button *, #pp-podcast-7987:not(.modern) .ppjs__audio .ppjs__button.ppjs__playpause-button button:hover *, #pp-podcast-7987:not(.modern) .ppjs__audio .ppjs__button.ppjs__playpause-button button:focus *, .pp-modal-window .modal-7987 .ppjs__audio .ppjs__button.ppjs__playpause-button button *, .pp-modal-window .modal-7987 .ppjs__audio .ppjs__button.ppjs__playpause-button button:hover *, .pp-modal-window .modal-7987 .ppjs__audio .ppjs__button.ppjs__playpause-button button:focus *, .pp-modal-window .aux-modal-7987 .pod-entry__play *, .pp-modal-window .aux-modal-7987 .pod-entry__play:hover * { color: #0033CC !important; } #pp-podcast-7987.postview .episode-list__load-more, .pp-modal-window .aux-modal-7987 .episode-list__load-more, #pp-podcast-7987:not(.modern) .ppjs__time-handle-content, .modal-7987 .ppjs__time-handle-content { border-color: #0033CC !important; } #pp-podcast-7987:not(.modern) .ppjs__audio-time-rail, #pp-podcast-7987.lv3 .pod-entry__play, #pp-podcast-7987.lv4 .pod-entry__play, #pp-podcast-7987.gv2 .pod-entry__play, #pp-podcast-7987.modern.wide-player .ppjs__audio .ppjs__button.ppjs__playpause-button button, #pp-podcast-7987.modern.wide-player .ppjs__audio .ppjs__button.ppjs__playpause-button button:hover, #pp-podcast-7987.modern.wide-player .ppjs__audio .ppjs__button.ppjs__playpause-button button:focus, .pp-modal-window .modal-7987 button.episode-list__load-more, .pp-modal-window .modal-7987 .ppjs__audio-time-rail, .pp-modal-window .modal-7987 button.pp-modal-close { background-color: #0033CC !important; } #pp-podcast-7987 .hasCover .ppjs__audio .ppjs__button.ppjs__playpause-button button { background-color: rgba(0, 0, 0, 0.5) !important; } .pp-modal-window .modal-7987 button.episode-list__load-more:hover, .pp-modal-window .modal-7987 button.episode-list__load-more:focus, .pp-modal-window .aux-modal-7987 button.episode-list__load-more:hover, .pp-modal-window .aux-modal-7987 button.episode-list__load-more:focus { background-color: rgba( 0,51,204, 0.7 ) !important; } #pp-podcast-7987 .ppjs__button.toggled-on, .pp-modal-window .modal-7987 .ppjs__button.toggled-on, #pp-podcast-7987.playerview .pod-entry.activeEpisode, .pp-modal-window .modal-7987.playerview .pod-entry.activeEpisode { background-color: rgba( 0,51,204, 0.1 ); } #pp-podcast-7987.postview .episode-list__load-more { background-color: transparent !important; } #pp-podcast-7987.modern:not(.wide-player) .ppjs__audio .ppjs__button.ppjs__playpause-button button *, #pp-podcast-7987.modern:not(.wide-player) .ppjs__audio .ppjs__button.ppjs__playpause-button button:hover *, #pp-podcast-7987.modern:not(.wide-player) .ppjs__audio .ppjs__button.ppjs__playpause-button button:focus * { color: #0033CC !important; } #pp-podcast-7987.modern:not(.wide-player) .ppjs__time-handle-content { border-color: #0033CC !important; } #pp-podcast-7987.modern:not(.wide-player) .ppjs__audio-time-rail { background-color: #0033CC !

In Clear Focus: Melina Palmer is a Behavioral Economics consultant whose podcast, The Brainy Business: Understanding the Psychology of Why People Buy, is listened to in over 160 countries. We discuss Melina's book, What Your Customer Wants and Can't Tell You, and how advertising professionals can benefit from understanding framing, priming, and herding. Melina provides practical applications of Behavioral Economics that maximize the impact of advertising and marketing.

How does the brain work ? The analogy of Elephant & Rider What are nudges, and why the default option works ? How does partitioning work & how does putting in blocks create a new decision ? Why marketers should evaluate the hot, cold empathy gap in the way that consumers make decisions? Why marketers should be thoughtful about a behaviour change challenge ? How to apply the concept of framing to design messages differently ? How to apply the concept of anchoring to marketing - pricing, promotions etc ? Melina answers the above questions as she advises marketers & businessmen to be thoughtful .Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business, has downloads in over 160 countries. Melina worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. She is the author of a book "“What Your Customer Wants and Can't Tell You". Visit Melina's Website at https://thebrainybusiness.com/ Connect with Melina on Linkedin https://www.linkedin.com/in/melinapalmer/ Jagged with Jasravee is facilitated by Jasravee Kaur Chandra, Director- Brand Building, Research & Innovation at Master Sun, Consulting Brand of Adiva L Pvt. Ltd. Jasravee has over 20 years experience as a Strategic Brand Builder,Communications Leader and Entrepreneur. Please visit Jasravee at https://jasravee.com/ Connect with Jasravee on Linkedin at https://www.linkedin.com/in/jasravee/ Email Jasravee at jasravee@theadiva.com The Podcast Index 0:00 Preview & Introduction to Melina 3:30 How does the Brain Work - Elephant Rider Analogy 7:04 The Concept of Nudges; Why Default Works 11:11 The Brain as a Smartphone 14:51 The Concept of Partitioning 17:23 Hot, Cold Empathy Gap in Decision Making 20:27 Marketers Should Be Thoughtful About Behaviour Change 23:55 Applying Behaviour Science esp. to Market Research 32:43 Concept of Framing & Designing Messages Differently 36:25 Concept of Anchoring & Relativity applied to Pricing, Promotions 40:32 Brand is a Memory & Story Telling 43:30 Rapid Fire - Personally Speaking with Melina 48:45 Connecting with Melina Follow Jagged with Jasravee on Social Media Campsite One Link : https://campsite.bio/jaggedwithjasravee Facebook Page : https://www.facebook.com/jaggedwithjasravee Instagram : https://www.instagram.com/jagggedwithjasravee/ Podcast Page : https://anchor.fm/jagged-with-jasravee Youtube Page : https://www.youtube.com/c/jaggedwithjasravee Jagged with Jasravee, is an initiative of Master Sun, the Consulting Brand of Adiva Lifestyle Pvt Ltd. Website : https://jasravee.com/ #neuropsychology #whypeoplebuy #consumerscience

Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, published in May 2021.

In Episode 2 of Looking Outside we're joined by the super smart behavioral economist, author, speaker and podcast host Melina Palmer, Founder & CEO of The Brainy Business. Today we're looking outside Brain Science. Together Jo and Melina discuss how better understanding the scientific workings of the human brain can unlock not just a business competitive advantage but help you better understand yourself. They explore how our human brain has a bias for predictability, for what's comfortable, of following the success path of others (herding) and the skills we should train within ourselves to push beyond the familiar or the socially predictive. We're still working the human brain out but already there is a lot we can leverage from what brain science has told us. But with 35,000 decisions made every day an essential ingredient to brain science is art and creativity (so you can throw darts where your competitors are throwing noodles). -- To look beyond the familiar, Melina recommends you speak with someone you know well, and who knows you well. Someone who can catch when you're falling into predictable patterns and can offer an alternate route. -- Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, https://open.spotify.com/show/09kKyf19X7ISJmyCm60Uj5 (The Brainy Business): Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina holds a bachelor's degree in business administration: marketing and master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, published in May 2021. Find out more about The Brainy Business at https://www.thebrainybusiness.com/ (https://www.thebrainybusiness.com) or on https://www.facebook.com/thebrainybiz/ (Facebook), https://www.instagram.com/thebrainybiz/ (Instagram), https://twitter.com/thebrainybiz (Twitter )and https://www.youtube.com/c/thebrainybusiness (YouTube). Grab a copy of Melina's book https://mango.bz/books/what-your-customer-wants-and-cant-tell-you-by-melina-palmer-1612-b?utm_source=other&utm_medium=other&utm_campaign=Mango+year+end+20%25+off (What your customer wants and can't tell you). -- Welcome to Looking Outside, a new podcast dedicated to exploring fresh perspectives of familiar business topics. With each episode we'll hear from some of the most influential and original thinkers. The show is hosted by Joanna Lepore. Jo has been marketing and innovating inside of the consumer goods space for over a decade. Previously a marketer in Australia she recently moved to the United States to head up strategic foresight for Mars Wrigley North America. Jo follows her curiosity, seeking out fresh perspectives by looking outside her market, industry and field of knowledge. Starting 2022 she's taking some of her friends alongside some of the most inspiring industry leaders to explore more of this in the Looking Outside podcast. Find out more about Jo & Looking Outside at http://www.looking-outside.com/ (www.looking-outside.com). Connect https://www.linkedin.com/in/joannalepore/ (with Jo) and join the https://www.linkedin.com/company/looking-outside (Looking Outside community) on LinkedIn. Check out Jo's foresight podcast https://futureimagined.captivate.fm/ (Future Imagined) (produced for Mars Wrigley). -- Looking Outside was created by Joanna Lepore. All views are that of the host and guests and don't necessarily reflect those of their...

We, as humans, don't buy for the reasons we think we do, and there are ways to communicate our message so that we tap into those mental models and frameworks - not to manipulate, but to make your case in a way our brains can understand and connect with.  My guest today, Melina Palmer, CEO of The Brainy Business, and author of What Your Customer Wants and Can't Tell You, will share exactly what behavioral economics is and why it matters to your success as a business, as a marketer, and as a persuasive communicator. Melina also shares why our customers can't even always tell us what they want, and we explore the concept of Behavioral Baking and how it works to better connect with customers. Key Takeaways:Look for anywhere you're communicating: “10% fat” instead of “90% fat-free” and see where you can flip it and reframe it to more appealing language and messaging (even if it is, logically, the same thing). Reframe your messages as a question to get people talking and understanding what they are looking for. Customers are distracted and are, habitually, buying 95% of the time. You need to understand which side of the habitual line you are on.  "Essentially, behavioral economics is the psychology of why people buy and understanding what's really happening within the brain. It's so important for everyone in life and in business because our subconscious brains are making 99% of our decisions at any given time." —  Melina Palmer About Melina Palmer:Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 160 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and runs the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, published in May 2021 Connect with Melina:Website: https://www.thebrainybusiness.comBook: What Your Customer Wants and Can't Tell You http://bit.ly/WhatYourCustomerWantsGet your free copy of the 111-page PDF Companion Workbook by joining the BE Thoughtful Revolution Community: https://be-thoughtful-revolution.mn.co/share/Pg3nbLXqOXyRiFZI?utm_source=manualTwitter: https://twitter.com/thebrainybizLinkedIn: https://www.linkedin.com/in/melina-palmer-36ab8712/Facebook: https://www.facebook.com/thebrainybiz/Instagram: https://www.instagram.com/thebrainybiz/ Don't forget to download your free guide! Discover The 5 Business Benefits of Empathy: http://red-slice.com/business-benefits-empathy Connect with Maria: Get the podcast and book: TheEmpathyEdge.comLearn more about Maria's brand strategy work and books: Red-Slice.comHire Maria to speak at your next event: Red-Slice.com/Speaker-Maria-RossTake my LinkedIn Learning Course! Leading with EmpathyLinkedIn: Maria RossInstagram: @redslicemariaTwitter: @redsliceFacebook: Red Slice

We, as humans, don't buy for the reasons we think we do, and there are ways to communicate our message so that we tap into those mental models and frameworks - not to manipulate, but to make your case in a way our brains can understand and connect with.  My guest today, Melina Palmer, CEO of The Brainy Business, and author of What Your Customer Wants and Can't Tell You, will share exactly what behavioral economics is and why it matters to your success as a business, as a marketer, and as a persuasive communicator. Melina also shares why our customers can't even always tell us what they want, and we explore the concept of Behavioral Baking and how it works to better connect with customers. Key Takeaways:Look for anywhere you're communicating: “10% fat” instead of “90% fat-free” and see where you can flip it and reframe it to more appealing language and messaging (even if it is, logically, the same thing). Reframe your messages as a question to get people talking and understanding what they are looking for. Customers are distracted and are, habitually, buying 95% of the time. You need to understand which side of the habitual line you are on.  "Essentially, behavioral economics is the psychology of why people buy and understanding what's really happening within the brain. It's so important for everyone in life and in business because our subconscious brains are making 99% of our decisions at any given time." —  Melina Palmer About Melina Palmer:Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 160 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and runs the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, published in May 2021 Connect with Melina:Website: https://www.thebrainybusiness.comBook: What Your Customer Wants and Can't Tell You http://bit.ly/WhatYourCustomerWantsGet your free copy of the 111-page PDF Companion Workbook by joining the BE Thoughtful Revolution Community: https://be-thoughtful-revolution.mn.co/share/Pg3nbLXqOXyRiFZI?utm_source=manualTwitter: https://twitter.com/thebrainybizLinkedIn: https://www.linkedin.com/in/melina-palmer-36ab8712/Facebook: https://www.facebook.com/thebrainybiz/Instagram: https://www.instagram.com/thebrainybiz/ Don't forget to download your free guide! Discover The 5 Business Benefits of Empathy: http://red-slice.com/business-benefits-empathy Connect with Maria: Get the podcast and book: TheEmpathyEdge.comLearn more about Maria's brand strategy work and books: Red-Slice.comHire Maria to speak at your next event: Red-Slice.com/Speaker-Maria-RossTake my LinkedIn Learning Course! Leading with EmpathyLinkedIn: Maria RossInstagram: @redslicemariaTwitter: @redsliceFacebook: Red Slice

So much happened in 2021 at The Brainy Business and in the Palmer household, it has been fun to reflect on it for this episode. Here are a few highlights:  In January, I started teaching a new class at Texas A&M University through the certificate in Applied Behavioral Economics via the Human Behavior Lab.   In March, we rolled out the new website and on May 1st, I launched my free global community of behavioral economics enthusiasts with (currently) over 500 members.  My first book, What Your Customer Wants and Can't Tell You come out on May 11, 2021, and I got to be part of some amazing events this past year sharing about it and other parts of my work.  And, while I didn't talk about it much publicly, I had a baby in 2021! The Brainy Baby, Mr. Hudson Grey Palmer, was born on August 9th and is a fantastic addition to our family.  Join me as we take a look back at all the excitement and top content of 2021. I hope you will enjoy this walkthrough of last year as much as I did.  Show Notes: [00:06] Today's episode is showcasing the best content from The Brainy Business in 2021. [02:12] My very first book, What Your Customer Wants and Can't Tell You came out on May 11, 2021! [03:49] Melina had a baby in 2021! The Brainy Baby, Mr. Hudson Grey Palmer was born on August 9th. Look how cute he is. :) [07:51] Top Countries Downloading The Brainy Business: The US is first, followed by UK, Canada, Australia, India, Germany, Brazil, Mexico, the Netherlands and Spain.  [09:02] Top Ten States: Coming in at number 10 Pennsylvania then New Jersey at number 9, Virginia at number 8, Illinois at number 7, Ohio at 6, Florida as number 5, New York at number 4, Washington at 3, Texas at 2, and California still with the top most downloads of 2021. [10:32] Of the 470,000 total downloads of the show so far, 250,001 have come from the US. That means nearly half of our downloads are international, which is so cool. [12:53] Of those more than 175,000 downloads of the show in 2021, and now with 184 episodes of content to choose from, we get our top 10 episodes of the year, starting with episode 136 on Temptation Bundling. [14:20] Next we have episode 165, when Matej Sucha of Mindworx and insideBE came onto the show discussing research they have done and the case studies of insideBE, which launched in 2021 as well. [15:32] At the number 8 spot we have episode 158 with Matthew Confer letting you know the three things everyone needs to do before you decide. [16:12] Next, at number 7 we have episode 160, an interview with Matt Johnson, coauthor of Blindsight. [17:20] At number 6, we have the only foundations episode to make the top 10 this year, and it was a relatively new one which is pretty cool. This is episode 171 on The Paradox of Choice. [18:33] Our top 5 kicks off with episode 164, an interview with Amy Bucher about her fantastic book Engaged, and so much more about her work in applying behavioral economics. [19:32] At number 4, is episode 140, an interview with Benny Cheung where we talked about some research he did at Dectech that was also featured in chapter 28 of my book, which showcases the importance of testing. [20:55] At number 3 we have episode 159, a behavioral economics analysis of Amazon and coming in at number 2 is episode 144, a behavioral economics analysis of Disney. [22:22] Our top most downloaded episode of 2021, which was episode 157, my interview with Robert Cialdini on his new and expanded edition of Influence, which includes a whole new 7th principle of persuasion. [23:27] One of my main tips is to play the long game and form great relationships so pitching is easier. [26:33] There has never been a month of the podcast where every episode didn't get at least 1 download. [27:24] Let's dig into that top 10 of all time list starting with number 10, which was episode 111, Avoiding everyday work disasters, with Gleb Tsipursky. [28:24] Next is episode 62 on Game Theory and the 8th most downloaded episode of all time, is number 102 on Confirmation Bias. [31:00] The 7th most downloaded is episode 83, How to organize your brain with behavioral economics followed by episode 61 on Color Theory.  [33:37] The episodes with the fifth and third most downloads are both analyses of companies again, like I already talked about for the top downloads of 2021. However, these are different profiles, including number 86 with a behavioral economics analysis of Peloton, and episode 73 with a behavioral economics analysis of Starbucks.  [34:57] In that number 4 spot we have episode 5, The Truth About Pricing. [35:37] Number two is episode 2, The Top 5 Wording Mistakes Businesses Make. [36:37] The most downloaded episode of all time is the very first one, Unlocking the Secrets of the Brain. [39:55] The final top 10 list are the most read articles from my Inc Magazine column in 2021. For the full list, check out the blog post linked here with the summary of all three top content areas! [42:50] The 7th most read article is called, “Dread going to work every day? The culprit may be hanging in your office.” [43:16] The 6th most read article on Inc is the first one I wrote for them. It is called, “1 Simple Brain Trick That Can Help You Overcome Self-Doubt Forever.” [44:57] The fourth most read article is on one of my very favorite things. It's called, “Forget brainstorming. Try questionstorming.” [45:38] The third most read article is, “Feeling unproductive? This brain bias could be to blame.” [46:07] In our still Zoom-filled virtual world, it isn't surprising that the second most read article this year was, “Why you hate seeing your face in video meetings.” [47:02] “Don't ask ‘What are you thankful for?' Try this instead” is my most read article of 2021. [48:22] What's ahead for The Brainy Business in 2022? [51:22] Thank you again for making 2021 such an amazing year and for listening, subscribing, sharing, rating, and reviewing The Brainy Business podcast. I appreciate you all, and can't wait to see what 2022 has in store. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode:   The Paradox of Choice, by Barry Schwartz Never Go With Your Gut, by Gleb Tsipursky Influence (New and Expanded), by Robert Cialdini Engaged, by Amy Bucher Blindsight, by Matt Johnson and Prince Ghuman Top recommended next episode: The Best of The Brainy Business in 2020 (ep 133) Already heard that one? Try these:  The Best Content from the Brainy Business in 2019 (ep 82) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (ep 157) Behavioral economics of Disney (ep 144) Behavioral economics of Amazon (ep 159) Unlocking the Secrets of the Brain (ep 1) The Top 5 Wording Mistakes Businesses Make (ep 2) Starbucks (ep 73) Other Important Links:  Best of 2021 Blog Post  Best of 2020 Blog Post Best of 2019 Blog Post Don't Ask “What Are You Thankful For?” Try This Instead (Inc.com) Why You Hate Seeing Your Face In Video Meetings (Inc.com) Feeling Unproductive? This Brain Bias Could Be To Blame (Inc.com) Texas A&M Certificate in Applied Behavioral Economics The Brainy Business Shop Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia

Have you started planning your goals for the year ahead yet? Or do you have a long list of things you're just hoping to get around to, without any clear roadmap for achieving them? On this episode of the podcast, Melina Palmer and I are exchanging some ideas and inspiration to incorporate into your annual planning for 2022. Think of it as your ultimate CEO Day, a valuable concept where you dedicate time and space to those big picture goals that will move your business forward—but which we usually relegate to the “non-urgent” task list. This conversation will help you to determine what's really important and make practical steps toward scheduling, planning, and prioritizing success. Melina is an applied behavioral economist who helps us understand how the brain actually works instead of how we think it should. So we're really talking about some of those brain biases and how to overcome them...because we all fall victim to mistakes in planning. Because we all have a brain. When it comes to productivity, eight hours is never eight hours and 90 days is never 90 days. Listen in to find out what we mean! And join me for the What's On Your Plate workshop on January 7 if you want to maximize the first 90 days of 2022 to be as productive as possible toward your one big business goal. About Melina Palmer: Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics.  A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics & Business column for Inc. Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, was published in May 2021. Links and Resources: The Brainy Business How The Brain Works with Melina Palmer (My Biz Bestie Episode #89, Season 6) What's On Your Plate workshop Time Stamps: [2:52] What Melina does as an applied behavioral economist [4:34] Annual planning as a multi-day, multi-faceted process [6:25] Clear multiple types of clutter out of your way first [7:06] Narrow down your big goals to three things only [7:57] Shiny objects may be desirable but they're distractions to achieving your top three goals [10:15] Amber's quarterly workshop is like Melina's 90 day sprint [12:00] Take steps and build credibility toward your five-year goal today in your planning [15:32] What's the one thing you would be happy to achieve by this time next year? [16:25] Make your to-do list smaller to avoid optimism bias  [20:53] Pre-plan your goals in a “cold state” [21:20] 90 days is not really 90 days of productivity [24:40] When planning your schedule, start with the big rocks [26:40] ADHD-ers need filters and lenses to make decisions about what to pursue [27:47] What is planning fallacy and how to counteract it [30:52] Emotional clutter can be urgent, unimportant things that take up time [35:20] Melina's top advice for planning out the next year

In today's episode of the Questioning Behaviour Podcast, Sarah and Merle talk to Melina Palmer, podcast host of the Brainy Business, author of "What Your Customer Wants, And Can't Tell You", about her work, about behavioural science and mostly about incentives for "good" behaviours. In the after chat podcast hosts Merle and Sarah get philosophical about incentives and the "right" reason for doing something. Finding Melina: site: https://thebrainybusiness.com/ twitter: https://twitter.com/thebrainybiz BEthoughtful: https://be-thoughtful-revolution.mn.co/feed   Questioning Behaviour Links: Facebook: @QBpodcast (https://www.facebook.com/QBPodcast) Insta: @questioningbehaviour (https://www.instagram.com/questioning...) Twitter: @QB_podcast (https://twitter.com/QB_Podcast) LinkedIn: @Questioning Behaviour (https://www.linkedin.com/groups/8928118/) Music: Derek Clegg “You're the Dummy” https://derekclegg.bandcamp.com/

Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 170 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and writes the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, published in May 2021. Find Melina here: WEBSITE https://www.thebrainybusiness.com PODCAST AND INC.COM COLUMN https://itunes.apple.com/us/podcast/brainy-business/id1404578385?mt=2 https://www.inc.com/author/melina-palmer SOCIAL MEDIA Facebook https://www.facebook.com/thebrainybiz/ Instagram https://www.instagram.com/thebrainybiz/ YouTube https://www.youtube.com/c/thebrainybusiness Twitter https://twitter.com/thebrainybiz LinkedIn (Melina) https://www.linkedin.com/in/melina-palmer-36ab8712/ LinkedIn (The Brainy Business) https://www.linkedin.com/company/the-brainy-business/ #whatyourcustomerwants (for the book) We can also create a freebie for your audience where they get the first chapter of my book for free. I proactively created a URL of www.thebrainybusiness.com/closets in case you want to use it. If you want a different extension let me know, and we are under no obligation to use it! --- Support this podcast: https://anchor.fm/erin-keam/support

Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business, has downloads in over 160 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. In this episode, I talk to Melina about how she got involved in the world of behavioral science, what behavioral economics means to her, and how she goes about applying research in social science to address real challenges in business.You can read the first chapter of her book, What Your Customer Wants and Can't Tell You, for free using this link: http://www.thebrainybusiness.com/opinionscienceFor more information about my comments about "honesty nudges" at the end of the episode, you can check on a recent article by Kristal et al. (2020) and this BuzzFeed News article.For a transcript of this episode, visit: http://opinionsciencepodcast.com/episode/applying-behavioral-science-with-melina-palmer/Check out my new audio course on Knowable: "The Science of Persuasion."Learn more about Opinion Science at http://opinionsciencepodcast.com/ and follow @OpinionSciPod on Twitter.

If you're a human person with any access to the internet, you are likely familiar with unboxing videos. Maybe you like and watch them yourself, maybe your kids love to watch other people open up boxes of toys, or maybe you avoid them at all costs. Whatever camp you are in, at one point or another, you probably thought something like, “Why do so many people watch these?” or “Why do these work?” Today's episode is dedicated to talking through the brain science of what is going on behind the scenes of an unboxing video. In this episode I talk about why they work, what to keep in mind if you ever decide to make your own, and some insights on the various types of “unboxings” out there (anything with a reveal pretty much counts). We will dig in on mirror neurons, anticipation/dopamine, priming, the senses, and more!  Listen now to get the scoop on unboxing videos.  Show Notes: [00:06] Ever wondered why unboxing videos are a thing? That's what we're focusing on in today's episode. [03:19] There are countless ways to do these unboxing or reveal videos. [04:01] In this episode, I am going to talk about four main things that are happening with unboxing videos, or that you should keep in mind when you create these yourself. We are going to talk about mirror neurons, dopamine created by anticipation, priming, the senses, and more. [04:35] Mirror neurons are the key to empathy and our ability to learn from observing others instead of only by doing things ourselves. [06:20] Mirror neurons greatly impact our lives every day. They have done some amazing things for all of humanity, the first of which is our ability to learn by observation and the second is our ability to empathize. [07:31] In an unboxing video, when someone else is opening the box, it is like we are doing it ourselves. We are able to live vicariously through that experience. Because of the dopamine release, it is very exciting for our brains even if we can't have and will never have the item that is being opened or revealed. [08:50] Dopamine is tied to anticipation, and so when there is a moment where you aren't sure what is going to happen -- where you are waiting for that reveal and don't know what is coming out of the box -- you are getting a kick of dopamine. [10:24] Once you know what is in the box (or how the movie ends), the joy for your brain is over. It is about savoring the anticipation that the brain loves. [10:50] Our brains love that uncertainty and expectation. [11:38] If you want someone to be excited about the unboxing process, you should prime them for that excitement. [13:07] Your excitement breeds more excitement in the viewer. [13:43] If you have too much of a lull, people might get bored and leave. You can play the B-side for a while, but you need to mix in some hits here and there to keep it interesting. [14:15] When you create an unboxing video, it is important to try and incorporate all five of the senses whenever you can to help get those mirror neurons firing. [16:31] Descriptive priming words that evoke the senses are critical when doing any video, and in an unboxing, they can get people excited. [17:54] The internet is full of unboxing videos for a reason, find some and take notes. Be sure to watch good ones, sure, but also find and watch some bad ones. What did they do wrong? When did your attention wane? How can you apply that to your future videos? [18:43] If you have never done an unboxing or reveal video before, what could you do one of? Plan in advance how you might incorporate all our main aspects from this episode: mirror neurons, anticipation, priming, and all five senses...and hit record! [20:33] As it is the holidays, it is a perfect time to pick up some Brainy Gear for you or a friend at The Brainy Business shop.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer The Experience Maker, by Dan Gingiss The Hype Handbook, by Michael Schein The Life-Saving Skill of Story, by Michelle Auerbach Marketing Mess to Brand Success, by Scott Miller Top recommended next episode: Mirror Neurons (episode 31) Already heard that one? Try these:  Priming (episode 18) Get Your D.O.S.E. of Brain Chemicals (episode 123) Sense of Smell (episode 25) Sense of Taste (episode 26) Sense of Touch (episode 28) Sense of Hearing (episode 27) Sense of Sight (episode 24) Familiarity Bias (episode 149) Surprise and Delight (episode 60) Scarcity (episode 14) Novelty and Stories (episode 54) Herding (episode 19) Other Important Links:  The Neurons That Shaped Civilization The Mind's Mirror Shopping, Dopamine, and Anticipation Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia

The internationally acclaimed book, Nudge, has shaped a lot of the field of behavioral economics. It has also spurred a whole other area which one of its co-authors, Cass Sunstein, has written a new book about, called Sludge: What Stops Us From Getting Things Done and What To Do About It, which released in fall 2021.  Sludge is everywhere in our lives. So what is it and how do we reduce it? This episode of The Brainy Business podcast is dedicated to all things sludge to help you identify and reduce it in your business. In this episode you will learn about: what sludge is and isn't; a customer facing example of sludge; a back-office example of sludge; how to quantify sludge; and how to get others on your team on board with finding and removing sludge. No matter your size or industry, I guarantee sludge is a problem in your business. Find it, remove it, and enjoy the benefits. Listen to learn more about sludge... Show Notes: [00:06] Today's behavioral economics foundations episode is all about sludge. [02:23] Context and the way choices are presented make a huge difference in what we find to be most appealing. When the choices are presented in a different order we might choose something else entirely. [03:32] When you use a tactic to influence choice, we call that a nudge. [05:45] “Sludge is built into the human condition, and we need to start to remove it, piece by piece.” [07:02] “Sludge hurts all of us, but if you are sick, old, disabled, or poor, or if you don't have a lot of education, sludge is a curse.” [08:07] Sludge is everywhere in our lives. Melina shares examples of sludge.  [10:34] “If sludge is understood to consist of frictions that separate people from what they want to get, the concept is not entirely mysterious.” [11:16] Much sludge involves confusing administrative burdens requiring people to obtain information, to figure out whom to call, to find out exactly what they're supposed to do. [13:01] Sometimes it is good for people to be confronted with a little sludge to prove they qualify for a benefit or that they care enough to earn whatever is presented, or that they are a good fit for a position. [13:30] In this episode I'm going to give you a back-office example, a customer-facing example, and some ways to think about quantifying the problem of sludge so you can know its real impact [13:50] When it comes to customer-facing examples, I like to start with the “buy now” button from Amazon. [15:12] In the buying process, questions like “Are you sure?” or extra fields or steps can act as partitions. Each new partition is a point where someone will evaluate if this is worth it or if they should bail completely or plan to “come back later.” Unfortunately, later often never comes. [17:09] Removing the sludge so you only ask what is absolutely necessary can help a lot more people get over that first hurdle. Focus on each micro moment as it exists and what is absolutely necessary.  [18:23] You can turn the sludge up or down as needed, but again I want to stress that most companies have way too much sludge in the way of people doing business with you. [19:41] My main piece of advice: find the least amount of items you need to get someone to move forward in this singular situation. [20:21] Melina shares back office examples including expense reports, checking tools in and out, and signing off on a change. [21:55] Melina shares her experience when she first started at the credit union and changes required a physical form to be completed by hand. (So sludgy!) [24:15] In the back office, when you trust your employees, you can reduce the sludge and things get done faster, for a lot less money than if you don't have trust. Work on trust and get rid of that sludge. [24:47] Because people get stuck in the status quo, they often don't feel like they can give up sludge. [25:11] Sunstein gives an example of quantifying sludge with TSA Precheck and shares how quickly the value can add up. [26:40] When you take a minute to quantify the lost sales or the minutes wasted by key staff members, the initiatives that couldn't be completed because of wasted time, or anything else. It can add up incredibly quickly. [27:21] Sludge is a huge problem in your business, I promise, no matter your size or industry. Find it, remove it, and enjoy the benefits. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode: Sludge, by Cass Sunstein Nudge, by Richard Thaler and Cass Sunstein Friction, by Roger Dooley The Speed of Trust, by Stephen M.R. Covey The Paradox of Choice, by Barry Schwartz Top recommended next episode: Friction, an interview with Roger Dooley (episode 72) Already heard that one? Try these:  Introduction to NUDGES and Choice Architecture (episode 35) iNcentives: the “N” in NUDGES (episode 36) Understanding Mapping: the “U” in NUDGES (episode 37) Defaults: the “D” in NUDGES (episode 38) Give Feedback: the “G” in NUDGES (episode 40) Expect Error: the “E” in NUDGES (episode 39) Structure Complex Choices: the “S” in NUDGES (episode 41) Amazon: a Behavioral Economics Analysis (episode 159) The Speed of Trust, with Stephen M.R. Covey (episode 148) Partitioning (episode 58) Paradox of Choice (episode 171) Status Quo Bias (episode 142) Change Management (episode 7) Framing (episode 16) Interview with Dr. Robert Cialdini (episode 157) Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia

Melina Palmer is founder and CEO of The Brainy Business, which provides behavioural economics consulting to businesses all around the world. Every episode of her podcast, The Brainy Business is about behavioural economics and Melina's at episode 178 now, so there's a lot for you to digest there. . Melina worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioural economics. And now she's an Instructor at Texas A&M University on the Certificate for Applied Behavioral Economics. Her first book, What Your Customer Wants and Can't Tell You explains the neuroscience of consumer behaviour. And that's where 42courses founder Chris Rawlinson picks up the conversation with Melina.

A company's success nowadays is so reliant upon pitching and getting media coverage. Having a credible source say positive things about you and your company can be pivotal when it comes to whether your brand is going to be seen or not. That is exactly why this episode of The Brainy Business is dedicated to giving you some concise tips on how to use behavioral economics to pitch your brand. I know pitching yourself can feel awkward, but when you understand the brain science it doesn't have to be, especially if you follow my tips! I discuss different brain biases such as social proof, authority bias, familiarity bias, and really focus on availability bias. Availability bias is critical to pitching success. You can take advantage of it by predicting and paying attention to trends and finding a way to offer people a fresh perspective on them. We close with three key points to keep in mind when pitching: (1) keep it short (2) be happy with your language and (3) follow directions. This and so much more in this episode, which will help you use behavioral economics to successfully pitch yourself and your business, so listen now... Show Notes: [00:06] In today's episode, I talk about using brain science to successfully pitch to media. [02:22] Pitching yourself can be awkward and uncomfortable, and there are brain biases that can explain why that is. Understanding them can help you turn them around and use them to your advantage. [05:05] There is good news – pitching doesn't have to be so hard if you use my tips! [07:20] I explain why media coverage and pitching are so important, beginning with social proof. [08:43] Authority bias leads us to believing that anything that the news or media reports is true or else it wouldn't be featured. [09:32] Familiarity bias makes us lean toward things that we already know or know of. [10:26] The final (and I would argue, most important) brain bias that is to your benefit when pitching is availability bias. [12:48] One of my favorite examples of availability bias is how travel to Norway drastically increased following the release of Disney's movie Frozen! [14:20] In order to take advantage of availability bias, you need to predict trends and offer something unique in relation to them. [16:30] Pitching to reporters can be stressful, but remember that reporters are people doing a job. You can be a resource to them they are thankful for if you connect with them properly. [19:06] A simple and easy habit you can create to make you a master at pitching by taking advantage of availability bias. [21:55] Recognize where you fit and where you can fill in gaps. [24:23] Remember to take advantage of familiarity bias! Get people to know who you are and like you before you ask for anything [25:41] I recommend signing up for HARO (Help a Reporter Out). [27:10] It's important to remember that not all of your pitches will land, but that only makes it that much more rewarding when they do. [27:43] I give you some key tips to keep in mind: (1) keep your pitch short and sweet, (2) be sure that you're satisfied with how your pitch is worded, and (3) follow directions that reporters put into their requests and do what they ask. [29:30] A quick and simple summary of all the tips in the episode. [31:03] Registration is now open for my Setting Brainy Goals course! Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show. I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode: Influence, New and Expanded: The Psychology of Persuasion, by Robert B Cialdini PhD Presuasion, by Robert B. Cialdini, PhD You're Invited, by Jon Levy The Hype Handbook, by Michael F. Schein The Speed of Trust, Stephen M.R. Covey Top recommended next episode: Availability Bias (episode 15) Already heard that one? Try these: Familiarity Bias (episode 149) Confirmation Bias (episode 102) Framing (episode 16) Priming (episode 18) Optimism Bias (episode 34) Social Proof (episode 87) Reciprocity (episode 23) Herding (episode 19) Focusing Illusion (episode 89) Prefactual Thinking (episode 71) Bikeshedding (episode 99) Survivorship Bias (episode 110) Dr. Robert Cialdini and the (Now!) 7 Principles of Persuasion (episode 157) Other Important Links: HARO - Help A Reporter Out Certificate in Applied Behavioral Economics at Texas A&M Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia. Also, be sure to register for her upcoming Setting Brainy Goals course!

Have you ever had a disruption in your routine – moving to a new house, taking a new route to work – and found yourself exhausted every day?  This is common when our habits are upended (the subconscious can't use its rules anymore so your conscious is having to do a lot more work!). And while it may feel annoying, this is also a great opportunity to innovate and change your life for the better.  Today, I'm joined by Adam Hansen, VP of behavioral innovation at Ideas To Go and coauthor of Outsmart Your Instincts who happened to be in the midst of a move, so we talk about how to reframe an annoying disruption in habits to make it work for you. We also discuss the curse of knowledge and how it impacts businesses, risks of omission versus risks of commission, and other fun behavioral goodness sprinkled throughout (including my new favorite term of being an “omnivore of information”). Listen now... Show Notes: [00:07] In today's episode, I'm excited to introduce you to Adam Hansen, VP of behavioral innovation at Ideas To Go and coauthor of Outsmart Your Instincts. [03:18] Adam shares about himself and his background. He always knew that innovation would be part of his career.  [05:18] When working on the book, they started looking at all the cognitive biases to figure out which ones were causing most of the mayhem in innovation.  [06:16] If you adopt the behavioral innovation approach, you can see three to four times improvement in performance and quality of ideas very early on in innovation. You can get to better ideas faster.  [09:01] All of the thousands of small decisions we make every day that have been automated are lost when you move. Each little thing is so minor that we don't realize what the cumulative effect of all those small decisions is.  [10:02] It is important for us to automate everything we can.  [12:19] It is impossible for us to place ourselves fully back in the shoes of our first-time clients. Our version of dumbing things down to meet them where they are is still going to be more advanced than where we need to get to. We can work on this by following up with first-time clients and asking what you could have done better.  [13:46] There is so much more jargon in your business than you think there is. [16:10] Our need for tangibility is much greater than we assume. Most people need help to break down abstraction. The more tangible you can be the better.  [18:13] The curse of knowledge is the idea that once you become knowledgeable in a given area, you can't unknow what you know and you can't fully place yourself back in the shoes of the subject.  [23:27] Negativity Bias is the idea from our ancestors of thinking of all novelty as threat and not opportunity.  [25:12] Especially in innovation, we need to be as opportunity minded as possible. We need to be aware of threats and take smart action to minimize and mitigate those threats.  [27:43] When we are in moments of threat, to still be able to take swift decisive action is fantastic (and sometimes life-saving!)  [28:29] The research shows that negativity can appear super profound. Too often we are shooting down ideas and not coming up with alternatives. That is not progress.  [30:31] We are predisposed to go toward the negative any time a new idea comes up.  [31:38] The more you can value ideas early on for their provocative value rather than for their immediate merits the better. Then you are in a better frame of mind to take on the negatives.  [33:54] When you approach challenges to problems in this way, there is real value. The language is brilliant, priming to get people to deal with problems and concerns in a much better way.  [35:10] If you are an optimistic person it doesn't mean that you don't have a negativity bias and pessimistic people still have optimism bias.  [36:44] Go in understanding that there will be some differences and then the task becomes “How do we get the most out of the differences?” The more you can approach differences with curiosity than defensiveness...the better.  [37:48] Curiosity is very smart and super adaptive. Be curious even when it is hard to be curious.  [39:07] Curiosity kills the cat, satisfaction brought it back. (Did you know there was more to that saying?!) [41:49] It is hard to gather data on what you don't do.  [43:42] Every year to 18 months every person should “fire themselves.” If you fire yourself and come into your job as if you had new eyes...what would you do differently? When you start a new job you are looking for all these opportunities of growth and then you become stagnant.  [45:07] We need to be more intentional and realize we can choose better because we have all these nonconscious instincts so we can choose otherwise.  [46:49] Meaning is created dialogically not monologically.  [47:35] Melina shares her closing thoughts.  [47:42] One of Melina's favorite things is this idea of being an “omnivore of information.” It's such a great way to think about learning and essentially devouring all kinds of topics from various origins. [50:07] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! Get the Books Mentioned on (or related to) this Episode: Outsmart Your Instincts: How The Behavioral Innovation Approach Drives Your Company Forward, by Adam Hansen Good Habits, Bad Habits: The Science of Making Positive Changes That Stick, by Wendy Wood How To Change, by Katy Milkman Connect with Adam:  Ideas To Go Adam on Twitter Past Episodes & Other Important Links:  Top recommended next episode: Good Habits, Bad Habits: an Interview with Wendy Wood (episode 127) Already heard that one? Try these:  Availability Bias (episode 15) Familiarity Bias (episode 149)   Status Quo Bias (episode 142) Confirmation Bias (episode 102) Framing (episode 16) Stressed and Overcommitted? Tips to Tackle Planning Fallacy (episode 114) 95% Of Decisions Are Habitual – Which Side Is Your Business On? (episode 21) Priming (episode 18) How To Change, an Interview with Katy Milkman (episode 151) Curse of Knowledge - coming soon! Negativity Bias - coming soon! Risk of Omission vs. Risk of Commission - coming soon! Check out Melina's award-winning book, What Your Customer Wants and Can't Tell You on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia

Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business, has downloads in over 160 countries. Melina worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. She has contributed research to the Association for Consumer Research, Filene Research Institute, and runs the Behavioral Economics & Business column for Inc Magazine, and she teaches Applied Behavioral Economics in marketing, pricing, change management and more at Texas A&M Human Behavior Lab. Her first book, “What Your Customer Wants and Can't Tell You” is out now. You can check her website The Brainy Business here. Or get in touch with her through: . LinkedIn: Melina Palmer . Instagram: Melina Palmer

Back on episode 111, I was joined by Dr. Gleb Tsipursky, CEO of Disaster Avoidance Experts discussing his book “Never Go With Your Gut.” When Gleb reached out to let me know that he has a new book on helping companies think through and prepare for returning to the office, including the cognitive biases that can impact this decision-making process for people in business, I knew I had to have him back for another conversation. This specific topic is incredibly relevant right now, but there is also an incredible amount of insight Gleb provides about leadership's collective cognitive biases that absolutely relate to other big strategic decisions as well. As you'll hear in the conversation today, beyond his background knowledge of behavioral science and those concepts, Gleb interviewed and has done work with more than a dozen companies and helped them with their plans to return to the office. His insights can help you to learn from their mistakes and best practices as you work on your own plan. Whether you are looking to keep a fully remote workforce, have everyone back in the office, a hybrid approach, or if you aren't sure yet, this episode is for you.  Show Notes: [00:07] In today's episode I'm delighted to have Dr. Gleb Tsipursky back with us to share about how to avoid disasters when returning to the office. [01:45] His insights can help you to learn from their mistakes and best practices as you work on your own plan. [03:40] Gleb shares about himself and his background. His background is in decision-making and risk management.  [06:02] Most recently he has been helping companies return to the office most effectively and prepare for the future of work.  [08:37] People are your main source of competitive advantage. What do your current people want? What do your potential hires want? [10:34] If your people are your main source of competitive advantage, wouldn't you think you would want to know what kind of things they want to do in returning to the office? It is their future after all.  [11:12] The surveys tell us that the future is very much hybrid: 85% of people in various surveys want a hybrid or full-time remote option.  [14:13] People report higher productivity as well as much higher happiness and well-being when they are working from home.  [16:08] There are a lot of advantages to having substantial remote work and disadvantages to forcing people back into the office.  [17:28] Your primary consideration should be your people. Then you can look at how many usages you are having of your location.  [20:14] Once you decide on occupancy, you can get rid of some of your unused space.  [21:25] You need to transform much of your existing space into a collaborative space.  [22:52] Status quo bias is one of the biggest problems here. The status quo bias refers to the fact that we prefer things to remain stable, as they were, and the right way.  [24:20] Never go with your gut (learn more about this in Gleb's book of the same name, link below).  [26:21] Another related bias to this problem is anchoring. We tend to be anchored to the initial information that we have.  [28:08] Confirmation bias is one of the biggest problems that we have in terms of the information we gather.   [30:50] You want to make sure to plan for the possibilities of other variants down the road.  [32:26] You want to strategically adapt to the virtual format.  [35:38] Two dynamics for creating serendipitous conversions in virtual settings are innovation and collaboration.  [37:40] Companies need to have a channel for serendipitous idea generation for each team. Then other people see the comment and then they comment back and then that transforms into a really great conversation that you can take into brainstorming.  [39:48] Traditional brainstorming has a number of advantages and some problems.  [41:31] It helps to have virtual brainstorming instead. Virtual brainstorming involves people separately typing into a digital spreadsheet anonymously.  [43:30] This has been shown to greatly improve the number and quality of ideas generated.  [44:51] How can we make this something amazing versus something we are stuck with?  [46:42] When you are able to look at the opportunity, you are able to beat out your competitors.  [47:58] We can actually successfully work remotely. It is a fundamental transition in how we think and approach the world.  [49:18] You need to adopt best practices for hybrid and remote settings.  [50:52] Melina shares her closing thoughts. [53:50] The important thing to keep in mind, much like Gleb's advice for recreating serendipitous moments online or doing virtual brainstorming, is that you can't allow yourself to be stuck by the constraints of how the benefit was generated before. [55:41] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

A few months ago, in episode 162 you got to hear from Leidy Klotz about his fantastic new book Subtract, which is based on this question of why we humans look to add first when often subtracting can be a better option. It is a little bit of minimalism/essentialism and a really great episode to help people overcome loss aversion and see that, as he says, “less is not a loss,” such a cool insight. Anyway, while he and I were doing our pre and post-interview chat, he mentioned that his friend and colleague Eric Johnson had a book coming out soon called The Elements of Choice and that I should talk with him about it, so here we are. Dr. Johnson is not a newbie to the space by any means, as you will hear in the interview. He has had the opportunity to work and train with some of the most notable names in the field, including Herbert Simon, Amos Tversky, as well as his friends Richard Thaler and Cass Sunstein. He is the Norman Eig Professor of Business and the Director of the Center for Decision Sciences at Columbia Business School. He has been the president of both the Society for Judgment and Decision Making and the Society for Neuroeconomics. He has decades of experience and definitely knows his stuff, which is one of the many reasons I was so honored to chat with him and share the conversation with you.  Show Notes: [00:07] In today's episode I'm introducing you to Dr. Eric J. Johnson, author of the brand new book, The Elements of Choice. [03:57] Eric shares his background and how he got into the field. His research has always been about helping people make choices and how the way we present information to them affects their choices.  [05:40] He was fascinated with the choices he observed people making.  [07:06] Eric shares research from a former student of his. She implemented the health records systems at a major New York hospital.  [09:18] Memory played an important role in the doctor's behavior in her research. [11:31] When you put in the time to plan the architecture upfront, the actual intention itself can be very small. Designers often have more influence than they realize. [12:42] He shares his research about taking different doors at the Copenhagen airport. [14:06] Little bits of effort at the beginning of the decision have an influence throughout the course of the decision. Choice architecture usually works by favoring one path over another.  [16:10] If I know exactly what you want I would give you just one option, but the person making the choice knows a lot about themselves so they often know more about what they want.   [18:10] There is a trade-off between how much you are asking of people (in terms of deciding) and how much variety you need to give them so they can find the option that is best for them.  [20:45] Choice is not determined by myself and my preferences alone.  [21:38] We are all designers all the time.  [23:14] Order will have an influence depending on your medium. There are many other things as a designer to think about also.  [24:50] Defaults are powerful. Eric and Dan Goldstein researched defaults in organ donations.  [27:07] Not all situations are the same, so you really need to look across all the studies and understand your own situation and context.  [28:44] Our preferences aren't written in stone. We have many preferences. Depending on what comes to mind, I might make different choices.  [29:36] Eric shares one of his favorite studies where they ask people about climate change and would they pay a carbon tax (or carbon offset) to fight climate change.  [32:26] One study is not enough to actually build a science. We need to do cross studies. [35:16] Eric shares how choice architecture can affect COVID vaccinations.  [38:00] Defaults work because they endow you with the option. You think less about the disadvantages. [39:26] The decisions of our privacy and cookies are decisions we make multiple times a day.  [40:32] Choice architecture and designers have amazing influence. Hopefully, people will design in ways they want to be designed to.  [41:46] Melina shares a study about trying to influence people to take the stairs instead of riding the elevator.  [43:31] Defaults are everywhere. They save us effort by not having to make a decision every time.   [46:16] Melina shares her closing thoughts. [47:44] The more you know about someone, the fewer choices you can provide to them. When you have no idea who your customer is – what they like, what the context is of them finding you, why they are there, what needs they are looking to fill or problems they need to solve, you then have to present a whole bunch of choices, which can make it harder for them to make a decision. [50:33] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Today, I am very excited to introduce you to Dr. Andy Luttrell, a social psychologist who has (at least so far) devoted his career to understanding people's opinions. You know I love a good question, and he is mostly curious about those opinions people hold onto really tightly and can't seem to let go of. As he asks on his website, “Why do we hold some views that define us and others that we're happy to change?”  Such an interesting topic, and I am excited to let you hear some of his findings on the science of opinions and how that ties in with persuasion in our conversation today.  Show Notes: [00:06] In today's episode I'm excited to introduce you to Dr. Andy Luttrell, professor and host of the Opinion Science Podcast. [03:15] Andy, a social psychologist, shares about himself and his background.  [05:45] In some cultures, our view of ourselves is ever changing. Others are more fixed. [08:17] Your audience is going to have its own way that it prefers to navigate certain questions. The way you present yourself and your brand image, or the messages you communicate with ought to take that audience's preference into account.  [09:56] Oftentimes, we have to pick what works for our brand and just go with it.  [10:41] If someone sees their stance as rooted in morality, they are often not going to budge.  [11:18] If the message matches the kind of opinion the audience already has, it is going to go further.  [12:49] When we are trying to talk about these moral issues, sometimes we feel like we want to retreat from talking about morals, but that is exactly the dimension that the audience cares about (and has proven to be more persuasive).  [14:54] Are logical arguments the most persuasive or are emotional arguments the most persuasive? It depends on who you are talking to.  [15:56] Most people are not only logical or emotional people. It also depends on the context of what you are talking about.  [17:20] There are all sorts of ways personality variables can come into play with the persuasion process.  [18:34] Anyone has the potential to change their mind. Some personality variables can have to do with one's willingness to engage with certain ideas.  [20:20] Some research shows that we can sell our products or ideas framed in terms of the personality traits that define you best and that is going to have more leverage.  [21:34] The personality of the person you are trying to influence is going to determine which message is going to be most impactful.  [23:29] If we are framing something in terms of a very political audience and the wrong person comes across it, that might actually tarnish the image or backfire. If you are working in a sensitive space, be aware.  [25:45] We have this foundational understanding of persuasion that goes back to the 40's.  [26:07] Persuasion is at the heart of what we do every day. It doesn't feel like we are trying to constantly influence the people around us, but we are talking about our opinions almost all the time.  [27:06] There are always going to be some growing pains in the application process.  [29:09] We can have good guesses but we don't have specificity.  [31:10] If you run the same simulation a dozen times it is not going to go exactly the same in each one. There is a bunch of stuff you can never really account for.  [32:26] You run the risk of chasing things that are not relevant if you have too much to account for.  [33:40] Persuasion is about changing your evaluation of something.  [35:14] A strong opinion is one that people say they will not change and it will be the thing that guides the decisions they make.  [37:22] One place confidence comes from is consensus. If we think most people hold the same opinion, we become confident in it (for better or worse).  [39:46] Strength is an important part of the equation in getting people from one side to another.  [40:19] One interesting way people have looked at persuasion is through self affirmation.  [41:29] You are perfect with room for improvement.  [43:27] Melina shares her closing thoughts. [45:13] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Back on episode 160, I was joined by Dr. Matt Johnson to discuss his book Blindsight and the work he and his counterpart were doing at Pop Neuro. Today, that counterpart, Prince Ghuman, is here to expand on that conversation and discuss some more amazing work.  One of the things I loved in the book, and that Prince and I really expanded on today, is why we like the things we like. Some of what we discuss today tie back to my recent interview with Dr. Troy Campbell in episode 169 on the Science of Cool. It was a much-loved episode and I expect similar high praise from today's conversation! Show Notes: [00:06] In today's episode I'm excited to introduce you to Prince Ghuman, coauthor of Blindsight. [02:57] Prince Ghuman shares about himself, his background, and how he got into the world of behavioral science and marketing. He is an author and professor.  [05:11] Prince and Matt are founders of Pop Neuro where they teach marketers how to ethically apply neuroscience to marketing.  [06:07] One of the things lacking in the marketing curriculum is a heavier emphasis on neuroscience and psych.  [07:05] If we are marketers, we are fundamentally students of human behavior and human psychology.  [09:37] The principle piece is as important if not more important than the traditional neuroscience imaging techniques.  [11:38] He would love for there to be one person on each marketing team that specializes in neuromarketing principles because, at the end of the day, marketers want to create good marketing and good brand experiences. Consumers also want to be charmed by brands, products, and experiences.  [13:31] Cross-functional teams are the answer. Having one neuromarketer on every marketing team is the bare minimum. Every marketing position should understand behavioral science.  [16:03] The next operating system of marketing is more deeply scientific.  [17:06] The more we philosophically touch and experience something, the more we are likely to prefer it.  [17:50] We like things that are different because we like novelty, and we like things that are similar because we like the safety of similar things. If something is too new it hurts adoption. If something is too safe it hurts adoption. It needs to be somewhere between new and safe. [18:48] Sandwiching something new in between two familiar things helps bump up the likability.  [19:48] Early adopters have a higher acceptance of an imbalance of new and safe when it is tilted towards new. Late adopters are tilted towards safety.  [22:43] When Oreo brings out new cookies, it gets them back on your radar even if you don't try the new types.  [23:27] Listener Question! Attention is based on the brain's statistical learning tendency. Our brains are also taking into account and picking up on patterns.  [26:04] Unpredictability gives you a bigger hit of dopamine. Unpredictability hits the reward center a lot harder. The brain's pattern-seeking behavior primarily happens behind the scenes. It just drives a lot of what we do.  [28:27] It is called the “pursuit of happiness” because it is the pursuit that gives us the most amount of happiness, not the achievement of happiness.  [30:10] Unpredictability works to increase engagement.  [32:59] Today's new thing that you hate is replacing something that was new once (and that you hated then).  [35:25] As much as we want to point a finger at companies that are using digital products to model behavior, we also have to look at ourselves. Until we decide to kick our addiction to “free” it is going to be really hard to kick our addiction to Instagram.  [37:48] For marketers, the challenge is to understand neuroscience and psychology throughout the entire marketing process so we can create better products, brands, and experiences.  [39:01] The answer to bad marketing isn't no marketing. It is better marketing. Neuroscience is the way to do it.  [41:46] Melina shares her closing thoughts. [43:54] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Learn about the rising expectations of retail customers, getting into your customers' brains, and how a traditional Chinese practice may make working from home more tolerable. Bite-Sized Delight From the Episode: • Upgrade Your Online Presence - Shifting customer expectations in a post-COVID era require you to enhance your online/ecommerce experience now. • Experience Behavioral Economics - Melina Palmer's newest book ”What Your Customer Wants and Can't Tell You” offers a guide and checklist to unlock your customers' decision-making process and apply psychology/behavioral economics to your business. • Shift the Environment - blending feng shui with customer experience can inspire your team/staff and your customers. Are You Looking for Things We Referenced? • The Changing Face of Retail: What Modern Consumers Expect From Retail Customer Service - Kustomer • What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics - by Melina Palmer • Companion Workbook for “What Your Customer Wants and Can't Tell You” - by Melina Palmer • Claire Bosco Scott - BizShui Method Learn more about the Experience This Show and the hosts: Joey Coleman Dan Gingiss

I know you have a lot of options for what to listen to, and I'm glad you chose The Brainy Business. Especially because (as you'll hear about on today's episode), due to the paradox of choice, having too many options and decisions can leave people paralyzed instead of empowered. That paralysis can make it so people don't make any decision at all, so you stick with the status quo of scrolling Instagram or playing a game on your phone. With over 2 million podcasts out there to compete with (plus all the YouTube channels, Netflix, and other streaming services, music options like Spotify and Pandora), plus games and email, and...well you get the idea...There are a lot of options out there that could have made tuning in a very complicated choice. In today's episode, I will tell you all about the paradox of choice: what it is, and why it matters for you in life and in business (including some tips for creating and presenting options to your current and potential customers). Show Notes: [00:06] Today's behavioral economics foundations episode is about the paradox of choice. [03:02] As I mentioned in the introduction, the paradox of choice is a term and concept popularized by Barry Schwartz, whose book and popular TED talk have been shared around the world. [04:42] When presented with too many choices (like we have in most societies today) people become paralyzed, stressed, and feel stuck. It can cause mental anguish and regret. Some choices are good, but too much and we are definitely worse off. [05:24] The really important thing to know is that adding some choice is important. Because we humans can't value one-off items, having at least some choice and comparison helps us to make a decision and feel good about it, but too many and we get overwhelmed. [07:15] When there are too many choices, our brains get overloaded. [09:41] It is easier to stick with what we have always done than to look for something that may or may not be better.  [11:42] Your subconscious is dealing with this sort of letdown constantly. It can get very taxing over time and it's no wonder our brains rebel at the idea of evaluating too many options. [13:14] In a world where there is always another option, always a list of potential matches and the feeling that (much like the pair of jeans) perfection is “just one search away”...it can be hard to settle even when the choice is something you would be incredibly happy with. That constant thought of “what if” can be too much for many to bear. [13:53] Anticipated regret can have a huge impact on behavior. We want to choose wisely and, frustratingly, this pursuit of perfection (or even just a little bit better) can cause us to make worse decisions. [15:02] The important thing to know is that while it seems like lots of choice and infinite options would make us happier (increasing our freedom and wellbeing to use the terms from earlier) that just isn't how it works. [17:12] A maximizer is always looking for the best of the best. They want to make sure that they choose whatever is objectively the best there is every single time. That anyone else could look at and know that it is conclusively “the best choice”. [17:28] Satisficers are people who find something that is “good enough” and feel satisfied with that choice. Once satisficers find something they are happy with, they are good to go and don't necessarily dwell on “what might have been” too much. Even if there was a better option out there you could have made, you are subjectively happy and therefore at peace with the decision. [20:04] For maximizers (like my husband), these details are vital pieces of information needed to make a decision, and for satisficers (like me), it is just too much to think about. [22:45] The first tip is to choose when to choose. If you only save the big evaluation for the really important stuff, it will help you have that mental capacity when you need it and not be so stressed and overwhelmed with the small stuff. [24:07] Don't waste a bunch of mental energy on decisions that don't matter. Be happy with good enough whenever you can, so you can have more mental energy when you need it. [24:22] The next tip, which is to become a chooser, not a picker. [25:27] The next tip is to satisfice more and maximize less. As you just heard, satisficers are happier, less stressed, less regretful, and so much more. Good enough is often good enough. [25:58] Think about the costs of missed opportunities. In short, you should look for the balance of thinking of missed opportunities. [26:20] Next is to make your decisions nonreversible. If you aren't able to “what if” you are more likely to be happier with a choice you made because you won't dwell on it. [26:31] Practice an attitude of gratitude. There are lots of studies that find we are happier and better off when we appreciate what we have. Be grateful for everything you have in your life [27:05] Regret less. If you don't think about choices you have made after the fact and don't allow regret to control you, it will allow you to be happier overall. [27:19] Anticipate adaptation. We naturally adapt to any situation – plan accordingly to avoid constantly chasing the next high. [27:53] Control expectations. When there are too many choices, the expectations for something to be perfect are far too high, and because nothing can really live up to that standard, you end up with a recipe for always being disappointed with items not meeting unrealistic expectations [28:21] Curtail social comparison. What is your happiness worth and how do things change if you add that into your evaluation? Eliminating social comparisons can help with that. [29:11] His last tip is to learn to embrace constraints. Limiting options and reducing possible choices can help you to fulfill these other tips on the list. Embrace the idea of constraints and set up some firm rules for yourself to follow around choice. You will be surprised about how they help your mental state. [30:30] NOW, my tips for business applications (which are different than on an individual level. First, is to know that people are generally overwhelmed with all the decisions they are having to make every day. [31:00] You also want to really consider what choice they are making and what the defaults are. [33:15] When someone asks for your recommendation – give it, and don't provide more than two options. Be enthusiastic about it, explaining a little of why you like it to prime them for excitement. [34:56] To summarize, you are going to limit the options you present and show that you are the expert (and did the heavy lifting for them) by making recommendations and helping work with those herding instincts by including some social proof. [35:25] If you implement your social proof and relativity and structure the decision well, it can make a decision easier without people getting so overwhelmed that they walk out. They can feel like there are a lot of options, but you can still nudge and guide them along the way to reduce the number of decisions and make them easier. I'm calling this the “illusion of choice.” [37:42] Consider the customer experience – who is searching? What problem are they solving? What is the best solution? How can you make it obvious that it is the best choice for most people to help them decide? [39:17] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia. Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

A few weeks ago, I had the honor of being a speaker at Greenbook's IIEX Behavior Conference, an amazing event that brings people together from around the world to talk about behavior and insights and so much more. My piece of this event was doing a live podcast interview with Dr. Ingrid Nieuwenhuis for the session called When Machine Learning Meets Neuroscience.  A couple of weeks ago, Sam Albert joined me to discuss AI and its role in behavioral science, and this conversation with Ingrid was so fantastic and really building on that. I was delighted when the team at Greenbook said I could share this conversation here with you on The Brainy Business. This is the exact audio from that conference, and if you want to see it in video form, it will be shared via my free global community, the BE Thoughtful Revolution when the episode airs.  Show Notes: [00:06] In today's episode I'm thrilled to introduce you to Dr. Ingrid Nieuwenhuis, head of science at Alpha.One. [00:56] My piece at Greenbook's IIEX Behavior Conference was a live podcast interview with Dr. Ingrid Nieuwenhuis for the session called When Machine Learning Meets Neuroscience.  [03:21] Ingrid shares about herself, her background in neuroscience, and what she does as head of science at Alpha.One. She is trained as a neuroscientist. [05:03] After a whole academic career, she joined a start-up company where she used similar techniques to measure consumers' responses. Then she moved to New York and worked with the marketing department at Facebook. After ten years, she moved back to the Netherlands and joined Alpha.One. [07:49] Ingrid has done amazing work over her career.  [09:12] Expoze.io is a technique based on deep learning.  [09:54] Deep neural networks are networks that are based on the brain layers and instead of having to tell the network what the rules are. If you have a lot of data the network can figure out the rules itself. To train this network you need a lot of labeled data.  [11:16] When you have this big data set where you have all this labeled data, you can actually get the network to create a heat map that is very similar to reality.  [14:14] Branding is very important. In the long term, to build value you have to build your brand.  [15:14] Building a brand and being able to communicate your brand in your packaging and ads is so essential for successful marketing and branding in general.  [17:43] We are so wired for social interaction that our eyes are unconsciously drawn to faces and are attracted to them.  [18:43] With small changes, you can really change how something is drawing attention.  [19:48] They are currently building a product that is measuring brand value. They are focusing on getting measurements on brands.  [21:34] Contrast is going to draw our attention.  [23:02] There is always a balance between the story you want to tell, the emotion you want to create, and how you want to draw people in.  [24:00] If your story has to build up and there is no brand in the first few seconds it is almost a wasted impression.  [26:20] Really good creative agencies are able to integrate a brand into a story in a way that isn't intrusive and the brand can really be the hero in the story.  [28:25] You have to really work to create multi-disciplinary teams.  [29:41] Statistics is an area that is so important and not always present in companies. So much of what we are currently doing is big data.  [30:37] Be open to multi-disciplinary teams and realize that it helps. When you take the time, really good things automatically emerge and it becomes very fulfilling and rewarding for everyone.  [32:38] There is so much we can learn from each other if we are just open to it.  [32:55] Having a diverse team is really important in making sure you can think about as much as possible before you launch.  [33:25] Often you need the input from all the areas to actually get it right.  [34:18] Melina shares her closing thoughts. [35:35] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Today is a very fun episode about something that you might not think has a science to it, but definitely does which is so amazing! My guest is Troy Campbell, who got his Ph.D. at Duke University and has worked at/for Disney, Netflix, Nike (and much more) as well as taught at the University of Oregon. He has done so many cool things so far in his career, and he is here to talk about how you can do the same by incorporating the science of cool. Coolness may feel intangible. Like it is this enigma some brands or people just have or don't and if you aren't cool you just have to accept it. But as Troy will show us today, that doesn't have to be the case. There is a science to it and there are lots of important lessons for your brand (and even making something as mundane as meetings more fun, effective, and cool). Listen to learn this and more in today's episode... Show Notes: [00:06] In today's episode I'm excited to introduce you to Dr. Troy Campbell, Chief Scientist at On Your Feet. [01:21] There is a science to cool and there are lots of important lessons for your brand. [03:51] Troy shares about himself, his background, and how he got into behavioral science. [05:23] Behavioral science has the closest thing to a magic spellbook that exists.  [07:14] He shares an origin story about a lecture he created based on the song “Everything is Awesome” from The Lego Movie.  [10:12] On Your Feet is a group that brings more joy, less fear, and better results to everything in business.  [10:55] Suffering from meeting burnout? The first thing to do is include the right warm-up for the meeting. Different meetings need different warm-ups.  [11:47] Tell the story of the meeting. [13:57] It is a personal warm-up because the thing you need to do is warm up people talking, chatty, and being with each other. In non virtual spaces, it is usually accomplished when you walk in and start talking to the person sitting next to you.  [15:40] Melina shares about using story cubes.  [16:39] Another great warm-up activity is a scavenger hunt.  [17:27] The mind is not a Tesla Roadster that can go from 0 to 60 in 1.9 seconds. It's more like an old Ford. It is reliable if you give it time to warm up.  [18:17] In general, everyone wants to be cool to some degree. We all want to feel cool, we all want to give people cool experiences, and we as a brand have to need to be cool to our audience.  [19:02] Cool is autonomously breaking the norm in a somewhat positive way. [20:44] There is no objective cool. Cool is all about norms, individuals, and the way to engage with the norms.  [23:09] Cool is breaking free from the norm. Cool is finding a norm that people don't think is that great and resisting that norm to an audience that likes it.  [24:08] We all want to feel as if we have this ability to autonomously break free from a negative norm in a positive way. As a brand, we want to create these cool things so we are seen as cool and we want other people to feel cool when they are using our brands.  [26:37] Troy shares one of his favorite moments ever from a workshop. [28:57] When companies break the norm in a positive way, it is the psychological feeling of cool.  [30:09] Metamodernism is this type of culture that we are in right now which is people really mixing things together in positive ways.  [32:26] Putting the old and new together has been a useful tool.  [34:07] What is too safe for one person is not too safe for another person. It is very difficult to be cool to everyone. (Know your niche!!) [35:29] Break a norm that is in line with something they need or ideology. In order to truly be cool, you need to go through really good design workshops.  [37:14] Let people be different. We need to see the whole spectrum of talents in behavioral science and allow that to happen.  [40:35] The brain is so complex. That melting pot of a field is so important for moving it forward.  [41:33] There are some things about behavioral science that are not fascinating--but they are still incredibly important and take skill to master. What is really great about behavioral science is the nuances and sophistication we bring around that.  [43:43] With behavioral science we can be incredibly valuable with quick responses and turnarounds for getting people unstuck.  [45:23] Melina shares her closing thoughts. [47:29] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia. I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! [spacer height="15px"]More from The Brainy Business:

Today I am excited to introduce you to Dr. Michelle Niedziela, VP of Research and Innovation at HCD Research. She is also an editorial board member of the Neuromarketing Science and Business Association (or NMSBA) and part of the brains behind the upcoming NeuroU Conference which is taking place virtually this year, September 14-16, 2021 (and I am sure will happen in future years as well in case you are listening to this later). Michelle will talk about it in the conversation as well, but I am very excited to say that I am going to be a speaker at the conference this year, so it is definitely the time to register and come join us! In today's episode, Michelle shares her expertise in the senses – particularly smell and taste – and how important they are for brands. Ever thought about what moisture smells like? Or what scent will make people prefer one towel over the other? Listen to learn this and more in today's episode... Show Notes: [00:06] In today's episode I'm excited to introduce you to Dr. Michelle Niedziela, VP of research and innovation at HCD Research. [03:13] Michelle shares about herself, her background, and how she got into behavioral science. [05:08] The majority of her education background is more around taste and smell. Most people don't think about taste and smell too much or realize how important it is in their lives.  [06:37] She has worked in academia with rodents looking at genetics. She built her career for over ten years studying rat and mouse models of feeding behavior and genetic influences until she developed an allergy to rats and mice.  [08:16] Then she ended up taking a job as a Senior Scientist at Johnson & Johnson leading their behavioral science and innovation program for taste and smell.  [08:54] People don't really realize how important the senses are in product design and development.  [10:29] Product and brand is so much more than advertising and logos. It really is the product experience as well. You can lead people with sensory clues.  [13:18] In order to ensure consumer satisfaction and success of the product experience you really have to make sure all the senses align. Does it fit the brand? [15:24] Michelle shares how fragrances can have an effect on the product experience.  [16:24] Sensory branding is a very interesting world.  [17:40] Brand harmony can bring it all together to make sure it is creating an overall perception.  [20:03] They have a lot of different questions that come to them. They are the problem solvers that come in to help their clients.  [22:02] It is about finding the right combination of tools to uncover and meet the consumer needs.  [24:18] Michelle and her team also look at packaging and people's perception of packaging. The words, color, and texture all drive perceptions and build a picture.  [26:24] In marketing and brand strategy we feel like we need to do more and be everywhere, but then you're nothing to nobody.  [28:27] You don't want to alienate your consumer.  [29:34] Michelle shares about creating your sensory footprint.  [30:18] The larger the sensory footprint the stronger you are to grab that nostalgia. Sensory is a form of communication.  [32:44] There is a lot of interesting research out there with sensory and food science. The size, color, and weight of the plate can influence your enjoyment of it, how you rate it, and how much you eat overall.  [34:48] As long as your brand is strong enough in their understanding of what your ultimate goal is, you can increase the goal and perception, but it does require a lot of research.  [36:17] NeuroU is a FREE online event this year where they bring in experts to talk and educate about current topics. Come join us! [38:19] Melina is going to be a speaker at NeuroU this year - hooray!  [40:51] Melina shares her closing thoughts. [43:18] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Melina Palmer is founder and CEO of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. Her podcast, The Brainy Business: Understanding the Psychology of Why People Buy, has downloads in over 160 countries and is used as a resource for teaching applied behavioral economics for many universities and businesses. Melina obtained her bachelor's degree in business administration: marketing and worked in corporate marketing and brand strategy for over a decade before earning her master's in behavioral economics. A proud member of the Global Association of Applied Behavioral Scientists, Melina has contributed research to the Association for Consumer Research, Filene Research Institute, and runs the Behavioral Economics & Business column for Inc Magazine. She teaches applied behavioral economics through the Texas A&M Human Behavior Lab and her first book, What Your Customer Wants and Can't Tell You, published in May 2021. Melina joins Mitch on this episode to share her knowledge and how our brain impacts the decisions we make in business (and in life) on a daily basis.  You can also watch a video of their discussion by visiting our YouTube Channel and be sure to subscribe and support our channel! For more general information about the podcast, send an email to info@beinhakerlaw.com To follow Mitch and the podcast, go to linktr.ee/beinhakerlaw. You can subscribe and listen to episodes on Apple Podcasts, Google Podcasts, Amazon Music and most other directories. Please review us whenever possible and thanks for your continued support! Sponsorships and paid guest appearances are available. Connect with us by email or on social media. The Accidental Entrepreneur is brought to you by Beinhaker Law, a boutique business & estates legal practice in Clark, NJ. To learn about shared outside general counsel services and how to better protect your business, visit https://beinhakerlaw.com/fractional-gen-counsel/ Please support our affiliate sponsors (https://beinhakerlaw.com/podcast-affiliates/). Also be sure to visit our new podcast store (https://beinhakerlaw.com/podcast-store/) to purchase affiliate services, guest merchandise and even podcast merchandise.  Yes, we have merch! Digital Accelerant - the digital business card that generates leads. Get a custom branded digital card with information and links to all your social media, email and other information. Text LAW to 21000 to connect with us and request more details. Fetch Internet. Fetch Pro is an app that creates a secure and high-speed mobile internet connection for laptops and desktop computers. Printify - the on-demand print shop to create your own merchandise without cost or the need to house inventory. The Accidental Entrepreneur is a trademark of Mitchell C. Beinhaker. Copyright 2018-2021. All rights reserved.

How can your organization improve its marketing messaging using proven behavioral science techniques? As part of our series on Marketing & Employee Engagement this month, we were joined by Melina Palmer on our latest interview episode (#242). Melina Palmer is the founder of The Brainy Business podcast and author of “What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics”: https://amzn.to/36Rm88I. She is an expert on both marketing and behavioral economics and blends techniques from both fields in her writing and podcast.  This follow-up episode is a free-flowing Grooving Session where Tim and Kurt discuss the business applications of their discussion with Melina. This episode is best enjoyed after listening to our interview episode.  What you will learn from this episode: The science behind dopamine release. How to use rewards (incentives or lotteries) effectively to motivate employees. Why priming is one of the most underutilized marketing tools. And one of our favorite topics; why context matters when communicating a message. If you are a regular listener to Behavioral Grooves, please consider donating to our work through Patreon  https://www.patreon.com/behavioralgrooves. We also love reading your reviews on the podcast, which gives other listeners social proof that we're worth listening to! © 2021 Behavioral Grooves  Links  Melina Palmer, What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics: https://amzn.to/36Rm88I  Episode 147: Gary Latham, PhD: Goal Setting, Prompts, Priming, and Skepticism https://behavioralgrooves.com/episode/gary-latham-goal-setting-prompts/ Episode 235: Make Choice Rewarding: Behavioral Insights in Marketing with Matthew Willcox https://behavioralgrooves.com/episode/marketing-matthew-willcox/ The Willpower Instinct by Kelly McGonigal https://www.learningjourneys.net/post/the-willpower-instinct-by-kelly-mcgonigal

What does your customer want but can't tell you? What effective marketing techniques use behavioral economics? If only you had a way of understanding how your customer's brain made decisions. Well our guest, Melina Palmer sits down to discuss exactly that.  Melina Palmer is the founder of The Brainy Business, which provides behavioral economics consulting to businesses of all sizes from around the world. She also hosts a podcast, The Brainy Business, and has recently published her first book What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics: https://amzn.to/36Rm88I.  What You Will Learn From Melina Palmer  (6:23) Melina explains her book “What Your Customer Wants and Can't Tell You” (13:30) Why should we care about dopamine?  (16:26) The effectiveness of using a lottery draw (20:43) Why is priming so important in marketing?  (27:41) How Melina helps you to apply her insight  (30:59) What sparked Melina's interest in Behavioral Economics? (32:24) What is the biggest secret that customers can't tell you? (33:54) Is the marketing industry still sexist?  (34:40) The music Melina would take to survive on a desert island  If you are a regular listener to Behavioral Grooves, please consider donating to our work through Patreon https://www.patreon.com/behavioralgrooves. We also love reading your reviews on the podcast, which gives other listeners social proof that we're worth listening to! © 2021 Behavioral Grooves Links Melina Palmer, What Your Customer Wants and Can't Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics: https://amzn.to/36Rm88I  Episode 109: Melina Palmer: Using Behavioral Economics to Help Businesses: https://behavioralgrooves.com/episode/melina-palmer-using-behavioral-economics-to-help-businesses/ The Brainy Business: https://thebrainybusiness.com/  The Brainy Business Podcast: https://thebrainybusiness.com/podcast/  Melina Palmer, INC: https://www.inc.com/author/melina-palmer  Melina Facebook: https://www.facebook.com/thebrainybiz/ Melina Instagram: https://www.instagram.com/thebrainybiz/ Melina YouTube: https://www.youtube.com/c/thebrainybusiness Melina Twitter: https://twitter.com/thebrainybiz Melina LinkedIn: https://www.linkedin.com/in/melina-palmer-36ab8712/ The Brainy Buiness LinkedIn: https://www.linkedin.com/company/the-brainy-business/ BE Thoughtful Revolution: https://be-thoughtful-revolution.mn.co/share/Wwg4nTN8qVp21XB3?utm_source=manual Episode 232: Katy Milkman: How to Make Healthy Habits that Actually Last: https://behavioralgrooves.com/episode/katy-milkman-habits-that-last/ Episode 226: The Power Of Unity: Robert Cialdini Expands His Best Selling Book Influence: https://behavioralgrooves.com/episode/cialdini-unity-in-influence/ McDonald's Monopoly: A Masterclass in Promotions: https://www.talon.one/blog/mcdonalds-monopoly-a-masterclass-in-promotions  Human Behavior Lab, Certificate Program: https://hbl.tamu.edu/certificate-program/  Musical Links  Paul McCartney “Find My Way”: https://www.youtube.com/watch?v=2oSmP3GtOBk  Lady Gaga “Stupid Love”: https://www.youtube.com/watch?v=5L6xyaeiV58  John Mayer “Last Train Home”: https://www.youtube.com/watch?v=66Ne5dVDfLM  Melina's Pandora station: https://pandora.app.link/UrWQ28B6l3 

Today I am very excited to have Dr. Leidy Klotz on the show to talk about how we humans have an instinct for adding things. We want more and often don't even think about taking things away. But why is that? Why do we have adding instincts? Why are we so averse to less, and how could we see the value in it?  That is a little of what we talk about today in this conversation which centers around Leidy's new book, Subtract. It's really fascinating and more than mere minimalism. As Leidy says in the conversation, he isn't advocating that less is always better, that you never should want more. Instead, this is more focused on thinking about it; considering the benefit of less before making a choice. Plus, you get to learn about his possibly surprising first career before getting into academia!  Show Notes: [00:06] In today's episode I'm excited to introduce you to Dr. Leidy Klotz, author of the new book, Subtract. [03:30] Leidy shares about himself, his background, and how he has gotten to behavioral science.  [05:44] There is a way that people should go and then what they will actually do.   [06:34] Engineering is the creative application of science. There is a huge overlap between engineering, architecture, and behavioral science.  [08:05] People have been doing choice architecture for a long time, it has just been called marketing.  [08:44] Leidy was a professional soccer player and he wrote a book about sustainability through soccer. Soccer is a very systems-oriented sport.  [10:39] He learned a lot of things by playing soccer.   [13:32] He shares what inspired him to write his book, Subtract.  [15:04] When we encounter systems that we can improve in multiple ways, why is our first instinct to add? [16:52] When people try to improve something their first thought is to think about what can we add to this situation to make it better.  [19:01] More often than not, we don't even think about getting rid of something.  [20:52] Instead of a longer list of to-dos, we need a list of “stop doings.”  [23:07] As humans, we want to display our competence.  [25:28] We can also show competence by subtracting, we just have to do more of it for it to be noticeable.  [28:30] You can be a minimalist by not acquiring stuff, but that is not subtracting.  [29:39] Left to our own devices, we are not going to think of taking away.  [30:40] A good lesson is to subtract first. If you subtract first you are more likely to think about it in later situations.   [32:53] Less is not a loss. Less is an improvement. [34:33] We tend to think of add and subtract as opposites. They are not opposites, they are complementary ways to make a change.  [37:06] When you are arguing for subtraction or trying to get people to think of subtraction, help them think about the thing they added elsewhere.  [37:52] When we add something, we are left with the original situation plus whatever we have added. When we take something away, we are left with an improved original situation plus that thing we took away which we can use somewhere else.  [40:22] When you have written something, taking it out is a really hard thing. Leidy and Melina share some about their book writing processes.  [42:22] Melina shares her closing thoughts. [45:15] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Today I am very excited to have a fellow behavioral science podcaster, Dr. Nick Hobson on the show. His podcast is called, It's All Just a Bunch of BS. He also writes for The Behaviorist and is the chief scientist at Emotive Technologies. So, why did I say at the top of the show that this would likely show you a different side of Nick than you may have seen or heard before? It is because we really focus on philosophy, which is different than anything I've had on the show before and was a lot of fun to chat about. I must admit, in my undergrad I really hated philosophy. I'm not sure if I had a bad teacher or if I just wasn't ready for it yet, but it was one of my least favorite classes. As time has passed, I've come to realize that the types of questions I love to ask and my personal approach to applying behavioral economics are built on a foundation of philosophy. So even if you've not been a fan of the field in the past, I recommend you stick around. I think you're going to like the conversation.  Show Notes: [00:06] In today's episode I'm excited to introduce you to Dr. Nick Hobson for a fascinating conversation that even if you know Nick, I'm guessing you haven't heard him talk about on a show before. [01:13] In this episode, we really focus on philosophy, which I found to be so interesting and I hope you will too. [03:51] Nick shares a funny story about being a doctor and using it for a dinner reservation with his wife. [05:49] Nick has a doctorate degree in social psychology and social neuroscience. His dissertation was about the psychology of neuroscience and rituals.  [08:03] He was very interested in rituals and that determined the next five years of his life.  [09:45] Now he is an applied behavioral scientist.  [12:31] There is a great deal of value that comes with philosophy, the arts, and philosophical thinking.  [13:57] Good scientists are always trying to push the boundaries, explore the outer edges, and breakthrough with scientific intervention.  [16:52] We answer questions with tools of measurement. Tools of measurement are the foundation of any science.  [18:20] Nick shares about the “trolley problem.” [20:20] Nick shares how he transitioned from the space of rituals and about the work he does today.  [21:43] Behavioral scientists and all business owners are interested in the point of action that a person engages (and re-engages) in over and over. What is that decision process? [23:45] There are a lot of rituals on the external, customer-facing side, and the internal employee side as well.   [25:12] We are ritual creatures.  [26:16] Nick talks about the types of consumer projects they are working on.  [27:36] He shares a specific client scenario he worked through.  [29:16] The problem is never the price. It is about all the stuff that happens before. If you can showcase the value you are providing people will buy.  [30:25] Two areas of opportunity for improvement for his client were joy and respect. Once the areas of opportunity are discovered you can create strategic interventions.  [34:02] For all the behavior that we are looking at and observing, let's not forget about what is actually happening inside the mind, which are the precursors to those behaviors.  [35:06] Melina shares her closing thoughts. [36:54] Melina's award-winning first book, What Your Customer Wants and Can't Tell You is available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Today I am very excited to have Dr. Matt Johnson on the show to talk about the application of neuroscience and psychology to the business world. A professor, researcher, and writer, Matt received his Ph.D. in Cognitive Psychology/Neuroscience from Princeton University in 2013. His focus now is ultimately about bridging the gap between science and business, and to this end, he works across several fields including behavioral economics, consumer neuroscience, and experiential marketing. A contributor to major news outlets including Forbes, Entrepreneur, Business Insider, and VICE and writer for Psychology Today, Matt regularly provides expert opinion and thought leadership on a range of topics related to the human side of business. He advises both start-ups and large brands in his native San Francisco and has served as an expert-in-residence to Nike's Innovation Team in Portland, Oregon. Among other things today, we are going to talk about the book he co-wrote, called Blindsight: The (Mostly) Hidden Ways Marketing Reshapes our Brains. It's fascinating stuff you definitely want to listen to today! Show Notes: [00:07] In today's episode, I'm excited to introduce you to Dr. Matt Johnson, co-author of Blindsight. [01:38] Among other things today, we are going to talk about the book he co-wrote, called Blindsight: The (Mostly) Hidden Ways Marketing Reshapes our Brains. [03:30] Matt shares more about who he is and how he got into behavioral science. He has always been driven by a curiosity about why we do what we do.  [05:33] For the past five years he has been working to explore the deep connection between neuroscience and marketing.  [08:16] They started working together as neuroscientists and marketers because of the shared realization of the similarities just separated by vocabulary.  [09:06] The mind and brain are fundamentally the same entity. They really just differ in terms of the language which is used to describe it.  [10:35] It is clear that the mind and the brain have a relationship. It is not immediately obvious what this relationship is.  [11:46] It is understood at this point that the brain produces the mind.  [14:06] “If you are led to deeply believe that your chosen shoe brand makes you a better basketball player, who's to say that it doesn't?” -Matt Johnson [14:35] He is very interested in the ways the consumer world shapes our belief systems and our associations that we have given brands and products.  These shifts can actually change our experiences and our perceptions of reality.  [16:04] Each new advertisement you see of Coca-Cola has changed the brain in such a way where it changes your fundamental concept of what you are consuming and this fundamentally shifts your experience.  There is this gap between objectivity and physical reality.  [17:27] Brands and consumer experiences are such a fascinating thing to study.  [19:43] Even if you have maximum exposure to the brand, they still invest in additional advertisements because of the exposure effect. The exposure effect moves the need more to preferences.  [21:29] Red Bull has continued to expand their target market to the point that now they are speaking to each of us. They started with a narrow association strategy and expanded strategically as they went.   [23:45] It is crucial to maintain brand perception by having a consistent execution with all your brand identifiers.  [24:33] Adding in a little newness can actually increase preferences even more instead of just repeat exposure.  [25:50] Matt shares about the Cadbury Gorilla and the value of doing something unexpected.  [27:11] When your consumers come to expect a certain type of brand personality or service, giving them something totally and completely different is a fantastic way to drive attention.  [27:59] The key to grabbing attention is going against the grain.  [29:57] You have to understand what the current goals of the brand are to choose the correct strategy.  [31:28] Brands have much less control over their brand image than they ever have before so brands really need to rethink how they're constructing brand perception to begin with.  [33:23] Brands really need to adapt to this new media landscape through co-creation of the brand personality and also leaning into user-generated content.  [35:13] Matt shares his favorite tidbit from the book: psychology essentialism.  [37:13] A little story can actually go a long way. The story enhances the value of the product.  [39:31] Just like brands compete in terms of their positioning and products, they also compete in terms of their story. One of the goals of storytelling is empathy.  [40:46] We can't empathize with groups, but we empathize with individuals very easily. Ideally oriented your story to an individual will enhance the empathic response.  [42:48] Melina shares her closing thoughts. [43:55] Melina's first book, What Your Customer Wants and Can't Tell You is officially available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

I know these behavioral economics analysis episodes are very popular. The ones on Starbucks and Peloton have quickly risen through the ranks to become the third and fourth most downloaded episodes ever on the show (and as we are on the precipice of our 3 year anniversary that is a pretty big feat!). There are also analysis episodes on Apple Card, Costco, and Disney and as you know today we will be talking about Amazon.  I am so honored to announce that What Your Customer Wants and Can't Tell You is now an award-winning book! The International Book Awards were just announced and my book was a finalist in two categories. According to their website and press release, books published from January 2019 to May 2021 were eligible and there were over 2000 entries amongst the various categories.  Show Notes: [00:08] Today's episode is a behavioral economics analysis of Amazon. [01:50] I am so honored to announce that What Your Customer Wants and Can't Tell You is now an award-winning book! [03:27] In case this is your first behavioral economics analysis episode with The Brainy Business, what you can expect is a fairly rapid-fire list of things I see from Amazon where they are using tactics that tie back to concepts from behavioral economics. [06:05] And this gets to the first and possibly most important piece of behavioral science built into the entire company of Amazon, which comes back to the biggest mistake I have said time and again most businesses make when trying to implement behavioral science into their work or just working on most projects: understanding the REAL problem you are trying to solve. [06:43] Taking the time upfront to understand the behavior that needs to be changed and what might be motivating it (and on the flip side, how to make it easy for people to change) is so important to the success of Amazon. [08:28] Truly understanding the problem before jumping into a solution is incredibly important for every business. [09:01] This brings me to another cool way that Amazon thinks differently by reframing its approach to projects. Matthew Confer and I talked about this on his recent episode on The Brainy Business, and it is called the “press release method” or the “working backward” method. [10:10] This simple mental shift, framing the project differently, can help people get out of their myopic approach to what is in front of them and ask some great questions. [11:11] Reframing with the press release method can help you to ask the right questions early enough and avoid potential cataclysmic failures. [11:29] Amazon really took herding and social proof to a new level. [12:17] Star ratings, reviews, and recommendations for what other people “like us” have done before are hugely influential in getting someone to buy. [14:02] With books, they also let you overcome that additional uncertainty by reading a few pages and taking a peek inside. [14:45] The more people who use Amazon, the better it gets. There are more options to buy from, sellers are heavily influenced to keep honest and sell good stuff or they will get bad ratings. [16:04] To help overcome the loss aversion and fear of regret, Amazon makes most returns incredibly easy. [17:17] Another way Amazon makes it easy to buy is with their 1 click purchase set up. [18:54] Simplicity and reduced friction while working with the brain makes a huge difference. [19:23] It is so important to talk about the Prime membership at Amazon. Paid on an annual basis, there are lots of perks and benefits from being a Prime member, the biggest arguably being free 2-day shipping on a huge number of items. [22:27] If you create a huge amount of value that drives loyalty and other purchases and engagement and revenue, the subscription is more of a mechanism to build the habit. And, as we are seeing from Amazon, can be far more valuable than the cost of the membership. [23:26] Look for the value you can create to make it an amazing deal that people will love and want to talk about and you're likely on the right track. [24:44] If you are selling items, it may feel like you are being pushy to have the default be a subscription and let someone self-select to change to a single-time purchase, but that is all in your logical conscious brain. As long as you are creating value and helping someone get something they want and need, there is likely a great value to them in offering a subscription or membership or whatever the somewhat scary suggestion might be. [26:28] The main concepts with Prime Day are loss aversion and scarcity. Time pressure from short-term offers with limited quantities makes people overcome their risk aversion and become very loss averse. Scarcity with herding makes us feel something is a great value and want to jump on offers. [28:07] With how easily our brains get overwhelmed, it is amazing that the 200 million Prime subscribers are able to find what they need and buy it so quickly (across Amazon, half of purchases are made in 15 minutes or less). [31:17] They make an unbelievable amount of information seem almost effortless, which is an amazing feat when you think about it. [31:54] Melina's Top 3 Tips for Incorporating These Lessons: 1) You need to spend more time thinking about the problem you are trying to solve. [32:35] 2) Use social proof and herding whenever you can. [33:11] 3) Make suggestions! People don't always know what they want, so help them find their path. [34:19] Melina shares her closing thoughts.  [34:24] Melina's first book, What Your Customer Wants and Can't Tell You is officially available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business:

Today I am delighted to have Matthew Confer on the show to be share insights from (and beyond) his popular Ted Talk: Before you Decide: 3 Steps to Better Decision Making.  This talk came out before the pandemic, and Matthew also shares with us about how he and the team at Abilitie helped clients to shift through these changing times to make better decisions when there were so many unexpected shifts and choices to be made (and with a lot on the line).  As the VP of Strategy and Business Development, he definitely knows a lot on these topics and he has fascinating insights I can't wait to share with you.  Show Notes: [00:07] In today's episode I'm excited to introduce you to Matthew Confer to share the three things you need to do before you decide. [02:49] Matthew shares more about who he is and what he does. He works for a company called Abilitie and does leadership training simulations.  [04:06] They focus on three core competencies of effective leaders: people management skills, financial acumen, and strategic thinking and decision making.  [05:53] Melina shares how she did a similar simulation in college.  [08:00] Adaptability is one of the things that we want rising leaders and executives to have.  [09:16] There is a very big difference between doing and thinking about doing. [12:22] The biggest part of the simulation is that each of the participants have three time tokens of where they want to invest their time. It looks at how you piece together all the things we struggle with as leaders and make the best decision of how to use your limited time.  [15:11] From his experiences, Matthew found that there are specific traits that top teams do.   [16:18] After years of observation, he created a decision-making framework with the 3 steps for better decision-making (as showcased in his Ted Talk). Step 1) Challenge the Constraints.  [17:41] When you are looking to apply behavioral science, the spot where most people go wrong is understanding the problem that you are trying to solve.  [18:42] Time pressure is a form of stress and it changes the way we make a decision.  [20:24] Just because you challenge the constraints doesn't mean you have to go and make a crazy decision. It just helps to see what is holding you back from making this huge breakthrough.  [21:01] Step 2) Embrace a Premortem. A premortem is so powerful because you are conditioned to not think you are going to fail.   [23:44] Planning fallacy is closely tied to optimism bias where we think we are going to be faster, quicker, and better.  [25:59] 80% of us think that we are above-average drivers. He noticed this in the simulation with leaders also.  [27:10] Step 3) Check the Basics. When decisions get more complex, small details tend to get missed.  [29:39] Taking the time to make sure you have really identified your basics is super important.  [30:01] Matthew shares an example of step one: challenging the constraints. The clients he saw that were most successful during the pandemic were the ones that threw the rule book out the window.  [32:03] It is important to reframe a problem when it comes to you. If your status quo has been shifted you should not feel like you have to do what you said you are going to do before.  [32:57] Next he shares an example for step two.  [34:12] If you're not having a conversation about what could go wrong, you are really missing an opportunity to plan effectively.  You need to put plans B and C in place to get in front of some of the problems.  [35:27] You need to be assured when you are making a drastic change or big decision, make sure those small details aren't missed along the way.  [38:23] One of Matthew's favorite decision-making techniques is the “press release method”.  [40:31] Writing what someone might say about you in the worst-case scenario is an interesting practice to help keep you on track so you don't mess up because you know how bad it can be at the end.    [42:45] Melina shares her closing thoughts.  [44:37] Melina's first book, What Your Customer Wants and Can't Tell You is officially available on Amazon, Bookshop, Barnes & Noble, Book Depository, and Booktopia.  Thanks for listening. Don't forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let's connect: Melina@TheBrainyBusiness.com The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Join the BE Thoughtful Revolution – our free behavioral economics community, and keep the conversation going! More from The Brainy Business: