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PODCAST

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Consumers are weird. They don"t do what they say they will do and don"t act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you"re a small business or thriving corporation,

business marketing

All Episodes

39:00

291. The Secret Sauce of Effective Decision-Making...

The Brainy Business | Understanding the Psychology of... ·

2023/05/26

In order to design effective solutions, businesses need to have a clear understanding of the different types of decisions their customers make. Not all decisions are created equal, and handling them differently ensures better outcomes. Companies should avoid applying a one-size-fits-all approach, instead aiming for a tailored response that addresses the specific needs of each consumer decision. By having a better grasp of decision-making processes, businesses can create products, services, and

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54:53

290. Finding Balance in a Distracted World: Nir...

The Brainy Business | Understanding the Psychology of... ·

2023/05/23

Dealing with distractions is a common challenge that many professionals face in their everyday lives. Traction (the opposite of distraction) is the force that drives us towards our goals and objectives, keeping us focused on the tasks that really matter. In order to combat distractions, it's vital to create a plan that outlines the necessary steps for achieving success. This includes setting clear objectives and breaking down goals into manageable tasks, while also allocating specific time for

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34:27

289. The Art of Behavioral Storytelling: How David...

The Brainy Business | Understanding the Psychology of... ·

2023/05/19

In today's fast-paced world, attention spans are shorter than ever. By making stories concise, engaging, and to the point, marketers can cater to the needs of overwhelmed audiences while still delivering powerful messages. Short stories leave out unnecessary details while retaining the most critical elements, ultimately making them more memorable and easier to digest. David Paull considers short stories to be particularly useful tools in marketing and communications. He cites the popularity of TED

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53:19

288. Empathy, Storytelling, and Success: A...

The Brainy Business | Understanding the Psychology of... ·

2023/05/16

Stories have a tremendous impact on the way we perceive the world and make decisions. They are deeply rooted in our human nature and can be incredibly effective for marketing and brand strategy. Utilizing storytelling in marketing creates an emotional connection with the audience, which is integral for influencing decisions and shaping behavior. Stories have a unique ability to captivate attention, evoke emotions, and create a sense of empathy with the characters, all of which are powerful tools for

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50:01

287. Unlocking the Microstress Mystery with Dr. Rob...

The Brainy Business | Understanding the Psychology of... ·

2023/05/12

The manner in which we communicate plays an essential role in contributing to or easing microstress. With the proliferation of remote work and numerous communication channels, it is vital to be mindful and intentional in our communication with colleagues and acquaintances. Establishing positive communication norms can alleviate microstress and create a more collaborative and productive work environment. Rob Cross highlighted the need for thoughtful communication in his conversation with Melina

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45:57

286. Beyond 'If Only': Maximizing the Benefits of...

The Brainy Business | Understanding the Psychology of... ·

2023/05/09

Counterfactual thinking (when we mentally "undo" events that have already happened and imagine different outcomes) can contribute to personal and professional growth when applied constructively. This type of thinking is closely related to prefactual thinking, which involves imagining future scenarios, alternatives, and opportunities. Both types of thinking can aid in regulating behavior, problem-solving, and goal setting, ultimately contributing to improved performance and success in life and

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46:46

285. Bringing Behavioral Economics to the...

The Brainy Business | Understanding the Psychology of... ·

2023/05/05

In this episode of the Brainy Business podcast, host Melina Palmer interviews Carlos Hoyos, a behavioral scientist and content creator from Latin America. They discuss the challenges of creating content in a non-English language and the importance of making behavioral science accessible to a wider audience. Hoyos shares his approach to creating content, including his YouTube channel, Behavioral Pills, and his e-learning platform, which offers one-hour sessions on various behavioral science

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48:24

284. What is Habit Weekly? Featuring Creator Samuel...

The Brainy Business | Understanding the Psychology of... ·

2023/05/02

In this episode of The Brainy Business podcast, host Melina Palmer interviews Samuel Salzer, founder of Habit Weekly, a newsletter that curates the latest in behavioral science research and news. Salzer discusses the importance of creating content that people actually want (imagine that!) and the value of putting good things out into the world. He also shares insights on building habits and behavior change, and how businesses can apply these principles to their marketing and customer engagement

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45:29

283. Why Every Business Needs To Care About Personal...

The Brainy Business | Understanding the Psychology of... ·

2023/04/28

In today's conversation, I am joined by Dr. Merle van den Akker. Merle is a behavioral scientist who has recently completed a Ph.D. at the Warwick Business School, studying the effect of different payment methods on personal finance management. She decided to leave academia to apply behavioral insights in the real world and has become a behavioral science manager at a financial well-being unit in an Australian bank. She continues to research and apply behavioral science to improve financial services

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46:49

282. Mental Accounting: Are You Doing It Right?...

The Brainy Business | Understanding the Psychology of... ·

2023/04/25

You’re likely familiar with accounting, so perhaps you can gather that mental accounting is essentially about how we account for things in our mind. But, you may not realize that it isn’t just mental math. This is about how we tend to create separate accounts for things in our minds that feel concrete, but often aren’t. When I give examples in this episode today, which originally aired in the summer of 2019, you are going to find yourself saying, “Well, obviously that is how it works!” And then when

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53:10

281. Outsmart Your Brain with Dan Willingham

The Brainy Business | Understanding the Psychology of... ·

2023/04/21

In today's conversation, I am joined by Dr. Dan Willingham, a memory expert with a Ph.D. in Cognitive Psychology from Harvard. Dan’s new book Outsmart Your Brain (which we discuss today) will change your life. While the book is catered to K-16 learners (for example, it includes chapters on “how to take notes,” “how to listen to a lecture,” “how to read hard books,” and “how to take tests”) trust me when I say this book is for you and everyone you know. It is fascinating and will help you with any

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34:11

280. Memory Biases: Don’t Forget To Listen!...

The Brainy Business | Understanding the Psychology of... ·

2023/04/18

Memory is a funny thing. We like to think we have these perfect pictures of what really happened in our minds waiting to be retrieved in pristine condition, but that’s not at all how it works. It turns out we have all sorts of biases that, well, bias our memories. And that is important to know in our interactions with other people in life and business. The truth is: you can remember something completely different from someone else, and neither of you has to be wrong. Let me say that again, even if

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59:08

279. Creating an Irrational Loyalty Program at...

The Brainy Business | Understanding the Psychology of... ·

2023/04/14

In today's conversation, I am joined by McDonald’s Lauren Kemp and Stephen Springfield from the Aspen Center for Consumer Science. Last fall I saw them give a talk at IIEX Behavior on how they used behavioral science to create an "irrational" loyalty program at Mcdonald's. It was instantly clear they had to be on the show to talk about this project, its insights, and what you can learn from it. It is such a great case study showing how real people inside organizations (and in this case, working with

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40:01

278. How Starbucks Leverages Behavioral Economics...

The Brainy Business | Understanding the Psychology of... ·

2023/04/11

As a Seattle girl, I love me some Starbucks so it is fun to refresh this episode which was one of the first (and most popular) behavioral economics analysis episodes I’ve ever done. It is currently the 11th most downloaded episode of the show of all time, and with 277 episodes to date, that is a pretty big deal! If you aren’t familiar with this format, it is an episode where I talk about a well-known company and their practices to share what concepts from behavioral economics and behavioral science

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54:16

277.The Human Experience with John Sills

The Brainy Business | Understanding the Psychology of... ·

2023/04/07

In today's conversation, I am joined by John Sills. John is Managing Partner at the customer-led growth company, The Foundation. He’s been in front-line teams delivering the experience, innovation teams designing the propositions, and global HQ teams creating the strategy. He's been a bank manager during the financial crisis (which he says was not fun), launched a mobile app to millions of people (very fun), and regularly visits strangers’ houses to ask very personal questions (incredible fun). He

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45:22

276. Surprise! It’s Delightful (And Drives Loyalty)...

The Brainy Business | Understanding the Psychology of... ·

2023/04/04

Today’s episode is all about surprise and delight. Hopefully, the title concept of this episode already has you in a happy and delightful mood (that’s priming for you!) and you are ready for some fun. I love thinking about experiences and incorporating fun, delightful moments. It can be with customers or employees and in totally unexpected places (that is the best strategy) like an error page of a website or the legaleze people agree to. Little moments of thoughtfulness are my favorite, and they

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46:46

275.The Illusion of Choice with Richard Shotton

The Brainy Business | Understanding the Psychology of... ·

2023/03/31

In today's conversation, I am joined by Richard Shotton. His first book, The Choice Factory, is a best-selling book on how to apply findings from behavioral science to advertising. His new book, The Illusion of Choice: 16 ½ Psychological Biases that Influence Why We Buy, is a phenomenal add to what he has already contributed to the field of behavioral science. This book (and conversation!) are both full of great examples from traditional academic research and from practical application. And, one of

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54:39

274. Reducing Business Friction: Understanding The...

The Brainy Business | Understanding the Psychology of... ·

2023/03/28

Today I welcome Roger Dooley to The Brainy Business podcast for a refresh of our conversation about his book Friction. Featuring this discussion was inspired by Richard Shotton's new book The Illusion of Choice, which has one chapter about “making it easy” and then another on “making it difficult” (and you’ll hear all about it on Friday). This perfectly aligns with Roger’s book, Friction, which is all about understanding the psychology of friction and how it can be used to optimize customer

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54:06

273. Mixed Signals: How Incentives Really Work, with...

The Brainy Business | Understanding the Psychology of... ·

2023/03/24

In today's conversation, I am joined by Dr. Uri Gneezy. Uri's research focus is on putting behavioral economics to work in the real world, where theory can meet application. He is looking for basic research as well as more applied approaches to topics like incentives-based interventions to increase good habits and decrease bad ones, Pay-What-You-Want pricing, and the detrimental effects of small and large incentives. In addition to the traditional laboratory and field studies, he currently works

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48:41

272. iNcentives: The “N” in Behavioral NUDGES...

The Brainy Business | Understanding the Psychology of... ·

2023/03/21

Today’s episode is all about iNcentives, specifically as they pertain to the concept of NUDGES. This episode first aired as part of a 7-part series I did on NUDGES back in 2019. Why seven parts? Well, “NUDGES” is an acronym for the six types of nudges as introduced by Thaler and Sunstein: iNcentives (which is a bit of a fudge to make it work, but we all forgive them), Understand Mapping, Defaults, Give Feedback, Expect Error and Structuring Complex Choices. That original series included one episode

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551 results

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