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Is This Common Pricing Mistake Costing You Sales?

If you have an ecommerce site, how often do customers visit – often after a costly paid click – and end up leaving without buying? Are abandoned shopping carts all too common? Or, if your customers visit your retail store, how often do you see them compare several items, only to buy none of them [...]

Six Characteristics of Highly Persuasive Stories

One of the toughest persuasion tasks is convincing a jury in a courtroom. Car salespeople have it easy by comparison – they control the environment and have the undivided attention of the customer. Imagine if you were in a Lexus showroom listening to why you should buy one of their vehicles, and at your elbow [...]

Thinking, Fast and Slow

Book Review: Thinking, Fast and Slow by Daniel Kahneman Scientists love to divide human thinking into two parts: right brain vs. left brain, rational vs. emotional, conscious vs. subconscious, and no doubt many others. Daniel Kahneman, Nobel Prize winner in Economics, proposes a simple split to explain much of human behavior: fast vs. slow. He [...]

Santorum’s Test, and Why Conflict is Good

Rick Santorum, as most people now know after his surprisingly strong finish in the Iowa caucuses, is one of the of candidates seeking the Republican presidential nomination. Recently, Santorum responded to a question about who he’d place in key administration roles and made a comment that so far has received little attention: I had actually [...]

The Rivalry in Your Customer’s Brain

Decisions aren’t linear conclusions – they are often a battle of competing interests in the consumer’s brain. Marketers need to identify some of these rivals and back a winner with their advertising.

Nudge by Thaler and Sunstein

Nudge is all about choice architecture, a discipline which structures choices in a way that produces the most beneficial outcome. I don’t have to tell Neuromarketing readers that humans often behave in conflict with the traditional economist’s view of rational decision-making. Thaler and Sunstein not only provide plenty of evidence of irrationality, but they show how to avoid some of the problems it causes.

Choice Fatigue

Your brain gets tired, and one fatiguing activity is making choices. Various studies show that as people make more decisions, their subsequent decisions are rushed or they don’t decide at all. One study, by Ned Augenblick and Scott Nicholson of Stanford, analyzed voting patterns in a California county. They found that the lower on the [...]

Secrets of the Moneylab

Book Review: Secrets of the Moneylab: How Behavioral Economics Can Impact Your Business by Kay Yut Chen with Marina Krakovsky Economics can be dry stuff – remember “macro,” “micro,” and supply/demand curves? Fortunately, Secrets of the Moneylab is a lot more fun than Econ 101 because it focuses not on theory but on how people [...]

Scary Thought: A Treatment for Impulse Buying

Here’s a thought that would terrify many marketers… what if consumers prone to impulsive behavior decided to take a pill to quiet those impulses? While clearly lack of impulse control is a serious issue for some individuals and can lead to extreme behavior, marketers of everything from checkout lane mints to Porsches depend to some [...]

You Are What You Choose

Based on the title and cover art, which shows a head stuffed with objects, I anticipated that You Are What You Choose would be chock full of decision-making insights based on neuroscience and behavioral research. Instead, de Marchi and Hamilton mostly talk about their TRAITS system for categorizing individuals and then predicting subsequent behavior.

« Older Entries

Is This Common Pricing Mistake Costing You Sales?

Six Characteristics of Highly Persuasive Stories

Thinking, Fast and Slow

Santorum’s Test, and Why Conflict is Good

The Rivalry in Your Customer’s Brain

Nudge by Thaler and Sunstein

Choice Fatigue

Secrets of the Moneylab

Scary Thought: A Treatment for Impulse Buying

You Are What You Choose

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