Any combination of neurons, nudges, heuristics and psychographics are enough to terrify most marketers. Yet, Psychology and Behavioural Economics offer some of the best opportunities for the advancement of Digital Marketing.
However, the material can often be a little dry and difficult to take on in the middle of the day. So that’s why we have pulled together a few talks from different behavioural economists and Psychologists that will allow you to get a grip on subject
Dan Ariely is an Israeli American Professor of Psychology and Behavioural Economics. In the video above, he delves into human motivation and how you can increase motivation. Professor Ariely’s main thought is that humans are all “predictably irrational”, meaning that consumers are systematically irrational (i.e. make sub-optimal choices), yet they are also predictable in their irrationality. This predictable irrationality offers a great opportunity for marketers. Whilst the video offers a nice introduction to behavioural economics and “predictable irrationality”, its not quite as good as reading the book. The book Predictably Irrational: The Hidden Forces that Shape Our Decisions offers great insight into how the theory works (and this blog post http://brandgenetics.com/predictably-irrational/ gives you a breakdown of the key points)
The Vice-Chairman of Ogily & Mather UK and the Spectators “Wiki Man”, is not known for mincing his words. But his approach to Behavioural Economics adds a lot of charm and wit to a subject that has the potential to be a little dull. Here, Rory talks about how we can often be blinded by money and miss smaller, simpler fixes that could have a huge impact. There are lots more videos and interviews with Rory on the web (two of the best being Perpective is everything and The Flawed Dominance of Economics) but you can also follow Ogilvy Change as they bring together the best Behavioural Economics and Psychology news each the month.
You can’t really talk about Psychology on the web without the web psychologist. Coming from a Web Design background means that Nathalie’s work is very web focused, meaning that her book and videos come with a lot of takeaways for little time spent watching. The video above goes into detail on how you can use psychological principles and theories to increase conversions, click through and how people think about your brand. For more from Nathalie, try her book Webs of Influence or her podcast The Good, The Bad and The Dirty in which she talks Psychology and Behavioural Economics with the experts.
The audience is everything, but we often don’t really think about how we can find out more about them. Here Mike King uses demographics and data with Psychology in order to segment and understand an audience. King offers one of the most robust audience profiling models available, which can be a little intimidating. Even taking a few points from the video can be key (enabling audience demographics on Analytics, setting up “audience questionnaires”) but there is plenty more information available including the Persona Driven Keyword Research Process, a Mozinar talking about Understanding your Audience using Social Media and a moz post discussing how to pull audience information http://moz.com/blog/personas-understanding-the-person-behind-the-visit
Ok. Been enjoying the Psychology and Behavioural Economics pieces? How about some Neuromarketing? Neuromarketing is a relatively new discipline that uses Neuropsychology to support marketing decisions. Graeme Newell helps to highlight some of the key points behind Neuromarketing and why certain things work. Once you are done with this video you may be interested in Roger Dooley’s book Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing.
Excited about how you are going to use Behavioural Economics, Psychology and Neuromarketing? Well here is a video from Craig Sullivan to bring you back down to Earth. Craig has spent most of his career optimising everything and so offers some great insight into how you use the above theories day to day. Here, he gives practical advice on how to optimise your site using techniques that reflect your audience.
There is a huge number of resources on the Internet and beyond when it comes to Psychology, Behavioural Economics and Neuromarketing. Here is a brief list to keep you going:
Image Credit – Allan Ajifo – www.aboutmodafinil.com – Creative Commons Attribution 2.0 Generic