Understanding Individual Differences in Consumer Behavior

In this episode of The Brainy Business podcast, Melina Palmer engages in an insightful conversation with Madeline Quinlan, a behavioral scientist and co-founder of Salient, a consultancy bridging the gap between academic insights and practical applications of behavioral science. Madeline shares her journey from finance to behavioral science and discusses the importance of reframing failures as opportunities for learning and growth. With a focus on the intersection of finance and psychology, Madeline reveals how unexpected outcomes can lead to deeper insights into human behavior and decision-making.

Throughout the discussion, Melina and Madeline explore the significance of understanding the right problem before applying behavioral science interventions and the value of piloting initiatives to ensure effectiveness. They also explore the role of qualitative and quantitative research in validating behavioral strategies, emphasizing the need for a more personalized approach to behavioral interventions.

In this episode:

• Discover how unexpected results can provide valuable insights and opportunities for growth.
• Understand the importance of addressing the right problem in behavioral science applications.
• Explore the balance between qualitative and quantitative research in behavioral interventions.
• Learn about the potential of personalization in behavioral science through data and technology.
• Gain insights into the founding and mission of Salient and the Global Association of Applied Behavioral Scientists (GAABS).

00:00:00 - Introduction Melina introduces Madeline Quinlan, co-founder of Salient, and her background in finance and psychology. Maddie shares her journey and the inspiration behind co-founding Salient.

00:05:45 - Discovering Behavioral Science Maddie discusses her transition from finance to behavioral science and the pivotal moment when she discovered the intersection of finance and psychology.

00:10:30 - Founding Salient Maddie shares the story of founding Salient while pursuing her master's at the London School of Economics and the importance of bridging the gap between academic insights and practical applications.

00:15:22 - Innovative Projects Maddie highlights some of her favorite projects, including a collaboration with Nest Insight to encourage self-employed individuals in the UK to save for their pensions through innovative message framing techniques.

00:22:15 - The Importance of Testing Maddie and Melina discuss the importance of rigorous testing in behavioral science and the value of learning from both successes and failures.

00:30:45 - Embracing Failures Maddie shares insights from her master's thesis on mindfulness meditation and temporal discounting, emphasizing the importance of embracing failures and unexpected results in research.

00:40:30 - The Future of Behavioral Science Maddie discusses the future of behavioral science, including the potential for personalized interventions and the importance of maintaining a human-centered approach.

00:50:15 - 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. 

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Check out and get your copies of Melina’s Books. 

Get the Books Mentioned on (or related to) this Episode:

• Indistractable, by Nir Eyal
• Your Future Self, by Hal Hershfield
• Work Well, Play More, by Marcey Rader
• Good Habits, Bad Habits, by Wendy Wood
• How to Change, by Katy Milkman

Top Recommended Next Episode: Optimism Bias (ep 34)

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• Dominic Packer Interview (ep 178)

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