The Importance of Social Proof in Business

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I love that like analogy that you just put out there. You see it all the time with like, oh, Facebook gods don't work because I tried it and it didn't work. People should be able to calculate in their own brain that this is the best value. Why would I have to tell them that or you know, they shouldn't care that other people bought it. We're much more likely to lean on social proof and are hurting instincts as well as all these other biases of which I talk about in my book to make decisions.

Which product makes you more likely to buy it? A bag of chips that says, “90% Fat-Free” or a bag of chips that says, “Made With 10% Fat”? Sure, the answer seems like it’s obviously the first option, but can you explain the reasons why?

Melina Palmer can, and as a behavioral economist, she’s here to explain why we buy the things we buy in this episode from the archives. As the podcast host of “The Brainy Business; Understanding the Psychology of Why People Buy,” Melina discusses the ways science can be used to unlock the consumer decision-making process and unleash the key to your business’ success.

She and Daniel talk about how behavioral science utilizes economics, psychology, and neuroscience to reveal the secrets behind the subconscious decisions we make on an everyday basis.

Follow Melina:

Website: https://www.thebrainybusiness.com

Podcast: https://thebrainybusiness.com/why-behavioral-economics/#

Follow Daniel:

Twitter: https://www.twitter.com/Dmurr68

LinkedIn: https://www.linkedin.com/in/daniel-murray-marketing

And thanks to our episode sponsor, Retention. What do brands like Warby Parker, Dr. Squatch, Vital Proteins, and Blendjet all have in common? Retention.com is their highest-performing ROAS channel by far. Visit Retention.com to book a demo today.

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Daniel is a Workweek friend, working to produce amazing podcasts. To find out more, visit:

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