The Power of Personalized Gifts

18min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

This chapter explores the art of gift-giving in business and highlights the impact of personalization on increasing reciprocity. It discusses a study where a small packet of sweets accompanying a donation request resulted in a higher compliance rate. The chapter emphasizes the importance of tailoring gifts to the recipient's preferences and needs.

Robert Leonard chats with Dr. Robert Cialdini to discuss his book Influence, New and Expanded: The Psychology of Persuasion.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:17 - What influence is and why there is so much psychology in persuasion.

07:37 - What the levers of influence are.

27:36 - How the world of digital business is impacted by influence.

32:06 - What makes our cell phones addicting?

36:12 - How do we spot phony online reviews and why this is important?

39:49 - Why personalizing gifts increases the returns of gifts.

47:13 - Which psychological principle Coca-Cola missed that led to a disastrous marketing decision?

48:50 - Why Amazon offers to pay each of its fulfillment employees up to $5,000 if they quit?

54:56 - The question can job candidates ask at the start of an interview to increase their chance of success.

58:49 - What the unity principle of influence is.

And much, much more!

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Robert Cialdini’s Book Influence, New and Expanded: The Psychology of Persuasion.
John Rulin’s Book Giftology.
Gary John Bishop’s book Do the Work.
Lewis Howes’ book The School of Greatness.
Scott Young’s book Ultralearning.

NEW TO THE SHOW?

Check out our Millennial Investing Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.
Check out all the books mentioned and discussed in our podcasts here.