The Inversion Immersion Equation Is Contagious

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

I think the most interesting thing about immersion is that it's contagious so we have a client in the luxury retail space that measures immersion in the salespeople. They can predict with 80 some percent accuracy which customers will buy based on the immersion shared by that salesperson just like crying at movies is that shared emotion. The amount of money spent increases linearly with immersion so it's like yeah if we're having a great time at the store you're probably going to buy more so and it's also the 80-20 rule thing right we're like 20 percent of the employees who are responsible for 80 percent of salesLike what are they doing figure that little mystery out and they give me more power.

The world is rapidly transforming into an experience economy as people increasingly crave extraordinary experiences. Experience designers, marketers, entertainment producers, and retailers have long sought to fill this craving. Paul Zak says there’s a scientific formula to consistently create extraordinary experiences, and that the data show that those who use this formula increase the impact of experiences tenfold.

Shermer and Zak discuss: neuroeconomics, neuromanagement, and neuromarketing • Zak’s work with the CIA and DARPA • immersion and how is it quantified (with a formula) • monotony of the mundane • the ordinary and extraordinary • peak-end storytelling • immersion in advertising, entertainment, education, attractions, and retail • what makes a great movie or successful unscripted TV show • novelty • sensitivity training programs in universities and corporations • how to give a TED talk • immersion and political candidates • marriage and immersion • The Bachelor: Ben’s season • happiness, flourishing, meaningfulness, purposefulness and immersion.

Paul Zak is a professor of economics, psychology, and management at Claremont Graduate University. He is ranked in the top 0.3 percent of most-cited scientists with over 170 published papers and more than 18,000 citations. He helped start several interdisciplinary fields, including neuroeconomics, neuromanagement, and neuromarketing. Paul is a regular TED speaker, four-time tech entrepreneur, and corporate consultant. He frequently appears in the media, including Good Morning America, the BBC, NBC’s The Today Show, CNN, and Fox & Friends. His groundbreaking research has been reported in the New York Times, Wall Street Journal, Time, The Economist, Scientific American, Forbes, and many other publications.