Modern Wisdom

#626 - Richard Shotton - 8 Psychology Hacks Behind The World’s Biggest Businesses

May 11, 2023

Richard Shotton, a behavioral scientist and founder of Astroten, discusses the fascinating ways psychological principles drive consumer behavior. He reveals powerful words that enhance persuasion and how small commitments can lead to bigger decisions. Shotton dives into the 'red sneakers effect,' explaining how breaking conventions can elevate brands. He highlights the peak-end rule, emphasizing that memorable experiences shape lasting impressions. Learn how language framing and authority impact our choices, showcasing the subtle manipulation behind marketing.

01:28:32

Creator website

Episode guests

Richard Shotton

Highlights

AI Chapters

Episode notes

The Power of Consistency and Fairness in Influencing Behavior

02:01

The Ethics of Pricing Tactics in Business

01:40

Introducing a high-end item can shift consumer behavior

01:49

The Power of Perception in Discounts and Marketing

01:29

Intro

5min

Understanding Value Neglect and Marketing Psychology

5min

Psychological Strategies for Engaging Content and Pricing

5min

Psychological Pricing Strategies

21min

The Power of Framing and Perception

28min

The Psychology of Authority in Communication

4min

The Red Sneakers Effect in Branding

14min

The Peak-End Rule in Customer Experience

8min

Creating Memorable Experiences: The Peak-End Rule in Dining

3min

Richard Shotton is a behavioural scientist, Founder of Astroten and an author.

Humans are predictably irrational. By studying these behaviours through clever techniques, advertisers and marketers have been able to boost sales and influence you in ways you might not realise or expect. So it's pretty important to discover how you're being manipulated.

Expect to learn what are the most powerful words in persuasion, which human biases are over tested & overrated, how a small commitment can be the beginning of a huge commitment, which hacks make advertising campaigns stick in people’s minds, how to overcome the problem of analysis paralysis, how to change everything someone believes whilst changing nothing they experience and much more...

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