The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

406. Why We Buy w/ Patrick Fagan (Refreshed Episode)

Jul 1, 2024

Behavioral scientist Patrick Fagan discusses the psychology of effective messaging in marketing, using behavioral science to influence consumer behavior. Topics include background noises on online shopping, impact of Facebook on self-esteem, segmentation for a supplements brand, habit formation, consumer preferences, and crafting compelling marketing campaigns.

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Intro

00:00 • 3min

Exploring Behavioral Science and Real-World Applications

02:46 • 2min

Impact of Background Noises on Online Shopping Behavior

05:06 • 9min

Exploring Human Behavior and Segmentations

14:09 • 5min

Psychology of Habit Formation, Consumer Preferences, and Messaging Strategy

19:37 • 17min

Creating Meaningful Acronyms and Models

36:49 • 6min

In episode 406 of The Brainy Business podcast, behavioral scientist Patrick Fagan shares insights on the psychology of effective messaging in marketing, drawing from his extensive research and book "Hooked." Fagan's expertise lies in understanding and influencing consumer behavior, utilizing behavioral science to uncover the impact of environmental cues, social media, and psychological segmentation on decision-making processes.

Through his studies on background noises, Facebook psychology, and segmentation for a supplements brand, Fagan demonstrates the practical applications of behavioral science in marketing. His framework for effective messaging, encompassing attention-grabbing, engagement, and behavior nudges, offers actionable strategies for businesses to tailor messages to different audience segments. By listening to this episode, small business owners and marketers can gain valuable insights into consumer behavior, environmental cues, and ethical messaging strategies, empowering them to enhance consumer engagement and influence purchasing decisions effectively.

In this episode:

Understand the psychology of online shopping to optimize your e-commerce strategy.
Boost self-esteem with insights into the impact of social media on mental well-being.
Utilize behavioral science to craft compelling marketing campaigns that resonate with consumers.
Harness the influence of background noise to enhance consumer decision-making processes.
Implement effective message engagement strategies to maximize advertising impact.

Show Notes:

00:00:00 - Introduction Melina introduces Patrick Fagan, author of #Hooked, and discusses the intentionality of marketing messaging in the book.

00:02:13 - Patrick's Background in Behavioral Science Patrick shares his background in behavioral science, including his research on music priming for online shopping and the effects of background noises on purchasing behavior.

00:07:15 - Facebook Psychology and Facial Expressions Patrick discusses his research on Facebook psychology, which found that the platform can impact self-esteem and loneliness. He also shares insights on using facial expressions to measure engagement and boredom.

00:10:23 - Current Projects and Interests Patrick shares his current interest in understanding behavior and influence, focusing on psychology and behavior segmentation. He highlights a recent segmentation project for a supplements brand, which identified five different types of people with respect to health and nutrition.

00:14:43 - Conclusion and Future Focus Patrick emphasizes his passion for understanding people's behavior and motivation, highlighting the importance of psychology and behavior segmentation over traditional demographics and attitudes. He expresses excitement for future projects in this area.

00:15:13 - Understanding Different Motivations Patrick discusses the different motivations people have for health and fitness, including diet, appearance, achievement, and reassurance. He highlights the importance of tailoring messages to different groups based on their motivations.

00:21:43 - The Power of Habits Patrick and Melina delve into the influence of habits on behavior, particularly in the context of fitness. They discuss how habits can impact people's reasons for exercising and how triggers can influence their decision to engage in physical activity.

00:24:44 - Traditionalism and Progressivism Patrick shares his research on traditionalism and progressivism, revealing that a significant proportion of people are motivated by a desire to return to the past rather than just conserving or progressing. He discusses the implications of this finding for businesses in terms of messaging and branding.

00:27:53 - Applying Psychology to Marketing Patrick and Melina explore how businesses can utilize psychological insights to tailor their marketing strategies. They discuss the importance of understanding customer mindsets and motivations, and how businesses can use this knowledge to communicate effectively with their target audience.

00:29:45 - The Three Steps of Effective Messaging Patrick outlines the three crucial steps for creating effective messages: grabbing attention, engaging the audience, and nudging behavior. He emphasizes the significance of understanding the brain's response to certain stimuli and leveraging this knowledge in crafting compelling messages.

00:30:14 - Attention-Grabbing Factors Patrick discusses the importance of paying attention to things like kids, faces, emotions, surprise, and personal elements in grabbing attention.

00:31:58 - Engaging Emotionally Engaging people through curiosity, stories, and fluency is discussed. Using puzzles, riddles, and stories can help people engage and remember information more effectively.

00:34:06 - Nudging Behavior Patrick talks about the use of priming, memory, motivation, and relevance to nudge behavior. Emotions and relevance play a significant role in motivating people to act.

00:36:45 - 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.

I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.

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