Future Proof
Unveiling the power of behavioural science in marketing: A deep dive with Richard Shotton
Sep 26, 2024
In this engaging discussion, Richard Shotton, author known for his insights on consumer behavior, and Dr. Nicki Morley from Kantar dive into the transformative potential of behavioral science in marketing. They explore how biases shape consumer choices and the importance of data-backed strategies. The duo also highlights the role of social identity in purchasing habits, offering tips for sustainable branding. Featuring real examples, they emphasize balancing established insights with innovative approaches to connect with diverse audiences.
27:26
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Quick takeaways
- Understanding key behavioral biases enables marketers to adapt strategies like pricing and messaging for effective consumer engagement.
- Successful advocacy for sustainable products requires balancing environmental benefits with appealing attributes that resonate more with consumers.
Deep dives
The Impact of Behavioral Science on Marketing Strategies
Behavioral science plays a critical role in shaping effective marketing strategies by examining how people make decisions and what influences their behavior. Richard Schotten emphasizes that marketing aims to change consumer behavior, making the principles of behavioral science relevant and robust. By understanding key behavioral biases, marketers can adjust pricing, promotions, and messaging to better resonate with customers. For example, Schotten demonstrated the effectiveness of personal responsibility in blood donation campaigns, resulting in a significant increase in response rates by targeting local communities rather than broad national appeals.
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