Modern Wisdom

#091 - Richard Shotton - Some Very Important Effects In Advertising

Aug 5, 2019

In this discussion, behavioral scientist Richard Shotton, founder of Astroten and author of 'The Choice Factory,' explores the fascinating overlaps between behavioral science and marketing. He reveals why restaurants avoid using £ signs to improve perception and examines how longer wait times can boost customer willingness to buy. Shotton also discusses the impact of payment methods on spending memory and dives into using imperfections in branding to foster consumer trust. His insights are both humorous and thought-provoking, packed with real-world examples.

01:10:25

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Episode guests

Richard Shotton

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Episode notes

Intro

2min

Embracing Imperfection in Branding

23min

The Psychology of Payment Methods

4min

The Wild West of Nightlife Promotion and Social Proof

2min

The Power of Perception in Advertising

11min

The Psychology of Age and Consumer Behavior

21min

The Psychology of Pricing and Perception

5min

The Clever Marketing of Julius Caesar: A Lesson in Perception

3min

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

What is the reason that restaurants don't put £ signs in front of their prices? Why do marketing campaigns with huge flaws end up winning the market over? How does increasing wait times on comparison sites improve customer buy-in? And why do budget airlines reduce quality of experience to improve trust?

We're talking all things behavioural science today. One of my favourite topic areas with a fascinating guest, this episode is absolute gold and packed with great concepts and hilarious real world examples. Do not sleep on this one.

Extra Stuff:

Follow Richard on Twitter - https://twitter.com/rshotton

Buy Richard's Book - https://amzn.to/2YCQfdt

Buy Richard's Online Course - https://www.42courses.com/courses/behavioural-science-for-brands

Listen to Rory Sutherland on Modern Wisdom - https://podcasts.apple.com/gb/podcast/049-rory-sutherland-psychology-in-the-world-of-advertising/id1347973549?i=1000428600578

Check out everything I recommend from books to products and help support the podcast at no extra cost to you by shopping through this link - https://www.amazon.co.uk/shop/modernwisdom

Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me...

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