Future Proof
39. How behavioural science can drive commercial innovation
Sep 27, 2023
Rory Sutherland, Vice Chairman at Ogilvy, discusses the opportunities and issues surrounding behavioural science, including the importance of commercial innovation, addressing anti-social behavior, the power of behavioural science thinking, and brand partnerships in reducing costs and increasing advertising efforts.
24:18
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Quick takeaways
- Behavioral science can unlock commercial innovation and understanding consumer behavior.
- Collaboration between competitors and exploring unique opportunities can drive innovation and differentiation in marketing.
Deep dives
The Value of Behavioral Science for Marketers
Rory Sutherland discusses the challenge of convincing marketers and innovators about the value of behavioral science. He highlights that creating a new market is slow and difficult, taking about 10 years. He criticizes the marketing services industry for prioritizing money-making solutions over what adds value. Sutherland emphasizes the importance of budget allocation for activities like auditory branding, brand partnerships, and behavioral science, as they are often neglected despite their potential value. He argues that behavioral science contributes to understanding consumer behavior and can be valuable for commercial innovation.
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