Modern Wisdom

#592 - Richard Shotton - 8 Fascinating Psychological Biases

Feb 20, 2023

Richard Shotton, a behavioral scientist and author, explores how our irrational brains influence consumer behavior. He shares marketing secrets to combat choice paralysis and highlights IKEA's unique strategies for success. Listeners learn about the importance of psychological biases, like the IKEA effect, and how storytelling can enhance engagement. Richard also discusses how the perception of effort and convenience shapes our choices, using compelling examples from advertising. This conversation uncovers fascinating insights into the art of persuasion.

01:40:36

Creator website

Episode guests

Richard Shotton

Highlights

AI Chapters

Episode notes

Empower through Choice

00:37

Decrease friction instead of focus on motivation. Complex system, people follow patterns.

01:01

Uncertain rewards and loyalty schemes how to make a habit last

02:16

Identifiable Victim Affect

01:37

Intro

4min

Unlocking Behavioral Science

19min

The Power of Perception in Marketing

27min

Understanding Consumer Behavior Through Variable Choice Rewards

2min

Harnessing Psychological Principles in Advertising

4min

Psychological Insights in Marketing Strategies

3min

Harnessing Psychological Biases in Marketing

20min

The Power of Visualization and Storytelling in Consumer Behavior

3min

The Art of Engaging Storytelling

17min

10.

Reflections on Insights and Future Discussions

2min

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

This might not be news to you, but the human brain isn't designed to be rational. There are cheat codes to get the brain to believe strange things, do strange things and change in ways you might not anticipate. Richard has one of the best insights into this world of mental models, psychology, consumer behaviour, principles for advertising and social change.

Expect to learn the marketing secret about behaviour change that everyone forgets about, how to make habit formation absolutely seamless, why IKEA is so successful even though they don't make your furniture, a hack that any advertising campaign can use to make it stick in people's minds, how to fix the problem of choice paralysis and much more...

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