The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics
Melina Palmer
Consumers are weird. They don't do what they say they will do and don't act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you're a small business or thriving corporation, Melina's tips can help your business increase sales and get more customers.
Episodes
Mentioned books
Sep 11, 2024 • 51min
427. The Mentorship Mindset: Nobel Insights with Dr. Bob Lefkowitz
Dr. Bob Lefkowitz, a Nobel Prize-winning professor at Duke University, shares his remarkable journey in medical research. He emphasizes the crucial role of mentorship, spotlighting his relationship with fellow laureate Brian Kobilka. Dr. Lefkowitz discusses the importance of focus, storytelling, and asking insightful questions in both science and business. He offers practical advice on balancing determination with strategic thinking, ensuring that listeners gain valuable insights into fostering creativity and navigating professional challenges.
Sep 9, 2024 • 39min
426. Defaults Uncovered: The Hidden Influences on Our Choices (Refreshed Episode)
Defaults are everywhere, shaping our decisions in ways we often overlook. Melina Palmer unveils the concept of status quo bias, showing how it nudges us to stick with default options, even when better choices exist. Practical examples, like retirement savings and organ donation, reveal the power of thoughtful choice architecture. The discussion highlights ethical considerations in creating defaults and the responsibility to guide beneficial behavior. Embracing change through focusing on a single habit can lead to positive personal transformation.
Sep 4, 2024 • 41min
425. Decisions Over Decimals: Insights from Christopher Frank
Christopher Frank, Chief Client Officer at PSB Insights and former executive at American Express and Microsoft, shares his expertise on decision-making in a data-rich environment. He highlights the power of asking the right questions to better understand complex issues. Christopher discusses the integration of data analytics and intuition, introducing the concept of 'quantitative intuition.' Listeners learn how to foster a culture that embraces data-driven decisions and the importance of context in interpreting data for strategic growth.
Sep 2, 2024 • 49min
424. Mastering Project Scoping with Questions: Insights from Mars w/ Beatrix Daros (Refreshed Episode)
Beatrix Daros, an expert in leveraging behavioral economics, discusses enhancing project outcomes through the power of questions. She highlights the balance between technology and genuine human connections used in her work with Mars’ KIND brand. The conversation dives into global snacking habits and cultural perceptions of health, as well as the innovative use of virtual reality for consumer testing during the pandemic. Beatrix shares valuable insights about effective communication and the importance of understanding local markets for successful product placement.
Aug 29, 2024 • 46min
423. Unveiling the Biases Behind Misinformation w/ Alex Edmans
In this engaging discussion, Alex Edmonds, a finance professor at London Business School and author of "May Contain Lies," explores the intriguing ties between emotions and financial decision-making. He reveals how sports results can sway stock market behavior and highlights the perils of confirmation bias and black-and-white thinking. Alex introduces the 'ladder of misinference,' emphasizing the importance of accurate data interpretation. Tune in for practical strategies to enhance critical thinking and combat misinformation!
Aug 26, 2024 • 27min
422. The Lazy Brain: Unveiling Biases That Shape Our Decisions (Refreshed Episode)
In this discussion, Alex Edmonds, a thought leader on decision-making and misinformation, explores the fascinating realm of lazy brain biases. Listeners learn how biases like the default effect and decoy effect shape our choices. Edmonds emphasizes the importance of critically evaluating information, especially in a tech-driven world where automation bias can influence decisions. He offers insights into overcoming these cognitive shortcuts to make better, more informed choices in both personal and business contexts.
Aug 22, 2024 • 36min
421. Behavioral Science and Democracy w/ Beatriz Vallejo
Beatriz Vallejo, CEO of Ethos BT and a behavioral scientist, dives into the pressing issue of misinformation in Colombia. She shares insights on her Detox Information Project, which employs behavioral science to combat fake news and political polarization. Highlighting psychological factors like distrust and dehumanization, Beatriz reveals how innovative interventions have reduced misinformation vulnerability by 30%. This insightful discussion underscores the pivotal role of research and community collaboration in addressing societal challenges.
Aug 19, 2024 • 48min
420. Boosting Local Economies with Behavioral Science (Refreshed Episode)
Discover how behavioral economics is supercharging local economies through community involvement. Learn about innovative gamification strategies aimed at boosting participation in urban projects. Uncover the success of mobile apps in reviving small businesses amid disruptions, and how rewards programs are incentivizing local shopping. The podcast highlights unique urban ecosystems and emphasizes the importance of fostering consumer loyalty while supporting diverse businesses for resilience and recovery.
Aug 15, 2024 • 49min
419. The Mentorship Mindset: Insights from Dr. Ruth Gotian
Dr. Ruth Gotian, a leading expert in mentorship and leadership development, shares insights on achieving success through effective mentorship. She discusses the crucial role of having multiple mentors and differentiates between mentors, coaches, role models, and sponsors. Ruth highlights four key elements of success: intrinsic motivation, overcoming challenges, continuous learning, and mentorship's evolving nature. She emphasizes the significance of structured mentoring programs and building diverse support networks for personal and professional growth.
7 snips
Aug 12, 2024 • 38min
418. The Hidden Forces Shaping Your Decisions: Personal Biases Explained (Refreshed Episode)
Discover the intriguing world of personal biases that shape your decisions and interactions. The discussion sheds light on biases like optimism bias and planning fallacy, revealing how they can impact goal-setting. Learn how naive realism and the false consensus effect hinder communication and collaboration. The conversation emphasizes the importance of self-awareness in recognizing these biases to enhance personal and professional success. Get ready to navigate the hidden forces that influence your thoughts and improve your decision-making skills!
