In Cannes this week, actor/comedian/musician Jack Black presented a topic on the new world of online content that jumped out at a few folks on the intertubes. One comment in particular stood out: Continue reading →
As the list of ways to promote your business grows, working out the most effective way to spruik your business can be half the battle. That’s why it’s vital that small-and medium-sized businesses put a solid marketing strategy in place and make sure they don’t deviate from the plan.
Founder of The Behavioural Architects, Crawford Hollingworth, discusses 21st Century piggy banks. We all find saving quite hard in this fast moving ‘cake today’ culture. The excitement of shaking and feeling the weight of an old-fashioned piggy bank may not be quite as fun as it used to be.
Behavioural economics helps us understand why we might find it hard to save and suggests ways of helping us over these barriers. Firstly, it recognises that we have varying degrees of self-control and impulsiveness depending on our personality and the circumstances we find ourselves in. Although some of us are on the extreme with either impressively high self-control or abysmally low levels, two-thirds of us live in a 50/50 world where sometimes we give in to temptation and other times we are well-behaved and resist. But what if it was a good thing to be impulsive?
Last week ADMA spoke with Rory Sutherland Vice Chairman Ogilvy Group UK around the topic of behavioural economics and how to influence responses.
Marketers have long been searching theories on what impact a person’s decision-making process through consumer physiology. Many scientists are leaning towards neuroscience; however we need to align ourselves to a recognisable and more practical solution and refresh our thinking to turn human understanding into our business and social advantage.
Data has been a key factor for direct marketers in turning this understanding into a workable advantage but according to Rory, you need a model of behaviour first before you start interrogating it and allowing your data to do the work. If you don’t have an interesting model to work with, you may not know the questions to answer.