How game-theory logic underpins many of our seemingly odd and irrational decisions

Peter Dizikes, Massachusetts Institute of Technology article is well worth the read. https://phys.org/news/2022-04-game-theory-logic-underpins-seemingly-odd.html?utm_source=nwletter&utm_medium=email&utm_campaign=daily-nwletter “Things that at first seem irrational, once you dig a little and think about what is being signaled, and ask the right questions, become a lot less puzzling,” Like to learn More about Uncovering Answers about people’s quirky preferences?

Explore or exploit: How our brains make choices

Interesting article by Natalie Rogers, University of New Mexico In the article, “The neurocomputational bases of explore-exploit decision-making,” looks at activity in the brain when primates and humans are presented with a choice between one option that maximizes information (explore) and one that prioritizes a known reward (exploit). Which do we chose? https://medicalxpress.com/news/2022-04-explore-exploit-brains-choices.html?utm_source=nwletter&utm_medium=email&utm_campaign=daily-nwletter

Brands are speaking out on social issues, but it could take years before consumers believe their efforts are sincere 😍

Brands that simply make vague statements in support of any of these social-justice movements are probably going to be seen as much more opportunistic than those that can back their statements with real data and real actions.” https://www.morningbrew.com/marketing/stories/2022/04/19/brands-are-speaking-out-on-social-issues-but-it-could-take-years-before-consumers-believe-their-efforts-are-sincere?utm_campaign=mkb&utm_medium=newsletter&utm_source=morning_brew&mid=54615fd9d7ccba4d5cb253174c408816 IT ALL COMES DOWN TO TRUST, WHCIH CAN’T BE EARNED IN A DAY ! WE CAN SHOWContinue reading “Brands are speaking out on social issues, but it could take years before consumers believe their efforts are sincere 😍”

The Neuroscience of Customer Experience

When neurological insights inform design thinking, companies can innovate with greater precision. Great article in MIT Sloan Management Review. https://sloanreview.mit.edu/article/the-neuroscience-of-customer-experience/ Product and consumer experience teams are increasingly using neural insights to determine what consumers really value, what brings them joy, and what reduces or eliminates their pain and frustration. The payoff? Smart product design thatContinue reading “The Neuroscience of Customer Experience”

IDENTITY-BASED ALIENATION: HOW MARKETING CAN BACKFIRE

Darden Professor Tami Kim, and her co-authors used both in-lab and field studies to examine identity-based appeals and determine how they affected consumers.🤓 What they found might surprise the marketers behind some of these products. https://ideas.darden.virginia.edu/identity-based-marketing?utm_source=newsletter&utm_medium=email&utm_content=DardenIdeastoAction&utm_campaign=ITAe-newsApril2022 Don’t limit your product — or your consumer — to a single, stereotypical identity. Want to learn How?

Beyond the buzzwords: Top 4 B2B marketing trends to watch for in 2022🧐

DRUM ROLL # 1 Data-driven personalized engagement and targeting  Personalization is a significant trend to watch out for in 2022. In fact, according to a Gartner study, poor personalization may cost brands up to 38% of their customers Almost half of all B2B buyers and financial decision-makers are millennials. Who are more likely than any otherContinue reading “Beyond the buzzwords: Top 4 B2B marketing trends to watch for in 2022🧐”

Cognitive Biases: Three Common Types Illustrated

Confirmation bias, sampling bias, and brilliance bias are three examples that can affect our ability to critically engage with information. https://www.visualcapitalist.com/cp/cognitive-biases-three-common-types-illustrated/ These are a few examples from Jono Hey which do give a good overview of some of the biases we face when trying to understand the data given to us, but they are just the tip ofContinue reading “Cognitive Biases: Three Common Types Illustrated”

When social irresponsibility goes viral

New Research from the University in Isfahan and the University of Malayer Shows. Brands that do not operate in accordance with the consumer’s perception of ethical, legal, and social issues are not ideologically compatible with consumers, which leads to negative emotions and brand hate. 😤 https://phys.org/news/2022-04-social-irresponsibility-viral.html?utm_source=nwletter&utm_medium=email&utm_campaign=daily-nwletter

Study finds top reviews, not average ratings, sway consumer decision-making

Great Article by Elizabeth L. Brown, University of South Florida , showing top reviews carry more sway in a customer’s final buying decisions when they are comparing product, than average. What we found was that when they read some reviews, just a few top reviews can overturn the impact of average ratings,” https://phys.org/news/2022-04-average-sway-consumer-decision-making.html?utm_source=nwletter&utm_medium=email&utm_campaign=daily-nwletter

The Neuroscience of Memorable Content🔮

Recently I attended a prestation on the Neurosciences of Memorable Content by Dr. Carmen Simon, cognitive neuroscientist and Chief Science Officer at Corporate Visions. Interesting Lens on B2B marketing 🔍 “People make decisions based on what they remember, not on what they forget. The problem is, people will forget 90 percent of what you shareContinue reading “The Neuroscience of Memorable Content🔮”