In this episode of The Brainy Business podcast, Melina Palmer welcomes Dr. Siobhan McHale, author of The Hive Mind at Work. Siobhan's fascination with bees from her childhood in Southern Ireland led her to explore human ecosystems and the power of group intelligence in transforming workplaces. With over 30 years of experience, she has guided leaders in creating agile and productive environments, drawing from her role as an executive in charge of transformation at international firms like ANZ Bank. Throughout the episode, Siobhan discusses the concept of the hive mind and its application in business, emphasizing the importance of understanding group intelligence (GQ) alongside traditional IQ and EQ. She shares insights from her book, including case studies from her career, and explains how organizations can overcome challenges by diagnosing patterns and reframing roles. The conversation also delves into the nine laws of group dynamics and the role of storytelling in facilitating change. In this episode: Discover the significance of group intelligence (GQ) in modern workplaces. Learn about the nine laws of group dynamics and how they can transform organizations. Explore the parallels between bee behavior and business ecosystems. Understand the role of storytelling in driving meaningful change. Gain practical insights into diagnosing and addressing group dynamics issues. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Dr. Siobhan McHale and the topic of group intelligence in the workplace. 00:03:15 - Siobhan's Background Siobhan shares her journey from a small village in Ireland to a career in organizational psychology and transformation. 00:09:45 - The Hive Mind Concept Discussion on the inspiration behind The Hive Mind at Work and the lessons from bees. 00:15:30 - IQ, EQ, and GQ Explanation of group intelligence and its importance in navigating complex business environments. 00:22:00 - Diagnosing Organizational Patterns Insights into identifying and addressing hidden patterns in workplace dynamics. 00:30:00 - Case Study: ANZ Bank A detailed look at the successful transformation of ANZ Bank using group intelligence principles. 00:38:00 - The Nine Laws of Group Dynamics Overview of the laws and their application in business contexts. 00:45:00 - Storytelling and Change The role of storytelling in making complex ideas accessible and memorable. 00:52:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Siobhan: LinkedIn Siobhan's Website Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer Influence, by Robert Cialdini The Speed of Trust, by Stephen M.R. Covey Drive, by Daniel Pink The Hive Mind at Work, by Siobhan McHale Top Recommended Next Episode: Change Management (ep 226) Already Heard That One? Try These:  Confirmation Bias (ep 260) That’s not fair! (Inequity Aversion) (ep 224) Planning Fallacy (ep 346) Fundamental Attribution Error (ep 268) Manuj Aggarwall Interview (ep 192) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer revisits a fascinating topic: the sense of taste. Originally aired as episode 26, this episode is part of a series exploring the five senses and their impact on behavioral economics and decision-making. Whether your business is service-based or product-focused, Melina emphasizes the importance of considering all senses, including taste, in your strategy. Melina delves into the intricate relationship between taste and smell, revealing that taste is 80% smell. She discusses the concept of anosmia, a condition where individuals lose their sense of smell, and how it significantly diminishes their sense of taste. The episode also explores the role of mirror neurons, which allow us to empathize with others' experiences, including taste. Throughout the episode, Melina shares insights on how taste is influenced by all other senses, such as sight, sound, and touch, and how these can be leveraged in branding and marketing. From the impact of color on taste perception to the power of brand expectations, listeners will gain a deeper understanding of how to create a holistic sensory experience for their customers. In this episode: Discover how taste and smell are interconnected and why taste is 80% smell. Learn about anosmia and its effect on taste perception. Explore the role of mirror neurons in experiencing taste and other senses. Understand how all senses, including sight, sound, and touch, contribute to the perception of taste. Gain insights on leveraging sensory experiences in branding and marketing. Show Notes: 00:00:00 - Introduction 00:02:00 - Both taste and smell use chemical receptors to the brain and are more primitive senses 00:09:16 - Mirror neurons were partially discovered because of taste and our desires to eat food 00:13:33 - Using food imagery in branding can backfire on you because of mirror neurons 00:17:16 - Sound and touch can impact taste, as well as texture and temperature 00:19:05 - Ambiance affects perceived flavor and the amount someone was willing to pay 00:28:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein Thinking Fast and Slow, by Daniel Kahneman What Your Employees Need and Can't Tell You, by Melina Palmer Sludge, by Cass Sunstein Top Recommended Next Episode: Framing (ep 296) Already Heard That One? Try These:  Unlocking the Secrets of the Brain (ep 1) Priming (ep 252) NUDGES and Choice Architecture: Introduction (ep 35) Habits (ep 256) Prefactual Thinking: How to Turn “What If” Into “Why Not” (ep 71) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Taste & Smell: Crash Course A&P #16 What is Taste? How does our sense of taste work? Confusing Tastes and Smells: How Odours can Influence the Perception of Sweet and Sour Tastes Coke Won the Cola Wars Because Great Taste Takes More Than a Single Sip

In this episode of The Brainy Business podcast, host Melina Palmer welcomes Evelyn Gosnell and Dr. Isabel Macdonald from Irrational Labs. Evelyn, as the managing director, applies behavioral insights to help product teams drive business outcomes and customer value. She has collaborated with leading companies like Lyft, TikTok, Google, and more. Isabel, a behavioral scientist with a PhD in public policy from Harvard University, focuses on leveraging economic and psychological forces to guide the development of technology tools for social good. The episode delves into a recent project with Lyft, where Evelyn and Isabel share key insights on using behavioral science to enhance user engagement. They discuss the Women+ Connect feature, aimed at increasing matches between female drivers and riders, and how different behavioral messaging strategies were tested to optimize driver opt-in rates. In this episode: Discover the behavioral mapping process used by Irrational Labs to identify psychological factors impacting user decisions. Learn about the three messaging strategies tested with Lyft drivers and the surprising results that emerged. Understand the importance of being "uncomfortably specific" when defining key behaviors to change. Explore how behavioral science can be applied across various industries to improve product engagement and business outcomes. Gain insights into the challenges and opportunities of incorporating behavioral science into product development. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Evelyn Gosnell and Dr. Isabel Macdonald from Irrational Labs and sets the stage for a discussion on applying behavioral science in business. 00:05:32 - Evelyn's Background Evelyn shares her journey from product management to behavioral science and her role at Irrational Labs. 00:10:45 - Isabel's Background Isabel discusses her transition from academia to behavioral science and her passion for applying economic and psychological insights. 00:15:23 - The Lyft Project Discussion on the Women+ Connect feature and the behavioral science approach used to increase driver opt-ins. 00:25:14 - Behavioral Mapping and Messaging Strategies Evelyn and Isabel explain the behavioral mapping process and the three messaging strategies tested with Lyft drivers. 00:35:47 - Results and Insights Analysis of the test results and the surprising effectiveness of the concreteness message in changing driver behavior. 00:45:29 - Importance of Being Uncomfortably Specific The significance of defining specific behaviors and how it aids in designing effective interventions. 00:50:12 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Evelyn and Isabel: Evelyn website Isabel LinkedIn Evelyn LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer Alchemy, by Rory Sutherland Blindsight, by Matt Johnson and Prince Ghuman Using Behavioral Science in Marketing, by Nancy Harhut Immersion, by Paul Zak Top Recommended Next Episode: Sudy Majd Interview (ep 444) Already Heard That One? Try These:  A Behavioral Economics Analysis of Costco (ep 47) Disney (ep 292) Peloton (ep 338) Starbucks: A Behavioral Economics Analysis (ep 73) Amazon (ep 159) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Irrational Labs 3B Framework Case Study: Doubling New Engagement With Lyft’s Women+ Connect Feature

In this episode of The Brainy Business podcast, Melina Palmer revisits a compelling conversation with Dr. Sudy Majd, a leader and behavioral scientist with a rich background in e-commerce purchasing behaviors. Originally aired in early April 2020, this episode delves into Sudy's work at Candid, a company that helps people straighten their teeth with clear aligners, and her journey to incorporate behavioral science into business practices. During the episode, Sudy shares insights from her research on consumer behavior, particularly focusing on the challenges of getting customers to return kits necessary for purchasing aligners. She discusses the surprising outcomes of applying behavioral science tactics and the importance of continuous testing and adaptation in real-world applications. The conversation also explores customer feedback, procrastination, and the psychological traits influencing consumer decisions. In this episode: Discover the intention-action gap and how it affects consumer behavior in e-commerce. Learn about the application of behavioral science tactics, such as nudging and social norms, in business. Explore the balance between qualitative and quantitative research in understanding consumer decisions. Understand the role of customer feedback in refining business strategies and improving conversion rates. Gain insights into the future of behavioral science in business and its application in digital spaces and big data. Show Notes: 00:00:00 - Introduction Melina introduces the episode and Dr. Sudy Majd, highlighting her expertise in behavioral science and e-commerce. 00:02:00 - Sudy's Background Sudy shares her journey from academia to applying behavioral science at Candid and other businesses. 00:08:00 - Challenges in Consumer Behavior Discussion on the challenges of getting customers to return kits and the initial application of behavioral science tactics. 00:15:00 - Testing and Adaptation Insights into the importance of testing and adapting strategies based on consumer feedback and psychological traits. 00:23:00 - Overcoming Procrastination Exploration of strategies to overcome consumer procrastination and improve conversion rates. 00:27:00 - Future of Behavioral Science Sudy discusses the future of behavioral science in business, including its application in digital spaces and big data. 00:29:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Sudy:  LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer Alchemy, by Rory Sutherland Blindsight, by Matt Johnson and Prince Ghuman Using Behavioral Science in Marketing, by Nancy Harhut Immersion, by Paul Zak Top Recommended Next Episode: How to Set Up Your Own Experiments (ep 63) Already Heard That One? Try These:  A Behavioral Economics Analysis of Costco (ep 47) Disney (ep 292) Peloton (ep 338) Starbucks: A Behavioral Economics Analysis (ep 73) Amazon (ep 159) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer welcomes Jason Voiovich, author of Booze, Babe, and the Little Black Dress, for a fascinating discussion about the consumer revolution of the 1920s. Jason, with over 25 years of experience in launching innovative products, shares his insights into how the Roaring Twenties shaped modern consumer behavior and choice culture. Jason discusses his journey from a family of artists, immigrants, and entrepreneurs to becoming a fractional chief marketing officer and chief innovation officer. He emphasizes the importance of history in understanding consumer behavior and innovation, revealing how lessons from the past can inform present-day business strategies. The conversation explores the pivotal innovations of the 1920s, highlighting how mass production, mass marketing, and mass finance converged to create a culture of choice.  In this episode: Discover the historical roots of modern consumer choice and behavior. Learn about the innovations that shaped the 1920s and their lasting impact. Understand the role of advertising and media in influencing consumer decisions. Explore the psychological aspects of identity and social proof in consumer culture. Gain insights into how historical lessons can inform current business strategies. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Jason Voiovich and his book Booze, Babe, and the Little Black Dress. 00:03:15 - Jason's Background Jason shares his journey and the influence of his family's entrepreneurial spirit on his career. 00:08:30 - The Importance of History Jason discusses how historical insights can inform innovation and consumer behavior. 00:15:45 - Innovations of the 1920s The conversation explores key innovations of the 1920s, including GM's model year changes and product ladder. 00:22:00 - Role of Advertising Jason explains how advertising serves as a primary source for understanding consumer behavior. 00:29:15 - Radio and Attention Management The impact of radio on consumer choice and attention management is discussed. 00:35:42 - Identity and Social Proof Jason delves into the psychological aspects of identity and social proof in consumer culture. 00:47:05 -  Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Jason: LinkedIn Jason’s Website  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer The Experience Maker, by Dan Gingiss Booze, Babe, and the Little Black Dress, by Jason Voiovich Elements of Choice, by Eric Johnson Alchemy, by Rory Sutherland Top Recommended Next Episode: Roger Hurni Interview (ep 405) Already Heard That One? Try These:  Disney (ep 144) Rory Sutherland Interview (ep 373) Surprise & Delight (ep 60) Peak-End Rule: Why Averages Don’t Always Matter (ep 97) Robert Cialdini Interview (ep 157) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer revisits the foundational concepts of choice architecture and nudges, crucial elements in the field of behavioral economics. Originally aired as episode 35, this episode sets the stage for understanding how subtle changes in the way choices are presented can significantly influence decision-making. Melina refreshes this episode to prepare listeners for her upcoming conversation with author Jason Vojovich. Melina delves into the work of Nobel laureate Richard Thaler and his co-author Cass Sunstein, explaining how their book Nudge has shaped our understanding of nudges. She uses practical examples, such as school cafeteria food placement, to illustrate how choice architecture can guide better decisions without restricting freedom of choice. This episode is packed with insights on how to apply these concepts in both personal and professional contexts. In this episode: Learn the core definitions of choice architecture and nudges. Understand the impact of subtle changes in choice presentation. Explore practical examples of nudges in everyday scenarios. Discover how to design better choices for improved decision-making. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the episode and its relevance to the upcoming discussion with Jason Voiovich. 00:02:15 - Definition of Nudges Melina explains the core definition of a nudge and its significance in behavioral economics. 00:05:30 - Richard Thaler's Contribution An overview of Richard Thaler's Nobel Prize-winning work and the book Nudge. 00:10:45 - School Cafeteria Example Practical example of how food placement in school cafeterias can influence children's food choices. 00:15:00 - Behavioral Insights Team Discussion on the role of a Behavioral Insights team in implementing nudges at the policy level. 00:20:00 - The Role of a Choice Architect Explanation of what it means to be a choice architect and how it applies to various professions. 00:25:00 - Ethical Considerations Examination of the ethical implications of using nudges in decision-making. 00:30:00 - Examples of Choice Architecture Real-world examples of choice architecture in HR, healthcare, and other fields. 00:35:00 -  Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein Thinking Fast and Slow, by Daniel Kahneman What Your Employees Need and Can't Tell You, by Melina Palmer Sludge, by Cass Sunstein Top Recommended Next Episode: Cass Sunstein Interview (ep 371) Already Heard That One? Try These:  Unlocking the Secrets of the Brain (ep 1) Framing (ep 296) Priming (ep 252) Habits (ep 256) Prefactual Thinking: How to Turn “What If” Into “Why Not” (ep 71) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Choice Architecture

In this episode of The Brainy Business podcast, Melina Palmer welcomes Hunter Thurman, president of Alpha-Diver, for an engaging discussion on the intersection of neuroscience, market research, and consumer behavior. Hunter shares his journey from traditional market research to founding Alpha-Diver, a firm that leverages behavioral science to uncover the deeper motivations behind consumer actions. With a focus on the BEV 50 report, Hunter reveals fascinating insights into how pricing perceptions differ between high-interest, exploratory brands like Poppy and Olipop and routine staples like Coke and Pepsi. Hunter explains how consumers' concerns about price are often inversely related to the actual cost per ounce, challenging the conventional wisdom that price directly dictates consumer behavior. This episode delves into the psychological factors that influence purchasing decisions, emphasizing that the perceived cost and social context often outweigh the actual price. Hunter and Melina discuss strategies for brands to navigate these complexities, whether they are market leaders looking to maintain their dominance or new entrants aiming to carve out a niche. In this episode: Explore the unexpected relationship between price and consumer perception. Understand the importance of social context in influencing purchasing decisions. Learn about the different psychological drivers for routine and exploratory brands. Discover actionable strategies for both established and emerging brands to thrive in a competitive market. Gain insights into how to leverage behavioral science to better understand and predict consumer behavior. Show Notes: 00:00:00 - Introduction Melina introduces Hunter Thurman and the focus of today's episode on pricing insights from the BEV 50 report. 00:04:30 - Hunter's Background Hunter shares his journey from traditional market research to founding Alpha-Diver and applying behavioral science to understand consumer behavior. 00:10:15 - The BEV 50 Report Hunter discusses the BEV 50 report and the surprising findings about consumer perceptions of price and value. 00:15:45 - Price Perception vs. Actual Cost Hunter explains how consumers often perceive lower-priced routine brands as more expensive compared to higher-priced exploratory brands. 00:25:00 - Psychological Drivers The conversation shifts to the psychological factors that drive consumer behavior and how brands can leverage these insights. 00:30:20 - Strategies for Market Leaders Hunter provides actionable advice for established brands to navigate pricing challenges and maintain consumer interest. 00:35:50 - Strategies for Emerging Brands Hunter shares tips for new brands looking to enter the market and differentiate themselves. 00:45:00 - The Promised Land Hunter describes the "promised land" for brands that successfully balance routine use with high consumer interest. 00:50:30 -  Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Hunter: LinkedIn  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: The Truth About Pricing, by Melina Palmer The Power of Scarcity, by Mindy Weinstein Influence, by Robert Cialdini The Psychology of Price, by Leigh Caldwell Semiotics In Retail, by Rachel Lawes Top Recommended Next Episode: Sigi Hale Interview (ep 335) Already Heard That One? Try These:  Quality Vs Value (ep 357) The Truth About Pricing (ep 356) How to Stack and Bundle Products and Services (ep 84) How to raise your prices (ep 354) Pain of Paying (ep 240) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Alpha-Diver Website

In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating intersection of artificial intelligence and behavioral economics with Sam Albert, Chief Digital Officer at Behaviorally. Sam shares his extensive experience in the research industry and discusses the innovative work his team is doing with Flash.AI to create predictive models that help businesses increase sales and improve customer connections. Sam explains how Behaviorally leverages a rich database of system one and system two behaviors, along with advanced image recognition, to predict consumer actions and reactions. He provides valuable insights into the dynamic nature of AI models and the importance of continuously updating them to reflect real-world changes. Sam also shares compelling case studies that illustrate how Flash.AI can help businesses make informed decisions about product packaging and placement, ultimately leading to better market performance. In this episode: Discover the power of combining AI and behavioral economics to create predictive models. Learn about the dynamic nature of AI models and the importance of continuous updates. Explore compelling case studies that demonstrate the impact of Flash.AI on product packaging and placement. Understand the importance of context and nuance in evaluating consumer behavior. Gain insights into the future of AI and its role in market research and consumer behavior analysis. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Sam Albert and highlights the focus of the episode on AI and behavioral economics. 00:02:45 - Sam Albert's Background Sam shares his journey from a pre-law political science major to Chief Digital Officer at Behaviorally, detailing his extensive experience in the research industry. 00:08:15 - The Evolution of Behavioral Science Sam discusses the early days of behavioral science and the innovative tools and techniques used to understand consumer behavior. 00:13:55 - Introduction to Flash.AI Sam explains how Flash.AI leverages a rich database of system one and system two behaviors, along with advanced image recognition, to predict consumer actions and reactions. 00:19:30 - The Dynamic Nature of AI Models Sam emphasizes the importance of continuously updating AI models to reflect real-world changes and ensure accurate predictions. 00:24:55 - Case Studies Sam shares compelling case studies that illustrate how Flash.AI helps businesses make informed decisions about product packaging and placement. 00:34:20 - The Future of AI in Market Research Sam discusses the future of AI and its role in market research and consumer behavior analysis, emphasizing the importance of context and nuance. 00:44:10 - AI Summary Melina wraps up the conversation, highlighting the key takeaways and encouraging listeners to explore the potential of AI in their own businesses. 00:49:35 -  Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Sam: LinkedIn Behaviorally Website Behaviorally on Twitter Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: The Truth About Pricing, by Melina Palmer The Power of Scarcity, by Mindy Weinstein Influence, by Robert Cialdini The Psychology of Price, by Leigh Caldwell Semiotics In Retail, by Rachel Lawes Top Recommended Next Episode: Unboxing Videos: Why Do They Work? (ep 180) Already Heard That One? Try These:  Quality Vs Value (ep 357) The Truth About Pricing (ep 356) How to Stack and Bundle Products and Services (ep 84) How to raise your prices (ep 354) Pain of Paying (ep 240) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Flash.AI Case Studies

In episode 439 of The Brainy Business podcast, Melina Palmer welcomes William Mailer, Chief Behavioral Scientist at Commonwealth Bank of Australia, to discuss the intersection of behavioral science and financial well-being. William, who leads the bank's Behavioral Science Center of Excellence, shares insights on how his multidisciplinary team of economists, psychologists, and data scientists work to improve financial well-being and climate action outcomes for millions of Australians. The episode explores the innovative projects led by Will’s team, including Benefits Finder, which has connected Australians to over $1.2 billion in government benefits. Will also explores his journey into behavioral science, starting from his early career in economics and various roles that focused on understanding human behavior. He provides valuable advice on building a behavioral science team within an organization, emphasizing the importance of establishing relationships with academic researchers and thinking creatively to solve problems. Additionally, the episode highlights the importance of operational transparency in financial products, showcasing how showing trade-offs in credit card options can lead to higher customer retention and reduced financial distress. In this episode: Learn about the innovative Benefits Finder project and its impact on financial well-being in Australia. Discover the importance of operational transparency in financial products. Understand the criteria for selecting high-impact behavioral science projects. Gain insights into building and leading a multidisciplinary behavioral science team. Explore Will Mailer's journey and experiences in the field of behavioral science. Show Notes: 00:00:00 - Introduction Melina Palmer introduces William Mailer and sets the stage for an insightful conversation on behavioral science and financial well-being. 00:02:30 - Will's Background Will shares his journey into behavioral science, including his early career in economics and roles focused on understanding human behavior. 00:10:00 - Building a Behavioral Science Team Will discusses the importance of establishing relationships with academic researchers and thinking creatively to solve problems. 00:15:45 - Benefits Finder Project Will introduces the Benefits Finder project, which has connected Australians to over $1.2 billion in government benefits. 00:25:00 - Operational Transparency in Financial Products Will explains the importance of showing trade-offs in credit card options to improve customer retention and reduce financial distress. 00:35:45 - Selecting High-Impact Projects Will shares the criteria his team uses to select high-impact behavioral science projects. 00:45:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with William: LinkedIn Profile X Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Behavioral Investor, by Daniel Crosby Tightwads and Spendthrifts, by Scott Rick The Power of Regret, by Daniel Pink Dollars and Sense, by Dan Ariely and Jeff Kreisler Money Mindsets, by Vishal George Top Recommended Next Episode: Quique Belenguer Interview (ep 435) Already Heard That One? Try These:  Chuck Howard Interview (ep 213) Scott Rick Interview (ep 369) Can Behavioral Economics Increase Savings? (ep 65) Anthony Damtsis Interview (ep 415) Booms and Busts (ep 30) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter https://www.biorgpartnership.com/case-studies CBA’s ‘Benefits finder’ connects customers to $1 billion The Upside of Highlighting a Product's Downsides - HBS Working Knowledge

In this episode of The Brainy Business podcast, Melina Palmer revisits the impactful announcement of the Apple Card and its behavioral economics implications. Originally aired in April 2019, this episode explores the strategic genius behind Apple's reveal of its new financial product. Melina discusses the anticipation and expectations built by Apple, the delayed pricing strategy, and the clever use of framing and herding behaviors to captivate potential customers. She also explores how familiarity and celebrity endorsements are crucial to Apple's marketing success. Melina's analysis provides valuable lessons for businesses in any industry, emphasizing the importance of stepping out of the status quo and seeing opportunities from a fresh perspective.  In this episode: Understand the behavioral economics behind Apple's announcement of the Apple Card. Learn how anticipation and expectations can be strategically built to enhance customer engagement. Discover the importance of framing and herding behaviors in marketing. Explore the role of familiarity and celebrity endorsements in successful branding. Gain insights into how businesses can break free from the status quo and innovate. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the episode and explains the relevance of revisiting the Apple Card announcement. 00:04:30 - Building Anticipation Discussion on how Apple built anticipation and expectations through their strategic announcements. 00:09:15 - Delayed Pricing Strategy Exploration of Apple's decision to delay pricing announcements and its impact on customer perception. 00:14:45 - Framing and Herding Analysis of how Apple used framing and herding behaviors to influence customer decisions. 00:20:10 - Familiarity and Celebrity Endorsements Examination of the role of familiarity and celebrity endorsements in Apple's marketing strategy. 00:25:30 - Subscription Models Insights into Apple's use of subscription models and their appeal to consumers. 00:30:45 - Apple Card Features Detailed breakdown of Apple Card's features and how they are framed to appeal to customers. 00:35:50 - No Fees Message Discussion on the framing of Apple Card's no fees message and its implications. 00:40:20 - Cashback Rewards Analysis of Apple Card's cashback rewards and their behavioral economics impact. 00:42:10 - Personal Financial Management Exploration of Apple Card's personal financial management tools and their user-friendly design. 00:44:00-  Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer Alchemy, by Rory Sutherland Blindsight, by Matt Johnson and Prince Ghuman Using Behavioral Science in Marketing, by Nancy Harhut Immersion, by Paul Zak Top Recommended Next Episode: Paul Zak Interview (ep 437) Already Heard That One? Try These:  A Behavioral Economics Analysis of Costco (ep 47) Disney (ep 292) Peloton (ep 338) Starbucks: A Behavioral Economics Analysis (ep 73) Amazon (ep 159) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 437 of The Brainy Business podcast, Melina Palmer welcomes Dr. Paul Zak, a distinguished University professor at Claremont Graduate University and a top 0.3% most cited scientist. Known for his pioneering research in behavioral neuroscience, Paul has authored several influential books, including Trust Factor and The Moral Molecule. His latest book, Immersion, explores the neuroscience behind happiness and extraordinary experiences. Paul is also a four-time tech entrepreneur and the founder of Immersion Neuroscience, a platform that measures brain activity to improve outcomes in various fields such as entertainment, education, and advertising. Throughout the episode, Paul shares insights from his extensive research, including the profound effects of oxytocin on human behavior and the importance of storytelling in building trust. He discusses the concept of immersion, a state of deep engagement driven by neurochemicals like dopamine and oxytocin, and how businesses can leverage this to create memorable customer experiences. Paul also introduces his latest venture, the SIX app, designed to measure and enhance emotional wellness by tracking peak moments of engagement. In this episode: Discover the science behind immersion and its impact on customer engagement. Learn how storytelling can build trust and influence behavior. Explore practical strategies for creating memorable customer experiences. Understand the role of emotional wellness in employee performance. Get insights into the SIX app and its potential to improve emotional health. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Dr. Paul Zak and his extensive background in behavioral neuroscience and entrepreneurship. 02:00 - Paul's Background Paul shares his journey, including his roles at Claremont Graduate University and Immersion Neuroscience. 07:00 - Neuroscience as a Service Discussion on the concept of neuroscience as a service and its applications in various industries. 12:00 - The Power of Oxytocin Paul explains the behavioral effects of oxytocin and its role in building trust. 17:00 - Immersion and Engagement Exploration of the concept of immersion and how it drives customer engagement and memorable experiences. 23:00 - Storytelling and Trust Discussion on the importance of storytelling in creating trust and influencing behavior. 28:00 - Practical Applications Paul shares examples of how businesses can create high-immersion experiences to enhance customer loyalty. 33:00 - Emotional Wellness and Employee Performance Introduction to the SIX app and its role in measuring and improving emotional wellness. 38:00 - Real-Time Feedback and Emotional Health Discussion on the app's features, including real-time feedback and its potential to enhance emotional health. 51:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Paul: LinkedIn Immersion App Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer The Experience Maker, by Dan Gingiss Choice Hacking, by Jennifer Clinehens Immersion, by Paul Zak Alchemy, by Rory Sutherland Top Recommended Next Episode: Work with Your Brain: Unleashing the Power of the DOSE Chemicals (Refreshed Episode) (ep 360) Already Heard That One? Try These:  Disney (ep 144) Rory Sutherland Interview (ep 373) Surprise & Delight (ep 60) Peak-End Rule: Why Averages Don’t Always Matter (ep 97) Robert Cialdini Interview (ep 157) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 436 of The Brainy Business podcast, Melina Palmer dives into the fascinating biases our brains have toward novelty and stories. This episode, originally aired in 2019, is part of an eight-part series on biases and offers a rapid-fire overview of how our brains respond to new and intriguing stimuli. Melina explains concepts like the bizarreness effect, humor effect, pareidolia, and more, illustrating how these biases impact our decisions and interactions in both personal and professional settings. Melina also touches on the importance of storytelling in building trust and engagement, setting the stage for her upcoming interview with Dr. Paul Zak, a pioneer in the study of oxytocin and its role in storytelling. This episode is packed with insights on how to leverage our natural inclinations toward novelty and stories to enhance marketing strategies, improve customer interactions, and create compelling presentations. In this episode: Understand the bizarreness effect and how novelty impacts memory. Learn how humor and bizarreness can be effectively used in marketing. Explore the role of pareidolia in capturing attention. Discover the power of storytelling in building trust and engagement. Gain insights into biases like the empathy gap, optimism bias, and authority bias. Show Notes: 00:00:00 - Introduction Melina introduces the topic of biases toward novelty and stories and sets the stage for a rapid-fire overview of related concepts. 00:01:45 - Bizarreness Effect Explanation of the bizarreness effect and how our brains remember unusual items better than common ones. 00:03:30 - Humor Effect Discussion on the humor effect and how humorous content is more likely to be remembered. 00:05:15 - Pareidolia Exploration of pareidolia and how our brains are primed to see faces in random objects. 00:07:00 - Identifiable Victim Effect Examination of the identifiable victim effect and how personal stories are more impactful than statistics. 00:08:45 - Survivorship Bias Discussion on survivorship bias and the importance of considering all data, not just the successful cases. 00:10:30 - Just World Hypothesis Explanation of the just world hypothesis and how it affects our perception of fairness and morality. 00:12:15 - Authority Bias Exploration of authority bias and why we trust opinions from perceived authorities more than others. 00:14:00 - Reciprocity and Ben Franklin Effect Discussion on reciprocity and the Ben Franklin effect, and how favors influence future behavior. 00:15:45 - Social Desirability Bias Examination of social desirability bias and how it impacts the way we report our behaviors and characteristics. 00:17:30 - Omission Bias Explanation of omission bias and how we judge actions more harshly than inactions. 00:19:15 - Licensing Effect Discussion on the licensing effect and how doing something good can lead to justifying bad behavior. 23:12-  Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Customer Wants and Can't Tell You, by Melina Palmer The Life Saving Skill of Story, by Michelle Auerbach Magic Words, by Jonah Berger Metaphors We Live By, by George Lakoff and Mark Johnson Bridges and Barriers, by Troy Andrews Top Recommended Next Episode: Prince Ghuman Interview (ep 344) Already Heard That One? Try These:  Michelle Auerbach Interview (ep 288) Jonah Berger Interview (ep 301) David Paull Interview (ep 289) Biases Toward Novelty and Stories (ep 54) Sarah Thompson Interview (ep 259) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer welcomes Quique Belenguer, the global lead of behavioral economics at BBVA. This insightful discussion centers on the internal structuring of behavioral economics teams within organizations, offering valuable lessons and strategies for those looking to incorporate behavioral science into their business practices. Quique shares his experience at BBVA, where he has been instrumental in developing a behavioral economics unit over the past six years. He discusses the evolution of their approach, from focusing on small tweaks to integrating behavioral insights into broader strategic projects. Quique emphasizes the importance of asking the right questions, collaborating with other departments, and creating frameworks that encourage collective problem-solving. The conversation also covers the significance of having internal advocates, understanding the key performance indicators (KPIs) of stakeholders, and the benefits of reskilling existing employees to build a diverse and effective behavioral science team. Quique provides practical advice for anyone looking to start or grow a behavioral economics unit, highlighting the need for flexibility, collaboration, and a deep understanding of the business context. In this episode: Learn about the evolution of BBVA's behavioral economics unit and its integration into various projects. Understand the importance of asking the right questions and collaborating with other departments. Discover strategies for starting and growing a behavioral economics team within an organization. Gain insights into the significance of having internal advocates and understanding stakeholder KPIs. Explore the benefits of reskilling existing employees to build a diverse behavioral science team. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Quique Belenguer and the focus of today's discussion on the internal structuring of behavioral economics teams. 00:02:15 - Quique's Background Quique shares his journey at BBVA and the evolution of their behavioral economics unit over the past six years. 00:08:50 - Asking the Right Questions It is important to ask the right questions and collaborate with other departments to create effective solutions. 00:15:30 - Internal Advocates The role of internal advocates in promoting behavioral science within organizations and securing resources for the team. 00:22:10 - Understanding KPIs The significance of understanding stakeholder KPIs and aligning behavioral interventions with business goals. 00:28:45 - Reskilling Employees The benefits of reskilling existing employees to build a diverse and effective behavioral science team. 00:35:20 - Practical Advice Quique provides practical advice for starting and growing a behavioral economics unit within an organization. 00:43:10 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Quique: LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer Influence, by Robert Cialdini influence Is Your Superpower, by Zoe Chance You Have More Influence Than You Think, by Vanessa Bohns Invisible Influence, by Jonah Berger Top Recommended Next Episode: IKEA Effect (ep 380) Already Heard That One? Try These:  Robert Cialdini Interview (ep 312) Social Proof (ep 87) Reciprocity (ep 238) Zoe Chance Interview (ep 308) Unity (ep 216) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer sits down with Dr. Steve Wendel to explore the intricacies of designing for behavior change. Steve, an esteemed applied behavioral scientist and co-founder of sistemaFutura, shares his extensive experience in using behavioral science to drive positive social impact. He has held significant roles at organizations like the Busara Center for Behavioral Economics and Morningstar, and authored several books, including the focal point of today's discussion, Designing for Behavior Change, now in its second edition. Throughout the episode, Steve delves into the practical applications of behavioral science, sharing insightful anecdotes and frameworks from his book. He introduces the CREATE and DECIDE frameworks, emphasizing the importance of understanding user behavior and designing interventions that align with natural human tendencies. From discussing the humorous and enlightening "fish on the beach" analogy to highlighting real-world examples of successful behavioral interventions, this episode is packed with actionable insights for anyone looking to apply behavioral science in their work. In this episode: Understand the CREATE and DECIDE frameworks for designing effective behavioral interventions. Learn the importance of timing and context in capturing user attention. Explore real-world examples of behavioral science applications in financial services and beyond. Discover the significance of testing and iterating on interventions to achieve meaningful results. Gain insights into the intersection of behavioral science and data science. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Dr. Steve Wendel and sets the stage for a deep dive into designing for behavior change. 00:02:00 - Steve's Background Steve shares his journey in behavioral science, including his roles at sistemaFutura, Busara Center for Behavioral Economics, and Morningstar. 00:05:30 - Origin of the Book Steve discusses how Designing for Behavior Change originated as a manual for his team and evolved into a comprehensive guidebook. 00:09:00 - The Fish on the Beach Analogy The enlightening story of the fish on the beach and how it illustrates common mistakes in behavior change strategies. 00:13:00 - The CREATE Framework Introduction to the CREATE framework: Cue, Reaction, Evaluation, Ability, Timing, and Experience, and its application in designing interventions. 00:18:00 - The DECIDE Framework Overview of the DECIDE framework: Defining the problem, Crafting the intervention, Determining its impact, and more. 00:22:00 - Real-World Applications Steve shares examples from his work, including interventions to reduce ATM fees and improve financial behaviors. 00:30:00 - Importance of Testing The significance of testing multiple interventions and learning from both successes and failures. 00:35:00 - Behavioral Science and Data Science Discussion on the intersection of behavioral science and data science and the potential for future advancements. 00:40:00 - Impact of the Pandemic How the COVID-19 pandemic has affected habits and behaviors, and the implications for behavioral interventions. 00:45:00-  Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Steve:  LinkedIn  X Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer A More Beautiful Question, by Warren Berger Designing for Behavior Change, by Stephen Wendel Engaged, by Amy Bucher Alchemy, by Rory Sutherland Top Recommended Next Episode: Amy Bucher Interview (ep 164) Already Heard That One? Try These:  The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Questions or Answers? (ep 4) Beatrix Daros Interview (ep 424) Framing (ep 296) Warren Berger Interview (ep 200) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer welcomes Andy Lopata, a renowned specialist in professional relationships and networking. With nearly 25 years of experience, Andy has been recognized as one of Europe's leading business networking strategists by the Financial Times. He is an international speaker, podcast host, and author of six books, including the Financial Times Guide to Mentoring, co-authored with Ruth Gotian. In this episode, Andy shares his insights on investing in relationships and creating a network of people who are willing to help and follow through on those intentions. The conversation delves into the importance of building, nurturing, and leveraging professional relationships, and how these elements contribute to executive success. Andy also discusses the concept of vulnerability in asking for help, and the interconnectedness of curiosity, listening, authenticity, and vulnerability in networking. In this episode: Learn the three stages of building professional relationships: building, nurturing, and leveraging. Understand the importance of vulnerability in asking for help and how to frame your requests effectively. Discover why people are motivated to help others and the significance of liking and trusting in professional relationships. Explore the concept of the "curiosity cycle" and how it enhances networking and relationship building. Get practical tips on finding and engaging mentors, and the importance of reciprocity in professional networking. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Andy Lopata and sets the stage for a conversation on professional relationships and networking. 00:01:45 - Andy's Background Andy shares his extensive background in networking and professional relationships, including his books and speaking engagements. 00:04:30 - Connected Leadership Andy explains the concept of connected leadership and the importance of professional relationships in executive success. 00:08:00 - Building and Nurturing Relationships Discussion on the stages of building, nurturing, and leveraging professional relationships and the challenges associated with each stage. 00:14:00 - Motivation to Help Andy explores why people are motivated to help others and the role of liking and trusting in professional support. 00:20:00 - Vulnerability in Asking for Help The conversation shifts to the importance of vulnerability in asking for help and how to frame requests effectively. 00:28:00 - The Curiosity Cycle Introduction to Andy's new model, the curiosity cycle, and its impact on networking and relationship building. 00:34:00 - Mentoring and Reciprocity Practical tips on finding mentors, engaging them, and the role of reciprocity in professional networking. 00:40:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Andy: Andy’s Website LinkedIn X Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer Influence, by Robert Cialdini influence Is Your Superpower, by Zoe Chance You Have More Influence Than You Think, by Vanessa Bohns Invisible Influence, by Jonah Berger Top Recommended Next Episode: Ruth Gotian Interview (ep 419) Already Heard That One? Try These:  Robert Cialdini Interview (ep 312) Social Proof (ep 87) Reciprocity (ep 238) Zoe Chance Interview (ep 308) Unity (ep 216) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter The Curiosity Cycle: Developing Trust and Engagement

In this episode of The Brainy Business podcast, Melina Palmer dives into the realm of ethical influence with Brian Ahearn. Brian, a distinguished expert in the field, is one of only a dozen individuals worldwide to hold the Cialdini Method Certified Trainer designation and one of a handful to have earned the Cialdini Pre-Suasion Trainer designation. As a faculty member of the Cialdini Institute, Brian is dedicated to teaching the science of influence to help people achieve greater professional success and personal happiness. Throughout the episode, Brian shares his extensive experience in applying the psychology of persuasion in various professional settings, from sales training to leadership coaching. He discusses the rigorous process of becoming a Cialdini-certified trainer and emphasizes the importance of ethical influence. Brian also delves into practical examples from his book, Influence People, highlighting actionable tips for effectively persuading others in a lasting and ethical manner. In this episode: Explore the principles of ethical influence and how they can be applied in business and personal contexts. Learn about the rigorous certification process for becoming a Cialdini Method Certified Trainer. Discover practical examples and tips from Brian's book, "Influence People." Understand the importance of ethical persuasion and how to avoid manipulation. Gain insights into the power of social proof, reciprocity, and other principles of influence. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the topic of ethical influence and welcomes Brian Ahearn to the podcast. 00:02:00 - Brian’s Background Brian shares his journey in the field of influence and his certification as a Cialdini Method Certified Trainer. 00:06:30 - The Cialdini Certification Process Brian discusses the rigorous process of becoming a certified trainer and the importance of presenting research accurately. 00:12:00 - Applying Influence in Business Brian explains how he applies the principles of influence in sales training and leadership coaching. 00:18:00 - The Importance of Ethical Influence The conversation shifts to the significance of using influence ethically and responsibly. 00:24:00 - Practical Examples from Influence People Brian shares practical tips and examples from his book, including the power of social proof and the impact of personal touches like handwritten notes. 00:32:00 - The Post-It Note Study Brian discusses a study on the effectiveness of handwritten post-it notes in increasing response rates. 00:38:00 - The Power of Asking Questions Brian emphasizes the importance of ending emails with questions to increase engagement and response rates. 00:45:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Brian: Brian’s Website LinkedIn X Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer Influence, by Robert Cialdini influence Is Your Superpower, by Zoe Chance You Have More Influence Than You Think, by Vanessa Bohns Influence PEOPLE, by Brian Ahearn Top Recommended Next Episode: Robert Cialdini Interview (ep 312) Already Heard That One? Try These:  Vanessa Bohns Interview (ep 318) Social Proof (ep 87) Reciprocity (ep 238) Zoe Chance Interview (ep 308) Unity (ep 216) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer welcomes Christopher Wong Michelson, co-author of Is Your Work Worth It?. Christopher, a philosopher with 25 years of experience advising business leaders, explores the profound questions surrounding the meaning and value of work. With a PhD in philosophical ethics and aesthetics, Christopher has held significant roles at PwC and academic positions at the Wharton School and NYU's Stern School of Business. His extensive background provides a rich foundation for exploring how work contributes to our sense of purpose and identity. Throughout the episode, Christopher shares insights from his journey, including his transition from academia to management consulting, and the experiences that shaped his understanding of meaningful work. He discusses the impact of 9/11 on people's perceptions of work and life, and how the pandemic has similarly prompted many to reassess their professional and personal priorities. The conversation touches on the philosophical aspects of work, the balance between job, career, and calling, and the inherent trade-offs in pursuing meaningful work. In this episode, you will learn: The philosophical questions that drive our understanding of work's meaning. How significant events like 9/11 and the pandemic shape our perceptions of work. The balance between job, career, and calling, and their impact on our lives. The concept of "transfer pricing" in personal and professional life. Strategies for finding balance and fulfillment in your work. Show Notes: 00:00:00 - Introduction, Melina introduces Christopher Wong Michelson, co-author of Is Your Work Worth It? and sets the stage for a discussion on the philosophical aspects of work. 00:02:30 - Christopher's Background and Journey Christopher shares his journey from academia to management consulting and his experiences at PwC and various academic institutions. 00:10:45 - The Impact of 9/11 and the Pandemic Discussion on how significant events like 9/11 and the pandemic have prompted people to reassess their work and life priorities. 00:18:32 - The Question of Work's Worth Christopher delves into the central question of the book, Is Your Work Worth It? and the importance of finding meaning in work. 00:25:54 - Job, Career, and Calling Exploration of the different orientations towards work and the trade-offs involved in pursuing a calling. 00:34:06 - Transfer Pricing in Personal and Professional Life Christopher explains the concept of transfer pricing and how it can be applied to balance personal and professional investments. 00:40:22 - Finding Balance and Fulfillment Strategies for incorporating meaningful activities into your work and life to achieve balance and fulfillment. 00:46:15 - Advice for Organizational Leaders Tips for leaders on how to create meaningful work environments that encourage employees to find value and purpose in their roles. 00:50:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Christopher: LinkedIn Christopher’s Website Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Happier Hour, by Cassie Holmes Is Your Work Worth It?, by Christopher Wong Michaelson and Jennifer Tosti-Kharas Top Recommended Next Episode: Nick Hobson Interview (ep 382) Already Heard That One? Try These:  Habits (ep 256) Status Quo Bias (ep 376) Tapping into the Power of Habit (ep 368) Wendy Wood Interview (ep 428) Sludge (ep 384) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Katy Milkman to discuss the intricacies of creating lasting behavior change. Katy, a professor at the Wharton School and co-director of the Behavior Change for Good Initiative, shares insights from her book How to Change. Melina and Katy discuss fresh starts, temptation bundling, and the importance of understanding the underlying barriers to change. They also cover the surprising benefits of giving advice to others as a means of boosting one's own confidence and motivation. Through engaging stories and practical examples, Katy illustrates how small, thoughtful interventions can lead to significant improvements in behavior and outcomes. In this episode: Explore the concept of fresh starts and how they can motivate behavior change. Understand the power of temptation bundling to create lasting habits. Learn about the psychological benefits of giving advice to others. Discover the importance of identifying the right barriers to change for effective interventions. Gain insights into Katy Milkman's research and practical applications for behavior change. Show Notes: 00:00:00 - Introduction Melina introduces the episode and the topic of behavior change with Dr. Katy Milkman. 00:04:30 - Katy Milkman's Background Katy shares her background, her role at the Wharton School, and her work on the Behavior Change for Good Initiative. 00:09:45 - Fresh Starts Katy discusses the concept of fresh starts and how they can be leveraged to motivate behavior change. 00:15:20 - Temptation Bundling Melina and Katy explore the idea of temptation bundling and its effectiveness in creating lasting habits. 00:21:18 - Giving Advice to Others Katy explains the surprising benefits of giving advice to others and how it can boost one's own confidence and motivation. 00:27:54 - Identifying Barriers to Change The conversation shifts to the importance of identifying the right barriers to change for effective interventions. 00:34:06 - Real-World Applications Katy provides examples of how her research can be applied in real-world scenarios to improve behavior and outcomes. 00:40:22 - The Role of Mindset The discussion highlights the role of mindset in achieving behavior change and the power of believing in oneself. 00:46:15 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Katy: Katy’s Website Behavior Change for Good Initiative Katy on Twitter Katy on LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Happier Hour, by Cassie Holmes Thinking Fast and Slow, by Daniel Kahneman Top Recommended Next Episode: Temptation Bundling (ep 250) Already Heard That One? Try These:  Habits (ep 256) Status Quo Bias (ep 376) Tapping into the Power of Habit (ep 368) Wendy Wood Interview (ep 428) Sludge (ep 384) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this  episode of The Brainy Business podcast, host Melina Palmer welcomes Scott H. Young, the Wall Street Journal bestselling author of Ultralearning and Get Better at Anything. Scott shares his extensive insights into learning, cognitive science, and the psychology behind mastering new skills. Known for his MIT Challenge and year-long language learning adventure, Scott discusses the importance of immersive learning, repetitive practice, and the role of feedback in achieving fluency and proficiency. Scott delves into the fascinating world of how we learn and improve, emphasizing the significance of learning from others, the challenges of problem-solving, and the necessity of focused practice. He also touches on the concept of "desirable difficulties" and how they enhance long-term retention and skill mastery. This episode is a treasure trove for anyone looking to understand the mechanics of learning and how to apply these principles to get better at anything. In this episode: Discover the key components of effective learning: See, Do, and Feedback. Understand the importance of repetitive practice and immersion in mastering new skills. Learn about the concept of "desirable difficulties" and how they improve long-term retention. Explore the role of feedback in learning and how to create environments that foster expertise. Gain insights into the psychological aspects of learning and overcoming common barriers. Show Notes: 00:00:00 - Introduction Melina introduces Scott and highlights his background and work in the field of learning and cognitive science. 00:03:30 - Scott's Background and Projects Scott shares his journey and notable projects, including the MIT Challenge and his year-long language-learning adventure. 00:11:20 - The Importance of Immersion Scott discusses the benefits of immersive learning and how it accelerates fluency and proficiency. 00:21:45 - Repetitive Practice and Fluency The conversation explores the role of repetitive practice in achieving fluency and the difference between fluency and overall proficiency. 00:31:10 - Desirable Difficulties Scott explains the concept of "desirable difficulties" and how they enhance learning and retention. 00:41:00 - The Role of Feedback The discussion highlights the importance of feedback in learning and how to create environments that foster expertise. 00:45:00 - Practical Tips for Learning Scott offers practical advice for applying these learning principles to various skills, including public speaking and business. 00:47:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Scott: LinkedIn X  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Get Better at Anything, by Scott H. Young Ultralearning, by Scott H. Young and James Clear Top Recommended Next Episode: How to Set, Achieve and Exceed Brainy Goals (ep 70) Already Heard That One? Try These:  Habits (ep 256) Status Quo Bias (ep 376) Katy Milkman Interview (ep 151) Tapping into the Power of Habit (ep 368) Wendy Wood Interview (ep 428) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer revisits her insightful conversation with Dr. Wendy Wood, author of Good Habits, Bad Habits. This episode dives deep into the psychology behind habits, exploring how they are formed, maintained, and changed. Wendy, a leading expert in behavioral science, shares practical tips and research-backed strategies to help you understand and harness the power of habits in your personal and professional life. Melina and Wendy discuss the foundational role habits play in our daily routines and decision-making processes. They emphasize the importance of recognizing both good and bad habits and provide actionable advice on how to reinforce the positive ones while mitigating the negative. The episode is packed with real-world examples, including how small changes in environment and behavior can lead to significant improvements in habit formation and maintenance. In this episode: Understand the basics of habit formation and the role of context and rewards. Learn strategies to make good habits easier and bad habits harder. Explore practical examples of habit changes, such as altering morning routines and fitness habits. Discover the impact of environmental cues on habitual behavior. Gain insights into how businesses can leverage habit science to improve customer engagement and satisfaction. Show Notes: 00:00:00 - Introduction Melina introduces the episode and highlights the importance of understanding habits in both personal and professional contexts. 00:04:12 - The Role of Habits Wendy explains the foundational role of habits in our daily lives and how they operate on an unconscious level. 00:09:30 - Context and Rewards Discussion on how habits are formed through context and rewards, with examples like morning coffee routines. 00:15:20 - Disruption and Opportunity The impact of the COVID-19 pandemic on habits and how disruptions can create opportunities for new habit formation. 00:21:45 - Practical Strategies Tips for making good habits easier and bad habits harder, including environmental adjustments and rewarding behaviors. 00:30:10 - Habit Formation in Business How businesses can leverage habit science to improve customer engagement and satisfaction, with examples from retail and fitness industries. 00:40:00 - Case Studies and Research Wendy shares intriguing case studies and research findings on habit formation and change. 00:50:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Wendy: Wendy Wood at USC Marshall Wendy on Twitter Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Good Habits, Bad Habits, by Wendy Wood Indistractable, by Nir Eyal How to Change, by Katy Milkman Happier Hour, by Cassie Holmes Thinking Fast and Slow, by Daniel Kahneman Top Recommended Next Episode: Michael Norton Interview (ep 383) Already Heard That One? Try These:  Habits (ep 256) Status Quo Bias (ep 376) Katy Milkman Interview (ep 151) Tapping into the Power of Habit (ep 368) Sludge (ep 384) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, host Melina Palmer welcomes Nobel Prize winner Dr. Bob Lefkowitz for an insightful discussion on mentorship, focus, and the power of saying no. Dr. Lefkowitz, a distinguished professor at Duke University Medical Center, shares his journey from a passionate physician to a Nobel laureate in Chemistry, highlighting the impact of his research. Dr. Lefkowitz delves into the importance of mentorship, recounting his own experiences and the significance of his mentee, Brian Kobilka, with whom he shared the Nobel Prize. He emphasizes the value of asking good questions, being thoughtful, and the crucial skill of focusing like a laser on what truly matters. This episode is packed with wisdom on how to balance stubborn pursuit with strategic decision-making in both scientific research and business. In this episode: Understand the significance of mentorship and how it shapes successful careers. Discover the importance of focus and saying no to distractions. Gain insights into the power of storytelling and synthesizing data. Explore practical advice for fostering creativity and seeing things from different perspectives. Show Notes: 00:00:00 - Introduction Melina introduces Nobel Prize winner Dr. Bob Lefkowitz, highlighting his distinguished career and contributions to science and medicine. 00:04:30 - Dr. Lefkowitz's Background Dr. Lefkowitz shares his journey from aspiring physician to Nobel laureate, detailing his research on G protein-coupled receptors. 00:10:15 - The Importance of Focus Dr. Lefkowitz discusses the critical role of focus in achieving success and how he developed this skill over his career. 00:15:45 - Mentorship and Its Impact The conversation shifts to mentorship, with Dr. Lefkowitz sharing his thoughts on what makes a great mentor and the legacy of training successful scientists. 00:25:00 - Storytelling in Science Dr. Lefkowitz emphasizes the power of storytelling in presenting scientific data and making impactful discoveries. 00:30:20 - The Power of Saying No Dr. Lefkowitz provides practical advice on how to say no to distractions and focus on what truly matters. 00:35:50 - Creativity and Humor The discussion highlights the role of creativity and humor in scientific discovery and problem-solving. 00:45:00 - Closing Thoughts Melina and Dr. Lefkowitz wrap up the conversation, reflecting on the key takeaways and the importance of thoughtful mentorship. 00:50:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Dr. Lefkowitz:  LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer The Ultimate Guide to Great Mentorship, by Scott Miller Mentoring, by Dr. Ruth Gotian and Andy Lopata A Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D. The Speed of Trust, by Stephen M.R. Covey Top Recommended Next Episode: Ruth Gotian Interview (ep 419) Already Heard That One? Try These:  Vulnerability Loops (ep 229) Unity (ep 216) Scott Miller Interview (ep 69) Confirmation Bias (ep 260) Focusing Illusion (ep 330) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer explores the concept of defaults, how they impact our decisions, and the critical role they play in business and everyday life.  Melina discusses the omnipresence of defaults and how they influence our choices, often without us even realizing it. She explains the concept of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. Using examples from retirement savings to organ donation, Melina illustrates the power of defaults and the importance of thoughtful choice architecture in both personal and business contexts. In this episode: Understand the pervasive influence of defaults in everyday decisions. Learn about status quo bias and its impact on behavior. Explore practical examples of defaults in various contexts, including retirement savings and organ donation. Discover the ethical considerations in setting defaults and choice architecture. Gain insights into how to design better defaults to help customers and employees make beneficial choices. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and the topic of defaults, highlighting its relevance to her upcoming conversation with Nobel laureate Dr. Bob Lefkowitz. 03:15 - The Omnipresence of Defaults Melina discusses how defaults are everywhere and influence nearly every decision we make, often without us realizing it. 08:30 - Status Quo Bias An exploration of status quo bias and how it makes us more likely to stick with default options, even when they may not be in our best interest. 15:45 - Retirement Savings Example Melina uses the example of retirement savings to illustrate the power of defaults and how different default options can significantly impact behavior. 22:00 - Organ Donation Study A discussion on the ethical considerations of defaults using the example of organ donation and how opt-in vs. opt-out policies affect donation rates. 29:15 - Practical Business Applications Melina provides practical advice on how businesses can use defaults to help customers and employees make better choices, emphasizing the importance of ethical considerations. 36:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: A Funny Thing Happened on the Way to Stockholm, by Robert J. Lefkowitz M.D. What Your Customer Wants and Can't Tell You, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein Thinking Fast and Slow, by Daniel Kahneman What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Status Quo Bias (ep 376) Already Heard That One? Try These:  Unlocking the Secrets of the Brain (ep 1) Framing (ep 296) Priming (ep 252) NUDGES and Choice Architecture: Introduction (ep 35) Habits (ep 256) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer and Christopher Frank, Chief Client Officer at PSB Insights, dive into the art of decision-making in a data-driven world. Christopher, who has a rich background with industry giants like American Express and Microsoft, shares his expertise in leveraging consumer insights to gain a competitive edge. As a thought leader in critical thinking and decision science, he offers valuable perspectives on how to ask the right questions and interpret data for smarter business decisions. Christopher’s insights are not only theoretical but also practical, drawn from his extensive experience and his acclaimed books, Drinking from the Fire Hose and Decisions Over Decimals. He emphasizes the importance of starting with the right questions to truly understand the problem at hand and how to make decisions that are both informed and intuitive. His approach to synthesizing data with judgment offers a fresh perspective on navigating the overwhelming amount of information available today. In this episode: Uncover the power of asking the right questions to make better decisions. Learn how to leverage data and intuition to drive business strategy. Discover the importance of context in interpreting data points. Explore the concept of "quantitative intuition" and how it can be developed. Understand the role of culture in fostering an environment that thrives on data-driven decisions. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Christopher Frank and highlights his extensive experience in data analytics and decision science. 00:04:12 - Christopher Frank's Background Christopher shares his journey through American Express, Microsoft, and his current role at PSB Insights, emphasizing his focus on leveraging data for smarter decisions. 00:09:35 - The Importance of Asking Questions Christopher discusses the value of starting with questions to understand the problem and make better decisions, sharing some of his favorite questions to ask. 00:16:28 - The Power of "What Surprised You?" Christopher explains how asking "What surprised you?" can unlock valuable insights and create a safe learning environment. 00:22:50 - Case Study: Outliers in Data Christopher shares a compelling story about how investigating outliers in customer satisfaction data led to significant business insights and strategic decisions. 00:30:17 - Moments of Truth in Consumer Behavior Christopher talks about identifying and understanding the critical moments that matter to consumers and how they can shape business strategies. 00:35:42 - Summary vs. Synthesis Christopher explains the difference between summarizing data and synthesizing it with judgment to make informed decisions. 00:40:05 - The Context Triangle Christopher introduces the concept of the context triangle and how it helps in interpreting data points from multiple perspectives. 00:41:05 - Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Christopher: Christopher on LinkedIn Christopher on X  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer May Contain Lies, by Alex Edmans A More Beautiful Question, by Warren Berger What Your Customer Wants and Can't Tell You, by Melina Palmer Drinking from the Fire Hose, by Christopher Frank and Paul Magnone Top Recommended Next Episode: The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Already Heard That One? Try These:  Framing (ep 296) Felicity Heathcote-Marcz Interview (ep 324) Warren Berger Interview (ep 340) Alex Edmans Interview (ep 423) Beatrix Daros Interview (ep 424) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer explores the power of questions in project scoping with Beatrix Daros. Originally aired in 2022, this episode revisits their collaborative work from 2019, focusing on leveraging behavioral economics to enhance project outcomes. Beatrix emphasizes the importance of balancing technology with deep human connections, a principle she applied while working on Mars' KIND brand. As you listen, consider how clearly Beatrix articulates their value proposition and approach, and think about how this clarity can be applied to your own business practices. Beatrix shares insights on the global differences in snacking habits and health perceptions, the role of ethnographic studies, and the significant impact of regulatory changes on product placement and marketing strategies. The episode also delves into the innovative use of virtual reality for consumer testing during the pandemic, highlighting how technology can expedite and enhance research processes. This episode is packed with valuable lessons on using behavioral science and technology to drive successful project outcomes. In this episode: Discover the impact of asking the right questions to scope projects effectively. Learn about the global differences in snacking habits and health perceptions. Explore the use of virtual reality and technology in consumer research. Understand the importance of balancing technology with deep human connections. Gain insights into navigating regulatory changes and their impact on marketing strategies. Show Notes: 00:00:00 - Introduction, Melina introduces the episode and guest, Beatrix Daros, highlighting their collaborative work on leveraging behavioral science for project scoping. 00:06:07 - Beatrix Daros' Background Beatrix shares her career journey at Mars and her role in consumer intelligence, focusing on the KIND brand. 00:10:40 - Global Snacking Habits Beatrix discusses the differences in snacking habits and health perceptions across various countries, emphasizing the importance of ethnographic studies. 00:15:34 - Regulatory Challenges Beatrix explains the impact of regulatory changes, such as the HFSS regulation in the UK, on product placement and marketing strategies. 00:20:21 - Behavioral Science and Questionstorming Melina and Beatrix discuss the importance of using behavioral science and questionstorming to scope projects effectively and align team members. 00:24:15 - Ethnographic Studies Beatrix elaborates on the role of ethnographic studies in understanding consumer behavior and preferences. 00:28:57 - Virtual Reality in Consumer Research Beatrix shares how Mars leveraged virtual reality for consumer testing during the pandemic, highlighting its efficiency and effectiveness. 00:31:48 - Technology and Human Connection Discussion on balancing the use of technology with maintaining deep human connections in consumer research. 00:35:51 - Deep Human Connection Beatrix elaborates on KIND's focus on deep human connections and how it influences their approach to consumer engagement and product development. 00:39:22 - Future of Insights Beatrix discusses the future of consumer insights, emphasizing the balance between technology and human connection. 00:47:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Beatrix: Beatrix on LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: A More Beautiful Question, by Warren Berger Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer What Your Customer Wants and Can’t Tell You (ep 147) Alchemy, by Rory Sutherland Both/And Thinking, by Wendy Smith and Marianne Lewis Top Recommended Next Episode: Warren Berger Interview (ep 340) Already Heard That One? Try These:  Greta Harper Interview (ep 207) Sarah Wilson Interview (ep 206) Framing (ep 296) Questions or Answers? (ep 4) The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter KIND Website

In this episode of The Brainy Business podcast, Melina Palmer welcomes Alex Edmans, author of May Contain Lies, to discuss the fascinating intersection of finance, behavioral economics, and misinformation. Alex, a professor of finance at London Business School with a Ph.D. from MIT, delves into the impact of emotions on the stock market, using intriguing examples from his research, including the emotional effects of international sports results on stock market behavior.  Throughout the conversation, Alex and Melina explore the broader implications of emotional influences on decision-making in both personal finance and business contexts. They discuss the dangers of confirmation bias and black-and-white thinking, and Alex offers practical steps to overcome these biases. He also introduces his concept of the "ladder of misinference," illustrating how statements, facts, data, and evidence can be misinterpreted or misrepresented, leading to misleading conclusions. In this episode: Understanding the emotional impact of sports results on the stock market. The broader implications of emotional influences on decision-making. The dangers of confirmation bias and black-and-white thinking. Practical steps to overcome biases and make informed decisions. The "ladder of misinference" and avoiding missteps in interpreting data. Show Notes: 00:00:00 - Introduction Melina introduces Alex Edmans, author of May Contain Lies, and outlines the episode's focus on emotions, decision-making, and misinformation. 00:01:45 - Alex's Background Alex shares his background in finance and behavioral economics, emphasizing his passion for conveying academic insights to a general audience. 00:06:10 - Dissertation Research Alex discusses his dissertation on the impact of emotions, particularly sports results, on the stock market, highlighting the significant emotional effects on trading behavior. 00:12:55 - Broader Implications Melina and Alex explore the broader implications of emotional influences on decision-making in personal finance and business, emphasizing the importance of acknowledging and managing emotions. 00:19:15 - Confirmation Bias Alex explains confirmation bias and its impact on how people respond to evidence and data, using examples from sustainable investing and other fields. 00:26:30 - Black-and-White Thinking Alex introduces black-and-white thinking as a twin bias to confirmation bias, illustrating how extreme viewpoints can overshadow nuanced understanding. 00:34:45 - Ladder of Misinference Alex outlines the "ladder of misinference," explaining how statements, facts, data, and evidence can be misinterpreted, leading to misleading conclusions. 00:43:10 - Practical Tips for Individuals Alex offers practical tips for individuals to overcome biases, including imagining the opposite result to challenge confirmation bias. 00:46:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Alex: Alex on X  Alex on LinkedIn   Alex’s Website Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Foolproof, by Sander van der Linden May Contain Lies, by Alex Edmans How Minds Change, by David McRaney Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Confirmation Bias (ep 260) Already Heard That One? Try These:  Sander van der Linden Interview (ep 337) Focusing Illusion (ep 330) Survivorship Bias (ep 400) Christian Madsbjerg Interview (ep 325) David McRaney Interview (ep 210) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter TED: What to Trust in a “Post Truth” World TEDx: The Pie Growing Mindset

In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of lazy brain biases. This episode is part of an eight-part series exploring various biases, focusing on how our brains prefer to take the path of least resistance. This rapid-fire episode provides a brief overview of each bias, helping you understand their roles, interactions, and impacts on decision-making. Melina refreshes this episode in anticipation of her upcoming interview with Alex Edmonds about his book May Contain Lies, which discusses misinformation and the importance of understanding information responsibly. Lazy brain biases play a significant role in how we process and accept information, making this episode a perfect primer for the conversation with Alex. In this episode: Discover how the default effect influences our choices. Learn about the decoy effect and its impact on decision-making. Understand the automation bias and its implications in a tech-driven world. Explore the law of the instrument and functional fixedness. Gain insights into framing, anchoring, and the contrast effect. Examine biases and their influence on decision-making. Identify how surrogation and Parkinson's Law of Triviality affect business decisions. Learn strategies to push your brain’s limits and overcome lazy tendencies. Show Notes: 00:00:00 - Introduction Melina introduces the episode and its focus on lazy brain biases, part of an eight-part series on biases. 00:02:30 - Default Effect Melina discusses the default effect, where people tend to choose the default option presented to them. 00:04:00 - Decoy Effect The decoy effect is explained with examples from espresso machines and The Economist subscription options. 00:06:00 - Automation Bias Melina talks about our excessive dependence on automated systems and the importance of checking their effectiveness. 00:07:30 - Law of the Instrument and Functional Fixedness These biases are discussed with examples like the Apollo 13 mission. 00:09:00 - Framing and Anchoring Melina explains how framing and anchoring influence our decisions, with links to related episodes. 00:10:30 - Contrast Effect The impact of priming and previously presented information on decision-making is discussed. 00:12:00 - Biases Melina explains how our senses influence our external decisions, using judges' sentencing patterns as an example. 00:13:30 - Ambiguity Effect and Action Bias These biases are explored with examples from medical decisions and soccer goalies. 00:15:00 - Stereotyping and Illicit Transference Melina discusses how our brains make assumptions about groups and individuals. 00:16:30 - Surrogation The concept of surrogation is explained with an example of customer satisfaction surveys. 00:18:00 - Parkinson's Law of Triviality Also known as bikeshedding, this bias is discussed with examples from pricing strategies. 00:19:30 - Lag Effect and Levels of Processing Melina talks about effective learning strategies and how to trick your lazy brain into focusing. 00:21:00 - List Length Effect The impact of list length on memory is discussed, encouraging listeners to push their brain's limits. 00:22:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: May Contain Lies, by Alex Edmans Thinking Fast and Slow, by Daniel Kahneman Nudge, by Richard Thaler & Cass Sunstein What Your Customer Wants and Can't Tell You, by Melina Palmer Evolutionary Ideas, by Sam Tatam Top Recommended Next Episode: Functional Fixedness (ep 194) Already Heard That One? Try These:  Anchoring & Adjustment (ep 394) Bikeshedding (ep 99) Priming (ep 252) Color Theory (ep 61) 5 Things Your Business Must Learn From NASA (ep 57) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter The Greatest Space Hack Ever This Is the Actual Hack That Saved the Astronauts of the Apollo XIII Apollo Expeditions to the Moon – A Square Peg in a Round Hole Action Bias Among Elite Soccer Goalkeepers: the Case of Penalty Kicks Action Bias and Environmental Decisions The Inaction Effect in the Psychology of Regret

In this episode of The Brainy Business podcast, Melina Palmer is joined by Beatriz Vallejo, CEO of Ethos BT, to discuss the impactful work of reducing misinformation and polarization in Colombia using behavioral science. Beatriz, a behavioral scientist and economist, shares her journey from studying economics in Colombia to completing a master's in behavioral change at UCL, focusing on the factors that lead to the belief and spread of fake news. The conversation visits her extensive research on misinformation, the psychological factors influencing it, and the innovative Detox Information Project aimed at mitigating these issues. Beatriz highlights the importance of understanding psychological factors like dehumanization, distrust, discrimination, and low tolerance to ambiguity, which contribute to the spread of misinformation. The episode also explores the success of various interventions, including personality tests and social experiment videos, which have proven to reduce misinformation vulnerability by 30%. This episode is a treasure trove of insights for anyone interested in behavioral science, misinformation, and societal improvement, showcasing the significant impact of behavioral interventions in real-world settings. In this episode: Discover the psychological factors contributing to misinformation and polarization in Colombia. Learn about the Detox Information Project and its innovative approach to reducing fake news. Understand the importance of research and data in designing effective behavioral interventions. Gain insights into the challenges and successes of applying behavioral science in diverse contexts. Get inspired by Beatriz Vallejo's journey and her impactful work in behavioral science. Show Notes: 00:00:00 - Introduction Melina introduces Beatriz Vallejo, CEO of Ethos BT, and highlights her work in behavioral science and misinformation. 00:05:20 - Beatriz's Background Beatriz shares her academic journey from studying economics in Colombia to completing a master's in behavioral change at UCL. 00:10:45 - Initial Research on Fake News Beatriz discusses her master's thesis on the psychological factors related to believing and sharing fake news in Colombia. 00:15:30 - The Detox Information Project Beatriz introduces the Detox Information Project, aimed at reducing misinformation through behavioral science interventions. 00:20:15 - Key Psychological Factors Beatriz explains the four psychological factors—dehumanization, distrust, discrimination, and low tolerance to ambiguity—that contribute to misinformation vulnerability. 00:25:50 - Effective Interventions Beatriz discusses the success of personality tests and social experiment videos in reducing misinformation vulnerability by 30%. 00:30:35 - Challenges in Behavioral Science Beatriz shares the challenges of convincing stakeholders to invest in research and the importance of understanding the problem before designing solutions. 00:35:50 - Tips for Aspiring Behavioral Scientists Beatriz offers advice for those looking to make an impact in behavioral science, emphasizing the importance of networking and continuous learning. 00:40:25 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Beatriz: Beatriz on LinkedIn Detox Information Project Beatriz on X  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Foolproof, by Sander van der Linden May Contain Lies, by Alex Edmans The Voltage Effect, by John List Decisions Over Decimals, by Christopher Frank, Paul Magnone and Oded Netzer What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Carlos Hoyos Interview (ep 285) Already Heard That One? Try These:  Sander van der Linden Interview (ep 337) BE OEFA Interview (ep 195) Ambiguity / Uncertainty Aversion (ep 243) Confirmation Bias (ep 260) The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 419 of The Brainy Business podcast, Dr. Ruth Gotian, co-author of the Financial Times Guide to Mentoring, shares her extensive expertise on mentorship and leadership development with host Melina Palmer. Ruth, who serves as the Chief Learning Officer and Associate Professor of Education in Anesthesiology at Weill Cornell Medicine, is a globally recognized expert in mentorship, hailed by institutions like Nature, Wall Street Journal, and Columbia University. She discusses the vital role of mentorship in achieving success and the importance of having a team of mentors to guide and support high achievers. Throughout the conversation, Ruth delves into the four elements of success from her book, The Success Factor, and emphasizes the significance of intrinsic motivation, overcoming challenges, continuous learning, and the power of mentorship. She also provides practical insights into the differences between mentors, coaches, role models, and sponsors, and how each plays a unique role in personal and professional development. This episode is packed with valuable takeaways for anyone looking to enhance their success through effective mentorship and leadership strategies. In this episode: Understand the four key elements of success for high achievers. Differentiate between mentors, coaches, role models, and sponsors. Learn how to effectively seek and engage with mentors. Implement successful mentorship programs within organizations. Recognize the benefits of both being a mentor and having a mentor. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Dr. Ruth Gotian and sets the stage for an insightful conversation on mentorship and leadership development. 00:01:30 - Ruth's Background Ruth shares her background and journey, including her roles at Weill Cornell Medicine and her recognition as a top mentor and emerging management thinker. 00:04:20 - The Success Factor Ruth discusses the four elements of success found in high achievers: intrinsic motivation, overcoming challenges, continuous learning, and mentorship. 00:10:15 - Mentorship and Its Importance The conversation explores the critical role of mentorship in achieving success and how high achievers leverage mentors to guide and support them. 00:14:45 - Differentiating Mentorship Roles Ruth explains the differences between mentors, coaches, role models, and sponsors, and the unique contributions each makes to personal and professional growth. 00:19:30 - Effective Mentorship Strategies Practical advice on how to seek out mentors, engage with them effectively, and the importance of being specific and time-bound in mentorship requests. 00:24:00 - Organizational Mentorship Programs Tips for implementing successful mentorship programs within organizations, including the benefits of group mentoring and creating opportunities for organic mentor-mentee matches. 00:30:10 - Reverse Mentoring and Continuous Learning The concept of reverse mentoring and how both mentors and mentees can learn from each other, fostering a culture of continuous learning and development. 00:35:20 - The Value of Networking and Building Relationships Ruth shares insights on the importance of networking, asking good questions, and building meaningful relationships through thoughtful engagement. 00:40:05 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Ruth: Ruth on LinkedIn Ruth on X Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: The Ultimate Guide to Great Mentorship, by Scott Miller The Success Factor, by Ruth Gotian Mentoring, by Dr. Ruth Gotian and Andy Lopata What Your Employees Need and Can't Tell You, by Melina Palmer Let’s Talk, by Therese Huston Top Recommended Next Episode: Scott Miller Interview (ep 307) Already Heard That One? Try These:  Kurt Nelson Interview (ep 187) Reciprocity (ep 238) Adjusting Your Mindset — Overcome Imposter Syndrome (ep 306) Scott Miller Interview (ep 307) Survivorship Bias (ep 400) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Conversations with Ruth Gotian

In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of personal biases, exploring how our brains are wired to perceive ourselves and the world around us. This episode, originally aired in April 2019, provides a rapid-fire overview of various biases that impact our personal and professional lives. Melina discusses optimism bias, planning fallacy, naive realism, false consensus effect, and more, offering insights into how these biases shape our decisions and interactions. Through practical examples and relatable anecdotes, Melina helps listeners understand the complexities of their own biases and how to leverage this knowledge for better decision-making and improved interactions with others. Listeners will gain valuable insights into the importance of recognizing and addressing personal biases, and how doing so can lead to greater success in both personal and professional contexts. This episode serves as a comprehensive guide to understanding the hidden forces that influence our thoughts and actions, making it a must-listen for anyone looking to enhance their self-awareness and communication skills. In this episode: Identify and understand various personal biases and their impact on decision-making and interactions. Leverage knowledge of biases like optimism bias and planning fallacy to set realistic goals and expectations. Improve communication and collaboration by recognizing and addressing biases such as naive realism and false consensus effect. Utilize insights from biases to enhance marketing strategies and customer interactions. Foster better relationships and teamwork by acknowledging and mitigating the influence of biases like egocentric bias and social comparison bias. Show Notes: 00:00:00 - Introduction Melina introduces the topic of personal biases and sets the stage for a deep dive into how these biases affect our lives and careers. 00:02:00 - Optimism Bias Discussion on optimism bias and how it leads people to believe they are more likely to experience positive outcomes than others. 00:04:00 - Planning Fallacy Exploration of planning fallacy, the tendency to underestimate how long tasks will take, and its implications in personal and professional settings. 00:06:00 - Naive Realism Melina explains naive realism, the belief that we see the world objectively while others are biased, and its impact on communication and collaboration. 00:08:00 - False Consensus Effect Examination of the false consensus effect, where people overestimate how much others agree with them, and strategies to overcome it. 00:10:00 - Illusion of Asymmetric Insight Discussion on the illusion of asymmetric insight, where individuals believe they understand others better than others understand them. 00:12:00 - Illusion of Transparency Melina explores the illusion of transparency, where people overestimate how well they understand others and are understood in return. 00:14:00 - False Uniqueness Bias Analysis of false uniqueness bias, where individuals believe their experiences and problems are unique compared to others. 00:16:00 - Forer Effect Introduction to the Forer effect, also known as the Barnum effect, where people believe vague, general statements are highly accurate for them. 00:18:00 - Illusion of Control Discussion on the illusion of control, the tendency to overestimate one's influence over external events, and its impact on behavior and decision-making. 00:20:00 - Egocentric Bias Exploration of egocentric bias, where individuals believe they do more work than others, and strategies for overcoming it. 00:22:00 - Social Comparison Bias Examination of social comparison bias, where individuals favor candidates who are not in direct competition with their own strengths. 00:24:00 - Spotlight Effect Discussion on the spotlight effect, where people overestimate how much others notice their appearance or behavior. 00:26:00 - Overconfidence Effect Melina explains the overconfidence effect, where people are more certain in their answers than they should be, and its implications in business. 00:28:00 - Pro Innovation Bias Analysis of pro innovation bias, where individuals have excessive optimism about their innovations or products. 00:30:00 - Hindsight Bias and Post Purchase Rationalization Discussion on hindsight bias and post-purchase rationalization, where individuals justify their decisions after the fact. 00:32:00 - Choice Supportive Bias and Illusion of External Agency Examination of choice supportive bias and illusion of external agency, where people believe their choices were more informed than they were. 00:34:00 - Illusion of Validity and Conservatism Belief Revision Melina explores the illusion of validity and conservatism belief revision, where individuals stick to their beliefs despite new evidence. 00:36:00 - Continued Influence Effect Discussion on the continued influence effect, where people continue to believe misinformation even after it has been corrected. 00:38:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Happier Hour, by Cassie Holmes You Have More Influence Than You Think, by Vanessa Bohns What Your Employees Need and Can't Tell You (ep 225) Mentoring, by Dr. Ruth Gotian and Andy Lopata The Success Factor, by Ruth Gotian Top Recommended Next Episode: Planning Fallacy (ep 346) Already Heard That One? Try These:  Optimism Bias (ep 34) What Your Employees Need and Can't Tell You (ep 225) Biases Toward Others (Including Groups) (ep 314) Vanessa Bohns Interview (ep 318) Hindsight Bias (ep 396) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Exploring the “Planning Fallacy”: Why People Underestimate Their Task Completion Times Five Most Daunting NFL Stadiums for Visiting Teams Scarlett Johansson & Brie Larson Play ‘Who Saves the World? Girls!’ The Trouble With Overconfidence

In episode 417 of The Brainy Business podcast, Melina Palmer interviews Justin Jones-Fosu, author of I Respectfully Disagree. Justin, the CEO of Work Meaningful, is a dynamic speaker and thought leader on topics of meaningful work and inclusion, delivering over 50 keynote addresses annually. His latest book delves into navigating difficult conversations in a divided world, a theme central to today’s discussion. Throughout the episode, Justin shares his insights on creating meaningful work environments and the importance of respectful disagreement. He emphasizes the significance of individuals finding meaning in their work, rather than relying solely on organizational missions. Justin introduces the 3 Rhythm Model, focusing on perspective, tasks, and relationships as key ways to bring meaning to work. He also addresses the concept of respectful disagreement, encouraging healthy conflict and curiosity within teams to foster better outcomes and innovation. In this episode: Discover the 3 Rhythm Model to bring meaning to your work. Learn how to create a culture of respectful disagreement in the workplace. Understand the importance of modeling and rewarding healthy conflict. Explore practical tips for challenging your perspective and engaging with diverse viewpoints. Gain insights into cognitive reframing and the value of hearing real stories. Show Notes: 00:00:00 - Introduction Melina introduces Justin Jones-Fosu and his work on meaningful work and respectful disagreement. 00:02:15 - Justin's Background Justin shares his journey, including his role as CEO of Work Meaningful and his latest book, I Respectfully Disagree. 00:06:30 - Meaningful Work Defined Justin explains the concept of meaningful work and the 3 Rhythm Model: perspective, tasks, and relationships. 00:12:45 - Individual vs. Organizational Meaning The focus shifts to how individuals can find meaning in their work, regardless of the organization's mission. 00:16:20 - The Greenhouse Effect Justin discusses the role of leaders in creating environments that foster meaningful work and engagement. 00:21:00 - Respectful Disagreement Transitioning to the topic of respectful disagreement, Justin explains the benefits of healthy conflict and curiosity in teams. 00:25:10 - Practical Tips for Leaders Justin provides actionable advice for leaders on modeling, rewarding, and seeking out disagreement. 00:27:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Justin: Justin’s Website How to Respectfully Disagree Justin on LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: I Respectfully Disagree, by Justin Jones-Fosu Finding Confidence in Conflict, by Kwame Christian Let’s Talk, by Therese Huston Powerful Phrases for Dealing with Workplace Conflict, by Karin Hurt and David Dye What Your Employees Need and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Kwame Christian Interview (ep 221) Already Heard That One? Try These:  Focusing Illusion (ep 89) Confirmation Bias (ep 260) Framing (ep 296) Therese Huston Interview (ep 381) Karin Hurt Interview (ep 393) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer dives into the intricacies of motivation, exploring how our brains can both get and stay motivated. This episode is designed  to help you understand the psychological underpinnings of motivation, including the impact of behavioral economics concepts like loss aversion, habits, and framing. Whether you're aiming for personal development or looking to integrate these insights into your business strategies, this episode has you covered. Melina shares personal stories, including her journey with running, to illustrate the principles of intrinsic and extrinsic motivation. She also evaluates popular fitness apps like Couch to 5K and Runkeeper, discussing their effectiveness in motivating users and suggesting improvements based on behavioral science. The episode is rounded out with actionable tips for hacking your own motivation, making it a must-listen for anyone eager to achieve their goals. In this episode: Learn the difference between intrinsic and extrinsic motivation and how to leverage both. Discover the role of behavioral economics in motivation, including concepts like loss aversion and framing. Get insights into popular fitness apps and how they can either encourage or discourage motivation. Gain actionable tips for setting and achieving your goals by understanding your brain's rules around mindset. Explore practical examples of how to flip the script on your motivation blocks. Show Notes: 00:00:00 - Introduction Melina introduces the episode's focus on motivation and its psychological aspects. 00:02:00 - Personal Journey Melina shares her personal story about running and how it ties into motivation. 00:06:00 - The Science of Motivation An overview of the scientific principles that drive motivation. 00:14:00 - Types of Motivation Discussion on intrinsic and extrinsic motivation, with examples from Melina's life. 00:20:00 - Case Studies Real-world examples of motivation in different contexts. 00:25:00 - Behavioral Economics Concepts Exploration of loss aversion, habits, and framing in the context of motivation. 00:32:00 - Evaluating Fitness Apps Melina evaluates Couch to 5K and Runkeeper, discussing their motivational strategies and suggesting improvements. 00:40:00 - Practical Tips Actionable tips for hacking your own motivation, including setting and limiting goals. 00:43:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Work Well, Play More, by Marcey Rader Mixed Signals, by Uri Gneezy What Your Employees Need and Can't Tell You, by Melina Palmer Good Habits, Bad Habits, by Wendy Wood I Respectfully Disagree, by Justin Jones-Fosu Top Recommended Next Episode: iNcentives (ep 272) Already Heard That One? Try These:  Wendy Wood Interview (ep 127) Katy Milkman Interview (ep 151) Cobra Effect (ep 220) Uri Gneezy Interview (ep 273) Marcey Rader Interview (ep 323) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 415 of The Brainy Business podcast, host Melina Palmer welcomes Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth. Anthony shares his fascinating journey from leading the behavioral science practice at Discover Card in Chicago to his current role at TD Wealth, where he develops tools to help advisors integrate behavioral finance principles into their practice. The episode delves into his background, the importance of word choice in financial planning, and the intriguing concept of "wealth confidence." Throughout the conversation, Anthony discusses how subjective feelings of wealth can differ significantly from objective measures, revealing that having more money doesn't always equate to feeling wealthier. He introduces the concept of wealth confidence, which includes intertemporal, social, and purpose and pleasure components, and explains how giving to charity can enhance one's sense of wealth. Anthony also shares insights from a research project that tested different value propositions for financial plans, leading to a significant increase in plan creation rates. The episode is a treasure trove of insights for anyone interested in behavioral finance, the psychology of wealth, and the power of language in financial planning. In this episode, you will learn: The concept of wealth confidence and its impact on financial well-being. How subjective feelings of wealth can differ from objective financial measures. The importance of word choice in financial planning and how it affects client engagement. The role of charitable giving in enhancing one's sense of wealth. Practical strategies for financial advisors to communicate the value of financial plans. Show Notes: 00:00:00 - Introduction Melina introduces Anthony Damtsis, Deputy Head of Behavioral Finance at TD Wealth, and sets the stage for a conversation about behavioral finance and wealth confidence. 00:02:30 - Anthony's Background and Journey Anthony shares his journey from Discover Card to TD Wealth and his passion for behavioral science and economics. 00:05:51 - Concept of Wealth Confidence Anthony introduces the concept of wealth confidence, explaining its components and how it differs from traditional measures of wealth. 00:09:00 - Subjective vs. Objective Wealth Anthony and Melina discuss how subjective feelings of wealth can differ from objective financial measures and the role of social comparisons. 00:13:38 - Impact of Charitable Giving Anthony explains how charitable giving can enhance one's sense of wealth and the psychological mechanisms behind it. 00:17:54 - Research on Financial Plans Anthony shares insights from a research project that tested different value propositions for financial plans, leading to a significant increase in plan creation rates. 00:21:31 - Importance of Word Choice Discussion on the importance of word choice in financial planning and how it affects client engagement. 00:24:54 - Practical Strategies for Advisors Anthony provides practical strategies for financial advisors to communicate the value of financial plans effectively. 00:28:36 - Wording Matters Anthony and Melina discuss the nuances around words used to describe feeling wealthy. 00:34:27 - The Importance of Financial Plans Anthony describes the outcomes of his research and applications for financial advisors. 00:37:12 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedI​​n. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Anthony: Anthony on LinkedIn Anthony on X  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Behavioral Science in the WIld, by Dilip Soman and Nina Mazar Behavioral Investor, by Daniel Crosby Dollars and Sense, by Dan Ariely and Jeff Kreisler Influence, by Robert Cialdini Designing for Behavior Change, by Stephen Wendel Top Recommended Next Episode: Chuck Howard Interview (ep 213) Already Heard That One? Try These:  Reciprocity (ep 238) Luke Freeman Interview (ep 239) Dilip Soman Interview (ep 241) Jeff Kreisler Interview (ep 397) Melaina Vinski Interview (ep 413) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter London School of Economics BEAR @ Rotman The Diderot Effect

In episode 414 of The Brainy Business podcast, host Melina Palmer delves into the intricacies of structuring complex choices, the "S" in NUDGES. This episode revisits the crucial topic of choice architecture, emphasizing how businesses can simplify decision-making processes for their customers. By understanding and effectively managing complex choices, businesses can significantly enhance customer experience and satisfaction. This episode is packed with practical tips and examples to help businesses reduce complexity and improve customer decision-making processes. Melina encourages listeners to think creatively about their business challenges and consider how successful companies might approach similar problems. In this episode: Understand the concept of mapping and its importance in choice architecture. Learn the five steps to effectively structure complex choices. Discover strategies to simplify decision-making for customers. Explore examples from leading companies that excel in managing complex choices. Gain insights on how to apply these strategies to your own business. Show Notes: 00:00:00 - Introduction Melina introduces the episode's focus on structuring complex choices as part of the NUDGES series. 00:01:45 - Revisiting Mapping Melina explains the concept of mapping and its relevance to complex choices, using examples like choosing ice cream flavors and medical treatments. 00:05:30 - The Five Steps to Understanding Mapping Melina outlines the five essential steps to understanding and implementing mapping in choice architecture. 00:08:20 - Simplifying Complex Choices Melina discusses the importance of eliminating unnecessary options and provides examples of how businesses can simplify complex choices for customers. 00:15:00 - Examples from Leading Companies Melina explores how companies like Amazon, Google, Expedia, Zillow, Netflix, and others effectively manage complex choices through categorization and filtering. 00:25:00 - Practical Application for Your Business Melina encourages listeners to think creatively about their own business challenges and consider how successful companies might approach similar problems. 00:35:00 -  Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Nudge, by Richard Thaler & Cass Sunstein Sludge, by Cass Sunstein Elements of Choice, by Eric Johnson What Your Customer Wants and Can't Tell You, by Melina Palmer The Truth About Pricing, by Melina Palmer Top Recommended Next Episode: Understanding Mapping (ep 294) Already Heard That One? Try These:  NUDGES and Choice Architecture: Introduction (ep 35) Defaults: The D in NUDGES (ep 38) The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Eric Johnson Interview (ep 174) Cass Sunstein Interview (ep 371) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Choice Architecture Elimination by Aspects: A Theory of Choice The Knotted Wood Coca-Cola Freestyle  

In episode 413 of The Brainy Business podcast, host Melina Palmer welcomes Dr. Melaina Vinski, the Behavioral Science Lead at IBM, for a deep dive into the practical applications of behavioral science in business and technology. Melaina, with her extensive background in cognitive neuroscience and human behavior, shares her journey from academia to leading behavioral science initiatives at major corporations like PwC Canada and IBM. She discusses the importance of mind wandering, mindfulness, and the integration of behavioral science into technology to create impactful solutions. Melaina elaborates on her fascinating research experiences, including studying the effects of daylight savings on cognition in Iceland and exploring mindfulness at the Max Planck Institute. She also touches on the significance of empathy, stress management, and cognitive capacity in designing user-centric solutions in the financial services and insurance industries. The episode is packed with insights on how to apply behavioral science principles to drive strategic decision-making, enhance user experience, and improve business outcomes. In this episode: Discover the impact of mind wandering and mindfulness on cognitive capacity and creativity. Learn about the integration of behavioral science into technology and its real-world applications. Understand the importance of empathy and stress management in user-centric design. Explore strategic decision-making frameworks that incorporate behavioral science principles. Gain insights into Melaina's journey from academia to leading behavioral science initiatives at IBM. Show Notes: 00:00:00 - Introduction Melina introduces Dr. Melaina Vinski, highlighting her role as the Behavioral Science Lead at IBM and her extensive background in cognitive neuroscience and human behavior. 00:04:12 - Melaina's Background and Journey Melaina shares her journey from academia to the corporate world, discussing her experiences at PwC Canada and IBM, and the transition from theoretical research to practical applications. 00:09:45 - Research on Mind Wandering and Mindfulness Melaina discusses her PhD research on mind wandering and mindfulness, including her studies on the effects of daylight savings in Iceland and mindfulness practices at the Max Planck Institute. 00:15:32 - The Importance of Empathy and Stress Management The conversation shifts to the significance of empathy and stress management in user-centric design, particularly in the financial services and insurance industries. 00:21:18 - Integrating Behavioral Science into Technology Melaina explains how behavioral science principles are integrated into technology at IBM to create impactful solutions, emphasizing the importance of strategic decision-making frameworks. 00:27:54 - Practical Applications and Examples Melaina provides examples of practical applications of behavioral science in business, including a case study on improving customer experience in the insurance industry. 00:34:06 - The Role of Cognitive Capacity in Creativity The discussion highlights the role of cognitive capacity in creativity and problem-solving, and the benefits of mind wandering and taking breaks for better decision-making. 00:40:22 - Building a Holistic Approach to Behavioral Science Melaina shares her approach to building a holistic behavioral science strategy, integrating various frameworks and tools to drive business outcomes. 00:46:15 - Closing Thoughts and Future Directions Melina and Melaina discuss the future directions of behavioral science in business and technology, and the importance of continuous learning and adaptation. 00:50:30 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Melaina: Melaina on LinkedIn Melaina on X  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer The Fun Habit, by Mike Rucker Happier Hour, by Cassie Holmes The Myth of Normal, by Gabor Maté Seven And A Half Lessons About The Brain, by Lisa Feldman Barrett Top Recommended Next Episode: Jay Maddock Interview (ep 203) Already Heard That One? Try These:  Mike Rucker Interview (ep 251) Cassie Holmes Interview (ep 257) Framing (ep 296) Yves Boudreau Interview (ep 375) Matthew Confer Interview (ep 412) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter The Behavioural Strategy Briefing

In this enlightening episode of The Brainy Business podcast, host Melina Palmer revisits a compelling conversation with Matthew Confer on the three essential steps to better decision-making. As the VP of Strategy at Abilitie, Matthew brings a wealth of knowledge on leadership development and decision-making frameworks. This episode is a must-listen for anyone looking to enhance their decision-making skills, both personally and professionally, especially in the context of business leadership and management. Melina and Matthew delve into the importance of challenging constraints, embracing pre-mortems, and checking the basics to make more informed and effective decisions. They discuss the value of simulation training for corporate leaders, drawing parallels to pilot training to emphasize the importance of experiential learning. With practical examples and insightful stories, this episode offers actionable strategies to improve decision-making processes in any organization. In this episode: Learn the three critical steps to making better decisions: challenging constraints, embracing pre-mortems, and checking the basics. Understand the significance of simulation training in developing leadership and decision-making skills. Explore practical examples of how to implement these strategies in real-world business scenarios. Discover the importance of adaptability and flexibility in decision-making, especially in uncertain times. Gain insights into the psychological aspects of decision-making and how to overcome common biases. Show Notes: 00:00:00 - Introduction Melina introduces the episode and the topic of three steps to better decision-making with Matthew Confer, highlighting the relevance of this discussion for the upcoming episode with Melaina Vinski. 00:04:12 - Matthew Confer's Background Matthew shares his background and his role at Abilitie, explaining how simulation training helps leaders develop critical decision-making skills. 00:09:30 - Simulation Training Examples Matthew provides examples of simulation training scenarios, including people management and financial acumen, and how these simulations help leaders practice decision-making in a controlled environment. 00:14:46 - Importance of Experiential Learning Melina and Matthew discuss the difference between thinking about doing something and actually doing it, emphasizing the value of experiential learning in improving decision-making skills. 00:20:15 - Step 1: Challenge the Constraints Matthew explains the first step in the decision-making framework: challenging the constraints. He shares examples of how successful teams take a step back to identify and challenge the constraints that might be holding them back. 00:25:22 - Step 2: Embrace a Pre-Mortem Matthew introduces the concept of a pre-mortem, explaining how it helps teams anticipate potential failures and plan accordingly. He discusses the psychological benefits of considering why a plan might fail before it is implemented. 00:30:45 - Step 3: Check the Basics Matthew highlights the importance of checking the basics, especially as decisions become more complex. He shares a notable example from NASA to illustrate how small details can trip up even the most advanced projects. 00:35:51 - Practical Examples and Applications Matthew provides practical examples of how these three steps have been applied in real-world scenarios, including the challenges and adaptations faced during the COVID-19 pandemic. 00:45:30 - The Press Release Method Matthew introduces the press release method, a decision-making technique used by Amazon, and discusses its potential benefits and applications in business decision-making. 00:50:12 -  Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Matthew: Matthew on LinkedIn Matthew on Twitter Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: What Your Employees Need and Can't Tell You, by Melina Palmer Thinking Fast and Slow, by Daniel Kahneman The Friction Project, by Robert Sutton and Huggy Rao Friction, by Roger Dooley Sludge, by Cass Sunstein Top Recommended Next Episode: Time Discounting (ep 328) Already Heard That One? Try These:  The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) What Your Employees Need and Can't Tell You (ep 225) Scarcity (ep 270) The Science of Time Pressure (ep 366) Status Quo Bias (ep 376) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Matthew’s Ted Talk Learn to Lead Podcast Amazon “Press Release” Method To Reach Your Goals, Imagine You Already Tried and Failed What a 5-Step Checklist at Johns Hopkins Can Teach You About Life and Business  

In this episode of The Brainy Business podcast, host Melina Palmer welcomes Jordan Bridger, a behavioral scientist, social psychologist, comedian, and speaker who has graced four TEDx stages. Jordan dives into the fascinating world of linguistic neuroscience, exploring how our word choices and the symbols we use shape our experiences and behaviors. He shares his insights on the power of storytelling, the importance of understanding context, and how seemingly small changes in language can create significant impacts. Jordan discusses his diverse career, from working with global organizations like the United Nations and the city of Vancouver to his experiences in stand-up comedy and rock climbing. He also emphasizes the importance of humanizing communication and the role of behavioral science in driving positive changes within organizations. Through engaging stories and practical examples, Jordan illustrates how to navigate and implement change effectively, even in challenging environments like a hospital system during the height of COVID-19. In this episode: Understand the impact of linguistic neuroscience on behavior and decision-making. Learn how to use storytelling and word choice to influence and engage your audience. Explore the role of behavioral science in driving positive organizational change. Discover practical strategies for humanizing communication and fostering connection. Gain insights into the intersection of technology and behavioral science. Show Notes: 00:00:00 - Introduction Melina introduces Jordan Bridger and highlights his diverse background in behavioral science, social psychology, and comedy. 00:05:30 - Jordan's Background and Work Jordan shares his journey from working with global organizations to his passion for stand-up comedy and rock climbing. 00:09:45 - Linguistic Neuroscience and Semiotics Jordan delves into linguistic neuroscience, discussing how symbols and language shape our experiences and behaviors. 00:15:20 - The Power of Storytelling The conversation explores the importance of storytelling in communication and how it can influence decision-making and engagement. 00:20:15 - Behavioral Science in Organizations Jordan shares his experiences working with organizations to implement positive changes, including a case study with a hospital system during COVID-19. 00:30:45 - Humanizing Communication The discussion emphasizes the need to humanize communication and build connections through relatable language and storytelling. 00:35:10 - Technology and Behavioral Science Jordan and Melina discuss the intersection of technology and behavioral science, highlighting the importance of humanizing technology and using it as a tool for connection. 00:45:00 - Practical Tips for Using AI Jordan offers practical advice for using AI in content creation and communication, emphasizing the importance of personalization and relatability. 00:50:30 - Conclusion Melina and Jordan wrap up the conversation, reflecting on the key insights and takeaways from the episode. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Jordan: Wondr Mporium X LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Semiotics In Retail, by Rachel Lawes The Truth About Pricing, by Melina Palmer Nudge, by Richard Thaler & Cass Sunstein The Power of Us, by Jay Van Bavel & Dominic Packer Metaphors We Live By, by George Lakoff and Mark Johnson Top Recommended Next Episode: Sarah Thompson Interview (ep 259) Already Heard That One? Try These:  Mirror Neurons (ep 31) Priming (ep 252) Confirmation Bias (ep 260) Framing (ep 296) Haley Swafford Interview (ep 409) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Of Other Spaces, by Michel Foucault

In this episode of The Brainy Business podcast, host Melina Palmer revisits her engaging conversation with Dr. Benny Cheung of Dectech. Originally aired in February 2021, this episode dives into the fascinating world of applied behavioral science, focusing on a compelling case study about opportunistic insurance fraud. Benny shares insights from his academic journey in behavioral genetics to his application of behavioral techniques in a commercial setting, providing valuable lessons for businesses across various industries. Benny's research on opportunistic insurance fraud reveals how simple behavioral interventions can significantly reduce dishonest behaviors among consumers. By leveraging techniques such as norming, self-consistency, priming, framing, and reciprocity, the study demonstrates how these nudges can sway consumer honesty and potentially save the insurance industry millions. This episode is packed with practical insights and examples that highlight the power of behavioral science in real-world applications. In this episode: Discover the impact of behavioral genetics on understanding consumer behavior. Learn about the challenges and strategies in addressing opportunistic insurance fraud. Explore the effectiveness of different behavioral interventions in promoting honesty. Understand the importance of testing and experimentation in behavioral science. Gain insights into designing and implementing behavioral nudges in various business contexts. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the episode and the guest, Dr. Benny Cheung, highlighting the focus on opportunistic insurance fraud and the application of behavioral science in commercial settings. 00:04:08 - Dr. Benny Cheung's Background Benny shares his academic background in behavioral genetics and his transition to applying behavioral science in a commercial backdrop, supporting clients in understanding consumer behavior. 00:09:16 - Behavioral Genetics and Consumer Behavior Benny discusses the hereditary nature of certain behaviors and the implications of genetic research on understanding consumer behavior, providing fascinating insights from his work with nematode worms. 00:15:46 - Opportunistic Insurance Fraud Benny explains the concept of opportunistic insurance fraud, differentiating it from organized fraud, and discusses the challenges in detecting and addressing this type of fraud. 00:20:21 - Behavioral Interventions Benny outlines the five behavioral concepts used to develop 18 different nudges aimed at reducing opportunistic insurance fraud, including norming, self-consistency, priming, framing, and reciprocity. 00:28:57 - Testing and Results Benny describes the randomized control trial methodology used to test the effectiveness of the interventions and shares the impressive results, highlighting the significant impact of norming interventions. 00:35:51 - Importance of Testing Benny emphasizes the importance of testing and experimentation in behavioral science, discussing the benefits of quasi-experiments and real-life trials in refining and validating interventions. 00:42:17 - Consumer Perceptions Benny addresses the importance of ensuring that behavioral interventions do not negatively impact consumer perceptions, sharing insights from the study on how interventions were received by participants. 00:47:30 - Conclusion Melina Palmer wraps up the episode, encouraging listeners to think about how the insights shared can be applied to their own businesses and reminding them to check the show notes for additional resources and related episodes. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Benny: Benny on LinkedIn Benny on Twitter Dectech’s Website Dectech on Twitter Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Mixed Signals, by Uri Gneezy Nudge, by Richard Thaler & Cass Sunstein The Truth About Pricing, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer The Friction Project, by Robert Sutton and Huggy Rao Top Recommended Next Episode: Henry Stott Interview (ep 130) Already Heard That One? Try These:  Cobra Effect (ep 220) Priming (ep 252) Nudges Incentives (ep 272) Uri Gneezy Interview (ep 273) How to Set Up Your Own Experiments (ep 63) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Using behavioural science to reduce opportunistic insurance fraud

In episode 409 of The Brainy Business podcast, Haley Swafford, Market Research Manager at Microsoft, shares her insights into emotional brand relationships and the effort to drive love for the Microsoft brand. Haley’s extensive background in market research, coupled with her passion for uncovering emotionally centered insights, shines through as she discusses the pivotal combination of functional and emotional components in understanding brand-customer relationships. Her emphasis on the significance of love as a focus for Microsoft, in contrast to traditional themes of innovation and empowerment, offers a fresh perspective on building emotional connections with the brand.  Haley’s in-depth explanation of the research process and the subsequent decision to prioritize love as a descriptor for brand relationships provides a compelling reason for brand managers and marketers to tune in to this episode. Her practical insights, including the need to make research findings actionable and contextualize research learnings within the brand love model, offer actionable takeaways for businesses seeking to enhance their emotional relationships with customers. This episode provides a unique opportunity to gain valuable insights and strategies for fostering emotional brand connections. In this episode: Uncover the secrets to building strong emotional connections with your brand and customers. Explore Microsoft's groundbreaking approach to cultivating brand love and loyalty. Discover the profound impact of emotionality on consumer decision-making and brand preference. Master the techniques for accurately measuring and analyzing the emotional resonance of your brand. Harness the power of AI to revolutionize and optimize your market research strategies. Show Notes: 00:00:00 - Introduction Melina introduces Haley Swafford and highlights her passion for uncovering emotionally centered insights to diversify and strengthen traditional research approaches. 00:06:07 - The Journey to Prioritizing Microsoft Love Haley shares the journey of prioritizing Microsoft Love, starting with the discrepancy between the company's revenue and brand value. This led to the creation of her role and a focus on understanding emotionality for the brand. 00:10:40 - Understanding Emotionality in Brand Relationships Haley explains emotionality as the combination of functional and emotional components in human decision-making. She emphasizes the importance of driving positive, memorable, and influential brand memories to shape the brand's relationship with its customers. 00:13:34 - Can You Love a Brand? The Microsoft Challenge Haley discusses the audience's response to the question of loving a brand, particularly a technology brand like Microsoft. The data reflected a neutrality problem, prompting the need to drive a more emotional relationship with the brand. 00:14:59 - Settling on "Love" as the Brand Emotion Haley shares the research process that led to the decision to focus on "love" as the brand emotion. Despite other contenders like innovation and empowerment, love emerged as the strongest model and a renewed focus for Microsoft's brand strategy. 00:17:16 - The Concept of Brand Love Haley discusses the two key aspects of brand love: identity and trust. She explains how people see themselves in a brand and the importance of building a brand that represents and supports them. 00:19:23 - Literature Review and Research Process Haley shares her approach to conducting qualitative and quantitative research and the extensive literature review she did. She emphasizes the importance of clear objectives and communication to successfully pitch a project. 00:26:02 - Emotional Inquiry and Research Findings Haley talks about the emotional inquiry technique used by the research partner, Brand Trust, to gather memorable brand experiences. She highlights the process of organizing the research findings and anchoring them to the brand love model. 00:29:34 - Commercial Audience Research Haley explains the challenges and rewards of conducting research with commercial audiences. She emphasizes the importance of bringing colleagues along on the research journey and the significance of understanding differences by products and audiences. 00:33:07 - Actionable Insights from Research Haley delves into the actionable insights derived from the research, focusing on the components of the brand love model. She highlights the importance of making love a part of everyday work and aligning it with business goals. 00:35:54 - Framing Learnings to Drive Love Haley emphasizes the importance of framing learnings to drive love as a source of truth and the need for sheer repetition for people to remember and implement the insights. Workshops with external partners have been helpful in deeply understanding driving love for the business. 00:37:53 - Emphasizing Actionability and Scalability Haley discusses the need for scalability in driving love at Microsoft and the support from the new CMO in emphasizing the priority of driving love in the context of AI. Actionable projects include workshops and generating emotive copy using emotionality learnings. 00:38:38 - Exciting Future Projects Haley shares her excitement about learning more about integrating love into the business, such as formalizing the intake process, prompt engineering using emotionality learnings, and creating a tactical step-by-step concept for business goals. 00:40:42 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Haley: Haley on LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Playing with Reality, by Kelly Clancy Blindsight, by Matt Johnson and Prince Ghuman Neurobranding, by Peter Steidl What Your Customer Wants and Can't Tell You, by Melina Palmer The Power of Us, by Jay Van Bavel & Dominic Packer Top Recommended Next Episode: Memory Biases (ep 280) Already Heard That One? Try These:  Sarah Thompson Interview (ep 259) Dominic Packer Interview (ep 304) Prince Ghuman Interview (ep 344) Kelly Clancy Interview (ep 403) Peak-End Rule (ep 408) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer delves into the intricacies of the peak-end rule and its significant influence on customer experiences. Drawing from her expertise in behavioral economics, Melina elucidates how our brains prioritize intense moments and the final impression when evaluating experiences. She provides practical examples and actionable strategies for businesses to strategically apply the peak-end rule, highlighting the importance of creating positive peaks and endings in all interactions.  Listeners gain valuable insights into enhancing customer relationships, driving employee engagement, and improving overall business performance by understanding and implementing this cognitive mechanism. With a focus on creating impactful and memorable experiences, this episode serves as a comprehensive guide for businesses seeking to optimize customer and employee experiences through the application of the peak-end rule. In this episode: Implement the Peak-End Rule to Elevate Customer Service Experiences Harness the Power of Behavioral Economics to Enhance Customer Satisfaction Optimize Employee Review Experiences for Positive Outcomes Integrate Surprise and Delight Tactics into Your Business Strategy Leverage the Impact of the Peak-End Rule on Pricing Strategies Show Notes: 00:00:00 - Introduction Melina introduces the concept of the peak-end rule and highlights its significance in shaping customer experiences. 00:02:49 - Peak End Rule Application in Experiences Melina explains how people evaluate experiences based on the peak and end points, influencing their overall opinion. Examples from eating out to medical procedures are used to illustrate the concept. 00:07:58 - Importance of Peak and End Points Melina delves into the impact of the peak and end points on the overall experience. She emphasizes the significance of ending on a positive peak and avoiding negative peaks at the end. 00:13:28 - Prioritizing Customer Experience Melina provides practical advice on prioritizing customer experience improvement by focusing on key processes and eliminating unnecessary steps. She encourages a shift towards an ideal state while planning for improvements. 00:16:52 - Incorporating Surprise and Delight into Customer Experiences Melina discusses how businesses can focus on creating surprise and delight moments within the overall customer experience to drive loyalty and happiness with their brand. 00:19:17 - Managing Negative Customer Experiences Melina explains how businesses can address negative customer experiences by incorporating surprise and delight to balance out the negative moments, ultimately improving the overall perception of the experience. 00:24:22 - Employee Reviews and the Peak-End Rule Melina delves into the impact of the peak-end rule on employee reviews, emphasizing the importance of keeping track of positive peaks throughout the year to influence managers' evaluations and bias. 00:27:49 - Application of the Peak-End Rule in Pricing Strategy Melina explores how the peak-end rule applies to pricing strategy, highlighting the influence of peak values and the end price on customers' overall impression and behavior. 00:31:24 - Utilizing the Peak-End Rule to Enhance Experiences Melina summarizes the importance of considering the peak-end rule in all experiences, whether customer-facing or internal, to leverage it for improving overall experience scores and retaining great talent. 00:32:46 - Leveraging the Peak-End Rule The conversation discusses leveraging the peak-end rule to improve customer and employee experiences. It emphasizes the importance of eliminating negative peaks, boosting positive peaks, and incorporating surprise and delight. 00:33:44 - Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Choice Hacking, by Jennifer Clinehens Influence, by Robert Cialdini The Experience Maker, by Dan Gingiss What Your Customer Wants and Can't Tell You, by Melina Palmer The Truth About Pricing, by Melina Palmer Top Recommended Next Episode: Disney (ep 292) Already Heard That One? Try These:  Booms, Bubbles and Busts (ep 30) Dan Gingiss Interview (ep 185) Surprise & Delight (ep 276) Robert Cialdini Interview (ep 312) Jennifer Clinehens Interview (ep 404) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter This Brain Bias is Affecting Your Employee Reviews Cognitive Biases: Peak-End Effect Dynamic Pricing with Loss-Averse Consumers and Peak-End Anchoring Applying the Peak-End Rule to Reference Prices When More Pain Is Preferred To Less: Adding a Better End

In Episode 407 of The Brainy Business podcast, Mindy Weinstein, the author of The Power of Scarcity and CEO of Market MindShift, joins host Melina Palmer to discuss the psychological impact of scarcity on consumer behavior. Mindy's expertise in scarcity tactics stems from her Ph.D. program and extensive market insights. Throughout the episode, Mindy explains the primal influence of scarcity on human behavior, identifying four types of scarcity: supply-related, demand-related, time-related, and limited edition.  She emphasizes the importance of honest and transparent scarcity in marketing and shares practical case studies that illustrate the effectiveness of scarcity in driving consumer action. The engaging conversation between Mindy and Melina provides actionable insights into leveraging scarcity in marketing strategies and highlights the ethical considerations in deploying scarcity tactics. This episode is essential listening for entrepreneurs and small business owners seeking to create urgency, drive sales, and build customer engagement and loyalty through authentic scarcity tactics. In this episode: Implementing transparent scarcity tactics can drive sales and create urgency in your business strategy. Understanding the psychological impact of scarcity on consumers can give you a competitive edge in the market. Leveraging different types of scarcity in marketing can help you stand out and capture your audience's attention. Creating urgency with scarcity tactics can lead to increased customer engagement and loyalty. Exploring the connection between scarcity and customer loyalty can provide valuable insights for your business growth. Show Notes: 00:00:00 - Introduction In the introduction, Melina celebrates the six-year anniversary of The Brainy Business podcast and the 407th episode. 00:06:12 - Types of Scarcity Mindy discusses the four types of scarcity: supply-related, demand-related, time-related, and limited edition. She explains how these types of scarcity influence human behavior and decision-making. 00:08:08 - Scarcity and Social Proof The conversation delves into the connection between scarcity and social proof. Mindy shares a case study about Melinda Maria jewelry to illustrate how scarcity and social proof influence consumer behavior. 00:11:44 - Testing Scarcity Strategies Melina emphasizes the importance of testing different scarcity strategies without the need for a large budget. The discussion highlights the power of testing simple word changes and reframing to leverage scarcity effectively. 00:12:30 - Case Study: Movie Ticketing App Mindy shares a case study about a movie ticketing app that successfully used scarcity messaging to drive sales. The app's use of the phrase "good tickets selling fast" illustrates the impact of scarcity messaging on consumer behavior. 00:14:14 - Understanding the Power of Scarcity Mindy and Melina discuss the concept of scarcity and how it affects consumer behavior. They delve into the importance of using scarcity language in marketing and how it can significantly impact sales. 00:15:07 - The Impact of Scarcity on Sales Mindy shares a case study where implementing the phrase "good tickets selling fast" increased Saturday morning movie sales by 33%. This demonstrated the power of using scarcity language to drive consumer behavior and increase sales. 00:16:46 - Understanding Consumer Behavior Melina and Mindy emphasize the importance of understanding what truly motivates consumer behavior. They discuss the significance of testing and incorporating scarcity language in marketing to drive action and engagement. 00:21:33 - Building Loyalty and Community Mindy highlights the counterintuitive aspect of scarcity, where it can actually build loyalty and a sense of community among consumers. They discuss how exclusivity and limited supply can create a sense of belonging and excitement among consumers. 00:25:57 - Applying Scarcity to Services Mindy explains how scarcity can also apply to service-based businesses, such as consultancy and software. She discusses the importance of quantifying scarcity, using exclusivity, and creating special opportunities to drive engagement and interest in services. 00:26:59 - Leveraging Scarcity for Client Management Mindy discusses how scarcity can be leveraged for client management, emphasizing the value of showing scarcity to potential customers to demonstrate value and urgency. 00:30:01 - Leveraging Scarcity within an Organization Mindy explains how scarcity can be utilized within an organization, particularly in market research teams, to quantify available time and resources, leading to reprioritization and potentially hiring more staff. 00:31:38 - Overcoming Decision Paralysis with Scarcity Melina and Mindy delve into the impact of scarcity on decision-making, highlighting how scarcity can help overcome decision paralysis and drive faster decision-making, ultimately saving time and budget. 00:33:58 - Tying Scarcity with Return Policies The conversation shifts to the importance of tying scarcity with return policies and satisfaction guarantees, using Costco as an example of how scarcity can drive consumer behavior and satisfaction. 00:38:39 - Proactive Customer Service and Community Building Mindy shares a case study of how proactive customer service and community building helped a company maintain customer satisfaction and positive sentiment, showcasing the impact of scarcity in building anticipation and excitement. 00:39:28 - Understanding Scarcity and Its Types Mindy explains the four main types of scarcity: limited supply, demand related, time related, and limited edition. She recommends starting with supply related scarcity, emphasizing its versatility for all businesses. 00:40:30 - Last Tip: Try It Mindy's final tip is to try implementing scarcity. She emphasizes the psychological depth of scarcity and encourages businesses to experiment with it to see results. 00:41:21 - Next Steps and Resources Mindy directs listeners to powerofscarcity.com to order her book and download a free cheat sheet about scarcity. She also suggests connecting on LinkedIn for more information. 00:42:25 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Mindy: Mindy's Website Mindy on LinkedIn Mindy on X Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: The Power of Scarcity, by Mindy Weinstein The Truth About Pricing, by Melina Palmer Influence, by Robert Cialdini Blindsight, by Matt Johnson and Prince Ghuman Outthink. Outperform., by Roger Hurni Top Recommended Next Episode: Mindy Weinstein Interview (ep 271) Already Heard That One? Try These:  Social Proof (ep 87) Scarcity (ep 270) Loss Aversion (ep 316) Quality Vs Value (ep 357) The Science of Time Pressure (ep 366) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 406 of The Brainy Business podcast, behavioral scientist Patrick Fagan shares insights on the psychology of effective messaging in marketing, drawing from his extensive research and book "Hooked." Fagan's expertise lies in understanding and influencing consumer behavior, utilizing behavioral science to uncover the impact of environmental cues, social media, and psychological segmentation on decision-making processes.  Through his studies on background noises, Facebook psychology, and segmentation for a supplements brand, Fagan demonstrates the practical applications of behavioral science in marketing. His framework for effective messaging, encompassing attention-grabbing, engagement, and behavior nudges, offers actionable strategies for businesses to tailor messages to different audience segments. By listening to this episode, small business owners and marketers can gain valuable insights into consumer behavior, environmental cues, and ethical messaging strategies, empowering them to enhance consumer engagement and influence purchasing decisions effectively. In this episode: Understand the psychology of online shopping to optimize your e-commerce strategy. Boost self-esteem with insights into the impact of social media on mental well-being. Utilize behavioral science to craft compelling marketing campaigns that resonate with consumers. Harness the influence of background noise to enhance consumer decision-making processes. Implement effective message engagement strategies to maximize advertising impact. Show Notes: 00:00:00 - Introduction Melina introduces Patrick Fagan, author of #Hooked, and discusses the intentionality of marketing messaging in the book. 00:02:13 - Patrick's Background in Behavioral Science Patrick shares his background in behavioral science, including his research on music priming for online shopping and the effects of background noises on purchasing behavior. 00:07:15 - Facebook Psychology and Facial Expressions Patrick discusses his research on Facebook psychology, which found that the platform can impact self-esteem and loneliness. He also shares insights on using facial expressions to measure engagement and boredom. 00:10:23 - Current Projects and Interests Patrick shares his current interest in understanding behavior and influence, focusing on psychology and behavior segmentation. He highlights a recent segmentation project for a supplements brand, which identified five different types of people with respect to health and nutrition. 00:14:43 - Conclusion and Future Focus Patrick emphasizes his passion for understanding people's behavior and motivation, highlighting the importance of psychology and behavior segmentation over traditional demographics and attitudes. He expresses excitement for future projects in this area. 00:15:13 - Understanding Different Motivations Patrick discusses the different motivations people have for health and fitness, including diet, appearance, achievement, and reassurance. He highlights the importance of tailoring messages to different groups based on their motivations. 00:21:43 - The Power of Habits Patrick and Melina delve into the influence of habits on behavior, particularly in the context of fitness. They discuss how habits can impact people's reasons for exercising and how triggers can influence their decision to engage in physical activity. 00:24:44 - Traditionalism and Progressivism Patrick shares his research on traditionalism and progressivism, revealing that a significant proportion of people are motivated by a desire to return to the past rather than just conserving or progressing. He discusses the implications of this finding for businesses in terms of messaging and branding. 00:27:53 - Applying Psychology to Marketing Patrick and Melina explore how businesses can utilize psychological insights to tailor their marketing strategies. They discuss the importance of understanding customer mindsets and motivations, and how businesses can use this knowledge to communicate effectively with their target audience. 00:29:45 - The Three Steps of Effective Messaging Patrick outlines the three crucial steps for creating effective messages: grabbing attention, engaging the audience, and nudging behavior. He emphasizes the significance of understanding the brain's response to certain stimuli and leveraging this knowledge in crafting compelling messages. 00:30:14 - Attention-Grabbing Factors Patrick discusses the importance of paying attention to things like kids, faces, emotions, surprise, and personal elements in grabbing attention. 00:31:58 - Engaging Emotionally Engaging people through curiosity, stories, and fluency is discussed. Using puzzles, riddles, and stories can help people engage and remember information more effectively. 00:34:06 - Nudging Behavior Patrick talks about the use of priming, memory, motivation, and relevance to nudge behavior. Emotions and relevance play a significant role in motivating people to act. 00:36:45 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Patrick: Patrick on LinkedIn  Patrick on X Patrick’s Website  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: #Hooked, by Patrick Fagan Alchemy, by Rory Sutherland Blindsight, by Matt Johnson and Prince Ghuman The Shallows, by Nicholas Carr Amusing Ourselves to Death, by Neil Postman and Andrew Postman Top Recommended Next Episode: Rory Sutherland Interview (ep 373) Already Heard That One? Try These:  Wendy Wood Interview (ep 127) Priming (ep 252) Disney (ep 292) Prince Ghuman Interview (ep 344) The Truth About Pricing (ep 356) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter Radio, Chatter and Football – The Sounds That Help Us Shop

In episode 405 of The Brainy Business podcast, Melina Palmer interviews Roger Hurni, an author and behavior strategist known for his work with iconic brands such as DoubleTree Hotels, Nike, PF Chang's, and PetSmart. Throughout the conversation, Roger shares pivotal moments that shaped his understanding of human behavior, emphasizing the importance of tapping into emotions and motivations when marketing products or services.  He highlights the shift from focusing on functional features to addressing the emotional and psychological aspects of consumer behavior, stressing the significance of understanding and leveraging human emotions and motivations to drive effective marketing strategies. Roger's expertise in behavior marketing, demonstrated through his experiences with renowned brands, offers valuable insights for marketers and business professionals seeking to enhance customer loyalty and brand perception. By delving into Roger's journey from art director to behavior strategist, the episode provides a compelling narrative of continuous learning, open-mindedness, and the power of asking the right questions to drive successful business strategies. In this episode: Unveiling the Power of Behavioral Economics in Marketing Strategies. Leveraging Technology for Enhanced Customer Experience. Creating Memorable Brand Experiences with Sensory Marketing. Embracing the Importance of Micro-Moments in Customer Decision Making. Applying BJ Fogg's Behavior Model in Business. Show Notes: 00:00:00 - Introduction Roger Hurni, author of Outthink. Outperform., shares his expertise in behavior marketing and branding. 00:02:20 - Path to Behavior Strategy Roger shares his journey from art director to behavior strategist, emphasizing the value of hard work over talent and the importance of seamless creative partnerships. 00:11:58 - The DoubleTree Cookie Story Roger discusses the iconic DoubleTree chocolate chip cookie campaign, highlighting the power of tapping into people's feelings and motivations to persuade them effectively. 00:14:48 - Marketing on Emotions Roger emphasizes the value of marketing products based on the job they can do and the values they represent, rather than just their functionality and features. 00:15:16 - The Art of Answering Questions and Media Training Roger shares the importance of answering questions strategically, regardless of the exact words asked. He discusses the value of media training and shares an anecdote about Henry Kissinger's press conference tactics. 00:17:00 - Leveraging Technology for Personalized Experiences Roger discusses the Four Seasons hotel example, highlighting how technology can be leveraged to create personalized and memorable experiences. He emphasizes the importance of using technology to enhance human connections rather than dehumanize interactions. 00:19:06 - Behavioral Data and Technology Roger shares how Four Seasons leveraged geofencing and technology to orchestrate a personalized and memorable customer experience. He emphasizes the potential of technology to inform operational and marketing decisions through behavioral data analysis. 00:23:05 - Surprise and Delight with Technology Roger discusses the concept of surprise and delight in marketing, emphasizing the use of technology to provide unexpected and special experiences for customers. He highlights the importance of analyzing behavioral data to inform personalized interactions and marketing decisions. 00:28:11 - Understanding the Problem and Solution Roger shares a case study about a movie theater chain's popcorn consumption. He emphasizes the importance of understanding the underlying reasons for customer behavior, highlighting the link between movie genres and popcorn consumption. 00:29:35 - Understanding Consumer Behavior in Movie Theaters Roger discusses the correlation between movie genres and popcorn sales and how understanding consumer behavior helps in movie theater marketing. 00:30:30 - Defining Objectives and Aspirations Roger emphasizes the importance of defining measurable objectives and aspirations for clients, and how understanding their true needs is crucial for business success. 00:32:45 - Solving Behavioral Problems for Clients Roger shares examples of how understanding consumer behavior can help solve business problems, whether in marketing or operations. 00:38:21 - Behavior Sequencing in Marketing Roger explains the concept of behavior sequencing in marketing and provides an example of how to simplify the first step for customers to make decisions. 00:42:52 - The Power of Experience and Sensory Marketing Melina shares her insight on the impact of the DoubleTree chocolate chip cookies' scent in creating a memorable experience and the importance of understanding habits and desires for normalcy in marketing decisions. 00:44:13 - The DoubleTree Cookie Recipe Release DoubleTree released their famous cookie recipe, creating a buzz and inspiring home baking during the early days of the pandemic. 00:44:52 - Staying Top of Mind The cookie recipe release is an example of staying connected with customers, even during uncontrollable changes. It's a great case study from Roger's book. 00:45:39 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Roger: Roger’s Website  Roger on X  Roger on LinkedIn  Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Outthink. Outperform., by Roger Hurni Alchemy, by Rory Sutherland Tiny Habits, by BJ Fogg Influence, by Robert Cialdini Presuasion, by Robert Cialdini Top Recommended Next Episode: Surprise & Delight (ep 276) Already Heard That One? Try These:  The Most Important Step In Applying Behavioral Economics: Understanding the Problem (ep 126) Habits (ep 256) Framing (ep 296) Robert Cialdini Interview (ep 312) Sense of Smell (ep 298) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

404. Navigating the Customer Journey: Insights from Jennifer Clinehens (Refreshed Episode)   Today’s Episode: In episode 404 of The Brainy Business, Jennifer Clinehens, with her diverse background in entrepreneurship and experience design for global brands, shares valuable insights into the intersection of behavioral science and business. Through her discussion with host Melina Palmer, Jennifer emphasizes the significance of understanding the emotional journey of customers and leveraging the peak-end rule to shape customer perceptions. The conversation explores the non-linear nature of customer journeys, the importance of contextual factors, and the power of experimentation in applying behavioral science principles.  Jennifer's expertise in leveraging behavioral science to create meaningful customer experiences provides a nuanced approach to customer journey mapping and enhancing touchpoints. Her practical examples, such as Disney's approach to shaping the true end of customer experiences, add depth and relevance to the discussion. Listeners can gain valuable takeaways on choice hacking, understanding the true end of experiences, and the application of behavioral science principles to create engaging and memorable brand interactions, making this episode an essential listen for business leaders and marketers seeking to improve customer experiences. In this episode, you will be able to: Apply Behavioral Science to Transform Your Business Master Customer Journey Mapping for Enhanced Customer Experiences Unlock the Power of Peak End Rule for Exceptional CX Implement Effective Choice Architecture Strategies for Business Success Harness Visual Salience to Drive Customer Engagement Show Notes: 00:00:00 - Introduction Jennifer introduces the concept of choice hacking and its application in understanding the psychology of why people buy. 00:02:00 - Intersection of Behavioral Science and Experience Jennifer shares her background and how she applies behavioral science to experience design, marketing, and advertising for various brands. 00:07:49 - The Messy Reality of Customer Journeys Customer journeys are not linear and require a pragmatic approach. It's crucial to experiment with behavioral science principles and consider the context of the customer base. 00:09:58 - Small Steps in Customer Journeys Jennifer discusses the importance of breaking down customer journeys into small steps and paying attention to every moment to create a seamless and effective experience for the customers. 00:12:13 - Peak End Rule in Customer Journeys Jennifer highlights the significance of applying the peak-end rule across a customer journey and the challenges of capturing the emotional journey autonomic. 00:13:27 - Understanding the True Ending of Customer Experience Jennifer discusses the importance of recognizing the true ending of a customer experience, highlighting the common mistake brands make in neglecting the post-purchase phase and how it impacts customer satisfaction. 00:14:01 - Examples of Brands Getting the Ending Wrong Jennifer provides examples of brands failing to manage the true ending of their customer experience, including a personal experience with Lululemon's delivery partner and Disney's innovative approach to enhancing the end of their theme park experience. 00:17:16 - Importance of Context in Customer Experience The conversation delves into the significance of understanding the context in which customers interact with a brand, emphasizing the need for brands to take responsibility for the entire customer journey, including post-purchase interactions and feedback management. 00:19:41 - Tips for Discovering the True End Jennifer shares practical tips for identifying the true end of the customer experience, including the importance of talking to and observing customers, breaking down silos within the organization, experimenting with different approaches, and measuring satisfaction on a journey level. 00:24:23 - Creating Surprise and Delight Moments The conversation explores the concept of surprise and delight in customer experience, highlighting how brands like John Lewis and Purple mattress company effectively use unexpected gestures to enhance the overall brand memory and customer satisfaction. 00:25:54 - Donating Mattresses to Homeless Shelters Jennifer discusses the practice of donating extra mattresses to local homeless shelters. This goodwill gesture not only solves the problem of disposing of unwanted mattresses but also creates a positive brand association. 00:26:40 - Preventing Abuse of Donations Jennifer addresses concerns about potential abuse of the donation practice, emphasizing the rare occurrence of customers taking advantage of the system. This approach benefits the brand and fosters goodwill without allowing exploitation. 00:27:49 - Taking Ownership of Customer Experience Jennifer highlights the need for brands to take ownership of the entire customer experience, not just individual touchpoints. She emphasizes the importance of addressing moments of pain and frustration to create a positive, memorable association with the brand. 00:29:09 - Importance of Visual Salience Jennifer emphasizes the significance of visual salience and cognitive load simplicity theory in ensuring that customers notice and engage with the intended elements of a store, website, or app. Understanding what customers see is crucial for effective design and communication. 00:34:16 - Balancing Emotion and Effectiveness Jennifer discusses the need for brands to balance emotional appeal and effectiveness in their customer journey. She stresses the importance of delivering on both aspects to motivate and encourage customer action, ultimately achieving business goals. 00:38:22 - Introduction to Choice Hacking and the Book Jennifer introduces the concept of choice hacking and the book, emphasizing the focus on education, inspiration, and practical application of the choice framework. The book is available for purchase and offers a free chapter download at choicehacking.com. 00:39:25 - Practical Application of the Choice Framework Jennifer discusses the tactical and easy-to-apply nature of the choice framework presented in the book. She highlights the behavioral science principles underpinning great experiences and mentions the availability of a free course on choicehacking.com. 00:39:45 - Gratitude and Closing Remarks Melina expresses gratitude to Jennifer for sharing her insights on the show. Jennifer reciprocates and emphasizes the value of the conversation. 00:40:19 - Brand Experience and Micro-Moments Melina reflects on the importance of understanding the true end of brand experiences and the impact of micro-moments on brand reinforcement. She emphasizes the empowering nature of negative moments as opportunities for surprise and delight. 00:41:56 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Jennifer: Jennifer on X Jennifer on LinkedIn More About Jennifer Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Choice Hacking, by Jennifer Clinehens Neurobranding, by Peter Steidl Blindsight, by Matt Johnson and Prince Ghuman The Truth About Pricing, by Melina Palmer What Your Customer Wants and Can't Tell You, by Melina Palmer Top Recommended Next Episode: Disney (ep 292) Already Heard That One? Try These:  Costco (ep 47) Peak-End Rule (ep 97) Surprise & Delight (ep 276) Starbucks (ep 278) Robert Cialdini Interview (ep 312) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 403 of The Brainy Business podcast, neuroscientist and physicist Kelly Clancy, through her extensive experience at MIT, Berkeley University College London, and DeepMind, provides a profound exploration of the psychology of games and their influence on behavior and decision-making. Kelly's expertise in neuroscience and game design is evident as she connects concepts from these fields to offer a comprehensive understanding of the topic. Her book, Playing with Reality, delves deep into the history and significance of games, emphasizing their role in shaping human behavior and thought processes.  Throughout the conversation, Kelly highlights the impact of games in shaping behaviors, the significance of balancing innovation with maintenance, and the power of experiential games in fostering empathy and understanding. She presents valuable insights into the role of games in shaping economic concepts, fostering understanding, tolerance, and better conversations, and the strategic and innovative aspects of game design for creating new systems and marketplaces.  Kelly's examples and anecdotes effectively illustrate the broader implications of gaming in various contexts, making it clear that games are not just about entertainment but can also have profound effects on decision-making and societal dynamics. Kelly's expertise and passion for the subject shine through, making the episode an engaging and informative exploration of the psychology of gaming. In this episode, you will be able to: Explore the profound influence of games on human culture and societal norms. Understand the intersection of neuroscience and artificial intelligence in shaping game design and player experience. Discover the application of behavioral economics in driving strategic decision-making and consumer behavior within businesses. Trace the historical significance of games and their impact on modern thought and innovation. Learn the art of designing effective incentive systems to drive organizational performance and foster innovation. Show Notes: 00:00:00 - Introduction Melina introduces Kelly Clancy, author of Playing with Reality, and sets the stage for a conversation about the history and impact of games on society. 00:02:30 - Kelly's Background and Interest in Games Kelly shares her background as a neuroscientist and physicist and her interest in the history of games, which stems from her work at DeepMind and her observations of how games influence scientific thought. 00:05:51 - Definition of Games Kelly defines games as systems with a goal and restrictions on how to achieve that goal, highlighting the importance of following rules and how games have been influential in shaping behavior and learning. 00:09:00 - Influence of Games on Behavior and Dopamine System Kelly discusses how games can shape behavior through the manipulation of the dopamine system, leading to behaviors that may not align with personal values, and the potential dangers of games encouraging individuals to abandon their values to win. 00:13:38 - Designing Systems and Mechanism Design Kelly explores the concept of mechanism design and the importance of thinking at a systems level, drawing parallels between game design and designing systems to elicit specific behaviors, with examples from the tech industry. 00:16:25 - Designing Games for Honesty Kelly discusses the goal of designing games where everyone can win by being honest. The importance of incentivizing the right behaviors within organizations is highlighted. 00:17:54 - Incentivizing Different Strategies Kelly suggests incentivizing different personality types within organizations to balance innovation with maintenance work. She emphasizes the need to reward solid, clever work alongside innovation. 00:21:31 - Sports and Games The guest discusses the historical significance of sports as a physical conditioning for conflict resolution. She explores the idea of trying on different personalities in games and how it can lead to self-discovery. 00:24:54 - Fascinating Aspects of Games The conversation delves into the experiential nature of games and how they provide a unique exploration of agency. Anecdotes about the powerful impact of immersive games on decision-making are shared. 00:27:29 - Reality Shows and Games The guest draws parallels between modern reality shows and historical events like the Renaissance Venice carnival. The discussion centers on how reality shows allow participants to try on different personas and make decisions based on role-playing. 00:32:47 - The Power of Trust and Perception Kelly discusses the importance of trust and perception in games and how players must navigate interactions without hearing the other person's voice. 00:33:45 - Understanding Tolerance and Safe Spaces The conversation delves into the importance of tolerance and having a safe space to explore different scenarios and perspectives, which can lead to positive lessons beyond the game. 00:36:00 - The Role of Play in Learning and Tolerance Exploring the universal play language among animals and its impact on learning, tolerance, and intelligence expansion, as well as its ability to motivate teams and individuals. 00:37:43 - The Business Value of Games Kelly explains the theoretical and practical value of games in business, including the use of game design in creating new systems and the role of games in negotiation, strategy, and innovation. 00:41:34 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Kelly: Kelly on X  Kelly on LinkedIn  Kelly’s Website Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Playing with Reality, by Kelly Clancy Mixed Signals, by Uri Gneezy The Power of Us, by Jay Van Bavel & Dominic Packer Quit, by Annie Duke Evolutionary Ideas, by Sam Tatam Top Recommended Next Episode: Unleashing the Power of DOSE Chemicals (ep 360) Already Heard That One? Try These:  iNcentives: The N in NUDGES (ep 36) Cobra Effect (ep 220) Game Theory (ep 228) Yves Boudreau Interview (ep 375) Tim Houlihan Interview (ep 392) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In episode 402 of The Brainy Business podcast, Annie Duke, a former professional poker player and author of the book Quit, joins host Melina Palmer to discuss the psychology of quitting and decision-making under uncertainty. Annie's transition from an academic to a professional poker player and her subsequent work in decision science provide a unique and valuable perspective on the topic. Throughout the conversation, Annie challenges traditional perceptions of quitting and emphasizes its crucial role in winning and strategic decision-making.  She introduces concepts such as pre-mortems and the mental model of monkeys and pedestals, offering practical tools and frameworks for making better decisions. The episode provides valuable insights into reframing the mindset around quitting, the importance of understanding when to quit, and the potential impact of decision education in various domains. Annie Duke's diverse background and expertise in decision science make this episode a must-listen for entrepreneurs and business owners seeking to enhance their strategic decision-making skills and achieve increased business success. In this episode: Discover the strategic benefits of quitting in business to unlock new opportunities and growth potential. Implement behavioral economics in your business to enhance decision-making and drive better outcomes. Learn how to strategically identify when to quit for long-term business success and resilience. Explore the Monkeys and Pedestals decision-making model for insightful strategies to improve decision-making processes. Overcome analysis paralysis and make decisive, effective decisions to propel your business forward. Show Notes: 00:00:00 - Introduction The episode introduces Annie Duke and her book Quit about the psychology of quitting and decision-making. 00:01:15 - The Importance of Quitting Annie explains how winners often say no and quit things to succeed, emphasizing the need to know what to stick with, what to quit, and when. 00:04:47 - Annie's Background and Transition Annie shares her journey from academia to professional poker and behavioral psychology, highlighting how her poker career led her back to her cognitive science roots. 00:08:40 - The Power of Diverse Perspectives Annie discusses the value of diverse experiences in decision-making and problem-solving, emphasizing the importance of different frames of thinking to bring unique insights to the table. 00:12:05 - The Pre Mortem Skepticism Annie shares her research on pre-mortems, expressing skepticism about their effectiveness as standalone decision tools and the need to combine them with other strategies for improving decision quality. 00:14:18 - Normalize Dissent and Prospective Hindsight Daniel Kahneman's advice on normalizing dissent allows for consideration of both good and bad outcomes. Prospective hindsight can generate 30% more reasons for failure or success. 00:15:19 - Pre Parade and Pre Mortem Tools Pre-mortem exercises influence confidence and introduce self-serving bias. The pre parade increases overconfidence, while the pre-mortem leads to attributing bad outcomes to external factors. 00:18:43 - Challenges in Behavior Change Difficulty in getting people to change plans despite pre-mortem insights. Anecdotal observations and studies show resistance to plan modifications across various domains, raising questions about the effectiveness of the exercise. 00:19:55 - Group Dynamics and Real-world Impact Need for group testing of pre-mortems to understand the impact of group dynamics. Potential for behavior change in high-stakes environments like work projects. Studies underway to explore these aspects in real-world scenarios. 00:22:23 - Thinking in Bets and How to Decide Annie's books Thinking in Bets and How to Decide explore decision-making under uncertainty. They provide practical tools and insights, such as pre-mortems, to improve decision accuracy and overcome cognitive biases. 00:27:11 - The Impact of Hindsight Bias Annie discusses how most of the time, we learn new things after the fact and act like we should have known them beforehand. She highlights the importance of tracking knowledge and listening to independent opinions to avoid biases. 00:27:52 - Overcoming Analysis Paralysis Annie explains the process of decision-making and the importance of making implicit factors explicit. She emphasizes the need to consider the consequences of decisions and the ability to change your mind later. 00:32:38 - The Value of Quitting Annie challenges the negative perception of quitting and emphasizes its value in decision-making. She shares insights from experts and individuals, highlighting the benefits of exercising the option to quit. 00:35:32 - Conversations with Experts Annie shares her conversations with influential figures like Michael Mobison, Daniel Kahneman, Richard Thaler, and others. These discussions inspired her to explore the topic of quitting further, leading to the creation of her book. 00:40:52 - The California Bullet Train Annie uses the example of the California bullet train project to illustrate the challenges of large-scale decision-making and the importance of considering all factors before committing to a course of action. 00:41:35 - The California Bullet Train Project Annie discusses the challenges faced by the California bullet train project due to the Diablo and Tehachapi mountain ranges. The budget explosion and the decision to continue building without addressing the engineering challenges are highlighted. 00:43:02 - Re-evaluation of the Project Gavin Newsom's decision to reevaluate the California bullet train project in 2018 is discussed. The project's failure to address the engineering problems of the mountain ranges and the budget increase to $110 billion are emphasized. 00:44:44 - Monkeys and Pedestals Framework Annie introduces the "Monkeys and Pedestals" framework, which emphasizes tackling the hard problems first before building pedestals. The concept of pre-mortems and setting kill criteria to identify and address project challenges is explained. 00:50:55 - Behavior Change and Future Planning The importance of behavior change in addressing project challenges and the application of pre-mortems and setting kill criteria to identify crucial information are discussed. The significance of identifying the "monkeys" before building "pedestals" is emphasized. 00:54:06 - Tackling Low Hanging Fruit The reverse approach to tackling projects, focusing on solving hard problems before addressing easy tasks, is highlighted. The importance of prioritizing crucial information and being smarter about project approach is emphasized. 00:54:54 - The Importance of Solving Hard Problems First Annie emphasizes the need to focus on solving the hard problem first before building pedestals. She highlights the concept of working on the greatest bike shed instead of the nuclear plant, as well as the law of triviality. 00:55:37 - The Pitfalls of Wasteful Thinking Annie discusses how people often fail to think ahead and waste time and resources on backward thinking. She emphasizes the importance of evaluating the worth of the next minute and dollar, shifting mindset from past to future. 00:56:24 - The Key to Success and Grit Annie explains that winners quit a lot, but they do it to focus on the right things. Grit is important, but only when applied to the right endeavors. She also touches on forced quitting and exploring new opportunities. 00:57:25 - The Importance of Flexibility and Agility Annie highlights the significance of being flexible and open to switching course if the current endeavor is not worthwhile. Winners sample a lot of things and settle on the right course of action, even if they don't know what they are switching to. 01:00:28 _  Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Annie: ANNIE’S WEBSITE ANNIE ON TWITTER ANNIE ON LINKEDIN Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Quit, by Annie Duke Subtract, by Leidy Klotz How to Decide, by Annie Duke Thinking in Bets, by Annie Duke Playing with Reality, by Kelly Clancy Top Recommended Next Episode: Game Theory (ep 228) Already Heard That One? Try These:  Matthew Confer Interview (ep 158) Counterfactual Thinking (ep 286) Framing (ep 296) Loss Aversion (ep 316) Status Quo Bias (ep 376) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter A Slight Change of Plans Podcast with Maya Shankar Annie’s Newsletter

On this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Dan Simons and Dr. Christopher Chabris, the renowned authors behind the bestseller The Invisible Gorilla. They dive deep into their groundbreaking research on inattentional blindness and how everyday cognitive habits can render us vulnerable to deception. Through engaging stories and revelatory insights, the duo discusses the dark side of our mental shortcuts and how scammers exploit them in art frauds, financial scams, and beyond.  With a focus on their new book, Nobody’s Fool, they offer strategies to recognize and resist deceptive tactics that prey on precision, familiarity, and efficiency in our thinking. Prepare to uncover the invisible gorillas in your life and sharpen your mental defenses against frauds. Tune in to rethink how you perceive reality and protect yourself from being misled. In this episode: Recognize the Impact of Inattentional Blindness on Decision-Making Employ Strategies to Avoid Deception in Business Apply Cognitive Psychology to Improve Marketing Efforts Understand the Psychology Behind Consumer Purchasing Behavior Show Notes: 00:00:00 - Introduction The episode begins with the introduction of the guests, Dr. Dan Simons and Dr. Christopher Chabris. They discuss their collaboration and the unexpected viral success of the study, which led to further research and applications in various fields. 00:04:08 - The Mismatch Between Perception and Intuition Dan and Christopher delve into the significance of The Invisible Gorilla, emphasizing the mismatch between what people actually notice and what they think they will notice. This mismatch highlights the limitations of human intuition and has broad implications for decision-making and behavior. 00:09:21 - Inattentional Blindness and Focus The guests explain that the failure to notice the gorilla is a consequence of our ability to focus attention and ignore distractions. They discuss how this phenomenon extends beyond visual attention and can lead to dangerous or problematic behaviors due to people's reliance on intuitive understanding. 00:11:21 - Unintended Consequences and Viral Impact Dan and Christopher reflect on the unexpected viral impact of their study and the idiosyncratic elements that captured people's imaginations. They acknowledge the role of luck and timing in the study's success and share their continued fondness for the gorilla-related work. 00:14:05 - Inattentional Blindness in Medical Contexts Dan and Christopher discuss the limited research on inattentional blindness in medical contexts, using controlled computer-based displays to understand the mechanism of noticing unexpected things. 00:15:26 - Can You Tell If Someone Is Watching You? Dan and Christopher talk about the common belief that people can tell if someone is watching them, despite the lack of evidence for it. They highlight how experiences can mislead us in forming intuitions. 00:16:43 - Misleading Experiences and Intuitions They discuss how experiences can mislead us, using the example of someone catching another person staring at them. They explain how remarkable events stick in our memory, leading to spurious relationships. 00:20:07 - Deception and Attention The conversation delves into how deception takes advantage of our cognitive tendencies, especially our ability to focus on what we care about. They emphasize the importance of asking good questions and seeking complete answers to avoid being deceived. 00:25:24 - Efficiency and Deception Dan and Christopher highlight how our efficiency in processing information can lead to oversight, emphasizing the need to slow down and critically evaluate the information presented. They discuss the importance of questioning and examining jargon and impressive-sounding claims. 00:27:05 - Efficiency and Decision Making The efficiency of our mental habits can sometimes hinder good decision making. While most of the time our cognitive tendencies work well, there are instances, such as driving at high speeds, where a slight delay in noticing something can be catastrophic. 00:29:13 - Cognitive Habits and Decision Making Dan and Christopher discuss the four cognitive habits that impact decision making: focusing, prediction, commitment, and efficiency. These mental habits are efficient and effective, but can lead to vulnerabilities when making important decisions. 00:32:43 - Scams and Cognitive Principles Many grand cons and scams rely on cognitive habits such as focusing, prediction, commitment, and efficiency. These scams take advantage of how our minds work, giving people what they expect and counting on them not to question critically. 00:33:08 - Information Hooks and Decision Making The conversation delves into the four information hooks that appeal to us and impact decision making: consistency, familiarity, precision, and potency. These hooks often lead us to trust information without questioning it as much as we should. 00:37:34 - Importance of Questioning Information Dan and Christopher emphasize the importance of questioning information and seeking more evidence before making decisions. They discuss the appeal of precise numbers, familiarity with sources, and the allure of quick-fix solutions. 00:40:28 - The Power of Deceptive Marketing Dan and Christopher discuss the appeal of deceptive marketing strategies, such as crypto advertising, which rely on familiarity, urgency, and the promise of quick financial gains. They highlight the rarity of giant benefits and caution against assuming the truth of such promotions. 00:41:52 - The Trojan Horse Scam The conversation touches on the concept of the trojan horse scam, emphasizing that while new variants of scams continue to evolve, they all rely on similar cognitive habits to deceive people. The hosts discuss the underlying principles of deceptive practices and the historical significance of the trojan horse scam. 00:43:17 - Uncovering Easter Eggs Dan hints at an Easter egg hidden in the book, prompting listeners to look for the trojan horse-shaped Easter egg within its pages. He encourages engagement by inviting people to connect with him on social media and explore his website for additional resources and information related to the book. 00:44:30 - Conclusion, What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Connect with Dan and Christopher: Nobody’s Fool Website Dan on LinkedIn Chris on LinkedIn Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: Look Again, by Cass Sunstein and Tali Sharot Nobody's Fool, by Christopher Chabris and Daniel Simons You Have More Influence Than You Think, by Vanessa Bohns A More Beautiful Question, by Warren Berger The Invisible Gorilla, by Christopher Chabris and Daniel Simons Top Recommended Next Episode: Jonah Berger Interview (ep 301) Already Heard That One? Try These:  Survivorship Bias (ep 110) Hindsight Bias (ep 167) Vanessa Bohns Interview (ep 318) Focusing Illusion (ep 330) Warren Berger Interview (ep 340) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

Welcome to the 400th episode of The Brainy Business podcast! In this milestone episode, Melina Palmer delves into the intriguing concept of survivorship bias, a critical thinking error that can significantly impact decision-making in business and personal life. Through engaging storytelling, Melina takes us back to World War II to uncover the origins of this concept and how it played a crucial role in military strategy.  She then brings the concept into contemporary contexts, illustrating how survivorship bias leads us to overvalue success stories while ignoring the vital lessons from failures. This episode not only celebrates our podcast’s journey but also equips you with practical insights to recognize and overcome survivorship bias in your ventures. Join Melina as she explores this bias’s profound implications on entrepreneurship, business strategies, and everyday decisions, helping you make more informed choices.  In this episode: Understand how survivorship bias impacts business success and decision-making. Explore the powerful influence of behavioral economics on shaping strategic choices in business. Discover effective strategies to overcome survivorship bias and drive more informed decision-making. Differentiate between correlation and causation in business strategies to make more impactful choices. Uncover the success factors that extend beyond survivorship bias and drive sustained business growth. Show Notes: 00:00:00 - Introduction Melina introduces the concept of survivorship bias and its relevance to business decisions. She emphasizes the impact of this bias on entrepreneurs and its influence on decision-making in various roles across industries. 00:04:08 - Abraham Wald and World War Two Melina delves into the story of Abraham Wald, a mathematician who discovered survivorship bias during World War Two. She highlights the significance of Wald's analysis of bullet holes on planes and the crucial insights it provided on reinforcing strategic spots. 00:09:16 - The Fallacy of Survivorship Bias The discussion focuses on the fallacy of survivorship bias in seeking advice for success. Melina provides examples of how survivorship bias leads to misconceptions about causation and correlation, using narratives of successful individuals as illustrations. 00:11:31 - Business Applications of Survivorship Bias Melina explores the business applications of survivorship bias and its implications for decision-making. She emphasizes the complexity of success and the dangers of assuming a one-size-fits-all approach based on survivorship bias. 00:13:56 - Correlation vs. Causation The conversation delves into the distinction between correlation and causation, highlighting the misconceptions that arise from survivorship bias. Melina illustrates the importance of discerning causation for making informed decisions in business and life. 00:15:46 - Survivorship Bias in Conclusions Not all successful CEOs wake up at 05:00 a.m. Correlation doesn't imply causation. It's important to consider all data points and not draw conclusions based on one aspect. 00:16:21 - Success and Failure in Publishing For every popular book, there are a million unsuccessful books and authors. It takes trial and error and hard work to succeed. Learn from others' experiences and determine what works for your goals. 00:18:07 - The Illusion of the Best Product The best products don't always lead the market. Being the best or first doesn't guarantee success. Look at all possible data points and consider what's missing for your business venture. 00:19:55 - Customer Feedback and Satisfaction Customer satisfaction surveys may not capture all feedback. Consider the concerns of those who didn't choose your business. Look beyond extreme examples and aim for a complete data set for feedback. 00:23:49 - Openness to Unexpected Findings Be open to the things you aren't looking for. Anomalies and unconventional ideas could lead to valuable insights. Consider reframing questions and exploring untested areas to avoid survivorship bias. 00:24:48 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn. Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.  I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation. Let’s connect: [email protected] The Brainy Business® on Facebook The Brainy Business on Twitter The Brainy Business on Instagram The Brainy Business on LinkedIn Melina on LinkedIn The Brainy Business on Youtube Learn and Support The Brainy Business: Check out and get your copies of Melina’s Books.  Get the Books Mentioned on (or related to) this Episode: How to Change, by Katy Milkman What Your Employees Need and Can't Tell You, by Melina Palmer Alchemy, by Rory Sutherland The Invisible Gorilla, by Christopher Chabris and Daniel Simons Nobody's Fool, by Christopher Chabris and Daniel Simons Top Recommended Next Episode: David McRaney Interview (ep 336) Already Heard That One? Try These:  Hindsight Bias (ep 167) What Your Employees Need and Can't Tell You (ep 225) Jonah Berger Interview (ep 301) Warren Berger Interview (ep 340) Cass Sunstein Interview (ep 371) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter What Every Founder Needs to Know About Survivorship Bias Why It’s So Hard To Succeed – The Survivorship Bias You are missing something! – Survivorship bias 7 Lessons on Survivorship Bias that Will Help You Make Better Decisions How the Survivor Bias Distorts Reality Survivorship Bias: The Tale of Forgotten Failures Missing what’s missing: How survivorship bias skews our perception The College Dropout Problem Hilarious Graphs Prove That Correlation Isn’t Causation The 10 Most Bizarre Correlations