The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

In this episode of The Brainy Business podcast, Melina Palmer revisits an insightful discussion on the lessons every business can learn from NASA. Originally aired in the summer of 2019 to commemorate the 50th anniversary of the moon landing, this episode explores the remarkable success of NASA's missions and their relevance to business strategies today. Melina explores the historical context of NASA's achievements, highlighting President Kennedy's influential speech that galvanized public support and set a bold deadline for landing a man on the moon. The episode uncovers five key lessons from NASA's Mercury, Gemini, and Apollo missions that businesses can adopt: identifying problems and solutions, the significance of testing and timely action, the power of delegation and support, the impact of visibility, and the importance of word choice. In this episode: Discover how NASA tackled unprecedented challenges with innovative solutions. Learn the importance of testing and moving forward decisively. Understand how delegation and support can empower teams to achieve greatness. Explore the benefits of transparency and visibility in rallying support. Gain insights into the critical impact of word choice in leadership and communication. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the episode and its focus on the lessons businesses can learn from NASA. 00:02:00 - The Historical Context Discussion on the significance of the moon landing and the strategic vision set by President Kennedy. 00:07:00 - Overcoming Functional Fixedness Insights into NASA's ability to think beyond conventional uses and innovate solutions. 00:13:00 - Testing and Moving Forward The importance of testing phases and knowing when to progress to the next stage. 00:20:00 - Autonomy and Support How NASA empowered its teams and the lessons for business leadership. 00:27:00 - The Role of Visibility The impact of transparency and shared goals in motivating teams and stakeholders. 00:33:00 - Importance of Word Choice The power of strategic communication and its lasting impact on motivation and success. 00:36:00 - 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: 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: Amazon (ep 159) 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) Apple Card: A Behavioral Economics Analysis (ep 42) Other Important Links:  14th Annual People’s Choice Podcast Awards Apollo 1’s Fatal Fire Almost Ended the Program | Apollo John F. Kennedy Moon Speech – Rice Stadium President Kennedy’s Speech at Rice University ‘No university is more synonymous with NASA than Rice’ How The Cold War Launched The Space Race Fierce Conversations: Achieving Success at Work and in Life One Conversation at a Time NASA History Overview Immunity to Functional Fixedness in Young Children NASA Johnson Space Center Oral History Project Edited Oral History Transcript This is the actual hack that saved the astronauts of the Apollo XIII Lessons in Manliness from Gene Kranz

In this episode of The Brainy Business podcast, Melina Palmer is joined by Steve Martin, the acclaimed author of Influence at Work and a leading expert in the psychology of persuasion. Steve is known for his collaboration with Robert Cialdini and his extensive work in applying influence and persuasion science to business and public policy.  Steve shares insights into his influence equation, a framework designed to simplify the complex nature of influence by integrating evidence, economics, and emotion. The conversation explores the transformational potential of influence beyond mere transactional interactions, emphasizing its role in organizational and global change. Steve also highlights the importance of context in determining the balance of these elements and shares practical examples from his research and experiences. In this episode: Explore the influence equation and learn how to apply it for transformational change. Understand the role of reciprocity in building relationships and networks. Discover strategies for influencing large organizations towards consumer-centric approaches. Gain insights from Steve's most frequently asked questions on influence. Learn about the importance of context in crafting successful influence strategies. Show Notes: 00:00:00 - Introduction Melina Palmer introduces Steve Martin and his work in influence and persuasion. 00:04:12 - Steve's Background Steve discusses his journey and collaboration with Robert Cialdini. 00:10:30 - Influence Equation Introduction to the influence equation and its components: evidence, economics, and emotion. 00:20:45 - Reciprocity and Relationships The role of reciprocity in influence and relationship-building. 00:30:12 - Transformational Change Strategies for influencing large organizations towards consumer-centric approaches. 00:40:50 - Top 10 Influence Questions Steve shares his answers to frequently asked questions about influence. 00:50:35 - 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 Steve: 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 Influence at Work, by Steve Martin Invisible Influence, by Jonah Berger Top Recommended Next Episode: Robert Cialdini Interview (ep 312) Already Heard That One? Try These:  Social Proof (ep 87) Reciprocity (ep 238) Zoe Chance Interview (ep 308) Unity (ep 216) Vanessa Bohns Interview (ep 318) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter

In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating world of social proof, a cornerstone of behavioral economics and a powerful tool for influencing decision-making. Melina goes beyond mere ratings and reviews, emphasizing our inherent tendency as a herding species to look to others for guidance in decision-making. She discusses how businesses can effectively leverage social proof to build trust and credibility, using real-world examples and the six types of social proof: expert, celebrity, user, wisdom of the crowd, wisdom of friends, and certification. In this episode: Learn about the origins of social proof and its significance in behavioral science. Discover the six types of social proof and how they can be utilized in business strategies. Explore practical examples of social proof in action, from testimonials to celebrity endorsements. Understand the psychological mechanisms behind social proof and its impact on consumer behavior. Gain insights into how to incorporate social proof into your business effectively. Show Notes: 00:00:00 - Introduction Melina Palmer introduces the episode and the relevance of social proof in behavioral economics. 02:30:00 - The Origin of Social Proof Discussion on Robert Cialdini's introduction of social proof in his book Influence. 11:00:00 - Types of Social Proof Overview of the six types of social proof: expert, celebrity, user, crowd wisdom, friends' wisdom, and certification. 21:00:00 - Expert and Celebrity Influence How experts and celebrities can provide social proof and the importance of alignment with brand values. 31:00:00 - User and Crowd Wisdom The role of user testimonials and crowd wisdom in influencing decisions. 36:00:00 - Friends' Wisdom and Certification Leveraging friends' recommendations and certifications for credibility. 41:00:00 - Ethical Considerations Discussion on the ethical use of social proof in marketing and business. 43:00:00 - 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: Prefactual Thinking: How to Turn “What If” Into “Why Not” (ep 71) 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 Principles of Persuasion The Psychology of Marketing: 18 Ways to Use Social Proof to Boost Your Results The Open Psychology Journal 20 Examples of Social Proof in Action in 2020 Principles of Persuasion The Psychology of Marketing: 18 Ways to Use Social Proof to Boost Your Results The Open Psychology Journal

In this episode of The Brainy Business podcast, Melina Palmer is joined by DJ Sprague, an expert in e-commerce, enterprise sales, and reputation management. DJ has worked with major brands such as Hyundai, Toyota, and NASCAR, and has a wealth of experience in improving online brand reputation and increasing site traffic and conversions. As the CMO of Shopper Approved, DJ shares insights into creating an integrated marketing strategy that delivers a cohesive brand experience to delight customers. The conversation kicks off with DJ's entrepreneurial journey, including his early success in the limousine business, where he differentiated his service by providing a five-star experience. This strategy of exceeding customer expectations is a recurring theme throughout the episode. DJ emphasizes the importance of an integrated marketing strategy, where every department aligns to deliver on the brand promise, ensuring a consistent and memorable customer experience. In this episode: Discover how to create a five-star customer experience that delights and retains clients. Learn the importance of an integrated marketing strategy for brand consistency. Understand the role of reputation management in driving traffic and conversions. Explore strategies for leveraging reviews and Q&A content to enhance SEO and brand authority. Gain insights into the peak-end rule and its impact on customer satisfaction. Show Notes: 00:00:00 - Introduction Melina Palmer welcomes DJ Sprague and introduces the topic of integrated marketing and reputation management. 00:04:00 - DJ's Background DJ shares his journey from running a limousine business to becoming CMO of Shopper Approved. 00:12:45 - Creating a Five-Star Experience DJ discusses the importance of exceeding customer expectations to create memorable experiences. 00:22:00 - Integrated Marketing Strategy The conversation explores how integrated marketing ensures consistency across brand touchpoints. 00:35:00 - Reputation Management DJ explains how effective reputation management can boost traffic and sales. 00:45:30 - Leveraging Q&A for SEO Strategies for using Q&A content to improve search rankings and brand credibility. 00:49:47 - 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 DJ: 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: Reputation King, by Scott Brandley and DJ Sprague What Your Customer Wants and Can't Tell You, by Melina Palmer Choice Hacking, by Jennifer Clinehens Elements of Choice, by Eric Johnson Alchemy, by Rory Sutherland Top Recommended Next Episode: Robert Cialdini Interview (ep 157) 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) Roger Hurni Interview (ep 405) Other Important Links:  Brainy Bites - Melina’s LinkedIn Newsletter