Melina Palmer: Using Behavioral Economics to Help Businesses
Melina Palmer is the host of The Brainy Business podcast and she has dedicated her career to seeking answers to these questions for herself and her clients. Melina uses behavioral economics to help everyone from global corporations to entrepreneurs understand the psychology of why people buy, unlocking the secrets of small changes that make a big difference via her podcast, public speaking, and column on Inc.com. The result is messaging, branding, advertisements, pricing and products that are more “brain-friendly” (meaning more leads, conversions, and revenue).
Our conversation with Melina covered the anchoring effect and what a powerful tool it can be for both sellers and buyers alike. We also chatted about her John Mayer playlist on Pandora and some of the things she’s doing to make the world a better place through the education of behavioral economics and neuroscience.
Kurt and Tim are also announcing our newest podcast, Weekly Grooves, which will be launching shortly, and we hope you’ll check it out.
Groove idea for the week: What are you doing to integrate the anchoring effect into your business or your personal life?
© 2020 Behavioral Grooves
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AIRDATE: January 19, 2020 EPISODE 109
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Melina Palmer: Using Behavioral Economics to Help Businesses
Featured Guest
Melina Palmer
LINKS
Brainy Business Website: https://www.thebrainybusiness.com
Melina’s INC.com articles: https://www.inc.com/author/melina-palmer
Melina’s Facebook: https://www.facebook.com/thebrainybiz/
Melina’s Instagram: https://www.instagram.com/thebrainybiz/
Melina’s YouTube: https://www.youtube.com/c/thebrainybusiness
Melina’s Twitter: https://twitter.com/thebrainybiz
Melina’s LinkedIn: https://www.linkedin.com/in/melina-palmer-36ab8712/
Melina’s John Mayer Playlist: https://pandora.app.link/UrWQ28B6l3
Anchoring Effect: https://en.wikipedia.org/wiki/Anchoring
Decoy Effect: https://en.wikipedia.org/wiki/Decoy_effect
Ran Kivetz, PhD: https://www8.gsb.columbia.edu/cbs-directory/detail/rk566
Katy Milkman’s Fresh Start Habit: https://magazine.wharton.upenn.edu/digital/katherine-milkmans-fresh-start-study-becomes-perennial-media-favorite/
Counterfactual Thinking: https://en.wikipedia.org/wiki/Counterfactual_thinking
Seattle Mariners: https://en.wikipedia.org/wiki/Seattle_Mariners
Audacity (digital audio workstation): https://www.audacityteam.org/
George Loewenstein, PhD: https://www.cmu.edu/dietrich/sds/people/faculty/george-loewenstein.html