6 Killer Behavioral Economics Principles for Business

6 Killer Behavioral Economics Principles for Business

We all have 100s of cognitive biases that influence our daily behavior. So do your customers. That’s why – despite your objectively great products, services and campaigns – you may not be getting the outcomes you need; whether it’s revenue, action or customer satisfaction and loyalty.

Our highly practical courses provide you the basic skills and confidence to apply behavioral economics (or neuromarketing) techniques to your own product or service offering to immediately boost your business AND customer outcomes. Modules are bite-sized, with a focus on the most impactful behavioral economics principles, and templates to step you through each application. Our courses are easy to understand and not overly academic.

Learn a quick and simple way to influence consumer behaviour with tried and tested techniques based on scientific principles and marketing psychology.

This course will cover some of the more powerful behavioral economics techniques, including:

• The decoy effect

• The power of defaults

• Social Proof

• Choice overload

• The Endowment Effect

• Prospect Theory

The best part is, behavioral science techniques are often quick and low cost to apply, but can lead to strong results.

The course is created by Clarissa and David, a small but dynamic team based in Brisbane, Australia, with a passion for experience and behavior design – to improve people’s lives through health, wealth and happiness. Clarissa and David have practiced in many different disciplines, primarily in large corporations, not for profit organisations and Government. Their experience is highly practical with 1000s of hours interacting with real customers, employees and citizens. That’s where they discovered how important understanding and leveraging irrational behavior is!

Learn how to apply psychology to your business to work WITH the biases of your customers to get quick, low cost results.

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What you will learn

• How to apply tested behavioural economics (neuromarketing) techniques to boost your business and customer outcomes - quickly and at low cost.
• Understand the psychology of consumer behaviour and how to influence it in the context of Marketing Techniques (pricing, product, promotion and distribution)
• Gain solid knowledge about prospect theory, social proof, defaults and decoys, the endowment effect and choice overload.

Rating: 4.25

Level: Beginner Level

Duration: 1 hour

Instructor: Clarissa Keil