LISTEN TO MY LATEST PODCAST EPISODE

Super Bowl Commercials 2019: A Behavioral Economics Review

Yesterday was the Super Bowl. Sure, football was played (sort of…not the most exciting game in history), but I was in it for the commercials. Last year, there was an obvious standout “winner” for me (It’s a Tide Ad)…2019 did not have the same overwhelmingly obvious “best” commercial from a behavioral economics perspective. So, instead of narrowing it down to one “winner” I am going to showcase some commercials I think did a great job incorporating behavioral economics concepts (whether they know it or not). And…one ad that was a BE fail… Hyundai – The Elevator This ad did a great job associating how bad a normal car buying experience can be (“Oh, you’re going down…way down.”) and showing all[….]

READ MORE

The Most Ridiculous Loss Aversion Example

Episode 9 of The Brainy Business podcast (which came out today) was the first Behavioral Economics Foundations episode, and it was dedicated to Loss Aversion. In it, after a list of GOOD examples for loss aversion (including those for real estate agents, financial institutions, accountants, business coaches, wedding retailers, and more) I give an example of a very ridiculous pop up that came up on a website trying to sell an online product. Loss Aversion Taken Too Far This is an example of taking loss aversion too far, where you might inadvertently trigger the conscious brain to be flagged for the wrong reasons, and talk your potential customer right out of a sale. It actually does a lot of things[….]

READ MORE

Simple tips to make this ad more brain friendly

While in a mall recently, I saw this advertisement plastered everywhere. Me being me…I analyzed what I saw from a marketing/branding/behavioral economics perspective. (Just ask my very supportive husband, who is very patient when I stop repeatedly wherever we happen to be – airports, malls, whatever – to take pictures of ads I want to post about and analyze in the future.) I knew right away what was wrong with this piece, and my thoughts were echoed via my beloved social media community when I asked them to weigh in yesterday. (Thank you to all who contributed to the conversation!) The “wrong” is pretty obvious. Tracey Warren (of the amazing InSpark Coworking) put it perfectly and succinctly when she commented,[….]

READ MORE