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Nebraska - Honestly, Its Not For Everyone

Nebraska – Honestly, It’s Not For Everyone

Advertisements for tourism are often cliche and Utopian in their focus. But, what if your city, state or country doesn’t have landmarks people often seek out? What if you are a place people are more likely to drive through than plan a trip to? How can you get people to think of you differently so you can increase tourism? That’s where behavioral economics comes in. If you listen to The Brainy Business podcast or have heard me speak, you have likely heard me say “perception is reality” more than once. That is because of how the brain forms opinions and ideas. If someone has a strong belief about something – like, “Nebraska is just a state you drive through” –[….]

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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[….]

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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,[….]

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