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Podcast Episodes

What is behavioral economics? Why does it matter to you?

Podcast Episodes

What is behavioral economics? Why does it matter to you?

152. A Surprise Guest…

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Today there is a very special interview taking place on the show, in that the person being interviewed is…me! And, no, it isn’t me asking myself questions. I guess that is kind of like every solo episode I’ve done or much weirder where I would speak about myself in the third person.
The interviewer today is Michael Bartlett. He is the Director of Experience Innovation at JMARK and also trains people to pass the Certified Customer Experience Exam (CCXP). We got connected because he is hooked on books. As an avid book junkie, he reviews many of them on his YouTube channel, called the “CCXP Exam Simulator.”
As he was prepping to do a review of my new book, What Your Customer Wants and Can’t Tell You, for his YouTube channel, he asked if I had considered having someone turn the tables a bit to interview me here on The Brainy Business. I said why not! As I’ve always found it much easier to answer questions about myself and an experience, than to just talk about it. I hope you enjoy the conversation as much as I did!

Show Notes:

  • [00:38] Today there is a very special interview taking place on the show, in that the person being interviewed is…me!
  • [01:03] The interviewer is Michael Bartlett. He is the Director of Experience Innovation at JMARK and also trains people to pass the Certified Customer Experience Exam (CCXP).
  • [04:24] If you want to understand customers you have to understand how their minds work. 
  • [04:52] Melina shares her journey and interest in behavioral economics. 
  • [07:28] Fun fact: She is a classically trained opera singer and enjoys singing – this led to a big realization about a tendency toward perfectionism in life and business. 
  • [09:58] It can really be one piece that is throwing everything else off just a little bit. 
  • [11:47] Our brains will limit us and feel like you pushed too far. Your body can keep going but your mind feels like you should stop. 
  • [12:34] How our brain can hold us back psychologically in sports also translates into business. 
  • [12:46] Michael shares about his journey. 
  • [14:13] Melina shares how and why The Brainy Business came about. She was writing blogs for entrepreneurs and editing books as a side hustle. 
  • [16:32] When they moved, she had a unique opportunity to really just focus on school for her master’s degree and building a new type of business around behavioral economics. 
  • [19:04] On May 19, 2018, after encouragement from a mastermind, Melina started to rebrand her company and launched the podcast with its first three episodes on July 6, 2018. 
  • [20:13] Melina always knew she would have a book. 
  • [21:53] She ended up finalizing her publisher in late May 2020 and the full manuscript was due at the end of August – a summer of writing! 
A very special interview on The Brainy Business podcast, in that the person being interviewed is... 🕵️‍♀️ #behavioraleconomics #behavioralscience Click To Tweet
  • [23:30] When reading the book, you can focus on the areas that really interest you or learn more about a particular subject. She also includes corresponding podcast episodes. 
  • [25:03] She had an idea of some topics that needed to be in the book. She created it similar to a “choose your own adventure” book in the way that you can follow the parts that interest you most. Interconnectivity is so critical to how the brain works and that was important to reflect in the book’s format. 
  • [26:06] She gives her readers the opportunity to make connections to jump around in a controlled environment. She is creating a course that will be available to purchase and go along with the book and go even deeper. 
  • [28:24] At the end of the book, Melina gives a really good example of how you can chain these techniques altogether. 
  • [30:01] Melina really wants her readers to use, apply, and do what they set out to do with the book. 
  • [30:50] The most important thing for when you are going to get started is spending more time thinking about the problem. Taking the time to know what you are doing, why you are doing it, and why it matters is paramount. 
  • [31:42] You can go and use behavioral economics and have a good impact within your business if you take the time to understand the concepts and how they can work together. Everything is a learning opportunity to grow.
  • [32:21] There are times when you should reach out and find a partner, especially if it is a really big and critical project. 
  • [33:32] Test small and test often. 
  • [35:18] Melina shares the books that have inspired and impacted her. 
  • [38:02] Melina shares her two recommendations of books to really dig into behavioral economics. 
  • [39:23] First nugget Michael really liked from Melina’s new book was when she reminded everybody about the importance of first impressions and the mode people are in when they first encounter your business. 
  • [39:46] Michael shares two quotes that were huge takeaways from Melina’s book. 
  • [41:35] Melina shares her closing thoughts. 
  • [42:49] Melina’s first book, What Your Customer Wants and Can’t Tell You is now available on AmazonBookshop, Barnes & Noble, Book Depository, and Booktopia.

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:

More from The Brainy Business:

  • 🎉🎉🎉 Preorder Melina’s new book, What Your Customer Wants (And Can’t Tell You) on AmazonBookshop, and Barnes & Noble 🎉🎉🎉

Connect with Michael:

Check out (and preorder!) What Your Customer Wants and Can’t Tell You on AmazonBookshop, Barnes & Noble, Book Depository, and Booktopia

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