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Branding, Judgement, and the Luxury of a Mask

The Masked Singer had its finale and the top three celebrity contestants were (finally!) revealed: Gladys Knight, Donny Osmond, and T-Pain. This is not the first time a competition has used anonymity and blocked out the senses to help contestants have a “fair” shot. NBC’s The Voice has some obvious similarities. So, what makes The Masked Singer different, and what is the lesson every business should be gleaning from the show? Let me start by introducing how the brain works and how The Masked Singer used these concepts to its advantage. Judging Brain The human brain is quick to judge – the subconscious constantly scans its environment for information (approximately 11 million bits per second). There is a lot of[….]

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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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