The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Melina Palmer
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Consumers are weird. They don't do what they say they will do and don't act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you're a small business or thriving corporation, Melina's tips can help your business increase sales and get more customers.

  1. -1 ДН.

    Conquering Procrastination in Business

    In this episode of The Brainy Business podcast, Melina Palmer revisits the concept of bikeshedding, a phenomenon that leads us to obsess over trivial details while neglecting the more significant issues that drive progress. Originally discussed in episode 99, Melina brings this foundational topic back into focus as we navigate the complexities of decision-making in a rapidly changing environment. Bikeshedding, a term coined by Cyril Northcote Parkinson, highlights our tendency to spend excessive time on inconsequential tasks—like perfecting a logo color—at the expense of critical decisions that can impact our success. Melina explains how this behavior can hinder our productivity and offers practical strategies to overcome it. She discusses the relationship between bikeshedding and Parkinson's Law of Triviality, emphasizing the importance of prioritizing meaningful work over distractions. In this episode: Understand the concept of bike shedding and how it manifests in everyday decision-making. Learn about Parkinson's Law of Triviality and its implications for productivity. Discover practical questions to ask yourself to break free from bikeshedding and focus on what truly matters. Explore the significance of setting clear goals to combat procrastination and maintain momentum. Gain insights into how to balance feedback from others while staying true to your own objectives. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/532. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    36 мин.

  2. -6 ДН.

    Learn From Losing: The Psychology of Resilient Leadership

    In this episode of The Brainy Business podcast, Melina Palmer engages in a thought-provoking conversation with Sebastian Page, author of The Psychology of Leadership. They explore the fascinating intersection of sports psychology and leadership, discussing how the lessons learned from athletes can transform the way we approach challenges in the business world. Sebastian shares his journey from a high-stress career in money management to a deep exploration of psychology, emphasizing that effective leadership is not just about winning but about learning from losses. He highlights the importance of resilience, the impact of stress on performance, and how a long-term mindset can guide decision-making. Throughout the episode, Melina and Sebastian delve into the concept of goal-induced blindness, illustrating how an excessive focus on outcomes can hinder our ability to see the bigger picture. In this episode: Discover how sports psychology can inform and enhance leadership practices. Learn about the significance of embracing losses as opportunities for growth. Understand the concept of goal-induced blindness and its implications for high performers. Explore the optimal levels of stress for different tasks and how to manage them effectively. Gain insights into the importance of self-care and well-being for effective leadership. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/531. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    43 мин.

  3. 9 СЕНТ.

    Building Authentic Brands

    In this episode of The Brainy Business podcast, Melina Palmer welcomes back Dr. Tessa Misiaszek, co-author of the insightful book, Branding That Means Business. This refreshed conversation dives deep into the importance of aligning internal culture with external brand promises, exploring how values can shape a brand's identity and influence consumer trust. Tessa shares her expertise on how organizations can authentically live their values and create a meaningful brand experience. She discusses the critical role of empathy in understanding consumer needs and how this understanding can lead to effective marketing strategies. Throughout the episode, Melina and Tessa examine the evolving landscape of branding, especially in a world where consumers demand transparency and authenticity from the brands they support. In this episode: Understand the significance of aligning internal culture with external branding. Learn how empathy can enhance marketing strategies and brand authenticity. Explore the process of defining and operationalizing brand values. Discover how to adapt brand strategies to meet the changing expectations of consumers. Gain insights into the importance of transparency in building consumer trust. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/530. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    48 мин.

  4. 4 СЕНТ.

    529. Lights, Camera, Brainy: Launching Our New YouTube Channel

    In this episode of The Brainy Business podcast, Melina Palmer shares the exciting launch of the brand new YouTube channel, @BrainyMelina, and the journey that led to this moment. After years of planning and preparation, Melina discusses the importance of timing and readiness in expanding The Brainy Business brand into video content while maintaining the integrity of the existing podcast. Listeners will hear about the challenges and insights gained during the process of creating a new channel that reflects Melina's passion for human behavior and behavioral science. From researching YouTube trends to understanding the nuances of content creation, Melina emphasizes the significance of aligning expectations with audience perceptions. She also highlights the importance of creating unique content tailored for video, rather than simply repurposing existing podcast material. This episode provides a behind-the-scenes look at the launch, including the first video on the curious case of Crystal Pepsi, and gives listeners a taste of the new format with engaging shorts and deeper dives into behavioral economics. In this episode: Celebrate the launch of the new YouTube channel, @BrainyMelina. Understand the importance of timing and readiness in business expansions. Explore the challenges of adapting content for different platforms. Learn about the psychological impact of setting clear expectations for products. Discover the exciting content planned for the new channel, including behavioral breakdowns and shorts. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/529. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    16 мин.

  5. 2 СЕНТ.

    528. Nostalgia and Tradition: The Emotional Ties that Drive Consumer Behavior

    In this episode of The Brainy Business podcast, Melina Palmer explores the fascinating psychology behind nostalgia and traditions, uncovering why our brains are wired to cherish these experiences. This episode revisits the powerful emotional connections that nostalgia can create, influencing decision-making, brand loyalty, and innovation. Melina delves into the origins of nostalgia, revealing its roots in human experience and the benefits it brings, such as increased self-esteem and social belonging. She discusses how nostalgia can be harnessed in marketing strategies to foster deeper emotional connections with customers, especially during significant life transitions. Listeners will learn how to evaluate their own traditions and consider whether they serve their business goals or need a refresh. The episode also highlights the importance of sensory experiences in triggering nostalgia and how brands can effectively integrate these elements into their marketing efforts. Melina shares anecdotes and insights into how traditions shape our lives and influence our purchasing behaviors, encouraging listeners to reflect on their own experiences and the traditions that matter most to them. In this episode: Understand the psychological significance of nostalgia and how it impacts decision-making. Explore the origins of nostalgia and its benefits for emotional well-being. Learn how to leverage nostalgia in your marketing strategies to enhance customer connections. Discover the role of sensory experiences in triggering nostalgic memories. Reflect on your own traditions and evaluate their relevance in your business today. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/528. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    29 мин.

  6. 28 АВГ.

    Deep Listening: The Secret to Connection and Understanding

    In this episode of The Brainy Business podcast, Melina Palmer welcomes Emily Kasriel, author of the insightful book, Deep Listening. Together, they explore the transformative power of deep listening in fostering better communication, stronger relationships, and effective leadership in both personal and professional settings. Emily, an award-winning journalist and executive coach, shares her journey in developing the Deep Listening Project, emphasizing the importance of truly hearing others in a world filled with noise. Through engaging discussions and a live demonstration, Melina and Emily delve into the eight essential steps of deep listening, illustrating how this practice can create meaningful connections, even across lines of disagreement. As you listen, reflect on your own experiences with listening and consider how you can incorporate these practices into your daily interactions. This episode is packed with actionable insights that can lead to profound changes in how you relate to others. In this episode: Discover the significance of deep listening and its impact on human connection. Learn the eight steps of deep listening and how to apply them in your conversations. Understand the role of silence and presence in effective communication. Explore how deep listening can enhance leadership and team dynamics. Gain insights into the importance of curiosity and empathy in building relationships Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/527. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    48 мин.

  7. 26 АВГ.

    Bridging the Gap: How Simple Conversations Can Combat Loneliness

    In this episode of The Brainy Business podcast, Melina Palmer welcomes Nick Epley, a professor of behavioral science at the University of Chicago's Booth School of Business. Together, they explore the profound impact of everyday interactions and the often-overlooked value of connecting with others, even in brief exchanges. As loneliness reaches epidemic levels, Nick shares his insights on how simple gestures like saying hello or offering a compliment can significantly enhance our well-being and foster a sense of belonging. He discusses the psychological barriers that prevent us from engaging with others, revealing how our assumptions about social interactions often lead us to underestimate their positive effects. Throughout the episode, Melina and Nick discuss practical strategies for initiating conversations with strangers and deepening connections with those around us. By shifting our mindset and embracing the potential for meaningful interactions, we can enrich our lives and the lives of others. In this episode: Understand the psychological barriers that prevent meaningful social interactions. Discover the benefits of reaching out to strangers and initiating conversations. Learn how simple acts of kindness can enhance well-being and foster connection. Explore practical tips for engaging in deeper conversations and building relationships. Reflect on the importance of social connection in both personal and professional settings. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/526. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    50 мин.

  8. 21 АВГ.

    Unpacking Left Digit Bias with Choiceology

    In this exciting crossover episode of The Brainy Business podcast, Melina Palmer teams up with Katy Milkman, host of the acclaimed Choiceology podcast from Charles Schwab. Together, they delve into the intriguing concept of left digit bias, a psychological phenomenon that influences how we perceive prices and make decisions. As Melina shares her experience as a guest on Choiceology, listeners will learn about the powerful implications of left digit bias, from its impact on pricing strategies—like why $4.99 feels significantly cheaper than $5—to its effects in various domains, including healthcare and consumer behavior. The episode features compelling stories, including the history of iTunes' pricing strategy and how subtle shifts in numbers can lead to significant outcomes in both personal and professional contexts. Throughout the episode, Melina and the guests discuss real-world applications of left digit bias, illustrating how it can affect everything from diamond purchases to medical decisions. Listeners will gain insights into how this bias shapes our choices and how being aware of it can lead to better decision-making. In this episode: Understand the concept of left digit bias and its influence on pricing perception. Explore the historical context of iTunes' pricing strategy and its revolutionary impact on the music industry. Learn how left digit bias affects medical decisions and the implications for patient care. Discover practical tips for navigating significant purchases by leveraging left digit bias. Gain insights into how awareness of this bias can improve decision-making in various aspects of life. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/525. Looking to explore applications of behavioral economics further?  Learn With Us on our website. Subscribe to Melina’s Newsletter Brainy Bites.  Let’s connect: Send Us a Message Follow Melina on LinkedIn The Brainy Business on Youtube The Brainy Business on Instagram

    37 мин.
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Consumers are weird. They don't do what they say they will do and don't act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you're a small business or thriving corporation, Melina's tips can help your business increase sales and get more customers.

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