Design thinking everywhere Design thinking as a problem solving methodology has been all over the business world lately and most recently featured in a Harvard Business spotlight on “the evolution of design thinking”. In case you’ve missed all this I wanted to share some of the basics around the methodology and get you up to speed with this…
Read more
Idea The average modern American supermarket offers around 47,000 products and the default thinking of marketers around choice is; the more choice the better. This idea is about how fewer choices can sometimes actually give more sales and explores how to think about applying this to your business for higher sales and increased customer satisfaction. Background Research In research it…
Read more
Idea Many marketers understands the idea of “first choice”; that if your product is chosen once, your chance of being selected again greatly increases. This idea is about how that choice works and how you can improve choice architecture to gain a higher likelihood of first choice and subsequent choices, ultimately resulting in higher sales. Background…
Read more
Idea This idea is about the “IKEA effect” and how it can help your business to change the way you think about products and to enable co-creation within the marketplace to achieve a higher valuation of your products. The “IKEA effect” is a cognitive bias that occurs when people place a disproportionate high value to…
Read more
Idea This idea is about how you can use the behavioral insight of the “identifiable victim effect” to change the communication of your charity to double donations to your cause. The “identifiable victim effect” describes the idea that we as humans care more about other people when they are represented by a specific individual with an…
Read more
Idea This idea is about how social and market norms influence your brand’s relationships with consumers. Below we look at the key concepts of norms and why it is important to consider under which norm your brand operates. Knowing the norms has the potential to enable better future decisions making about the type of relationship…
Read more
Idea This idea is about how something as easy as changing the frame of reference for a product can achieve a better ROI by delivering a higher perceived value. Have a look at the angry Austrian dairy farmer below (Warning: the video contains profanities): The farmer changes the frame of reference for milk by comparing…
Read more
Idea This idea is about how you can improve your business strategy by applying learnings from the British government and the field of behavioral economics. I want to introduce one of the most important processes any CEO or CMO can pickup today, which is the process to “Test, Learn and Adapt” in conjunction with randomised…
Read more
Idea This ideas is focusing on the possibilities to use the concept of “Reward substitution” to improve education. The key concept of reward substitutions is the following; when you place a short term salient reward it changes how people discount future rewards. Basically that you are more likely to play Xbox now than to study for…
Read more