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

In this episode of The Brainy Business podcast, Melina Palmer sits down with Bob Goodson, co-author of the intriguing book, Like: The Button That Changed the World. Bob takes us on a captivating journey through the origins and evolution of the "like" button, a seemingly simple feature that has profoundly influenced our digital interactions and consumer behavior. As the first employee at Yelp, Bob shares firsthand insights into the development of the like button and how it transformed the way we express approval online. He discusses the significance of the thumbs up symbol, its psychological impact, and the broader implications for technology, innovation, and customer experience. Throughout the conversation, Melina and Bob explore the intricate relationship between human behavior, language, and the design choices that shape our digital landscape. In this episode: * Discover the fascinating history behind the like button and its creators. * Learn how small design choices can have massive impacts on human behavior. * Understand the difference between customer experience and customer context. * Explore the evolution of technology and its unintended consequences. * Gain insights into the role of language and metaphor in shaping our digital interactions. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/505 [http://thebrainybusiness.com/505]. Looking to explore applications of behavioral economics further?  Learn With Us on our website [http://thebrainybusiness.com/learn-with-us/]. Subscribe to Melina’s Newsletter Brainy Bites [https://www.linkedin.com/newsletters/brainy-bites-6876237089336307712/].  Let’s connect: Send Us a Message [http://thebrainybusiness.com/contact/] Follow Melina on LinkedIn [http://linkedin.com/in/melinapalmer/] The Brainy Business on Youtube [http://youtube.com/c/thebrainybusiness] The Brainy Business on Instagram [http://instagram.com/thebrainybiz/]

In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of mirror neurons and their profound impact on our behavior, empathy, and learning. Originally aired in January 2019, this refreshed episode explores how these hidden drivers shape our interactions and influence consumer psychology. Melina discusses the discovery of mirror neurons and shares compelling stories, including how a monkey's brain reacted to seeing a researcher eat ice cream, demonstrating our innate ability to learn through observation. She highlights the significance of mirror neurons in human development, from learning skills like tying shoes to experiencing emotions through storytelling and visual cues. As the episode unfolds, you'll gain insights into how mirror neurons can be leveraged in business to enhance customer experiences and foster connections. Melina provides practical examples of how to effectively use video, facial expressions, and storytelling to activate these neurons in your audience, making your brand more relatable and engaging. In this episode: * Understand the role of mirror neurons in empathy and observational learning. * Discover how mirror neurons influence consumer behavior and decision-making. * Learn practical applications for leveraging mirror neurons in your marketing strategy. * Explore the power of storytelling and visual cues to enhance customer engagement. * Reflect on how your actions and expressions impact those around you in both personal and professional settings. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/504 [http://thebrainybusiness.com/504]. Looking to explore applications of behavioral economics further?  Learn With Us on our website [http://thebrainybusiness.com/learn-with-us/]. Subscribe to Melina’s Newsletter Brainy Bites [https://www.linkedin.com/newsletters/brainy-bites-6876237089336307712/].  Let’s connect: Send Us a Message [http://thebrainybusiness.com/contact/] Follow Melina on LinkedIn [http://linkedin.com/in/melinapalmer/] The Brainy Business on Youtube [http://youtube.com/c/thebrainybusiness] The Brainy Business on Instagram [http://instagram.com/thebrainybiz/]

In this episode of The Brainy Business podcast, Melina Palmer welcomes back Jason Voiovich, author of the intriguing book, Bullfrogs Bingo and the Little House on the Prairie. Together, they explore the innovative spirit of the Great Depression, a time often associated with scarcity, yet brimming with unexpected creativity and invention. Jason shares fascinating stories from his book, highlighting how necessity drove innovation during tough economic times. From the invention of Scotch tape to the rise of flour sack dresses, he illustrates how companies adapted to meet consumer needs in unique ways. Melina and Jason discuss the importance of understanding customer psychology and the ecosystem surrounding innovations, emphasizing that successful products often emerge from a deep understanding of the market and its challenges. In this episode: * Discover how the Great Depression spurred innovation rather than stifling it. * Learn about the cultural shift that led to pets becoming cherished family members and the rise of dedicated pet products. * Explore the concept of iterative innovation and how companies can adapt to meet changing consumer needs. * Understand the significance of curiosity in the innovation process and how it can lead to unexpected opportunities. * Gain insights into how historical lessons can inform modern marketing strategies and product development. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/503 [http://thebrainybusiness.com/503]. Looking to explore applications of behavioral economics further? Learn With Us on our website [http://thebrainybusiness.com/learn-with-us/]. Subscribe to Melina’s Newsletter Brainy Bites [https://www.linkedin.com/newsletters/brainy-bites-6876237089336307712/]. Let’s connect: * Send Us a Message [http://thebrainybusiness.com/contact/] * Follow Melina on LinkedIn [http://linkedin.com/in/melinapalmer/] * The Brainy Business on Youtube [http://youtube.com/c/thebrainybusiness] * The Brainy Business on Instagram [http://instagram.com/thebrainybiz/]

In this episode of The Brainy Business podcast, Melina Palmer welcomes Greta Harper from Maker's Mark for a conversation about the brand's innovative approach during the pandemic. Recorded live at the GreenBook's IIEX North America conference, this episode revisits the impactful strategies Maker's Mark implemented to support bars, restaurants, and hospitality workers when they needed it most. Greta shares her journey from the service industry to her role at Maker's Mark, highlighting the brand's commitment to long-term thinking and sustainability. As they discuss how the company adapted to the challenges of the pandemic, they explore the importance of empathy, reciprocity, and building lasting relationships within the community. From creating virtual cocktail classes to providing meals for struggling hospitality workers, Maker's Mark's initiatives exemplify a deep intention behind their actions, demonstrating that doing the right thing pays dividends over time. In this episode: * Learn how Maker's Mark supported the hospitality industry during the pandemic. * Discover the significance of long-term thinking and sustainability in business. * Explore the concept of empathy in brand relationships and customer loyalty. * Understand the role of reciprocity in building trust and community support. * Gain insights into how Maker's Mark's initiatives led to double and triple-digit growth post-pandemic. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/502 [http://thebrainybusiness.com/502]. Looking to explore applications of behavioral economics further?  Learn With Us on our website [http://thebrainybusiness.com/learn-with-us/]. Subscribe to Melina’s Newsletter Brainy Bites [https://www.linkedin.com/newsletters/brainy-bites-6876237089336307712/].  Let’s connect: Send Us a Message [http://thebrainybusiness.com/contact/] Follow Melina on LinkedIn [http://linkedin.com/in/melinapalmer/] The Brainy Business on Youtube [http://youtube.com/c/thebrainybusiness] The Brainy Business on Instagram [http://instagram.com/thebrainybiz/]

In this episode of The Brainy Business podcast, Melina Palmer dives into the fascinating world of unboxing videos and the brain science that makes them so captivating. Have you ever wondered why millions of people are drawn to watching others unwrap everything from toys to tech? It turns out, it’s not just a quirky trend; it’s rooted in behavioral science. This refreshed episode, originally aired in 2021, explores the psychological mechanisms at play during unboxing experiences. Melina discusses how mirror neurons, dopamine, anticipation, and sensory engagement create an enthralling experience for viewers. You’ll discover why watching someone open a box can evoke feelings of excitement and satisfaction, even if you’ll never own the item yourself. Throughout the episode, Melina outlines four key components that make unboxing videos effective, offering insights into how you can apply these principles in your own content or business strategies. From understanding dopamine's role in anticipation to the importance of priming and engaging all five senses, this episode is packed with actionable takeaways. In this episode: * Learn about the role of mirror neurons in empathy and observational learning. * Discover how dopamine and anticipation enhance the viewing experience. * Understand the concept of priming and how to build excitement before a reveal. * Explore the significance of incorporating all five senses into your unboxing videos. * Gain practical tips for creating engaging unboxing content that resonates with viewers. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/501 [http://thebrainybusiness.com/501]. Looking to explore applications of behavioral economics further?  Learn With Us on our website [http://thebrainybusiness.com/learn-with-us/]. Subscribe to Melina’s Newsletter Brainy Bites [https://www.linkedin.com/newsletters/brainy-bites-6876237089336307712/].  Let’s connect: Send Us a Message [http://thebrainybusiness.com/contact/] Follow Melina on LinkedIn [http://linkedin.com/in/melinapalmer/] The Brainy Business on Youtube [http://youtube.com/c/thebrainybusiness] The Brainy Business on Instagram [http://instagram.com/thebrainybiz/]