Have you ever noticed how consumers are more willing to take risks in order to avoid losing something? Or how people value items they own, which they have an emotional attachment to, far more than similar items owned by somebody else. These and many other seemingly irrational phenomena can be explained partly, through Behavioral Economics.
On this episode, we’ll be discussing this relatively new field of economics, which is helping marketers improve their customer experience.
This week, we are joined by Phil Slade, who is the managing partner of Decida, but what’s really interesting for us is that Phil is a Behavioral Economist, which means in my layman’s interpretation, he is a specialist at why we do the things that we do as customers, and then potentially how all of us as founders, and maybe part-time marketers can use that to our advantage, not for evil, but for good.