The Link Between Behavioural Economics, Waking up at 4 AM and Donald Trump
Last month was a milestone in Lab’s evolution, as the team flew out to the USA in order to achieve two outcomes: better understand the American digital landscape and introduce Lab through our brand new and unique event, Limitless.
Although jet lag had us awake at 4am and we shamelessly made a few references to Donald Trump, we somehow managed not to offend anyone and the trip was a great success! It was a real pleasure to run our unique behavioural event in San Francisco, the mecca of phenomenal digital change within our world. The audience, conscious of the importance of understanding the dynamic between human behaviour and technology was more than receptive. We have a theory or two about why that is…
At Lab we like to eat our own dog food - so we employ the same neuromarketing techniques to our own material.
Our new psychology model, developed by Daryll Scott - Human Technology Director at Lab - reveals how we as brands can speed-empathise with consumers. We playfully divide customers into groups centred around their intrinsic motivations rather than underwhelming and often misinforming demographic data - and we named these categories Monkey Lion Dog (click through here to take the personality test)...
In marketing our event, Limitless, we employed exactly the same techniques that we help our clients to use. By creating advertising aimed specifically at each group, either Monkey, Lion or Dog, we cut through the thousands of sales messages that we are all bombarded with each and every day. The very framework that attracted our attendees was given to them in order to use in their own marketing strategies.
This is just one of the techniques in our neuro repertoire - there are many more aces that marketers can have up their sleeves if only they opened themselves up to this emerging field of study. Our list of 10 immediately applicable neuro nudges - inspired by Nobel laureate Richard Thaler - has also been consistently delivering results for both ourselves and our customers. To find out more about nudges such as anchoring or cognitive strain, take a look at our whitepaper here.
Intrigued? We’ll be hosting Limitless in London as well - scheduled for 17th November at One Alfred Place, the event will be tackling a very simple yet thought-provoking question: In this algorithmic, digital landscape are we losing the ability to deeply empathise with the most complex system of all, the human psyche? Neuromarketing and behavioural economics are popular emerging fields of study for businesses and brands, so why are so few people using them? To join us & unlock your marketing superpowers, follow the link.