Behavioral Science Marketing

This audiobook explains why people buy - and how to use that knowledge to improve pricing, increase sales, and create better, "brain-friendly" brand messaging. Become a more effective leader with the practical tools in this book.

Spread through the public in the form of popular stories, ideas can go viral and move markets - whether it's the belief that tech stocks can only go up or that housing prices never fall. Whether true or false, stories like these - transmitted by word of mouth, by the news media, and increasingly by social media - drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that.

For centuries, economics was dominated by the idea that we are rational individuals who optimize our own “utility”. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don’t really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational, we are prone to “cognitive biases” with complex effects on decision-making, such as forgetting to prepare for retirement.

For generations, salespeople have possessed a well-defined reputation as being outgoing, fearless, and audacious. But for many, the familiar stereotypes mask a darker reality. Far from being unstoppable selling machines, they struggle with a secret fear of prospecting. Whether on the phone, in person, online, or in front of groups, initiating contact with prospective buyers causes discomfort and distress. So, they avoid it. Instead of making calls, they make excuses. It’s a costly trade-off.

Behavior change is hard, but O’Mara shows that by adopting strategies that are well-founded in the science of brain and behavior, individuals and organizations can adapt to the demands of the modern world.

Without customers, we don’t have a business. But what can, or should, we do if one of our customers is cranky? Answer: Learn why people behave how they do and how you can respond so that you can be happier and more effectively help solve your customer’s problems without getting pulled into their drama, whatever that is.