The Behaviour Business Episode 11 - Behavioural Science for Better Marketing

John Wanamaker famously said "Half of all my advertising spend is wasted - the problem is I don't know which half." 75% of all viewable online ads are totally ignored by consumers. How do make sure that the brands we create are noticed, remembered, and (most importantly) bought?

Any business needs to get people to buy it's products and services to generate revenue, and this is the goal of marketing. But a lot of marketing doesn't succeed. Assuming you've created a great product or service, and developed it as a brand - how do you then get people to buy it?

Behavioural science, by giving us a better understanding of how and why people actually buy, has given us ways of delivering more effective marketing, including by informing the growing discipline of marketing science. In this episode you'll hear from leading experts about this, as well as why you shouldn't necessarily lower a product's price to get more sales, and why killing the Milky Bar kid is generally a bad idea.

In this episode you'll hear from:

- Leigh Caldwell, co-founder of The Irrational Agency, on why having the cheapest product is not always good, and why the context of our pricing decisions is critical;
- Nick Mason, founder of Turtl, on the importance of visual information in marketing and why B2B marketing needs to appeal to more emotional (not rational) drivers of behaviour;
- Mike Follett, co-founder and MD of Lumen Research, on why people are very, very good at ignoring marketing, and how to win the battle for attention to deliver marketing success;
- Kate Waters, Director of Client Strategy at ITV, on how to shorten the odds of creating great marketing campaigns, and why the incentives often mean that innovation is prioritised over effectiveness in advertising;
- Sam Tatam, Head of Behavioural Science at Ogilvy Consulting, on how behavioural science adds value to marketing through generating effective counter-intuitive solutions, and by giving a scientific foundation to creativity.

If you want to know how to understand get people to buy - in other words to simply do marketing better - then have a listen.

Buy 'The Behaviour Business' book here: https://amzn.to/37e3Mwc