Behavioural economics:      Inviting marketers to experimentCopyright © 2012 PrimeDecision
Understanding of behavioural economics
Understanding of behavioural economics     So far, the focus has been on general     principles, not on how to start apply...
What do marketers really need to know?  Behavioural economics   thrives         in a   measurement-focused,         exper...
Applying behavioural economics =  Using scientific insights to inform   tactics and strategies which improve   marketing’...
Applying behavioural economics =  Methodically testing hypotheses   through an experimental, evidence-   based approach.
Why it’s valuable: While marketers typically focus on   winning hearts and minds,         behaviour-led approaches examine...
Why it’s valuable: Looking more   holistically at how people    make decisions in a                specific context       ...
Where to apply it:  Optimisation                      Innovation Finding small tweaks which         Re-examining your br...
What next? Go deeper. Read our guide: prime-decision.com/marketing/
PrimeDecision is an independent strategy company specialising in behavioural economics.   Don’t be shy to connect.    prim...
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Behavioural Economics: Inviting Marketers to Experiment

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This short deck clarifies the role of behavioural economics in marketing. It defines behavioral economics as a process of experimentation, informed by scientific and psychological insights.
When used methodically, it can help us to optimise every touchpoint of the buyer journey.

Published in: Business
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Behavioural Economics: Inviting Marketers to Experiment

  1. 1. Behavioural economics: Inviting marketers to experimentCopyright © 2012 PrimeDecision
  2. 2. Understanding of behavioural economics
  3. 3. Understanding of behavioural economics So far, the focus has been on general principles, not on how to start applying behavioural economics to marketing.
  4. 4. What do marketers really need to know?  Behavioural economics thrives in a measurement-focused, experimental marketing environment.
  5. 5. Applying behavioural economics =  Using scientific insights to inform tactics and strategies which improve marketing’s performance.
  6. 6. Applying behavioural economics =  Methodically testing hypotheses through an experimental, evidence- based approach.
  7. 7. Why it’s valuable: While marketers typically focus on winning hearts and minds, behaviour-led approaches examine the unnoticed, automatic mental responses which influence action.
  8. 8. Why it’s valuable: Looking more holistically at how people make decisions in a specific context finds opportunities for enhancement that might otherwise be missed.
  9. 9. Where to apply it:  Optimisation  Innovation Finding small tweaks which Re-examining your brand’s make people more likely to interactions with people to engage, act or buy. find smarter solutions.  An iterative approach ideal  Blue-sky thinking about your for repeated comms, sign- product, service or ups, apps, sites, purchase marketing, grounded in a processes etc. contextual analysis of behaviour.
  10. 10. What next? Go deeper. Read our guide: prime-decision.com/marketing/
  11. 11. PrimeDecision is an independent strategy company specialising in behavioural economics. Don’t be shy to connect. prime-decision.com hello@prime-decision.com @PrimeDecision 0117 910 5200
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