Consumers Are Weird: How Irrational Behavior Impacts Your Credit Union
Your brain (and the brain of your member) does not act logically or make rational decisions. It is guided by rules of thumb that have developed over time…often without your conscious knowledge. Unfortunately, when professionals build strategies, brands, or product pricing, they are almost always based on logic. Sure, campaigns can be successful, and sometimes we luck out and pick strategies that align with those rules of thumb in the brain.
But what if you knew how the brain made decisions? What if you understood how changing one sentence (or even one word in many cases) could drastically impact the return on your messaging? What if you could tap into those hidden choices in the subconscious mind of your member to know what they will actually do (not just what they say they will do)? In this session, Melina Palmer of Defying Gravity will use concepts of behavioral economics (including loss aversion, anchoring & adjustment, and relativity) to unlock the answers…and give you the key so you can see your marketing pieces in a whole new light.
Date: Tuesday, May 15, 2018
Time: 11:00 am – 12:00 pm PST (2:00 pm – 3:00 pm EST)
Cost: FREE for MAC members $29 for non-members
Founder Defying Gravity.