Feel free to ignore this podcast episode - Richard Shotton
Uncensored CMO29 Mar 2023

Feel free to ignore this podcast episode - Richard Shotton

A return for podcast guest number 1, Richard Shotton, following the launch of his brand new book "The Illusion of Choice: 16½ psychological biases that influence what we buy".

"Every day, people make hundreds of choices.

Many of these are commercial: What shampoo to pick? How much to spend on a bottle of wine? Whether to renew a subscription?

These choices might appear to be freely made, but psychologists have shown that subtle changes in the way products are positioned, promoted and marketed can radically alter how customers behave.

The Illusion of Choice identifies the 16½ most important psychological biases that everyone in business needs to be aware of today – and shows how any business can take advantage of these to win customers, retain customers and sell more.

Richard Shotton, author of the acclaimed The Choice Factory, draws on academic research, previous ad campaigns and his own original field studies to create a fascinating and highly practical guide that focuses on the point where marketing meets the mind of the customer.

You’ll learn to take advantage of the peak end rule, the power of precision, the wisdom of wit – and much, much more."

What we covered in this episode:

  • Why the podcast 4.9 star rating is the best one
  • The meanest tweet Uncensored CMO ever had
  • Social proof gives you wings
  • Why the new book has 16 ½ chapters
  • Feel free to ignore this chapter in the book
  • Why biases affect professionals as well as consumers
  • The Russian tank effect and how AI can be misled
  • How AI design a better pair of Nike Trainers
  • Recency, primacy and the peak end rule
  • How behavioural science supports the laws of marketing
  • Jon ranks the biases
  • The Zuckerberg t-shirt principle (red sneaker effect)
  • Why breaking convention is associated with higher status
  • Always use concrete phrases not fluffy marketing nonsense
  • The more visual the phrase the easier to remember
  • Relatable stories beat cold hard statistics
  • Telling one persons story well is better than trying to represent a group
  • How well can experts predict a successful Super Bowl Ad
  • Experts are trained to see novelty rather than broad appeal
  • We are all rewarded based on sophistication and complexity rather than simplicity
  • How thicker paper led to more charity donations
  • Why marketer can’t predict how well their own advertising will do
  • Professional forecasters are no better at predicting than the average person
  • Why freedom of choice leads to much greater perceived value
  • Why we would rather suffer a loss if we now someone else has done better
  • Adverts aren’t trying to be funny anymore even though the funny ones work
  • Why making a joke would increase your tips
  • Making it easy is the best way to make someone do something
  • We radically underestimate the impact of removing friction
  • Removing friction beats customer benefits every time
  • How to frame your pricing so people buy your preferred product
  • What colonoscopies can tell us about the peak end rule
  • Why ads with a peak end perform better overall

Links

Episoder(218)

Why we buy what we buy - Richard Shotton

Why we buy what we buy - Richard Shotton

Richard is author of the No.1 Marketing Book The Choice Factory which was the winner of BBH’s World Cup of Advertising books in 2018 beating some industry heavy-weights. Richard has 20 years of experience in Advertising planning, market research and behavioural science and last year made the big leap to set up a consultancy following the success of his book.In this episodeHow he ended up writing the best-selling marketing book of 2019Why behavioural science should matter to every marketerWhy rhyming phrases are not just more memorably but also more believable tooHow the decline in CMO & agency tenure is impacting on long term effectivenessHow our own experience impacts on our perceptions (the false consensus effect)The impact of social proof on sales and how to use itWhy you’ll spend less on a night out when paying cashHow making something easy is a huge competitive advantageWhy branded glasses make beer taste better and worth moreWhy a 4.5* review beats a 5* review (the pratfall effect)How many of the best ideas happened by accident but were Follow me:Twitter | @uncensoredCMOLinkedInGet in touch:Website | www.uncensoredcmo.comEmail | jon@uncensoredcmo.comFollow Richard:Twitter | @rshottonThe Choice Factory

16 Des 201950min

Uncensored CMO launches on 16th December

Uncensored CMO launches on 16th December

When I say CMO what do you think of? I know, for me, I think boardroom politics. I think carefully managed messages. I think slick presentations. But what I don't get is, I don't get an honest answer. I don't get to know what they really think. I don't get to know how have they got where they are today, and what has shaped and influenced their career. And that got me thinking, wouldn't it be great if we had a podcast that asked some of the tough questions that get to the heart of what's going on. One that takes you behind the scenes to see how it really works. That's where the idea of Uncensored CMO came from.I want to connect you to the best marketers on the planet. The people that have founded and run ad agencies, the people that do the most amazing research and the people that influence people through PR. I want to get to those people and find out how it actually works. Tell me the things that have gone well. Tell me the things that have failed. Let me give you a little flavour to season one. I'm gonna be meeting people like Adam Morgan who founded the whole idea of challenger brands. I asked him, "How do you make a great challenger brand?"The whole world of influencers, to me, was quite mysterious, but I went and met Arron Shepherd, he co-founded The Goat Agency, and I asked him about what a successful influencer campaign looks like.Or, someone like Ian Millner, global CEO and founder of Iris. What's it like running a big ad agency? How do you get great work and how do you measure great advertising? What does a modern brand today have to do to stand out and be successful?These are just some of the conversations I've been having, and there are loads more to come.So I really hope you'll listen and subscribe to The Uncensored CMO. I'm gonna be launching this podcast on 16th December so set a notification, remind yourself to subscribe.You can also follow me on Twitter, @UncensoredCMO. I look forward to having a great conversation with you.

5 Nov 20192min

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