Behavioural Economics

If you are someone in the world of marketing, or even just kind of interested in it, you have probably come across behavioural economics. You may not know it, but you probably have. It's everywhere. It leaks into almost all aspects of business and marketing.

So, what is behavioural economics? Simply put, behavioural economics is using Psychology to understand why people make the decisions that they make, and the motivation behind them. This, therefore, has great influences on the world of marketing. If you can understand the mind, and how someone decides what to buy, what services to use, what food to eat, then you can tap into that to market more effectively towards your audience.

Some may say that behavioural economics is hacking the brain or manipulating people into buying your products, or things they don't want or need. Some kind of evil. But in reality, behavioural economics isn't that powerful. You are not able to control minds. It just allows you to market to your audiences in a way that they want, and are most likely to respond to. It can be use to help potential customers find your business, or the product that they have been looking for. The mind is a very complex and powerful thing, so why not educate yourself on the mind, and what it can do to boost your business? 

Behavioural economics has lots of methods, some of which I will be exploring throughout this blog. So, keep an eye out for more behavioural economics posts. Maybe you'll learn something that may help your business succeed. Or you may just start to notice some of it's effects in your day to day life.  

Stay tuned, and follow us on social media for more tips and tricks.

-- From Marketing to Mind --