Build A Better Agency Podcast

Everybody has a story they’re trying to tell, and brands play a massive role in people’s stories, whether they realize it or not. Most of the time, the stories consumers associate with a brand aren’t what we think they are. This is where behavioral economics becomes vital to creating an effective marketing strategy.   Behavioral economics is a study that attempts to make sense of people’s behavior around spending. We don’t always make spending decisions in our best interest and often base purchasing decisions on our emotions. In fact, people usually connect and interact with brands the same way they connect with people. This leaves brands with a lot of pressure on their backs. If you ignore your loyal customers’ needs and wants, they will feel deeply betrayed. But if you listen to their stories and get to the core of what they’re looking for, you’ll build a trust that feels like a close friendship. The psychology behind consumer behavior is complicated but fascinating. Join us this week to discover how brand