Melina Palmer: Using Behavioral Economics to Help Businesses

Melina Palmer is the host of The Brainy Business podcast and she has dedicated her career to seeking answers to these questions for herself and her clients. Melina uses behavioral economics to help everyone from global corporations to entrepreneurs understand the psychology of why people buy, unlocking the secrets of small changes that make a big difference via her podcast, public speaking, and column on Inc.com. The result is messaging, branding, advertisements, pricing and products that are more “brain-friendly” (meaning more leads, conversions, and revenue).

Our conversation with Melina covered the anchoring effect and what a powerful tool it can be for both sellers and buyers alike. We also chatted about her John Mayer playlist on Pandora and some of the things she’s doing to make the world a better place through the education of behavioral economics and neuroscience.

Kurt and Tim are also announcing our newest podcast, Weekly Grooves, which will be launching shortly, and we hope you’ll check it out.

Groove idea for the week: What are you doing to integrate the anchoring effect into your business or your personal life?

© 2020 Behavioral Grooves

Brainy Business Website: https://www.thebrainybusiness.com

Melina’s INC.com articles: https://www.inc.com/author/melina-palmer

Melina’s Facebook: https://www.facebook.com/thebrainybiz/

Melina’s Instagram: https://www.instagram.com/thebrainybiz/

Melina’s YouTube: https://www.youtube.com/c/thebrainybusiness

Melina’s Twitter: https://twitter.com/thebrainybiz

Melina’s LinkedIn: https://www.linkedin.com/in/melina-palmer-36ab8712/

Melina’s John Mayer Playlist: https://pandora.app.link/UrWQ28B6l3

Anchoring Effect: https://en.wikipedia.org/wiki/Anchoring

Decoy Effect: https://en.wikipedia.org/wiki/Decoy_effect

Ran Kivetz, PhD: https://www8.gsb.columbia.edu/cbs-directory/detail/rk566

Katy Milkman’s Fresh Start Habit: https://magazine.wharton.upenn.edu/digital/katherine-milkmans-fresh-start-study-becomes-perennial-media-favorite/

Counterfactual Thinking: https://en.wikipedia.org/wiki/Counterfactual_thinking

Seattle Mariners: https://en.wikipedia.org/wiki/Seattle_Mariners

Audacity (digital audio workstation): https://www.audacityteam.org/

George Loewenstein, PhD: https://www.cmu.edu/dietrich/sds/people/faculty/george-loewenstein.html

Gene Autry “Back in the Saddle”: https://www.youtube.com/watch?v=rSqcxFGFVas

John Mayer: https://www.johnmayer.com/

Michael Bublé: https://www.michaelbuble.com/

Lady Antebellum: https://www.ladyantebellum.com/

Miranda Lambert: https://www.mirandalambert.com/

Patsy Cline: https://en.wikipedia.org/wiki/Patsy_Cline

Christina Perri: https://en.wikipedia.org/wiki/Christina_Perri

US National Anthem: https://en.wikipedia.org/wiki/The_Star-Spangled_Banner

Tom Petty: https://en.wikipedia.org/wiki/Tom_Petty

Damien Rice: https://damienrice.com/

Red Hot Chili Peppers: https://redhotchilipeppers.com/

Ella Fitzgerald “Mac the Knife: Ella in Berlin 1960”: https://www.youtube.com/watch?v=iR1__k-BxhY

Steely Dan “Gaucho”: https://en.wikipedia.org/wiki/Gaucho_(album)

Beatles “Abbey Road”: https://en.wikipedia.org/wiki/Abbey_Road

Beatles “Sargent Pepper”: https://en.wikipedia.org/wiki/Sgt._Pepper%27s_Lonely_Hearts_Club_Band

Iron & Wine: http://ironandwine.com/

Dessa: https://www.dessawander.com/