Successful innovation requires far more than a market gap, a visionary, funding, and new technology. Innovation is a behavioral process from start to finish. It relies on the decision-making processes and behaviors of both producers and consumers, as well as the surrounding support system. Behavioral science, the science of how we make decisions, has invaluable practical insights for innovation on all fronts.
Many behavioral interventions offer win-wins to firms, governments, and other stakeholders. However, research has shown that experts do a poor job predicting the effectiveness of behavioral interventions. This article aims to help calibrate forecasts of an intervention's effectiveness. I outline six steps to help assess whether a published effect is likely to be useful in practice.
Targeting the right customers with the right message is one of the most established strategic goals in marketing. However, traditional approaches to targeting can often end up being ineffective and sometimes even harmful to brands. In this article, we discuss a framework for social media targeting based on insights from behavioral biology.
More and more people struggle with debt, and while people differ in their motivations, preferences, and their reasons not to pay, debt collection practices rarely take these factors into account. Using psychological insights, debt collection can be made more debtor-friendly and effective. The results: increased repayments for companies and a lower financial burden for consumers.
We’re generally poor at predicting how events will impact future states of happiness. And yet, if we’re going to make good decisions in the present, we need to empathize with our future selves at some level. How can we reconcile this? The answer may lie with art, visualization, and social cognition.
Market segmentation is a valuable strategic tool in marketing. How to properly do segmentation is, however, not widely known. In this article, I lay out the principles of segmentation and provide a step-by-step guide.
Trust in government and election confidence rates have continued to decline in the US. Research indicates that employing operational transparency could be a potential solution. Using these insights, we tested how transparency prompts impact trust in the mail-in voting election process. Higher-level transparency regarding the mail-in voting process was most effective and can be easily scaled by election administration to build trust in these processes.
Technology has become a relevant asset for scientists supporting people in modifying their behavior. For instance, we find various apps on the market trying to achieve this. Some inspire their designs in psychological theories, but most do not. Creating theory-based app designs provides a guide on which people's behavioral outcomes to expect in response to a particular stimulus, leading to more robust design and effective apps. How to begin designing theory-informed apps? Continue reading to find out!
When it comes to nudging, it’s very much a case of ‘different strokes for different folks'. A free donut might entice some people to take a vaccine; for others, it might make them even more skeptical. Fortunately, a combination of digital footprints and ‘thin slicing’ psychology means that nudges can now be targeted to the right people in the right way.
The research literature on nudge effectiveness is growing. 2022 started with a new PNAS article reporting a meta analysis of 455 effect sizes from 214 publications. Here's a short summary.
