Neuromarketing: How to Influence the Behavior of Your Consumers With Nancy Harhut [The Opportunity Ep.108]

Published: Nov. 8, 2022, 1:05 p.m.

b'Sometimes, consumers need a little nudge to convince them to add your product to their checkout cart.\\xa0 You could try using discounts and promotions to lure consumers in, but these techniques aren\\u2019t always sustainable and can eat into your bottom line. So what strategies can you use instead? Nancy Harhut believes the answer lies in neuromarketing. Nancy is the Co-Founder and CCO of HBT Marketing, an agency that blends creativity with behavioral science to drive consumer engagement. Through many years of research, Nancy has learned that consumer behavior often isn\\u2019t rational. Instead, people are driven by hard-wired, instinctive and emotional responses. By tapping into behavioral science techniques, entrepreneurs can trigger these instinctive responses to boost conversions.\\xa0 In this episode, Nancy joins us to explain the science behind consumer decision-making and walks us through how to use concepts like the authority principle, social proof, and loss aversion to increase purchase intent. According to Nancy,\\xa0 \\u201cBehavioral scientists have found that people are twice as motivated to avoid the pain of loss as they are to achieve the pleasure of gain. So as a marketer, you should inject a little well-placed loss aversion. Instead of saying \\u201cTake advantage of\\u201d, try saying \\u201cDon\\u2019t miss out on\\u201d. That\\u2019s what people really pay attention to because people hate to lose out.\\u201d Don\\u2019t risk missing out on any more sales! Use Nancy\\u2019s expert advice to gain an advantage over your competitors and stand out from the crowd. (See what we did there?) Topics Discussed in This Episode: Nancy\\u2019s entrepreneurial background and the origins of HBT Marketing (03:45) Neuromarketing and behavioral science and how it applies to marketing (08:43) The topics Nancy\\u2019s book covers and how it can help marketers (15:40) How Nancy created a 13% increase in purchase intent for one of her clients (17:41) Top techniques to trigger emotional responses in your customers (20:54) How different demographics respond to neuromarketing techniques (31:17) Common mistakes people make when attempting to use neuromarketing (35:01)\\xa0 Cringy marketing techniques you should avoid (37:47) What inspired Nancy to write her book Using Behavioural Science in Marketing (44:38) Changes and trends that have influenced marketing over the last few years (48:35) Mentions: Empire Flippers Podcast Empire Flippers Marketplace Schedule a call with our expert sales advisors\\xa0 HBT Marketing Using Behavioural Science in Marketing by Nancy Harhut\\xa0 The believing Brain by Michael Shermer Sit back, grab a coffee, and learn how to increase purchase intent through behavioral marketing.'