Episode description
Tune in to hear:
- What are some of the psychology principles that Costco gets right as a brand?
- Is it better to make customer onboarding super fluid and effortless or to make it a bit more arduous and engage with the "sunk cost fallacy?"
- What is the “pratfall effect” and how was it used with great effect by brands like Apple, KFC and Domino’s?
- What is the “cocktail party effect” and how can we use it to our advantage?
- What does Nike do particularly well and how do they induce a sense of artificial scarcity?
- How can your average person in a consulting or advice type role leverage this concept of scarcity?
- Who distilled Cialdini’s 7 Principles of Persuasion down to just 3 and how are these best applied in practice?
Compliance Code: 0963-OAS-4/5/2023