Behavioral Economics: A Marketer's Best Friend
It’s not always clear what drives human behavior, particularly when it comes to health and lifestyle choices. We know smoking is bad for our health, yet many of us do it anyway. We know staying up all night binge-watching a favorite show means we’ll feel exhausted at work the next day, but … hey, what’s one more episode, right?
If people can’t always be counted on to make decisions that are in their own best interest, how do we marketers get them to not only pay attention to our messages but also act on them?
“Behavioral economics — or behavioral psychology — provides a toolkit we can use to predict and design effective ways to intervene to improve health outcomes,” Intouch EVP Boris Kushkuley says in the February 2018 edition of PharmaVoice. “ … Access to nuanced, real-time data allows us to follow and analyze these behaviors to pinpoint opportunities that have the biggest impact.”
To learn more about how behavioral economics works, and how it can help brands reach and influence audiences, read the complete article.