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Where use of behavioural economics goes wrong

 

There are three stages of using behavioural economics. In this video behavioural expert Bri Williams explains the one thing successful businesses do differently, how to move through each stage, and what to do at the critical juncture where you'll either succeed or fail.


We talk about different stages of grief and different stages of learning. Well in my experience, there are different stages of behavioural economics, too.

By the end of this video you’ll know the one thing...

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Five pitfalls of behavioural economics

 

There is plenty of upside in applying behavioural science, but there are five pitfalls that you should know about too. 

In this video I’m going to take you through the 5 pitfalls of behavioural economics, and how to avoid them.

Pitfall #1. Thinking it only applies to customers

Behavioural economics is the study of how emotional, social and cognitive biases and heuristics impact behaviour. 

Behaviour is the operative word here, because the same forces that impact your...

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Why asking customers can lead you astray

 
 
If I had to boil down the biggest problem businesses have, it would be this.

Listening to people.

I totally get it.

It's compelling when a customer tells you what would make them buy your product, a staff member tells you what would make them happier and more productive, or a stakeholder tells you what would make they sign off on your idea.

Straight from the horse's mouth, so to speak.

We rush to send out employee engagement surveys and customer questionnaires. We run polls and focus...
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Fraud and failure. It's been a rough couple of weeks.

The field of behavioural economics has been knocked around a couple of times over the past week or so..

Perhaps most significantly, news broke of a research study on fraud being found to have used fraudulent data. Yes, painfully ironic.

The 2012 study by Shu, Mazar, Gino, Ariely and Bazerman found getting people to sign their name at the top of a form rather than the end increased the likelihood they’d complete the form honestly.

Such an interesting finding doesn’t stay quiet for...

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Nudgestock Global 2020

 

I was excited to present at the world's biggest and best festival of behavioural science, created by Ogilvy.

It kicked off in Sydney and travelled around the globe, finishing in New York 14 hours later.

Here's my 'tight ten' in which I explain my behaviour change model.

 

What now?

  • Read a quick overview of my Behaviour Change Model here.
  • Clarify your very own behavioural challenge with my free Behavioural Analysis tool.
  • Get behavioural tips and ideas by subscribing...
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Living in a snow globe that has been violently shaken

It’s difficult to know what to write today.

It feels like we’re living in a snow globe that has been violently shaken. While things will eventually settle, we are in the midst of being rattled to our core by COVID-19.

So, this is a collection of things I’ve been reflecting on. 

We’re all connected

As a global pandemic, we’re all in it. We can’t look away and pretend it’s someone else’s issue. It became tangibly personal as soon as our...

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The Knife Through Butter approach to behavioural influence

 

Let's be clear. To influence some else's behaviour means you are going to have to put some effort in. 

The smart approach is to be as effort-less as possible, and that means getting clear on your behavioural objective and anticipating the likely resistance you will encounter.

That's what I explain in this 5 minute video using, what else? Butter.

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