How Brains Buy (Reminders for Financial Services Companies)
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Transcript of How Brains Buy (Reminders for Financial Services Companies)
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HOW BRAINS BUY, © Alan Newman, 17-Jan-2014
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HOW BRAINS BUY, © Alan Newman, 17-Jan-2014
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WHY DO WE DO WHAT WE DO?
Brain Biology: basically un-changed for 150,000 years
Cultural programming
Social programming
Personal programming
Family programming }
OUR FOCUS TODAY
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IMPORTANT MESSAGE
WE THINK
MUCH LESS
THAN WE THINK
WE THINK
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4WHAT INTERESTS BRAINS MOST?
HOW DO BRAINS WORK?
BRAINS & MONEY
SO WHAT ?
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FACE FACTS
173 X 31 = ?
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4WHAT INTERESTS BRAINS MOST?
HOW DO BRAINS WORK?
BRAINS & MONEY
SO WHAT ?
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PATTERN RECOGNITION
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ILLUSIONS
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BRAINS CONNECT WITH BRAINS
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STORIES & NUMBERS
( i ) 88 %
7 %STORY
Negative Positive
30% Effective
90% Effective
Source: Freymuth & Ronan 2004; Paul Craven Goldman Sachs AM 2013
( ii )
TREATMENT
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STORIES & NUMBERS
39 % 88 %
7 % 78 %
TREATMENT
STORYNegative Positive
30% Effective
90% Effective
Source: Freymuth & Ronan 2004; Paul Craven Goldman Sachs AM 2013
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BRAINS AND TIME
One Year ± 4 seasons
One Year Plus or Minus
Dry and Wet seasons
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T
R
U
S
T“A psychological state where a person accepts vulnerability based upon positive expectations of the intentions of another.”
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BRAINS’ DEFAULT IS TO TRUST*
This level of trust is based on COMPETENCE
INTIMACY
Trust based on INSIGHT
Trust is based on EXPERIENCE
This level of trust is based on REPUTATION
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BRAINS LIKE: • Now or Short Term• Being in company• Stories• Pictures• Fun• The Status Quo• Security• Guaranteed• Easy
• Long term• Being on their own• Facts and graphs• Words• Serious• Changing habits• Vulnerability ***• 99%• Hard
RATHER THAN:
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4WHAT INTERESTS BRAINS MOST?
HOW DO BRAINS WORK?
BRAINS & MONEY
SO WHAT ?
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BRAINS AND MONEY
HUMAN BRAIN. CURRENT
VERSION HAS BEEN AROUND
FOR B YEARS
MONEY AS WE BROADLY
UNDERSTAND TODAY HAS
BEEN AROUND FOR M YEARS
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BRAINS DON’T DO ‘MONEY’
Angelis Merkalos
Reward?
Risk?
Time?
Reward? x x
Risk? x x
Time? x x x
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4WHAT INTERESTS BRAINS MOST?
HOW DO BRAINS WORK?
BRAINS & MONEY
SO WHAT ?
![Page 24: How Brains Buy (Reminders for Financial Services Companies)](https://reader033.fdocuments.in/reader033/viewer/2022052905/5587914fd8b42a670b8b45a1/html5/thumbnails/24.jpg)
PERSUASIVE TECHNOLOGY
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My daddy says I’ve
changed the way he
thinks. Less focus on
boys’ toys and more stuff
that helps the family.
If your kids have chosen their parents well,
press here:
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AIDA
ttentionnterestecisionction
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HOW BRAINS BUY, © Alan Newman, 17-Jan-2014
That’s all folks!
Thank you.