Episode
#592 - Richard Shotton - 8 Fascinating Psychological Biases
1:41:56
Published: Mon Feb 20 2023
Description
Richard Shotton is a behavioural scientist, Founder of Astroten and an author. This might not be news to you, but the human brain isn't designed to be rational. There are cheat codes to get the brain to believe strange things, do strange things and change in ways you might not anticipate. Richard has one of the best insights into this world of mental models, psychology, consumer behaviour, principles for advertising and social change. Expect to learn the marketing secret about behaviour change that everyone forgets about, how to make habit formation absolutely seamless, why IKEA is so successful even though they don't make your furniture, a hack that any advertising campaign can use to make it stick in people's minds, how to fix the problem of choice paralysis and much more... Sponsors: Get 10% discount on all Gymshark’s products at https://bit.ly/sharkwisdom (use code: MW10) Get 7 days free access and 25% discount from Blinkist at https://blinkist.com/modernwisdom (use code MODERNWISDOM) Extra Stuff: Buy The Illusion Of Choice - https://amzn.to/3XDakP7 Follow Richard on Twitter - https://twitter.com/rshotton Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/ To support me on Patreon (thank you): https://www.patreon.com/modernwisdom - Get in touch. Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/modernwisdompodcast Email: https://chriswillx.com/contact/
Chapters
Richard Shotton discusses behavioral science, marketing, and effective behavior change on the podcast.
00:00 - 06:52 (06:52)
Summary
Richard Shotton discusses behavioral science, marketing, and effective behavior change on the podcast. He shares insights on how to make habit formation seamless, fix the problem of choice paralysis and make advertising campaigns stick in people's minds.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
Behavioral scientists use data to identify predictable moments of habit change, such as at the beginning of the year, month, week, and after holidays or birthdays.
06:52 - 23:37 (16:45)
Summary
Behavioral scientists use data to identify predictable moments of habit change, such as at the beginning of the year, month, week, and after holidays or birthdays. To break existing habits, they recommend offering an uncertain and variable reward, rather than a fixed one, to generate habitual behavior.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
Removing even the smallest friction can have a significant impact on behavior change.
23:37 - 1:02:05 (38:27)
Summary
Removing even the smallest friction can have a significant impact on behavior change. It is essential to identify and eliminate barriers to encourage people to act in a certain way.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
The use of specific words in video titles and thumbnails can drive up click-through rates and watch time for YouTube creators.
1:02:04 - 1:06:40 (04:35)
Summary
The use of specific words in video titles and thumbnails can drive up click-through rates and watch time for YouTube creators. There is a big opportunity for agencies to apply behavioral science and optimize for larger creators like MrBeast and PewDiePie who are already doing this.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
Houston Airport uses psychology to improve passenger experience by providing them with a zigzag path to the baggage carousel, which increases the likelihood that people will remember rhyming phrases and reduces complaints.
1:06:40 - 1:15:22 (08:41)
Summary
Houston Airport uses psychology to improve passenger experience by providing them with a zigzag path to the baggage carousel, which increases the likelihood that people will remember rhyming phrases and reduces complaints.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
The speaker suggests the need for additional options on Google Maps, particularly for driving routes, that go beyond just determining the shortest path, but consider factors such as reducing standstill traffic or taking a longer route that is less stressful.
1:15:22 - 1:21:08 (05:45)
Summary
The speaker suggests the need for additional options on Google Maps, particularly for driving routes, that go beyond just determining the shortest path, but consider factors such as reducing standstill traffic or taking a longer route that is less stressful. It is important for abstract benefits to be translated into concrete language for users to better understand and appreciate these features.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
In this podcast episode, the host discusses the importance of storytelling in podcasting and how it can make the listener invested in the concept.
1:21:08 - 1:29:20 (08:12)
Summary
In this podcast episode, the host discusses the importance of storytelling in podcasting and how it can make the listener invested in the concept. He talks about a recent study that shows precise numbers are believed to be 10% more accurate than round numbers.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
The prefrontal cortex is switched off through drinking alcohol, which can inhibit a person's ability to deceive, but also causing unpredictable thoughts and behavior.
1:29:20 - 1:34:03 (04:42)
Summary
The prefrontal cortex is switched off through drinking alcohol, which can inhibit a person's ability to deceive, but also causing unpredictable thoughts and behavior. This explains why drinking has been such an effective cultural technology for social gatherings.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
Precise pricing can lead consumers to believe a product is priced based on research, while rounded pricing can deter consumers from making a purchase.
1:34:03 - 1:38:32 (04:29)
Summary
Precise pricing can lead consumers to believe a product is priced based on research, while rounded pricing can deter consumers from making a purchase. A study by the University of Florida shows that precise pricing leads to smaller mental calculations and increased purchase likelihood.
Episode#592 - Richard Shotton - 8 Fascinating Psychological Biases
PodcastModern Wisdom
Andrew Huberman discusses the likelihood of genuine 5-star product reviews versus paid or manipulated reviews.
1:38:32 - 1:42:19 (03:46)
Summary
Andrew Huberman discusses the likelihood of genuine 5-star product reviews versus paid or manipulated reviews.