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Modern Wisdom

#091 - Richard Shotton - Some Very Important Effects In Advertising

Modern Wisdom

Chris Williamson

Society & Culture, Health & Fitness

4.74.6K Ratings

🗓️ 5 August 2019

⏱️ 71 minutes

🧾️ Download transcript

Summary

Richard Shotton is a behavioural scientist, the Founder of Astroten and an author.

What is the reason that restaurants don't put £ signs in front of their prices? Why do marketing campaigns with huge flaws end up winning the market over? How does increasing wait times on comparison sites improve customer buy-in? And why do budget airlines reduce quality of experience to improve trust?

We're talking all things behavioural science today. One of my favourite topic areas with a fascinating guest, this episode is absolute gold and packed with great concepts and hilarious real world examples. Do not sleep on this one.

Extra Stuff:

Follow Richard on Twitter - https://twitter.com/rshotton

Buy Richard's Book - https://amzn.to/2YCQfdt

Buy Richard's Online Course - https://www.42courses.com/courses/behavioural-science-for-brands

Listen to Rory Sutherland on Modern Wisdom - https://podcasts.apple.com/gb/podcast/049-rory-sutherland-psychology-in-the-world-of-advertising/id1347973549?i=1000428600578

Check out everything I recommend from books to products and help support the podcast at no extra cost to you by shopping through this link - https://www.amazon.co.uk/shop/modernwisdom

-

Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me...

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Email: https://www.chriswillx.com/contact

Transcript

Click on a timestamp to play from that location

0:00.0

Hello people of podcast land. Welcome back to modern wisdom. I guess today is Richard

0:05.1

Shotten. He's a behavioral science expert and the founder of Astro 10.

0:10.8

Behavioral science is one of those really interesting...

0:14.4

That's the end of my Pomodoro. I'm going to keep going. Thank you. Be focusprop.

0:20.4

Behavioral science is one of those fascinating areas that I absolutely love to talk about.

0:24.9

All of us are completely at the mercy of our own biases on a daily basis. So, learning

0:29.4

about them, even if you can't stop them from happening, is just a hilarious insight

0:34.8

into the way that our minds work. So, today, expect to learn.

0:39.9

What is the reason that restaurants don't put pound signs in front of their prices? Why

0:43.8

do marketing campaigns with huge floors end up winning the market over? How does increasing

0:49.0

wait times on comparison sites actually improve customer buy-in? And why do budget airlines

0:54.2

reduce quality of experience to improve trust? Also, you're going to get to find out

0:59.8

what the word nine-enders means in a marketing sense. That's a real term, nine-enders.

1:09.6

This episode is fantastic. I absolutely loved it. Richard, you're a legend and a gentleman.

1:14.6

Thank you so much for coming on. Rory Sutherland's Psychology in the World of Advertising, episode

1:19.9

49 is a perfect complement to this, if you enjoy it. But for now, please welcome the

1:25.7

wise and wonderful Mr. Richard Shotten.

1:44.3

I am joined by Richard Shotten, founder of Astro10 and author of The Choice Factory.

1:49.1

Richard, welcome to the show. Hi, good to meet you, Chris. Fantastic to have you on.

1:54.0

Just before we started, you told me that Astro10, your company, is actually the wrong name

1:59.2

for itself. Can you explain what's happened there? It is the wrong name. So, I set it up

2:07.3

last August and I was on a holiday and it was getting to the stage where I just needed

...

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