🔨 The IKEA effect is a cognitive bias that implies that individuals place a disproportionately high value on items that they have played a part in creating.
In this episode, we explore how to champion the IKEA Effect to elevate engagement on your team through open communication, involving the team in the process, recognizing extra effort, team building activities, exercising empathy and investing in your team members.
Behavioral Economics in Marketing Podcast | Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision-making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Sandra Thomas-Comenole | Host | Marketing professional with over 10 years of experience leading marketing and sales teams and a rigorously quantitative Master’s degree in economics from Rensselaer Polytechnic Institute. Check out her Linkedin profile here: Sandra Thomas-Comenole, Head of Marketing, Travel & Tourism
And a special shout out to this episode's paid sponsor Budgetbakers.com and their personal finance manager, Wallet. Wallet is your personal finance planner that helps you to save money, plan your budget and track your spending. Essentially, you become your own finance manager. It connects with over 58,000 banks worldwide and handles any currency using the same level of security as your own bank. And best of all they do not sell customer data to anyone. The app is available on Android from the Google Playstore and on iOS from the Apple App Store just search from Wallet by BudgetBakers or visit BudgetBakers.com for more information. Listeners of the Behavioral Economics in Marketing podcast get a special deal when they visit http://budgetbakers.com/behavior
