2. Challenge Restaurant A Restaurant B Which restaurant charges
more for the same bowl of ice cream? 3. What Is Behavioral
Economics? Combine social, cognitive and emotional factors with
economics to solve the simple questions: Why Do We Act
Irrationally? How Can Business Make This An Advantage? 4. Or, Put
Another Way 5. Dont Believe Me? >$60,000 ~$25,000 This isnt a
budget-friendly decision, but its one someone makes every day.
WHY??? 6. Value Is More Than A Dollar Sign Homo Economicus,
according to classic economic theory, makes rational decisions BUT
Rationality Encompasses Factors Beyond Cost: Prestige Immediacy
Philanthropy (seriously!) Emotional Attachment 7. An Example:
Relative Value (Emotional Attachment) For Sale on Craigslist:
Wanted on Craigslist: We Honestly Believe The Things We Own Are
Worth More Than The Things We Want To Buy 8. How Can We Use This To
Our Advantage? A Trial Version Will Convert Better Than Good
Marketing Copy Every Time 9. Fitting It To Social Media The Key To
Successful Social Gaming Is Immersion Once the player is in, keep
them in Now you can Display ads Sell Virtual Currency When
Immersed, Players Feel They Own Their Game So What Happens When
They Go To Buy? Now The Player Is Outside What They Own Keep Them
Inside And They Will Want More And Pay More 10. Fitting It To
Social Media How Can I Help You Today? 11. So What Do We Know 1.
Value Is Based On More Than Cost 2. We Think What We Own Is Worth
More Than What We Want 3. Actual Value is Relative, Not Absolute
12. And How Do We Use It 1. Emphasize the Prestige 2. Emphasize
Ownership 3. Emphasize the Sizzle, Deliver the Steak 13. Who Does
It Ridiculously Well? Whose Hand Is That Anyway? 14. THANK YOU
