444. Bridging the Intention-Action Gap: Behavioral Insights with Dr. Sudy Majd

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

In this episode of The Brainy Business podcast, Melina Palmer revisits a compelling conversation with Dr. Sudy Majd, a leader and behavioral scientist with a rich background in e-commerce purchasing behaviors. Originally aired in early April 2020, this episode delves into Sudy's work at Candid, a company that helps people straighten their teeth with clear aligners, and her journey to incorporate behavioral science into business practices.

During the episode, Sudy shares insights from her research on consumer behavior, particularly focusing on the challenges of getting customers to return kits necessary for purchasing aligners. She discusses the surprising outcomes of applying behavioral science tactics and the importance of continuous testing and adaptation in real-world applications. The conversation also explores customer feedback, procrastination, and the psychological traits influencing consumer decisions.

In this episode:

• Discover the intention-action gap and how it affects consumer behavior in e-commerce.
• Learn about the application of behavioral science tactics, such as nudging and social norms, in business.
• Explore the balance between qualitative and quantitative research in understanding consumer decisions.
• Understand the role of customer feedback in refining business strategies and improving conversion rates.
• Gain insights into the future of behavioral science in business and its application in digital spaces and big data.

Show Notes:

00:00:00 - Introduction Melina introduces the episode and Dr. Sudy Majd, highlighting her expertise in behavioral science and e-commerce.

00:02:00 - Sudy's Background Sudy shares her journey from academia to applying behavioral science at Candid and other businesses.

00:08:00 - Challenges in Consumer Behavior Discussion on the challenges of getting customers to return kits and the initial application of behavioral science tactics.

00:15:00 - Testing and Adaptation Insights into the importance of testing and adapting strategies based on consumer feedback and psychological traits.

00:23:00 - Overcoming Procrastination Exploration of strategies to overcome consumer procrastination and improve conversion rates.

00:27:00 - Future of Behavioral Science Sudy discusses the future of behavioral science in business, including its application in digital spaces and big data.

00:29:00 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.

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Get the Books Mentioned on (or related to) this Episode:

• What Your Customer Wants and Can't Tell You, by Melina Palmer
• Alchemy, by Rory Sutherland
• Blindsight, by Matt Johnson and Prince Ghuman
• Using Behavioral Science in Marketing, by Nancy Harhut
• Immersion, by Paul Zak

Top Recommended Next Episode: How to Set Up Your Own Experiments (ep 63)

Already Heard That One? Try These:

• A Behavioral Economics Analysis of Costco (ep 47)
• Disney (ep 292)
• Peloton (ep 338)
• Starbucks: A Behavioral Economics Analysis (ep 73)
• Amazon (ep 159)

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