450. The "G" in NUDGES: Mastering Feedback for Behavioral Success

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

In this episode of The Brainy Business podcast, Melina Palmer revisits a key topic from the foundational series on nudges, emphasizing the importance of feedback in correcting expected errors and guiding decision-making. Melina explores how thoughtful feedback mechanisms can keep individuals on track by providing timely and relevant cues, whether it's in daily life or within business processes.

Melina shares practical examples of feedback in action, such as the use of flashing lights on speed limit signs or the innovative pink-to-white ceiling paint by Glidden, highlighting how feedback can be effectively integrated into various contexts to improve outcomes. She also discusses the significance of feedback in sales processes and customer interactions, encouraging businesses to design thoughtful interventions that prevent errors and enhance customer satisfaction.

In this episode:

• Understand the role of feedback in the nudge framework and its impact on decision-making.
• Explore real-world examples of feedback mechanisms in everyday life and business.
• Learn how to design effective feedback interventions to prevent errors and enhance customer experience.
• Discover strategies for incorporating feedback into sales processes and customer interactions.
• Gain insights into the importance of thoughtful communication and follow-up in maintaining customer relationships.

Show Notes:

00:00:00 - Introduction, Melina introduces the 450th episode and its focus on the "Give Feedback" concept in nudges.

00:05:30 - Importance of Feedback Melina discusses the significance of feedback in preventing errors and guiding decision-making.

00:10:45 - Practical Examples Examples of feedback in action, such as speed limit signs and Glidden's ceiling paint, are explored.

00:20:00 - Feedback in Sales Processes Strategies for incorporating feedback into sales processes to enhance customer experience.

00:30:00 - Thoughtful Communication The importance of thoughtful communication and follow-up in maintaining customer relationships.

00:40:00 - 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
• Nudge, by Richard Thaler & Cass Sunstein
• Thinking Fast and Slow, by Daniel Kahneman
• What Your Employees Need and Can't Tell You, by Melina Palmer
• Sludge, by Cass Sunstein

Top Recommended Next Episode: NUDGES and Choice Architecture: Introduction (ep 35)

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