We define how your
customers make decisions.
If conscious thought is NOT the source of your customer’s decision-making, what is?
A common refrain in behavioral economics: “We don’t think as much as we think we think!” In essence, we are creatures of habit and creatures of behavior—not creatures of thought. Understanding how these predictable habits and behaviors will impact the ways that your customers interact with your product or brand is critical. Once understood, design thinking will help you outsmart your customer’s biases or, at the very least, not make you a victim of them.
The traditional research tools often only tell us more about what consumers believe they are going to do than what they will actually do. The groundbreaking work in behavioral economics over the last few decades has actively demonstrated that our customers often think of themselves one way, but, when placed in an actual consumer situation, they act differently than they indicated that they would.
Why is understanding behavioral economics so important in marketing?
Sometimes customers think one way yet act in another in response to the actual structure that has been placed around the situation; for example, too many choices or positioning a choice as a loss rather than as a gain. And these types of structures can actually be controlled—by you or your competitor—to elicit the desired choice. Sometimes it is a result of a series of mental shortcuts that your customer takes to avoid more complicated thought, or an emotional response based on how a choice was presented. Either way, it is possible to deconstruct this decision-making process and accurately anticipate likely responses.
What is the Campos role in Decision Mapping?
Campos has a significant passion for the behavioral sciences, and specifically for behavioral economics. Over the course of every project, we actively seek to identify when principles of behavioral economics are at play so that we can properly advise our clients on not just what the results say, but what the principals of behavioral economics predict will actually occur. Campos strategists and researchers keep behavioral science in mind from the conception of a project, through instrument design, data collection, and, finally, through insight and recommendations. We can help you construct a new decision model that takes advantage of known biases and shortcuts, rather than having you fall victim to them.