How to combine Incentives analysis and Behavioral Insights to change behaviors

While it’s true that Behavioral Insights by themselves can modify individual behaviors, don’t forget that in the real world, Incentives are much more powerful in terms of driving impactful changes. Of course, using both in a combined fashion yields the best results. Incentives trump Choice Architecture in terms of impact If you take a look […]

Don’t follow lessons in popular Behavioral Economics books

There is now an increasing number of Behavioral Economics books, including Nudge, Thinking fast and slow and a slew of others. It may be tempting to read them and apply what they preach. But be careful, as many of them oversell hard the findings of the studies they describe. Many BE results are coming from […]

The synergies between Behavioral Interventions and Conversion Rate Optimization

My offering as an independent consultant is centered around two areas: behavioral interventions: I use the results from a range of behavioral sciences—mainly behavioral economics & behavioral finance—to improve revenue generation, operational efficiency and customer satisfaction conversion rate optimization: I increase the percentage of people visiting a website or using a mobile app who actually […]

Target both objective and subjective customer satisfaction drivers

Behavioral Interventions are usually aimed at improving one or more of 3 key metrics: direct revenue generation customer satisfaction operational efficiency Leaving the first metric aside, let’s focus on customer satisfaction. The impact of a BI can be both direct and indirect. An example of an indirect impact would be to improve operational efficiency so […]

Why you should always test Behavioral Interventions on a small scale first

Behavioral interventions can have a very significant impact on human behavior. And since all human systems are complex, any change can have unintended consequences. For this and the other reasons that follows, it’s critical to include a test on a sample phase within all your behavioral projects. You can see how I use it within my […]

Distinguish mandates, incentives and nudges

Behavioral Economics got popular because it showed that people, in many ways, did not respond rationally to their own economic incentives. That doesn’t mean you can overlook them when doing touch point analysis. They’re still the foundation of human behavior, most of the time, even though they need to be completed by a behavioral analysis. Incentives […]

Decide on final business metrics before project launch

I have outlined briefly the typical steps of a behavioral intervention project but this bears repeating. All stakeholders should agree on a set of 2-3 business metrics that will measure the success of any behavioral intervention right when the project starts. A single metric to be improved is ideal, with a few others used to […]

How to prioritize customer touch points for behavioral intervention?

One of the most crucial steps in any Behavioral Intervention is to identify all customer touch points and evaluate how each of them both: shape the choices made by customers before any BI could be the most effective touch points to target as part of the Choice Orchestration phase to steer most efficiently customers towards […]

Doubt (at least initially) 95% of scientific research results

There are many results from scientific studies thrown around in the world of Behavioral Economics & all other Behavioral Sciences. This is especially true for practitioners. But scientific research does not mean sound research results that can be replicated and can be used by practitioners successfully. I’ll detail below but in short, published research is […]