Using Behavioral Economics to Identify What Motivates Shopper Behavior
1 p.m. CDT || Thursday, July 20
Behavioral economics, the intersection of psychology and economics, is broadly gaining ground in the business world. Shoppers often make irrational decisions based on messaging brands can control. We will discuss proven behavioral economic methodologies and how they can be applied to digital tests to uncover the most effective shopper motivators. These learnings can be tied to specific audience segments and applied at scale to increase shopper engagement online and in-store, making national, shopper and trade promotions more impactful and cost-effective.
In this free session, you’ll learn how marketers can leverage behavioral economics to identify triggers that drive shopper behavior along the path to purchase. Attendees will:
- Learn what behavioral economics is and why it is important.
- Understand how behavioral economics is used in the business world.
- Walk through an actual case study on how brands can use behavioral economics to influence a shopper’s path to purchase across audiences and channels.