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32. The Overwhelmed Brain and Its Impact on Decision Making

32. The Overwhelmed Brain and Its Impact on Decision Making

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


32. The Overwhelmed Brain and Its Impact on Decision Making

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

ratings:
Length:
36 minutes
Released:
Jan 25, 2019
Format:
Podcast episode

Description

What happens when our brains get overwhelmed? What is the impact on decision making? Today’s behavioral economics podcast is going to focus on these foundational topics. Businesses always ask people to take some sort of action (buy this, click here, download that). It’s a good idea to be careful not to overwhelm your potential customer. An overwhelmed brain will move on and file your business in the “maybe I’ll look at this later” pile. A real life business example of taking care not to overwhelm a potential customer (or in this case listener) is these show notes. I take extra time and expense to have everything laid out in an easy to understand way with all of the related links and studies available for you. That way you can relax and enjoy the show, and if you ever want to learn more or check out the links, you know they will be here waiting for you. I also give more real life and business examples of overwhelm and how it affects the brain and your business. CLICK THE IMAGE FOR YOUR FREE DOWNLOAD! Show Notes [03:32] OVERWHELMED BRAIN [03:46] I have extensive show notes for every episode, because I want to make it as easy as possible for you to relax, listen to the podcast and still have the resources available (so you don’t have to fill up your brain with the one thing you are trying to remember). [04:57] This is the same reason my strategy sessions are done on Zoom and recorded. I want my clients to be able to be in the moment. [05:50] This is another testament to NUDGES and expecting error. I do not expect that someone will remember every little tidbit they want to from every conversation we have. [06:07] There are two errors here – 1) the inability to remember what was discussed because there is a lot and 2) the inability to really focus in the moment because the conscious brain can only devote so much. [06:32] To combat both of those things, I have show notes and videos to help relieve some of that pressure. [07:14] CHOCOLATE CAKE STUDY [07:45] Participants in a study were asked to memorize a two-digit or a seven-digit number. Participants with the two-digit number were more likely to choose a healthy snack when offered. Those with the seven-digit number? They were more likely to choose chocolate cake. [08:34] Our subconscious brains can process 11 million bits of information per second. Our conscious brain can only do about 40 bits. [08:43] When your conscious brain is focusing on something, it tunes everything else out. [09:01] With your conscious brain occupied, the subconscious is tasked with taking the wheel. It is now running the show. [09:17] Our brains are fueled by rewards like dopamine. [10:23] Just think of all the times your conscious brain is able to get overwhelmed. [10:36] One subconscious rule of thumb is to ignore things that are too complicated. [12:53] Dan Ariely provides a great example of this in his book, The Upside of Irrationality, where giving people an opportunity for a large bonus (5 months salary) severely lessened their ability to perform on somewhat easy tasks. [13:18] The amazing computers in our heads are very easy to bog down. [13:50] POVERTY AND COGNITIVE ABILITY [13:58] Studies have found that those in poverty have reduced cognitive abilities. [14:54] This definitely gets at the core of why it can be hard to break a pattern when you are in it. [15:03] SNOWBALL VERSUS BATTERY [15:15] If your brain is overwhelmed…you will probably reach the point of fatigue much faster than you would if you were in a relaxed state. [16:20] POST COMPLETION ERROR [17:47] I travel quite a bit, but when I am packing for important trips, I tend to do a lot of running through lists in my head, “iPad – check, good shoes – check, toothbrush – check” you know what I mean. This creates an overwhelmed brain. [18:50] Why do we sometimes forget to bring our purse or wallet to work? Or drive away without putting the lid back on the gas tank? This is called post-completion error, and it happens when we complete some or
Released:
Jan 25, 2019
Format:
Podcast episode

Titles in the series (100)

Consumers are weird. They don't do what they say they will do and don't act how we think they "should." Enter Melina Palmer, a sales conversion expert with a personal mission to make your business more effective and brain friendly. In this podcast, Melina will take the complex concepts of behavioral economics (the study and science of why people buy - or not) and provide simple, actionable tips you can apply right away in your business. Whether you're a small business or thriving corporation, Melina's tips can help your business increase sales and get more customers.