Understanding cognitive biases can inform marketing and advertising strategies in businesses. Availability bias causes individuals to rely on immediate information, which is easily accessible, instead of thorough research. If it comes to mind easily, we think it is more true or likely than if it doesn't come to mind as easily. Of course, that isn't always the case. Availability bias can deeply influence decision-making processes both within a company and for its customers. For businesses, understanding this bias can provide pivotal insights about consumer behavior--one great way to use this, which host Melina Palmer discusses in detail throughout the episode, is in pitching your business and getting PR. During the podcast, Melina vividly illustrates the concept through examples, such as the typically contrasting associations with the words "shark" and "cow." She points out that these associations are borne out of the easily available information about these animals, rather than a comprehensive understanding of their respective behaviors. (Which do you think is more deadly? If you said a shark...you're in for a surprise!) Understanding availability bias and how it can be leveraged is essential for business owners and marketers to craft strategies that share the right message at the right time. In this episode: Unlock insights into availability bias and its impact on decision-making. Hear some fun examples -- like, should you be more scared of sharks or cows? -- that will show how your own mind is tricking you regularly. Learn why you should be following trends (and predicting them) so you communicate the right messages at the right time. Hear the fascinating story of the diamond industry and how they used availability bias to shape the narrative. Find out what HARO is, and how it can help your business to gain visibility along with availability bias. Show Notes: 00:00:00 - Introduction, Melina Palmer introduces the episode and explains that availability bias is one of her favorite concepts from behavioral economics. She mentions that availability bias is the tendency to judge the likelihood of something happening based on how easily examples come to mind. 00:01:10 - Importance of Availability Bias, Melina explains that availability bias is important because it affects our perception of risk and influences our decision-making. She gives examples of how availability bias can impact our view of certain events or situations. 00:09:06 - Swapping Out Questions, Melina discusses how our brains often swap out difficult or unfamiliar questions with easier ones (known as satisficing). She uses the example of solving a complex math problem and how our brains substitute it with a range of possible numbers instead. This swapping out can lead to / go hand-in-hand with availability bias. 00:11:21 - Impact of Stories and Personal Experiences, Melina explains that stories and personal experiences have a significant impact on availability bias. Our brains are more likely to remember and be influenced by vivid examples and stories rather than statistics or abstract information. 00:14:01 - Applying Availability Bias in Business, Melina advises businesses to be mindful of availability bias when developing their strategies. She emphasizes the importance of using social media as a tool to support other business objectives rather than relying solely on it for monetary gain. (Will 1 million YouTube downloads a month make you rich?) 00:18:00 - How Our Brains Associate Information, Our brains associate information in very literal ways. Melina shares examples of travel to Norway increasing dramatically because of a cartoon, and skyrocketing sales in Mars bars when the Mars rover was in the news. Aligning your business with popular topics can help boost your visibility and engagement. 00:19:07 - Being Aware of Trends, Stay aware of what's trending in social media, news, and pop culture. Find ways to connect your business to these trends and get ass