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

Jun 22, 2023

On the eve of the 300th episode of The Brainy Business, it felt like the perfect time to do a “best of” episode from the first five years of the show (another milestone we are just a couple of weeks away from!). How do we find out the “top” content around here? Thankfully, I don’t have to choose (each episode is like one of my babies), and, we don’t even have to ask. 

You have been voting every day for the last five years as you have chosen which episodes to listen to. And, in these five years, you have cast 904,605 “votes” that made it into the final tally that created this Top 20 list. Thank you to everyone in the more than 170 countries who have listened to, rated, reviewed, subscribed to, and shared The Brainy Business podcast over the last five years. We wouldn’t still be here if it weren’t for you – please keep it up (and we plan to too!) In this episode: 

  • Delve into the psychology behind consumer decision-making and its impact on businesses.
  • Reinforce your learning by revisiting earlier podcast episodes and mining hidden gems.
  • Embrace the concept of continuous improvement by experimenting and testing new ideas.

Show Notes:

  • 00:00:00 - Celebrating the First 5 Years,
    In this episode, host Melina Palmer celebrates The Brainy Business podcast's 299th episode and the first five years of the podcast. She shares that upcoming new episodes include an interview with Jonah Berger (301) to kick off the next hundred, as well as the five-year anniversary episode and data visualization designer Sarah K. Miller (303), who created an amazing piece of data art to commemorate the top downloads for the first five years.
  • 00:02:00 - Top 20 Most Downloaded Episodes,
    Melina shares that 904,605 votes from over 170 countries were cast for the top downloaded episodes – so cool! She then goes on to list the top 20 most downloaded episodes, starting with The Voltage Effect, by John List. Other top episode guests from 11-20 include Kurt Nelson, Troy Campbell, Eric Johnson, Prince Ghuman, and Katelyn Bourgoin. Not to mention, several solo episodes from Melina, like the one on the behavioral economics of Starbucks.
  • 00:09:47 - How to Create Remarkable Experiences with Dan Gingiss,
    Melina talks about the 13th most downloaded episode of all time, episode 185, with Dan Gingis. They discuss his book The Experience Maker and how to create great experiences using his WISER methodology.
  • 00:12:00 - How to Successfully Pitch Your Business,
    Melina shares her tips on great pitches in the 11th most downloaded episode of all time, episode 177. She also mentions that if listeners are interested in consulting or improving their pitches, they can book a strategy session or send her an email.
  • 00:13:33 - How to Make Online Courses People Enjoy with Chris Rawlinson,
    Melina talks about the 10th most downloaded episode of all time, the shocking completion stats for most courses, and how 42 Courses have exceeded all expectations. In this episode, founder Chris Rawlinson shares his tips for creating awesome online courses that people actually complete (and enjoy).
  • 00:17:23 - You Love Influence,
    Three episodes from specialists in the area of influence, including Vanessa Bohns (You Have More Influence Than You Think), Yale Professor Zoe Chance (Influence Is Your Superpower), and, Robert Cialdini (Influence) all made the top 10. Where specifically did they land and what are some of Melina’s favorite insights from these episodes? Give it a listen.
  • 00:21:06 - The Paradox of Choice,
    Episode 171 focused on the work of Barry Schwartz and how more choices can often lead to overwhelm and a tendency to choose nothing. People are less likely to buy when there are too many choices, so it's important to make it easier for them to choose. This is the 5th most downloaded episode of all time.
  • 00:22:16 - The Dunning Kruger Effect,
    Episode 198 (refreshed as episode 266) discussed the interesting relationship between confidence and competence and how when we know very little about something (low competence) we have ridiculously high confidence. Once we get more competence and start to see all that we don't know, confidence tanks. This was the 4th most downloaded episode of all time.
  • 00:24:49 - Get It Done,
    Based on the work of Ayelet Fishback, episode 186 gives tips and insights into the science of motivation to help you complete your goals and get more of the right things done. It's about setting the right goals in the right way and avoiding the relentless pursuit of goals that can sometimes come at our own detriment. Congratulations to Ayelet on the interview with the most downloads ever and the 3rd most-downloaded episode of The Brainy Business podcast!
  • 00:27:01 - The Top Two, Are The First Two,
    The first two episodes have been the two most downloaded from the beginning. Melina explains why she thinks this is, and some of what you will find in those episodes.
  • 00:32:54 - Recap of the Top 20 Episodes,
    Get the full list of the 20 most downloaded episodes of all time, so you can add them to your listening queue!
  • 00:33:37 - Thank You,
    Melina expresses gratitude to all listeners for making the first five years of The Brainy Business podcast a success beyond anything imagined. She also teases new projects coming soon and encourages listeners to sign up for the newsletter/connect on social media to be the first to know.
  • 00:34:31 - Conclusion,
    Melina's top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.

Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show. 

I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.

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