Preview Mode Links will not work in preview mode

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

Sep 6, 2019

The physical representation of concepts is an important tool to use in your business. Things like colors and shapes can be recalled by our brains and associated with other non related things. This topic is really an amalgamation of other concepts, but it’s still a valuable tool to understand and use when communicating about your business. This episode gives examples of making concepts tangible, and their practical applications in business. 

This topic is the last main concept from my research paper that I announced last week. I also gave tips on running experiments like: keep it small, be thoughtful, and test often. I am super excited about next week, because I’ll finally be sharing my study on on increasing savings behavior and its results. 

And...speaking of exciting, the Brainy Pricing Course goes live Monday, September 9! Learn all about it and save with special discount codes below:

Pricing Course Workshop Bundle Save $100 with code BRAINY100OFF 

Pricing Course Only Save $50 with code BRAINY50OFF


Show Notes:

  • [04:59] This isn't really a topic you can easily look up. It's more of an accepted premise. The physical representation of concepts is an amalgamation of various other concepts.
  • [05:35] The brain works on associations. 
  • [07:47] Colors and shapes bring a physical presence that can be recalled easier than words. Your brain has been trained to recognize this physical representation of the concept of street signs (as explained here).
  • [08:56] Logos are physical representations of the concept of a business.
  • [09:27] The physical manifestation of the brand makes the business more real in your mind because there is a logo to relate to.
  • [10:21] This is not exactly the same as anthropomorphism, which is when animals or objects are given human-like tendencies; it can be a similar concept because it helps you relate to the item in question.
  • [10:52] Abstract concepts are everywhere in business, and they can easily cause miscommunication in conversations or messaging. Providing a physical reference point makes everything feel more real. 
  • [15:16] I did not want to get rid of my DVDs during a decluttering session. The reason why was because the physical, tangible, representation – the box and the item itself – was tied to my emotional center and triggered loss aversion.
  • [16:06] Where could you inject physical form we're only concepts exist in your business today?
  • [16:48] How Progressive took the concept of insurance and made it tangible.
  • [18:41] When you take something from conceptual to tangible, it makes it easier for the brain to categorize, relate, and remember.
  • [19:19] Pictures, logos, and icons make your business and its features feel real.
  • [19:29] Physical representation can help remind you of associations that you have made previously or that are important to you.
  • [19:56] Physical items are a constant reminder to your brain.
  • [21:57] You can make physical items that remind people of your business without having your name plastered all over them, that will be subtle reminders of you and your business.
  • [22:04] A strong brand is able to live through the lack of words and evoke feelings – they leave an impression even without their name.
  • [23:31] What could your business do to be a constant association and reminder in the brains of your customers?
  • [25:01] I share a credit union concept where the idea of using logos on items could have gone very wrong. Keep in mind that small associations matter.
  • [25:53] For your business, consider the emotions you want to convey – the things you want people to think when they consider your brand. Or, when they might be most likely to need your brand. What can you provide that will help them and remind them of you?
  • [27:10] You can also create visuals around what you want to do to help achieve your goals. What you surround yourself with has a HUGE impact on your approach to life, business and your success. This is priming in action.
  • [27:32] I want to help you surround yourself with the right physical representation of the concepts you care about to help you be successful.

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. 

Links and Resources: