Behavioural science - an opportunity missed by the marketing industry?
In the light of the recent Economics Nobel Price win of Richard Thaler we marketers have to ask ourselves: Do we utilize the existing research on human behaviour sufficiently?
Kahneman and Tversky identified "human biases" in the 60s, 70s and 80s. But: Do we investigate how these findings may inform personalisation? The "Behavioral Insights Team" originally set up by the by the British Government aims to shape citizen behaviour with "nudging". But: How many of us marketing people use these techniques and tactics frequently in our job?
Has our fear to miss some new technology driven us to overlook the opportunity to shape behaviour based on psychological research?