People often do not act rational when it comes to consumer and everyday decision making. Many organisations are unaware of the intricacies, and they overlook what we already know from academic research. With the gap in understanding, as such, even sound business strategies do not always produce a positive behavioural change.
At Brainpool, we offer behavioural insights in the UK, which provide a deeper understanding of the consumer and help to identify at-risk clients.
Behavioural insights draw on research into psychology and behavioural economics. It is a discipline that aims to explore human behavioural patterns which include the many irrational factors that go into decision-making processes.
By focusing on cognitive, social and emotional behaviour, one can make subtle changes to the way decisions are framed which can result in effective nudging of people according to behavioural insights. Also, behavioural insights help organisations better understand how people act and what they need; and this, in turn, leads to better products and services.
Retailers can utilise the information collected about the buying habits of their target audience, while banks may use behavioural principles to boost participation in investments or retirement-savings plans, for instance. Marketers, on the other hand, will easily understand why some promotions entice customers while others do not.
Our UK behavioural insights team at Brainpool helps businesses understand how real people act and, in turn, businesses will be able to design better products and services. Armed with solid data, businesses can also develop programs that engage valuable customers and prevent them from turning to a competitor.
In addition, behavioural insights help businesses change an approach with customers, as well as help them comply with regulations. Simply put, behavioural insights equate with opportunities for growth.
Few business owners and corporate strategists consider the cognitive biases when making important business decisions. With behavioural insights, leaders who make strategic decisions can recognise their own biases and make sound and objective judgment calls. They can also identify areas with a real potential for better service, higher compliance or increased efficiency.
Make smarter decisions for your business with the help of Brainpool, the leading behavioural insights company in the UK. We offer unmatched behavioural insights solutions. Fill out the contact form today.