0

Behavioral Economics

Analyze / Interpret / Execute

The foundation of all we do

Digital Placement

• Understanding the complexities of emotional triggers and how they influence the way in which consumers process information given to them within promotional tools.

• Being intentional in the way that marketing tools are developed, utilizing heavy amounts of research and analytics to support the motives in promotional resources.

Knowing your customer

It is not JUST about making products and services more attractive to a consumer’s eye but one has to also take into account the way that consumers “Process” promotional tools.

Emotional Appeal Advertising Does Not Make Sales

An individual may be attracted to the ad overall because it’s funny, this is usually done by reaching people based on certain demographic information. For instance, an older generation may find one type of humor funnier than another. But just because a person thinks the ad is funny does not mean that they are going to consume what the advertiser is offering. It draws them in but a lot of other factors contribute to whether or not a person buys into the product or service. This is where behavioral economics comes in.

Behavioral economics takes into consideration how a consumer “processes” the information given in an ad. For instance, there are storylines more fitting for one generation than another. The way information is presented should be adjusted based on the perceptions of different markets. Understanding that, as advertisers, it is not just about getting the attention of the consumer, but making that sale forces this agency to be intentional when it comes to both creative and strategy. Being hyper sensitive to consumer purchasing behavior puts Sandoval in the position to be more effective and efficient when compared to the next best guy.

A one-hit-wonder only makes the news for a few months. This is the type of surface level response that companies get when they market on shallow information. For example, they think a brightly colored ad will make the people watching it buy their product, instead of understanding the complex, decision making process of that person. When a marketer takes the time to not just make an ad engaging on the surface, but also works to challenge a consumer’s train of thought while they engage with it, then it is successful.

The best way to understand the behavior of consumers is through research and development. Approaching strategy and creative with a foundation in research that provides analytical insight is what drives efficiency in marketing.