The Neuroscience of Disruption
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Transcript of The Neuroscience of Disruption
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
Disrupting your industry...
Peter BurowExecutive Chairman and Author, NeuroPower Group
before it disrupts you
neuroscience and client behaviour
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
KEY TAKEAWAYS FROM TODAY’S SESSION
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How the brain’s two systems (the elephant and rider) drive strange client behaviours
Five proven ways to disrupt a mature industry by charming the elephant
Your questions, comments, observations and theories
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
BIG IDEA # 1 - THERE ARE TWO SYSTEMS IN YOUR BRAIN
emotional
rational
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Getting inside your client’s brain(Neuroscience 101)
Marketers often assume that the rider controls the elephant....
the emotional brain
the rational brain
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BUT THAT’S REALLY NOT THE CASE ...
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
There are many different parts of the business model that may irritate your client’s elephant
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
Elephants love technology because it makes everything so much faster, cheaper and easier.
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BIG IDEA # 2 - WHENEVER WE CAN, OUR BRAINS GO ONTO ‘SCREENSAVER’
WE’LL DO WHAT WE’VE
ALWAYS DONE...
UNTIL THERE’S A
PROBLEM...
OR A BETTER DEAL(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
So let’s look at five proven ways
to disrupt a mature industry,
by charming your client’s elephant
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PEANUT # 1 - CREATE CERTAINTY
THE SAFER BET
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
THE RARER THE PURCHASE, THE MORE LIKELY YOUR CLIENTS’ ELEPHANTS WILL BE ASSESSING YOU FOR ‘TRUST’
HOW DO YOU MAKE THEIR ELEPHANTS FEEL CONFIDENT THAT YOU ARE A SAFE BET?
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
> User ratings on drivers> Details of the car/plate> GPS tracking
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
Try it for freeOne-day passes
> User ratings on drivers> Details of the car/plate> GPS tracking
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
Try it for freeOne-day passes
Excerpts and samples
> User ratings on drivers> Details of the car/plate> GPS tracking
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
You can build trust faster by leveraging
these markers of ‘trustworthiness’
1. Scale2. Recommendations
(Social proof)3. Brand
4. Guarantee5. Regulation/Standards
PEANUT # 1 - CERTAINTY
THE SAFER BET
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PEANUT # 2 EXPRESSION/EMOTION
MORE PLEASURE, LESS PAIN
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) Neuro Power Pty Ltd www.neuropowergroup.com
ELEPHANTS EXPERIENCE INSTANTANEOUS AND POWERFUL EMOTIONS
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DISRUPTORS DON’T WIN CLIENTS.... CURRENT MARKET LEADERS LOSE THEM
INCONSISTENCIES » CONFUSION
INCOMPETENT STAFF » ANGER
TIME-WASTING » FRUSTRATION
.... ETC.
EXTRA EFFORT » RESENTMENT
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
Catching a cab (if you can)
ý hard to hail/order
ý you never know when they’ll arrive - or if they’ll take you
ý hard to know how much it will cost - or if they’ll rip you off
ý quality and comfort are unreliable
ý payment slows you down - right when you’re ready to hurry
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
Catching a cab (if you can)
ý hard to hail /order
ý you never know when they’ll arrive - or if they’ll take you
ý hard to know how much it will cost - or if they’ll rip you off
ý quality and comfort are unreliable
ý payment slows you down - right when you’re ready to hurry
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
ý Have to plan ahead
ý Forced to choose
ý Need a dedicated piece of equipment
ý Limited play time without changing record > tape > CD > ........
Streaming killed the record store...
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
ý Have to plan ahead
ý Forced to choose
ý Need a dedicated piece of equipment
ý Limited play time without changing record > tape > CD > ........
þ On-demand
þ Millions of songs
þ With you wherever you go (smartphone)
þ Set and forget
Streaming killed the record store...
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One-tap rideReliable pick-ups
Clear pricingCashless payments
A radio tailored for you that never plays
a bad song
1000s of books with none of the weight
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Reduce pain for your clients by focusing on:
1. Time (including number of steps)
2. Complexity of decisions
3. Unpleasant environments
4. Inconveniences
5. Painful surprises
PEANUT # 2 - EXPRESSION AND EMOTION
MORE PLEASURE, LESS PAIN
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PEANUT #3- LEADING THE PACK
STATUSMATTERS!
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) Neuro Power Pty Ltd www.neuropowergroup.com(C) Neuro Power Pty Ltd www.neuropowergroup.com
ELEPHANTS COMPETE
THE BRAIN LOVES:
• ACHIEVEMENT
• RECOGNITION
• PRESTIGE
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
How do you help your clients win?
(and feel like they are winners)
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Tip #1
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Become part of the ‘inner circle’ with just 15 successful referrals!
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Tip #2
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
> Uber: Everyone’s private driver
> Uber-vangelists
What’s Oprah reading this week?
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1. Association (ie. bragging rights)
2. Rewards
3. Recognition
4. Gamification
5. Exclusive benefits
PEANUT # 3 - LEADING THE PACK
STATUS MATTERS
You can help your clients feel the
neurochemicals of status by:
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PEANUT #4 - CONNECTION
LOVE MEANS FORGIVENESS
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
ELEPHANTS LOVE BEING IN LOVE
WHAT MAKES
YOUR OFFERING
LOVABLE?(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
EMIRATES: SPEAKING THE PASSENGER’S LANGUAGE (WHATEVER THAT IS)
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
THE IMPACT OF OXYTOCIN
LESS CRITICISMHIGHER TOLERANCEHIGHER FORGIVENESSLESS PRICE SENSITIVITY
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
You can build deeper connections with your
clients through
1. Humanisation (e.g. photos, profiles, etc.)
2. Personalisation (i.e. preferences and tailoring)
3. Community4. Causes
5. Communication
PEANUT # 4 - INTERPERSONAL CONNECTION
LOVE MEANS FORGIVENESS
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PEANUT # 5 - CLARITY
CUTTING THROUGH THE CONFUSION
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(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) Neuro Power Pty Ltd www.neuropowergroup.com
EMPHASISE EVERYTHING AND YOU EMPHASISE NOTHING
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SINGLE IMAGE PRICING
USE CLIENT DATA TO MAXIMISE MARGINS, WHILE KEEPING IT SIMPLE FOR THE ELEPHANT
DEMOGRAPHICSOCIOECONOMICGEOGRAPHICPAST PURCHASEEVENT-DRIVEN
How much money are you leaving on the table because
you don’t know enough about your clients?
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
You can become the authority by
eliminating confusion (and inefficiencies) in
1. Product 2. Pricing
3. Payment4. Delivery
5. Processes
PEANUT # 5 - CLARITY
CUTTING THROUGH THE CONFUSION
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
FIVE PEANUTS AND YOU HAVE AN ELEPHANT STAMPEDE!
1. Being a safer bet
(Certainty)
(Delight)
(Prestige)(Connection)
(Clarity)
2. Addressing key pain points
3. Building the client’s status
5. Cutting through the
confusion
4. Building a deeper relationship
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com
y
1
2
3
How the brain’s two systems (the elephant and rider) drive strange client behaviours
Five proven ways to disrupt a mature industry by charming the elephant
Your questions, comments, observations and theories
IN THE LAST 15 MINUTES:
(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) Neuro Power Pty Ltd www.neuropowergroup.com
NOW IT’S OVER TO YOU