Friday, 23 October 2009

Behavioural economics for advertising

Rory Sutherland of the IPA is leading a push for behavioural economics in the advertising business.

This video is an excellent summary of how ad agencies should turn "human understanding into business value for clients".

Here is his TED video about intangible goods, which has plenty in common with the best bits of Tyler Cowen - he even mentions Tyler and Marginal Revolution in the talk.

And here is the event on Wednesday that I missed - thanks (but no thanks!) to Mark Earls for mentioning it after the fact. I guess I should have checked his blog before Wednesday too...

I agree entirely with the message that behavioural economics is a critically important discipline for marketers to master. It has the potential to finally bring science and rigour to the practice of marketing, which has for many years been a craft - a well-practised craft, but still one with no basis in testable, predictive theory.

No comments: