The Ice Berg Principle
In South Africa today we hear people voicing their opinions daily about Corruption, Inflation, the Petrol Price, Toll Roads and companies are complaining more and more about lower productivity, increasing costs of motivating employees and higher levels of dishonesty. Could these be modern moral dilemmas or simply the manifestation of age-old behavioural biases that we are only now beginning to understand?
Why do people spend hours driving around or surfing the web to find a better deal or a lower price on what they buy, thinking they’ve gotten a bargain and saved money? Why do we think that the more expensive item is the better, higher quality one?
Every day we make choices that are, on the surface, well thought through and yet are completely irrational.
In the past twenty years there has been a revolution in economics with the study not of how people would behave if they were perfectly rational, but of how they actually behave. At the vanguard of this movement in South Africa is Erik Vermeulen.
In this new keynote address, he delves beneath the obvious, sharing how traditional economics have failed us for years, and how behaviour and psychology has a far-reaching impact on the way people make decisions.
- How we miss the most obvious things.
- The effect of price in decision-making / bargaining
- Why we say we can’t afford a new tax, but we can afford eating out and going to rock concerts
- Herding and managing group behaviour
- Money for work
- Why it’s taken a toll road to get South Africans united.
- 5 Ways how understanding behavioural economics can help your sales people see the sale from the client’s point of view.
- 4 Game changers every marketer needs to know about behavioural economics
- 5 Biases that prevent your prospect from buying from you
- 5 Critical “must-knows” to change employees behavior
- 4 Behavioural traits to help you create a happy workplace
This presentation is essential for organisations that want to better understand how behaviour affects their bottom line. Why customer service often fails and why social media has launched a corporate “Arab Spring”, and why attracting employees and customers is becoming more and more difficult. If you’re in a business that employees people, has customers and want to turn a profit, you cannot afford to miss these insights.
Bottom-line: If you’re in a business that employees people, has customers and want to turn a profit, you cannot afford to miss these insights.