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


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


BIG IDEA # 1 - THERE ARE TWO SYSTEMS IN YOUR BRAIN

emotional

rational


Getting inside your client’s brain(Neuroscience 101)

Marketers often assume that the rider controls the elephant....

the emotional brain

the rational brain


BUT THAT’S REALLY NOT THE CASE ...



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


Elephants love technology because it makes everything so much faster, cheaper and easier.


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


So let’s look at five proven ways

to disrupt a mature industry,

by charming your client’s elephant


PEANUT # 1 - CREATE CERTAINTY

THE SAFER BET



YOUR ELEPHANT’S FIRST JOB IS TO KEEP YOU SAFE


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?



> User ratings on drivers> Details of the car/plate> GPS tracking


Try it for freeOne-day passes



Try it for freeOne-day passes

Excerpts and samples



** BRAND TRUST IS TRANSFERABLE!


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


PEANUT # 2 EXPRESSION/EMOTION

MORE PLEASURE, LESS PAIN

(C) Neuro Power Pty Ltd www.neuropowergroup.com

(C) NeuroPower Group Pty Ltd www.neuropowergroup.com(C) Neuro Power Pty Ltd www.neuropowergroup.com

ELEPHANTS EXPERIENCE INSTANTANEOUS AND POWERFUL EMOTIONS


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


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


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


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...


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...


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


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


PEANUT #3- LEADING THE PACK

STATUSMATTERS!


(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



How do you help your clients win?

(and feel like they are winners)


Tip #1



Become part of the ‘inner circle’ with just 15 successful referrals!


Tip #2



> Uber: Everyone’s private driver

> Uber-vangelists

What’s Oprah reading this week?


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:


PEANUT #4 - CONNECTION

LOVE MEANS FORGIVENESS



ELEPHANTS LOVE BEING IN LOVE

WHAT MAKES

YOUR OFFERING

LOVABLE?(C) NeuroPower Group Pty Ltd www.neuropowergroup.com


THE ‘APPLE ROMANCE’


EMIRATES: SPEAKING THE PASSENGER’S LANGUAGE (WHATEVER THAT IS)



CATS DELIVERED ON DEMAND?


THE IMPACT OF OXYTOCIN

LESS CRITICISMHIGHER TOLERANCEHIGHER FORGIVENESSLESS PRICE SENSITIVITY



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


PEANUT # 5 - CLARITY

CUTTING THROUGH THE CONFUSION



EMPHASISE EVERYTHING AND YOU EMPHASISE NOTHING


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?



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


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



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:


NOW IT’S OVER TO YOU

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the neuroscience of disruption

Technology