Behavioural Economics

Leveraging the science of behaviour to drive behaviour change in marketing and strategy challenges, from research to implementation to scale.

Clients ask: How do we drive acquisition, retention, increase cross-selling, and upselling? How do we design innovative new products and services to better meet the needs of our clients? How can we enhance the channel experience? How can we drive customer and/or employee adoption? How do macroeconomic factors lead to changes in micro behaviours? How can we enhance marketing enablement technologies? How do we change the behaviours of our customers for mutually better outcomes?

The BE FIRST Method is our core offering. Its components can be delivered through a selective, phased, or comprehensive approach. 

• Discovery & Behavioural Diagnostics Research
  We tailor our approach to the nature and scope of the challenge. The key activities include Discovery, which is a deep dive behavioural challenge identification and quantification, Behavioural Audits, Behavioural Data analyses, Diagnostics surveys, Behavioural Segmentation, Decision Mapping (for AI), and our Psychological Journey Mapping process.
• BE Solutions & Choice Architecture Lab
  In addition to on the ground primary data collection, we apply cutting edge academic research to our intervention design through literature reviews, systematic reviews, and meta-analytic approaches. Activities include designing Intervention Cascades (multi-channel, longitudinal, segmented), Ideation Think Tanks, and Design Labs which are further enhanced through industry expertise and multi-disciplinary collaboration. 
• Experimentation & Measures Lab
  Interventions are designed to allow rigorous testing and evaluation so we can tell whether they worked – and why. We implement, test, and evaluate interventions before scaling.

Behavioural economics offers new insights into the biases that influence how we think, what we perceive, and how we evaluate - and further, the behavioural tactics that can guide calculated strategic choices. 

Clients ask: How can we ensure our leadership team makes more effective, unbiased decisions? How will changing customer attitudes and behaviours impact our future growth strategy? How will our new value proposition impact our customers?

Core offerings:

• Moneyball for Strategic choices: Leveraging behavioural sciences to improve the quality of the decision-making process and strategic choices of leadership
• Behavioural Due Diligence to inform how to recreate a core offering through the principles of nudging
• Advisory on "the future of the customer" as a function of what we know about human behaviour and willingness to adopt, adapt, and change
• Feasibility assessments of new technologies, business models, and processes
• Development and quantitative testing of value propositions

Behavioural insights can enhance regulatory compliance, simplify processes, and optimize operations. This can lead to more efficient allocation of resources and meaningful outcomes by focusing on strategies that are based on the science of behaviour.

Clients ask: How do we modify a process to get better outcomes? How will coming regulations impact my business?

Example services:

• Market studies on consumer-facing regulatory programs, including empirical research methods
• Sludge Audits
• Streamlining claims processes to reduce skimming and fraud
• Deploying our BE SAFETY Framework for consumer and employee protection from scams and fraud
• Improving call time effectiveness
• Increasing workplace safety programs and compliance

Measurement science is the design and testing of behavioural measures that are valid, reliable, predictive, objective, and actionable. It enhances strategy effectiveness by bringing rigour to how organizations generate and apply knowledge. These measures, which we call Key Behavioural Indicators, work in tandem with Key Business Indicators.

Clients ask: How do we know if this is getting the impact we need? How can we better predict what customers will do? How do we mitigate the risk that a new strategy will fail?

Core offerings:

In addition to building custom behavioural measures (KBIs), these are the measures we have available today:

• Digital Trust Index 
• Team Dynamics Diagnostics Tool 
• Social Momentum Index for Organizational Purpose

We develop novel insights through rigorous examination of new and existing behavioural data through:

• Behavioural Segmentation
• Behavioural Data Generation & Analysis

Capability building so that teams can embed behavioural insights knowledge, toolkits, and techniques within their own teams in order to improve effectiveness, enable innovation, and a culture of curiosity.

Clients ask: How do we embed BE in-house? How do we improve our internal processes? How do we become a more innovative organization? How do we embed customer psychology into our operations?  

Core offerings:

• BE Training and Workshops
• Behavioural Toolkits for specialized teams (eg sales, client service)
• Organizational Readiness Assessment (for BE)
• Building and designing in-house BE teams