On this episode of Seeking Wisdom, DC and DG break down lessons from Daniel Kahneman’s classic book Thinking, Fast and Slow – and why this might be the most important book for anyone in sales and marketing. Topics on this episode:
- Lessons from a recent outdoor ad campaign and American Eagle
- Cognitive biases
- Anchoring effect
- The Halo Effect
- What will DC be for Halloween?
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In this episode:
1:00 – Thinking Fast and Slow by Daniel Kahneman
1:05 – Marketing lesson from blitz billboards in San Francisco YouTube
3:13 – How to get the referral and DC’s playbook
5:20 – Why DC loves Thinking Fast and Slow…the third degree, black belt
6:16 – Blinkist app/website for book summary
7:38 – Why this is an important book for business people
8:13 – How we make decisions
8:38 – System 1 thinking: fast, intuitive, emotional, reptilian brain (DG!)
9:15 – System 2 thinking: slower, deliberate, logical thinker, DC’s sleep on it hack
9:59 – Learning how to modulate and create guardrails for yourself in biases
10:20 – Charlie Munger and realizing you don’t have control over biases
11:15 – Anchoring Effect
12:38 – Discounting as a form of anchoring
12:56 – DC’s trip to American Eagle with his daughter
13:43 – We’re all blind to this stuff
14:25 – The Halo Effect
15:12 – Shep Gordon, the master of the Halo Effect or Light Bulb Effect
15:54 – DG’s tips to understanding the magic in marketing
16:25 – Doing the work, practicing and applying what you learn
17:24 – What is Halloween? ?
Books mentioned in this episode:
- Thinking Fast and Slow by Daniel Kahneman
- Influence by Robert Cialdini