E44: Ethical Neuromarketing with Dan Russell

Show Notes:


Neuromarketing-focused advertising specialist Dan Russell owns Agency Golden, a done-for-you digital advertising agency with a mission to innovate new ways to educate the public and spread products and services that matter. They work with business consultants, coaches, fitness and therapy professionals, app companies, and a variety of other businesses. On the show, we dive into neuromarketing, it’s applications, and how to stay ethical in this powerful, futuristic field.


Some of the highlights of the show include:

 

  • Dan’s business is a full-service version of a marketing department.
  • Agency Golden is named after the Golden Rule: treat others the way you want to be treated.
  • Dan believes reading brainwave patterns and other neuroimaging studies is the direction that marketing is moving toward.
  • Dan’s work is a responsible application of neuromarketing research. Long-term, he’d like to have a division that runs studies.
  • The availability heuristic tells us that readily accessible info is given more weight in our brain. This concept can be programmed into consumers’ minds.
  • These principles could be used for bad purposes, which is why Dan developed a code of ethics.
  • To have a successful virtual team, Dan’s agency relies on daily meetings, a comfortable culture, and a standardized time zone.
  • Best advice: The role of a CEO includes 1) don’t run out of money 2) put people in the right seats and 3) maintain the culture of the company.
  • Best personal habit that contributes to success: Morning routine of coffee, yoga, reading, writing, and meditation.
  • Book recommendation: Think and Grow Rich by Napoleon Hill and Buyology by Martin Linstrom

 

Links:

 

 

Quotes:

 

  • Neuromarketing is the application of psychological tendencies, patterns, and heuristics in combination with neuroimaging studies… …which provide more of an insight on how to communicate with your customer.”
  • “Potentially, customers might not know how to express their thoughts.”
  • “You could actually learn something by seeing what’s happening in their brain vs. the words that are coming out of their mouth.”
  • “We all have these filters were we don’t want people to know what we’re thinking.”

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