Do you believe in magic?
Most businesses today lack the vision to optimise for changing human behaviour because they focus on optimising their processes and products based on existing consumer behaviour and economic trends. I think there are also businesses who actively seek to influence and shape consumer behaviour, often through marketing, branding, and product innovation. And these businesses understand the power of changing perceptions, creating trends, and altering the meaning and value associated with their products or services. As a marketer we can change the way people behave, we can change what things mean, we can change whether something feels cheap or expensive.
Unfortunately, the finance division of businesses are often based on rational and data-driven decisions. This approach tends to rely on analysing historical data, market trends, and economic indicators to make strategic decisions. I think whilst this analytical mindset is extremely valuable, it’s also important to recognise that unconventional and creative solutions can lead to breakthroughs and shouldn’t be ignored. Magic is not easy and not everybody can do it all the time, but it should be integrated into your decision making processes because there are magical solutions out there.