Welcome to meeting #3What is the program for this afternoon?

1:15 p.m. Welcome and brief introduction new team members1:30 p.m. Book presentation about the ‘Plakfactor’ (Sabine)1:45 p.m. Does money makes u happy? (Bianca)2:10 p.m. Short break 2:30 p.m. The psychology of money (Reinoud) 2:45 p.m. Test your knowledge about neuromarketing 3:15 p.m. Time for some bitterballs and chats ;) 3:40 p.m. ARPA12 updates & Q&A with Bianca and Reinoud 4:00 p.m. Chats and close the meeting

Is the mantra “money can’t buy you happiness” a force-fed lie or truth?

Insights of a recent study with 625 participants.

But first…..

It’s all about the money?

Let’s talk a bit about the big five personality traits.

Who dares to name them?

Openness to experience (artistic versus traditional)

Active imagination (fantasy), aesthetic sensitivity, attentiveness to inner feelings, preference for variety, and intellectual curiosity.

Conscientiousness

A tendency to show self-discipline, act dutifully and aim for achievement.

Extraversion

Energy, surgency and the tendency to seek stimulation and the company of others.

Agreeableness

A tendency to be compassionate and cooperative rather than suspicious and antagonistic towards others.

Neurcotisism People who are neurotic respond

worse to stressors, are more likely to interpret ordinary situations as threatening, and minor frustrations as hopelessly difficult. They are often self-conscious and shy, and they may have trouble controlling urges and delaying gratification.

TEST: “Big five” personality traits

1. Openness to experience (artistic versus traditional)2. Conscientiousness (self-controlled vs easygoing)3. Extraversion (outgoing vs reserved)4. Agreeableness (compassionate vs competitive)5. Neuroticism (prone to stress vs stable).

OK, now which personality trait describes you best? Write this one down please.

Several categories of spending1. Entertainment, hair & Beauty 2. Insurance, health and fitness3. Entertainment, travel, events 4. Charities, pets5. Stationary, hotels6. Traffic fines, gambling7. Insurance, accountant fees8. Gambling, toys and hobbies

OK big spender, let’s hear it! In which category do you spend the most of your income? (rent, study etc. not included)

Research from the University of Cambridge

Money buys happiness when spending fits our personality.

Dr. David Stillwell (Big data lecturer) Psychologist Sandra Matz Joe Gladstone

Research from the University of Cambridge

77.000 bank transactions 625 participants 5 personality traits 6 months 59 spending categories their responses were being matched anonymously

for research purposes with their bank transaction data.

Someone who scored highly for "Agreeableness" tended to spend more on charities and pets, and a greater correlation between those two variables would be predictive of increased happiness.

  Mr Gladstone said: “Historically, studies had found a weak relationship between money and overall wellbeing. Our study breaks new ground by mining actual bank-transaction data and demonstrating that spending can increase our happiness when it is spent on goods and services that fit our personalities and so meet our psychological needs.”

“People who spent more money on purchases which matched their personality were found to be happier, with spending in the right way mattering more than total income or spending.”

These outcomes are interesting for:

Internet businesses using search-based recommendation engines. Companies can use this information to recommend products and

services that don’t just increase clicks, but will actually improve the wellbeing of their customers.

Companies to forge better relationships with customers based on what makes them happier.

Just remember, the correct answer is always:

!

http://journals.sagepub.com/doi/pdf/10.1177/0956797616635200

https://www.cam.ac.uk/research/news/spending-for-smiles-money-can-buy-happiness-after-all

Questions & answers Overview of your schedule (and brands) every Monday. You keep the brands that you have been working on. The length of the motivation must be max. 100 words. Remember to mention the right source of the visuals.

Wrong: “Pinterest”Correct: https://nl.pinterest.com/ikeanederland/

For each brand a maximum of 5 of the same biases. For example the cost of zero and aesthetic-usability effect.

ARPA12 launch date 12-12-17

But first, let me take a selfie…

It’s all about biases

Most frequent used biases: Conceptual metaphor Sympathie Cost of Zero Social Proof

Rarely used biases: Ego depletion Gambler’s Fallacy Backfire Effect Confirmation Conservatism of Regressive Peak-End rule Functional Fixedness Priming

Triggers online Only Sabine and Justin use these checkboxes

Content component Sometimes Facebook/Productpage/Webpage Combined with Visual/Photo