There are Free Lunches Statement of Intentions

There are Free Lunches: Behavioral Clues to Live Happy in the Economic World is a blog that intends to present updated and relevant information about the "hidden" and only recently uncovered dimensions of the economic science: the behavioral factors. With this blog we intend to promote in Europe and in the rest of the World, the top research articles and perspectives on behavioral economics, decision making, consumer behavior, and general behavioral science. We aim to be followed by journalists, academics, managers, civil servants, and everyone who wishes to improve their daily interaction with the economic world and consequently, their lives' happiness.

Monday, 19 March 2012

O2 #2 Facebook: The Psychology of Social Media? (via Psychology Today)

Wherever you get your news, from television, print media or the Internet, there are lots of stories about how ‘social media' is changing our behavior as consumers. The leader in this media segment is Facebook.

A unique characteristic of consumer behavior on Facebook is ‘liking' a page by clicking on the thumbs-up symbol. Of those who visit Facebook, 43% have ‘liked' a page posted by a brand or company. This has become commonplace consumer behavior. Consider that Coca-Cola has 39 million ‘likes,' Disney 33 million, and Starbucks has 28 million.

But what does it mean to ‘like' a brand on Facebook? What motivates consumers to click on the ‘like' icon? And why is this important to the brand marketers?

Want to know more? Go to Peter Noel Murray blog at Psychology Today: PsySocialMedia

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