The Neuroscience of BD
Activate your prospect's Oxytocin and Dopamine for growth. Trust me!
Trust Building Blocks:
Purpose: Align with customer goals.
Empathy: Understand, fulfill needs.
Truth: Consistently deliver promises.
Trust = Purpose + Empathy + Truth
Purpose, empathy, truth activate brain chemicals of oxytocin, dopamine, serotonin that drive growth.
2014 study in the Journal of Neuroscience discovered amygdala subconsciously determines trust. Limbic system that controls the "fight or flight" response and inspires people to act on their emotions.
2008 University of Zurich study implemented a Trust Game study discovered that participants produced oxytocin when they felt trusted. When participants were shown increased levels of trust, their brains produced even more oxytocin. Most significant was the finding that the rise in oxytocin levels resulted in participants' behavior being deemed more trustworthy.
Increased oxytocin levels also triggers the creation of Serotonin that dampens the amygdala's "fight or flight" anxiety center of the brain.
Increased trust yields increased feelings of comfort and affection.
Another study found that if people met certain conditions like delivering a project on time or keeping commitments, the brain's Ventral Tegmental Area (VTA) reward centers sent dopamine to the limbic system (the limbic system contains the amygdala). Dopamine motivates or propels people toward a particular person or Purpose.
An Accenture study found that 63% of consumers prefer a Purpose-led brand. Also, Deloitte research discovered that high-purpose brands grow four times faster.
The Orbital Frontal Cortex (OFC) of the brain assigns a value based on goals and rewards. It dictates customer behavior between the customer's actual state and their desired state.
Aligning the corporate purpose and the customer's neurologically encoded "purpose" is both a biological and business imperative.
Experiments also found that Empathy was directly related to Oxcytocin levels and that changes in Oxytocin predicted feelings of empathy.
• Oxytocin increases customer feelings of affection for your brand
• Oxytocin increases empathy by understanding customer needs
• Dopamine increases the drive toward a common purpose
Value is defined as a customer's measure of how much Purpose, Empathy, and Truth they receive from a corporation. .
Key Takeaway: Purpose, Empathy, Truth drive trust and corporate growth.
Tony Gray, BDP
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Learn more in the “Business Development Body of Knowledge (BD-BOK).”
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