Extremely high average product ratings, between 4.5 and 5 stars, make people skeptical and generate lower sales than ratings between 4 and 4.5 stars.
For prices with 4 figures or more, in any currency, repeat the last 3 digits and use a low number (e.g. $4,111, not $3,888). The price will feel more discounted.
Startups that continuously A/B test online receive 10% more web page visits in the first months. The boost compounds to a higher performance of 30% to 100% after a year
Post ‘virtue’ content (e.g. educational) on social media in the morning for higher engagement. Post ‘vice’ content (e.g. entertainment, memes, shopping) towards the evening.
Rounded prices (e.g. $200) are better for hedonic products (e.g. decorative candle), non-rounded prices (e.g. $217) are better for utilitarian products (e.g. insect-repellent candle)
Publicly praise competitors (e.g. on social media) to improve attitudes towards your brand. People will be more likely to buy from you.
After 8 similar questions, people’s answers start to change and differ more from reality. More questions worsen rather than improve the quality of responses.
Very big discounts (60% off or more) reduced sales on Groupon instead of increasing them. Avoid heavy discounts when it’s difficult to verify your product’s quality before buying it.
Exceptionally strong warranties (e.g. 10 year warranty for a sweater) are a powerful way to signal high quality for unfamiliar brands and boost purchase intentions.
The space-to-product ratio effect: use more empty space between products on display to increase their perceived value and beauty. In one of the experiments sales increased 98%.
If your product is hedonic (e.g. fashion, high-end electronics), promoted posts from small influencers (10k to 100k followers) drive more sales than those of large ones (>1m followers).
Large referral rewards (e.g. Get $50 if you invite a friend) boost the referral rate (+750% in one experiment) but lower the average profitability of newly referred customers (-48%).
