Privacy policy notices hurt trust - instead of increasing it - when they are excessively formal and legal-sounding. Lower trust reduces sales.
It’s the day! Ariyh’s Science-based Playbook of Pricing & Promotions is here. Today’s insight is a special extract from the Playbook: When to use just-below pricing ($.99 endings).
People are more attracted to offers that seem to be given to them by mistake. Business news fans were 149% more likely to take an offer for The Economist if it wasn’t meant for them.
Product attitudes and sales increase when you show a hand touching your product from the viewer’s point of view (e.g. photo of a hand holding a coffee, or a VR ‘hand’ interacting with a phone).
People feel manipulated by clickbait headlines, so they like the content less and are 31.2% - 48% less likely to share it.
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.
