A paid subscription that gives special benefits to members (e.g. Amazon Prime’s free shipping) increased spending at a retailer by more than 3x. Two-thirds of the boost was psychologically-driven.
Dogs make people more attracted to products focused on gains (e.g. fun experiences, risky gambles, meeting new people). Cats increase sales of products that avoid losses (e.g. safety, health).
An analysis of views of 27,000 TV ads from 3,200 brands found a strong correlation between ad energy and the probability of viewing it.
When hotels started to consistently respond to reviews on TripAdvisor, they received 12% more reviews and their star ratings increased 0.12.
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
