Amazon keeps changing people’s expectations, and it’s not all about free fast shipping anymore. Shoppers are now most dissatisfied with the return and refund handling of non-Amazon retailers.
Customers abandon products in their online shopping carts all the time. Wait 1-3 days to remind them and boost sales. If you remind them too early your message backfires.
To increase signups of early users to a new platform (by ~20% in one experiment), tell them about your expected future growth (e.g. "we expect 10,000 people to join this year").
To be most persuasive, use 3 positive claims at once in your message (e.g. ad, presentation). They are sufficient to show a pattern, but not enough to make people skeptical.
Giving sales team incentives based on activity targets (e.g. calls made, demos given) - and not only commissions on sales results - boosted sales by 6-9%.
High-quality free samples boost demand and allow you to increase prices and revenue (by 7.7% in this analysis). Make sure to limit their usage, or their effect backfires.
Sales were up to 84% higher on a UK retailer’s website when the first review showed had five stars (vs one star), independent of the product’s average rating.
People overvalue their own creations. In an experiment, people liked an IKEA storage box 52% more and were willing to pay 63% more when they assembled it themselves.
When offering a discounted price (e.g. $16.75), keep the price ending consistent with the original price (e.g. $26.75, not $26.99). The discount will work better and more people will buy.
If a product is priced at above $100, use an 'amount off' discount (e.g. $20 off). If it’s priced at below $100 use a 'percentage off' (e.g. 20% off). People will be more likely to buy.
People are more likely to choose a product (+13% in an experiment) and willing to pay more (+21%) when it’s labeled as crowdfunded.
Firms with a CMO in 2000-2011 performed 15% better financially.
