Stay One Step Ahead How to Monetize
Extract the Principles
There is a lot of valuable information out there, but it is often expensive and time-consuming to find and extract its essence.
That's why those who do can create a sustainable business overnight.
They study, extract the essence and share it with simple words and examples. Here's a good example:
“Prices are one of the most profitable marketing levers around.
You probably know the price anchor and the fact that $ 2.99 seems cheaper than $ 3. But these discoveries date back more than 30 years.
Since then, marketing scientists have discovered countless new ways to make prices and promotions more attractive and profitable. For example:
- Fixed prices sell more and for longer (Kienzler et al., 2021)
- "$ 0" converts better than "Free" (Koo & Suk, 2019)
- "Choose your price" increases sales (Wang et al., 2021) "
Source: Thomas McKinlay The Science-based Playbook of Pricing & Promotions (paid $ 35)
Show a Hand Touching Your Product
The way you display your product can have a direct impact on your product sales. Scientific research shows that there is a significant difference.
“The attitude towards the product and the sales increase
when showing a hand touching the product
from the viewer's point of view. "
- A hand touching a product in an image, video or VR experience affects:
- how much they will appreciate the product
- how likely they will be to buy it
- how much they will be willing to pay for it
For the effect to work, the hand:
- It must be seen as if it were that of the observer, giving the feeling that it is his hand
- He must touch the product, possibly in a relevant way (for example, feel the texture of a shirt or hold it in his hand, do not punch it)
- It doesn't have to look like the observer's hand. It can be a real hand of any complexion or gender, and it can also be a digital recreation of a hand (eg a stylized hand, the "hand" of an alien in a video game).
Marco Cappellato
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