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 w…
Thomas McKinlay
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). …
Thomas McKinlay
People are more likely to choose a product (+13% in an experiment) and willing to pay more (+21%) when it’s labeled as crowdfunded.
Thomas McKinlay
Firms with a CMO in 2000-2011 performed 15% better financially.
Thomas McKinlay
Feminine brand names (e.g. Nivea) tend to perform better than masculine ones. 55% of the top-ranked brands had feminine names (36% were masculine).
Thomas McKinlay
Men respond positively to red, and this applies to prices too. In one experiment, they judged prices written in red as being 66% cheaper. Women are una…
Thomas McKinlay
Gifts to customers without strings attached (e.g. spend at least $50) and without a hidden agenda (e.g. to convince someone to buy) increase word of mo…
Thomas McKinlay
Attract many relevant new customers to your promotion by letting them choose how much they want to pay (including $0). The technique sits between free …
Thomas McKinlay
People prefer flat-rate plans over pay-per-use plans, even if that means they overpay. Both B2C and B2B customers have this bias.
Thomas McKinlay
Advertise and showcase hedonic products (e.g. a nice suit, scented soap) using video - rather than still images - to increase how likely people are to …
Thomas McKinlay
When a product is promoted using scarcity (e.g. “only 5 available, limited editions) people who miss it get angry and may switch to competitors.
Thomas McKinlay
Make both customers and workers feel that there is a person on the other side of the transaction. You’ll increase satisfaction, sales, and product qual…
Thomas McKinlay