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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
1 hr agoCommentShare
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
Jun 17CommentShare
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
Jun 15CommentShare
Firms with a CMO in 2000-2011 performed 15% better financially.
Thomas McKinlay
Jun 10CommentShare
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
Jun 8CommentShare
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
Jun 3CommentShare
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
Jun 1CommentShare
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
May 27CommentShare
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
May 25CommentShare
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
May 20CommentShare
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
May 18CommentShare
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
May 13Comment 2Share
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