People love routines. Of course, we like to think that we all make well-considered choices. But as a matter of fact, most of the time we are slaves to our own habits. This makes psychological sense, because why spend your precious time deliberating on your options and getting distracted by unnecessary details, if you can also apply a working recipe and go straight for the best result?
With neuromarketing, whether something is winning or losing conversions for you boils down to the absolute details. As specified in the overview article we recently published, some small changes can lead to big differences. Whether it’s a small change in pricing, the way you position your ads or the way you frame social proof, it all boils down to the details. And this new finding is no different than the others.
“Majority of stock sold!”, “Nearly sold out!” Are you getting nervous by seeing these kind of phrases in advertisements? Do you have the feeling that you have to buy this product? Personally, when I need a product and see this kind of advertisements I want to buy the product immediately. I don't want to run the risk missing out on this fantastic offer. As a marketer I know a lot about the influencing power of advertisements, but why do I still fall for these scarcity appeals?
With our busy lives nowadays, we can’t always attend every meeting, birthday or SALE that we want to attend. So occasionally we miss out on deals and special offers; that’s life. But do we regret this, and more importantly, does this affect our decision-making?
The fee-effect: Increase sales by offering a product promotion for a symbolic price instead of for free
So people love free stuff. Always have, always will. Especially the Dutchies. We crave for free stuff, but that’s another discussion. But is free always the best option?
If you’re a marketer or entrepreneur and you tend to give away promotion products for free in order to generate more sales or bind customers: keep reading. All this time you have been doing it completely wrong.