Growth Hacks:
A Discount Trick That Caused 200% More in Sales!
The Psychologist reported about an experiment in a retail store in the USA.
3 different prices were A/B tested.
Control price: $24.95
Variant #1: 20% discount For 3 Days
Variant #2: 30% Discount Today, 20% Discount Tomorrow, 10% Discount On Day 3
The first offer of a 20% discount for 3 days caused a 70% increase in sales. However, the second offer of a tapering discount resulted in a staggering 200% increase in sales!
The rationale was that customers were keen to avoid losing out on the discount so were prompted into taking action and made an immediate decision to buy.
Source: https://www.markinblog.com/sales-techniques
Get Big Media Mentions Through Smaller Ones!
The biggest media companies are far too busy and get pitched far too often.
They often get their stories from smaller outlets and quote them.
Instead, of pitching writers for big media companies, track who they’re linking out to every week (or scrape external links) & pitch straight to the smaller source.
Source: 500startups.com
Use Price Anchoring to Make Your Prices Seem Better
Expensive items seem more reasonable when compared to high ticket items.
Source: https://www.rci.rutgers.edu/~gbc/fragile.pdf
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