The running experiments as Ariely did with his students. Offer your customers different combinations of pricing options and track the effect on sales. consumer choice isnt always obvious. Even offering an option that nobody wants can sometimes have a positive impact on your revenue. Avoid Option Overload But in case youre now tempted to start cramming in lots of new subscription options be careful. Option overload can put a real damper on sales. Have you ever spent ten minutes standing in the supermarket aisle gazing at different types of jam and finding yourself unable to pick one.
Don’t worry your not alone
In fact you were suffering from a common complaint option overload. You had too many choices and you couldnt perceive the difference between Israel Business Email List them so you did nothing. Researchers have studied this very phenomenon believe it or not. They gave shoppers different flavors of jam to sample and found that only of them went on to make a purchase. But when they reduced the number of flavors to six suddenly the purchase rate jumped to . So if you want your customers to make a decision offer three or four clear options not nine or ten. Advertisement . Profit From Numerical Quirks We all know that.
Seems significantly cheaper than even
Though its only a onecent difference. But there are more numerical quirks to be aware of. Here well take it one step further and look at some less Saudi Arabia Phone Number wellknown ways to set your prices based on the way our brains process numbers. The Rule of Nine First of all does that . trick really work Yes it does. Researchers at MIT and University of Chicago had a national mailorder company mail different versions of their clothing catalog to randomly chosen customers. In one the prices all ended in nine and in the other two the.
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