The Anchoring Effect

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"𝘚𝘰𝘶𝘵𝘩𝘦𝘯𝘥: 𝘕𝘰𝘵 𝘲𝘶𝘪𝘵𝘦 𝘵𝘩𝘦 𝘔𝘢𝘭𝘥𝘪𝘷𝘦𝘴 𝘣𝘶𝘵 𝘸𝘢𝘳𝘮𝘦𝘳 𝘵𝘩𝘢𝘯 𝘎𝘳𝘪𝘮𝘴𝘣𝘺."

Why does this line work?

Well, it's due to a great use of the 𝐚𝐧𝐜𝐡𝐨𝐫𝐢𝐧𝐠 𝐞𝐟𝐟𝐞𝐜𝐭.
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Anchoring = "𝘝𝘢𝘭𝘶𝘦 𝘱𝘦𝘳𝘤𝘦𝘱𝘵𝘪𝘰𝘯 𝘥𝘦𝘱𝘦𝘯𝘥𝘴 𝘰𝘯 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘢𝘯𝘤𝘩𝘰𝘳 𝘪𝘵 𝘢𝘨𝘢𝘪𝘯𝘴𝘵."
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In a 2022 study¹, 404 shoppers tested how reference prices affect perceived value.
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When Ben & Jerry’s ($3.99 for 16oz) was shown next to Walmart’s cheaper $1.99 tub, only 27% rated Ben & Jerry's as great value.
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But when paired with a costlier $4.99 Halo Top, the number rose to 41%, a 52% increase in perceived value for Ben & Jerry's.
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The value judgement didn’t change due to the product itself, but the comparison point.
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The point is, the weather in Southend looks better when compared to Grimsby.
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And that point alone can be enough to make for a great ad.

Big thanks to today's sponsors, GWI.

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Hope you enjoyed today's newsletter folks. — Phill​