How three words boosted sales by 50% | Nudge Newsletter
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Nudge Newsletter
I spend 18 hours each week turning marketing psychology into readable newsletters.
Give Bonuses Upfront? Read online What would happen if bonuses were paid upfront? Almost every company pays out bonuses AFTER targets are hit. But why don’t companies pay bonuses BEFORE and withdraw the money if targets are missed? I accept that it could be a logistical challenge, but the potential benefits are huge. On page 71 of The Influential Mind, Tali Sharot¹ shares an eye-opening study. One group of teachers were given $4,000 and told that the money would be taken away if their...
Never Lead With Negativity Read online Last week, a student enrolled in the Nudge Unit asked me: Should I show my negative reviews? The answer is yes but with a heavy caveat. Studies show that consumers prefer a 4.8-star rating to a 5-star rating¹. The 4.8 rating feels more believable and trustworthy. So, you'll need to include a few negative reviews. In fact, an analysis of New York Times book reviews found that negative reviews increased sales by 45%² for unknown authors. A poorly reviewed...
Distinct But Not Different Read online Last week, I gave a keynote speech in Reykjavík for the ÍMARK conference. Want me to speak at your event? Email me (I'll give you mates' rates) I spoke about standing out and why marketers are obsessed with differentiation. It all starts with the Von Restorff effect. Distinct images stick in our minds 👇 Distinct items stand out in our minds. Not only are distinct things 30x¹ more memorable, they bend our perception. That's why the heavy metal band Party...