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How changing one number grew Snickers sales by 38%

This post is sponsored by Impact.com

This Week’s Brainy Best At-A-Glance

Read time 2.5 minutes

🧠 Bite: How changing one number increased Snicker sales by 38%

🤓 Breakdown: How to price high-end offers

🤩 Opportunity: Get paid for your feedback

💡 Spotlight: Using FOMO to go viral

Brainy BITE 🧠

Specific numbers anchor our expectations.

If we see “$70 and up” $70 becomes the anchor price.

As Melina Palmer from The Brainy Business shares, Snickers grew sales by 38% simply by changing the anchor from ‘them’ to ‘18’.

SOURCE

Lesson: Use specific numbers to encourage people to spend more.

Brainy principle used: Price Anchoring

Tweet this brainy tip >

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Brainy Breakdown 🤓

How to price high-end offers

When a product costs $9.99 our lazy brain rounds down to $9 rather than up to $10. This is known as “charm pricing.”

Using charm pricing can help you to sell more everyday stuff, but it’s the wrong strategy when selling high-end items. 

When buying luxury products, buyers want the item to be perceived as expensive. That’s part of the appeal. 

Using round numbers and streeeeeeetching the number out by including the “.00”, like Louis Vuitton does with their handbags, positions their products as quality.

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Brainy Opportunity 🤩

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Brainy Spotlight 💡

Fear is a powerful motivator.

The best marketers know how to tap into our fears—like our fear of missing out (or FOMO)—while positioning their content as a solution to fight our fears.

This Twitter thread hook by Codie Sanchez is a great example.

The 1st line is a punch in the face. The 2nd is your lifeline.

How badly do you want to keep reading?

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Want a chance to get featured in front of 40,400+ marketers and founders for free? Tweet me with a brainy campaign you’ve implemented and what results it led to. You just might see yourself in the next issue of Brainy Best.

If you learned something useful, would you share the newsletter with a friend? You can even  earn cool prizes  👀 for referring new readers to Why We Buy.

If you have an idea for a future issue, send ’em my way. 

Until next time, happy selling. 

Pssssttt…

 

Wanna really get inside your buyer’s head?

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  3. Book a 1:1 strategy call with Katelyn and get the answers you need to get unstuck and move forward with confidence
  4. Apply to sponsor an upcoming issue of Why We Buy (next opening in March)

Thank you to our featured sponsors

Written By Katelyn

Katelyn Bourgoin is the CEO of Customer Camp, a 4X founder, and a cheese lover. She lives by a simple mantra: whoever gets closer to the customer wins.

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