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
Does your brand partner with influencers?
If so, you could be leaving money on the table if you don’t manage those relationships properly.
Better influencer management = better ROI for your brand.
Impact.com created the definitive guide to influencer management
And in this ebook, they help you find out the best approach to optimize campaigns with your specific type (or types) of influencers.
• A breakdown of the four influencer types and why you can’t manage them the same way
• Are working with celebrities really worth the price?
• How to make a micro-influencer program scale and work for you
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.
Brainy Opportunity 🤩
Sponsored by Wynter
Are you a smart marketing exec? Would you love to make a little extra moola without the hassle of starting a full-blown side hustle? You’re in luck.
Wynter, a B2B message testing platform, is currently looking for marketing executives to join their research panel.
Participate in messaging research and get paid for your feedback and comments; $45-$100 depending on the survey length for literally minutes of effort (takes 2-7-mins on average).
Super low-key commitment.
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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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?
There are a few ways I can help:
- Get explosive clarity about what works with buyers by learning how to conduct 1:1 Clarity Calls
- Learn how to mine online reviews from real buyers to generate ideas and copy that converts
- Book a 1:1 strategy call with Katelyn and get the answers you need to get unstuck and move forward with confidence
- Apply to sponsor an upcoming issue of Why We Buy (next opening in March)
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