Everyone on Twitter has advice on how to improve your marketing.
But who's looking out for the customer?
THREAD: Stop falling for these 10 marketing tricks.
But who's looking out for the customer?
THREAD: Stop falling for these 10 marketing tricks.
1/ The Decoy Price
A few items are listed next to each other.
Each product has a different price.
One is intentionally overpriced.
The overpriced item makes the lower-priced items look more appealing.
A few items are listed next to each other.
Each product has a different price.
One is intentionally overpriced.
The overpriced item makes the lower-priced items look more appealing.
2/ The Left Digit Effect
The first number we read is the left-most number.
This causes us to overvalue it psychologically.
$50.00 vs $50.01 feels the same.
$49.99 vs. $50.00 feels like a much bigger difference.
That's why most prices end in $0.99
The first number we read is the left-most number.
This causes us to overvalue it psychologically.
$50.00 vs $50.01 feels the same.
$49.99 vs. $50.00 feels like a much bigger difference.
That's why most prices end in $0.99
3/ Crossed Out Price
The higher price gets crossed out.
You feel like you're getting a deal.
But are you?
Most of the time, the "discounted" price IS the original price.
There was never a discount.
Travel sites do this often 👇
The higher price gets crossed out.
You feel like you're getting a deal.
But are you?
Most of the time, the "discounted" price IS the original price.
There was never a discount.
Travel sites do this often 👇
4/ Menu Price Formatting
Ever notice that some restaurants will remove dollar signs from the menu?
They do this to make it feel like you're not paying with real money.
This makes you spend more.
Ever notice that some restaurants will remove dollar signs from the menu?
They do this to make it feel like you're not paying with real money.
This makes you spend more.
5/ The Scarcity Principle
• Only 5 rooms left!
• While supplies last!
• Almost out of stock!
These claims are rarely true. Period.
• Only 5 rooms left!
• While supplies last!
• Almost out of stock!
These claims are rarely true. Period.
6/ Size Manipulation
Everyone has fallen for this one.
Oversized packaging:
• You buy a big bag of chips
• It turns out to be mostly air
Shrinking packaging over time:
• Less product
• Lower cost for brand
• You keep paying the same price
Everyone has fallen for this one.
Oversized packaging:
• You buy a big bag of chips
• It turns out to be mostly air
Shrinking packaging over time:
• Less product
• Lower cost for brand
• You keep paying the same price
7/ Sense of Urgency
• Limited time only!
• Time is running out!
• Your cart is expiring!
When you see this messaging, you can almost guarantee the opposite.
The longer you wait, the better deal you will get.
Abandon your cart to see what email discount the company sends.
• Limited time only!
• Time is running out!
• Your cart is expiring!
When you see this messaging, you can almost guarantee the opposite.
The longer you wait, the better deal you will get.
Abandon your cart to see what email discount the company sends.
8/ The Middle Shelf
The Holy Grail of supermarkets.
Brands pay top dollar to be in the regular line of sight.
Higher shelf space cost for them. 📈
Higher product cost for you. 💰
Always check the top and bottom shelves to compare prices.
The Holy Grail of supermarkets.
Brands pay top dollar to be in the regular line of sight.
Higher shelf space cost for them. 📈
Higher product cost for you. 💰
Always check the top and bottom shelves to compare prices.
9/ Flattering Mirrors
We've all been there.
Try clothes on in-store... looks great!
Try it on at home... wtf did I just buy?
Some clothing stores use different lighting and mirrors to make you look better.
We've all been there.
Try clothes on in-store... looks great!
Try it on at home... wtf did I just buy?
Some clothing stores use different lighting and mirrors to make you look better.
10/ Sales on Payday
Be mindful of any sales you see on payday.
Businesses know your buying intent is higher on this day.
That's one reason why "end of month" sales are so popular.
Be mindful of any sales you see on payday.
Businesses know your buying intent is higher on this day.
That's one reason why "end of month" sales are so popular.
That's it!
Hopefully, you feel more prepared to avoid these marketing tricks.
Which ones did I miss?
Hopefully, you feel more prepared to avoid these marketing tricks.
Which ones did I miss?
If you enjoyed this thread, give it a retweet to help others!
And follow me @joe_portsmouth
I write 1-2 threads weekly on sports, business, and life.
Here's another one you might like:
And follow me @joe_portsmouth
I write 1-2 threads weekly on sports, business, and life.
Here's another one you might like:
https://twitter.com/joe_portsmouth/status/1442504334030237711
Don't fall for these 10 marketing tricks:
1/ The Decoy Price
2/ The Left Digit Effect
3/ Crossed Out Price
4/ Menu Price Formatting
5/ The Scarcity Principle
6/ Size Manipulation
7/ Sense of Urgency
8/ The Middle Shelf
9/ Flattering Mirrors
10/ Sales on Payday
1/ The Decoy Price
2/ The Left Digit Effect
3/ Crossed Out Price
4/ Menu Price Formatting
5/ The Scarcity Principle
6/ Size Manipulation
7/ Sense of Urgency
8/ The Middle Shelf
9/ Flattering Mirrors
10/ Sales on Payday
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