It’s a cultural trope to “want what you can’t have,” but it’s also a principle based in decades of psychological research. That principle, scarcity, is incredibly powerful in marketing, persuasion, and conversion optimization—when done right.Keep reading »
Crowdfunding is painful.
With standard conversions, people receive value immediately. They buy your product. Then they receive your product. Done and done.
That’s not crowdfunding. With crowdfunding, the end product doesn’t even exist. You need to convince people to give you money for something that they won’t receive for months (and possibly longer).
Sure, you can use perks and rewards to entice people. But the majority of donations come from people’s generosity. How to get more funding? What are crowdfunding best practices?
I scoured the academic research on crowdfunding, philanthropy, and helping behavior to understand when and why people donate money (and how you can use those principles for a successful crowdfunding campaign).Keep reading »
You don’t purchase products. You buy success, status, a lifestyle. Your purchases furthermore, are driven by subconscious perceptions and emotions.
Semiotics, the interpretation of signs and symbols, helps decipher those subconscious elements. While it has plenty of lofty, academic associations, it has practical implications for marketers, too.Keep reading »
A few years ago, I launched a kind of “Groupon deal for musicians.” I gave away $1,250 worth of products, including recording time, iTunes distribution, and a guitar-string endorsement deal for just $69. The deal was good for only 100 hours, and there were just 5,000 packages available.
I had invested a lot into the campaign. Not only had I spent four months putting it together, but I had also put a significant amount of my personal savings into ensuring that this campaign was everywhere during those 100 hours.Keep reading »
If you’ve ever worked at an agency, you know the value of client education. Results aren’t persuasive if reports seem like a jumble of acronyms. Trend lines aren’t impressive if they track metrics that appear distant from business goals.
It’s the early 1980s. You’re in charge of a fledgling ESPN, and you have two choices:
- Add more college basketball—you’re highest-rated programming—to the schedule.
- Stick with the skiing and billiards you’ve aired for years (because you couldn’t afford anything else).
Which creates the more profitable programming bundle?Keep reading »
Neuromarketing assesses how our brain reacts to stimuli, not simply what we self-report in qualitative surveys. These are truths that our impulses write onto MRIs. Sometimes, as several studies below illustrate, those two systems—the conscious and subconscious—offer conflicting interpretations. Keep reading »