Psychology

In the end you’re selling to the brain of your customer. Understand how it works , how to best get your message across and get people to take action.

How Creating a Sense of Urgency Helped Me Increase Sales By 332%

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.

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burger king bundle

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?

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How to Get Better Results with Online Learning

Learning stuff online is the new standard for learning. It’s not just “how to tie a tie” how-to videos, it’s also learning hard skills. In fact, according to a recent report 59% of employed data scientists learned skills on their own or via a MOOC.

But how can we take better advantage of online learning? What’s the most efficient way to learn as much info as quickly as you can? Keep reading »

Testing the Presenter’s Paradox – Do People Really Average (Not Sum) Object Values? [Original Research]

This study examines people’s tendencies to average, not sum, values of items in a list or presented as package deals.

We provide 3 perspectives: 1. we outline what products and lists two academic studies have tested, 2. we duplicate a product and list test with a larger sample size to try and replicate the findings, and 3. we then apply the test to six new products, three experiential products (travel package, hotel night, massage) and three physical products (camera, printer, kitchen mixer).

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