🚀 This Week's Hacks: +70% CVR when you inspire...uncertainty?

#1. Get 20.6% more positive social proof

Offer customers a small incentive (discount, contest entry, etc.) in exchange for leaving a review. This can significantly boost the quantity and positivity of reviews, which lands you valuable social proof you can use to drive conversions.

One study showed that offering an incentive valued for as little as $0.25 led to 20.6% more positive reviews.

Source: Thomas McKinlay

#2: Use AI to power your market research

The planning behind a market research project can be...tedious, to say the least.

Luckily, AI is here to help.

Use an AI chatbot to quickly generate inclusion criteria for your target audience when starting a new market research project.

Just make sure to do this after composing research questions and methods for answering them.

A sample prompt from Maria Rosala: "So that I recruit the right people for my interviews, help me create some inclusion criteria. What characteristics or behaviors should I recruit for?"

Source: Maria Rosala

#3. Create uncertainty to drive 70% CVR

Research shows that people can be more motivated when the rewards are unknown. It's called the Motivating Uncertainty Effect.

In one study, participants were tasked with drinking water from a pitcher. One group received a guaranteed $2, while another group had a coin toss to win either $1 or $2. The result? 70% of the coin toss group completed the task, compared to just 43% of the guaranteed reward group.

Use this in your loyalty programs by varying reward timing (within a reasonable range).

Example: Instead of always rewarding after the 5th purchase, mix it up between the 3rd and 7th purchase.

Source: The Decision Lab

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