🚀 This Week's Hacks: Specificity triggers +17.7% purchases 💰

#1. Specificity leads to 17.7% higher purchase intent

Research suggests that specific discounts - like 5.2% - can trigger urgency more effectively than rounded numbers - like 5%.

In fact, when a group of participants in a study were shown a precise discount (rather than rounded) for a water bottle, they were 17.7% more likely to complete the purchase.

Instead of offering a standard 9% discount, test out an 8.8% discount. Customers perceive these specific discounts as temporary, prompting quicker purchases.

Source: Jorge Pena-Marin and Rajesh Bhargave

#2: Ask customers before they churn

Gain crucial insights into customer behavior and preferences by offering surveys. This direct feedback can help you understand why customers may churn or not repurchase, allowing you to address issues, improve your product or service, and boost retention.

• Segment your customer base (e.g., by purchase date, products bought) and send targeted surveys.

• Attach an incentive to the survey to boost completion rates. Think a 20% discount on the next purchase in exchange for completing the survey.

Source: Nik Sharma

#3. Put all the focus on your best trait

Highlight one Unique Value Proposition (UVP) on your landing page that stands out to your customer base. This plays into the psychological principle known as the Focusing Illusion: The first piece of information heavily influences decision-making.

Like a sustainable company testing landing page versions, with each highlighting one of the following:

• eco-friendly materials

• affordable pricing

• stylish designs

Source: David A. Schkade and Daniel Kahneman

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Required Reading:

15 Proven Ways to Crack the B2B Lead Generation Code and Boost Your Business

We know a thing or two about transforming prospects into valuable business relationships. So to help you do the same, we’ve written this guide to provide you with 15 proven strategies for B2B lead generation, including real-life examples of each in action.