Brands’ pricing shouldn’t be bound by their categories
Richard ShottonConsumers don’t perceive price in absolute terms but relative to similar products, so if you want to change your pricing model you just have to change your comparison set.
Don’t applaud ads for their craft but for their effectiveness
Richard ShottonSometimes a crude, simple message gets the job done better than a carefully crafted masterpiece, yet the latter always get the plaudits. It’s time for that to change.
Customer experience is as much about perception as reality
Richard ShottonIncreasing satisfaction doesn’t always require costly service improvements – sometimes shifting expectations is equally effective for much less investment.
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Marketers are missing out because of a fear of being different
Richard ShottonHumans often avoid employing effective tactics just because they’re scared to look silly, and marketers’ aversion to rhyming ads is one prominent example.
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The ‘safest’ ads are at greatest risk of going unnoticed
Richard ShottonMarketers, like all humans, believe everyone is as interested in their work as they are, leading to ads that fall at the first hurdle by taking it for granted that they will be noticed.
If you want to earn consumers’ love, flaunt your flaws
Richard ShottonMarketers need to be confident enough to turn challenges to their advantage, rather than airbrushing out their imperfections and claiming extravagant benefits.
Aim for average and you’ll serve no one well
Richard ShottonBehavioural insights show targeting the average consumer can backfire among key groups, even it succeeds among the majority, which is an argument for in-depth research on individual segments.
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Uncertain rewards are the answer to enhancing loyalty schemes
Richard ShottonContrary to common belief, consumers are more likely to take action if the incentive is of uncertain value, offering a way to make loyalty schemes both cheaper and more effective.
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Don’t spread yourself thin, focus on what makes your brand memorable
Richard ShottonAccording to the peak-end rule, events are remembered for their most remarkable and final moments, so to stand out brands should concentrate on improving these aspects of the customer experience.
Consumers trust precise prices mean a fairer deal
Richard ShottonThe fashionable belief that ’round pound’ pricing makes things simpler for consumers is contradicted by all the behavioural evidence, which shows consumers see precise prices as closer to the true value.