Growth Insights #022

How selling experiences boosts reviews, AI’s impact on retail, and questions to refine your messaging.

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Tip: Get more reviews (and sales) by framing your product as an experience

Source: Growth Bites

Reviews provide strong social proof and lead to more sales. Get more reviews by framing your product as an experience.

Reviews are good for business and, in general, experiential products receive more reviews than non-experiential products. For example, of Amazon’s top 30 most reviewed products, 28 are mostly experiential (think video games, movies, etc.). This is probably because they create more of a connection with the customer. And you can benefit from this by framing your products as experiences. In fact, in a 2019 study, this approach resulted in 8-12% more reviews. It should be noted that the study looked at physical products on Amazon, but it's reasonable to assume that the effect would take place on other marketplaces and with other kinds of products. So, while it's important to address performance, features, and so forth, consider focusing your promotional content on the feeling of using the product. That means emotional responses, social moments, and the narrative of reaching one's goal by using the product. The idea is to get customers to imagine what it's like to use the product themselves. But remember that the boost in reviews can cut both ways — make sure your product is solid before framing it this way.

AI in Retail knows what you want before you do

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What if you had to trade a bag of wheat for a pair of shoes every time you needed something new? That’s how retail started—simple bartering, where goods were exchanged based on need. Then came money, making things easier and giving rise to the first real markets in ancient Rome and Greece.

What if we still live like that and you had to buy a new laptop—what would you have to offer in return? Maybe your high-end smartphone, a couple of premium gaming consoles, or a stack of designer sneakers. Okay, we can’t even imagine this. Luckily, we moved past bartering long ago.

Fast forward to the 1800s, and department stores changed everything, putting a variety of products under one roof. The 1900s brought shopping malls—not just places to buy things, but destinations for socializing and entertainment. Then the internet flipped the script, making it possible to shop from anywhere, anytime.

Now, retail is everywhere—on our phones and laptops, in social media feeds, and with AI that knows what we want before we do. This means that each stage brought its own revolution, and now, we stand at the threshold of another. And shopping is definitely not just about buying things anymore; but experiences, personalization, and blending online and offline worlds. AI is at the center of it all, changing how we find, choose, and buy products.

The goal has always been to make shopping as seamless as possible. The goal is same now.

AI is changing retail & the numbers show it

Read the full article below👇

5 questions for better messaging and personas


Source: Demand Curve

Imagine you own a mountainside rental property and want to attract more applicants. Which of these statements do you find more useful when writing the listing?

  1. George is a single 32-year-old software engineer in Philadelphia. He has a bachelor’s degree, earns $120k/year, and lives in a one-bedroom apartment with his pet dog.

  2. George is feeling cooped up working from his downtown apartment—with very little green space for his energetic border collie.

We’re guessing #2.  

Knowing that, you would emphasize that your property is dog-friendly, has a yard, and has many nearby nature trails and excellent Wi-Fi.

Then why do we all build customer personas that sound like #1? Focused on demographic details like age, education, and profession.

It’s not that this info is irrelevant—but you’ll attract more of your ideal customers when you focus your messaging around your customers’ frustrations and motivations. Not their demographic and firmographic details.

Otherwise, you get this:

 When developing personas, prioritize answering these questions:

  • What are prospects stressed about?

  • Where are they looking for solutions?

  • What solutions are they trying, and what are their shortcomings?

  • How do prospects describe success?

  • What are they nervous about?

These questions follow the jobs-to-be-done (JTBD) framework, a customer-centred approach where companies focus on meeting users’ real-life needs, aka jobs. Use it to pinpoint where and how your product provides the most value.

Thank you for reading! ✌️

We look forward to sharing more with you next week. Stay tuned!

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