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Simplify your pricing to increase sales

Source: Growth Bites

Generally speaking, the simpler your pricing is, the better your product will be perceived. To get more sales, simplify both the price and how it's presented.

People like simple prices — even if the price is higher. In fact, in one study, 65.9% of participants chose a simply-priced product over a cheaper product that had more complex pricing. It seems that consumers see simpler prices as fairer and lower. So make your pricing as simple as you can — at least as simple as your competitors'. Consider removing pricing components, as flat-rate, all-inclusive prices are far simpler. But even if you opt for something like usage-based pricing, you can still simplify in small ways. Try using rounded numbers in your prices, do the calculations so customers don't have to, be very clear about charges (no fine print), and so on.

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GrowthTips: 5 biggest mistakes tech founders make in the pre-launch stage

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In the past few years, I’ve had the privilege to work with some amazing founders and their teams and helped them launch their products successfully. I’ve also consulted over 100 founders on their product launch journey throughout each stage (pre-launch, launch and post-launch).

All of them had the inclination of a few (or all) of the mentioned below mistakes:

1. Over-relying on your own experience as the basis of the business idea.

2. Overdeveloping without focus.

3. Entering saturated markets with no UVP.

4. Putting off marketing activities until the product is “done”.

5. Doing the wrong kind of marketing.

And while it’s clear to me why these mistakes are made (usually, it all boils down to the human condition), knowing what to do instead will put you in a powerful position.
So, read the blog below to learn how to overcome them. 👇

Use shorter ad copy for retargeting campaigns

Source: Demand Curve

Here’s a quick change that could increase Facebook retargeting conversions:

Shorten your ad copy.

Sounds ridiculously simple, and it is. But many marketers retarget with long-form ad copy—and it might be bringing down conversion.

‍Brainlabs ran a series of ad copy split tests for a fashion retailer. Short ad copy—copy that fit on one line on Facebook—consistently drove more clicks for retargeted users than long-form copy (64% vs. 36%).

Compare that to prospecting campaigns, where clicks from short-form and long-form copy were equally split.

The theory behind this difference:

• Retargeted users are often already aware of your brand and product. They’re higher intent and don’t need as much education, so they react better to shorter messages.

• New prospects need more education—so longer ad copy might be necessary.

Consider testing short- vs. long-form copy in a retargeting campaign to see if you get a similar conversion improvement.

Thank you for reading! ✌️

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

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