He reviewed 74 marketing science papers so you don’t have to
Oct 2, 2023
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Marketing expert Thomas McKinlay shares 3 practical marketing insights from recent research papers, including the power of limiting positive claims, increasing sales through trust and transparency, and the importance of using precise measurement units. Topics discussed include showcasing costs, labor illusion, descriptive color names, branded ingredients, and balancing precision with customer understanding.
Limiting product descriptions to three benefits increases persuasiveness by 10.4% compared to more claims.
Showing product costs builds trust and can increase sales by 22%. Customers appreciate transparency and are willing to pay more.
Deep dives
Stick to Three Benefits for More Persuasive Marketing
Research shows that when marketers describe their product or service, they should focus on listing just three benefits. Going beyond three positive claims can make the message less persuasive. For example, four positive claims on a product's packaging were 10% less persuasive than three claims. Researchers found that three benefits made claims 10.4% more persuasive than other variants.
Be Transparent About Costs to Build Trust
A study suggests that marketers should showcase the costs behind their products to build trust and increase sales. Being transparent and showing and explaining the product costs, such as materials, salaries, and research and development expenses, can significantly impact sales. The study found that once costs were shown on a $115 wallet sold online, sales increased by 22%. Research also shows that customers appreciate transparency and are willing to pay more for a product when they see its costs.
The Power of Simple Language and Descriptive Terms
Using simple language and descriptive terms can greatly impact customer perception and purchasing behavior. Research suggests that sticking to concrete phrases and avoiding complex, technical words makes a product appear better quality and more affordable. In addition, using descriptive color names and referencing branded ingredients can increase product attractiveness and demand. The study also found that using smaller units of measurement, such as 52 weeks instead of one year, adds credibility and trust to the product description.
My guest today has read over 1,200 pages of marketing research papers and summarised this knowledge into 3 practical marketing insights every marketer should know. He promises that these insights contain no opinions, no sketchy data, and definitely no fluff. The insights he’ll share are from papers recently published, so it won’t be the same old wisdom you’ve heard before. Plus, he’s fairly certain at least one of them will boost your profits. Join Thomas McKinlay of Ariyh fame and I as we share the 3 marketing insights every marketer should know.