57 | 🚨 Why Your Messaging Is Killing Your Pricing Power — Fix It NOW! 💸 (Deep Dive)

Host Neeta Bidwai breaks down the overlooked power of messaging in influencing customer perceptions of willingness to pay and value. 

Key topics include:

• The science behind effective messaging

• How emotions and psychology affect decision-making and willingness to pay

• Strategies for crafting messages that not only emphasize product benefits but also evoke emotional connections with customers

• The role of framing, laddering, and storytelling in creating impactful messages

• Best practices for language choice and multisensory message delivery

• Comprehensive testing and refinement of messaging strategies

Join us for an in-depth look at how powerful messaging can command price premiums, withstand market pressures, and foster sustainable competitive advantages.

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Where to find Neeta:

https://www.linkedin.com/in/neetabidwai/

Where to find Good Revenue:

https://goodrevenue.io/goodrevenue

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Highlights:

00:00 Introduction to Effective Messaging

00:58 The Science Behind Messaging

02:37 Understanding Customer Emotions

05:57 The Power of Framing

08:37 Laddering and Value Chain Development

09:56 The Art of Storytelling

12:22 Choosing the Right Language

14:18 Message Testing and Refinement

16:37 Multisensory Message Delivery

18:52 Recap and Best Practices

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Referenced:

• Value creation messages increase willingness to pay: https://journals.sagepub.com/doi/10.1509/jm.12.0179

• Value-based selling: https://www.sciencedirect.com/science/article/abs/pii/S0019850115000449 

• Social norms for behavior change: https://edis.ifas.ufl.edu/publication/WC406

• Somatic markers: https://neurorelay.com/2012/05/15/emotions-create-our-preferences-the-somatic-marker-hypothesis/

• Motivated reasoning: https://psycnet.apa.org/doiLanding?doi=10.1037%2F0033-2909.108.3.480

• Prospect theory: https://www.jstor.org/stable/1914185

• Judgments based on emotions: https://www.researchgate.net/publication/8624927_Risk_As_Analysis_and_Risk_As_Feelings_Some_Thoughts_About_Affect_Reason_Risk_and_Rationality

• Laddering: https://is.muni.cz/el/1456/jaro2013/MPH_MVPS/39278324/LadderingTheoy_original.pdf

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