Nudge
How to create an irresistible offer (that’s proven to sell)
Feb 5, 2024
Learn the power of extraordinary long warranties in increasing the likelihood of purchase. Explore how loyalty programs, rewards, and free components can boost customer lifetime value. Discover the revenue potential of offering free shipping subscriptions. Find out the impact of limited time promotions and strategies for online offers. Get insights into the release of a playbook for e-commerce optimization and upcoming projects.
25:50
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Quick takeaways
- Offering extraordinary warranties can increase intent to buy by demonstrating high quality and building trust.
- Framing promotions by describing the restriction first and then the offer makes the offer feel like a reward rather than a restriction and increases click-through rates.
Deep dives
Create Extraordinarily Long Warranties to Boost Sales
In a study published in the Journal of Business Research, it was found that offering extraordinary warranties can significantly increase the intent to buy. For unfamiliar brands, offering long warranties can demonstrate high quality and build trust. For example, participants were 34.8% more likely to buy a hoodie with a 10-year warranty and 16.6% more likely to buy car tires with an 80,000-mile warranty. However, this effect may not work well for products in unfamiliar categories.
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