Does it happen to you that you go to the supermarket and feel attracted to a promotional test sample stand where they promote a brand of cheese, wine, or cookies? And then when you taste the free sample that they give you, there’s an inner urge in you to buy that product. Not because the…
3/20 Creating urgency and exclusivity through the scarcity principle A couple of weeks ago one of my neighbors bought a brand new car – Kia Stinger. As is customary with guys I congratulated him on the new acquisition and exchanged a few words about the car. It was a very brief conversation as we…
People hate losing much more than they like to win and like to keep to what they already have. Learn how to use these. Imagine that you are a sales agent selling home insulation. You can talk to people about the benefits of insulation and that they can save 50 cents a day by…
Think about the times you’ve been “of two minds” about something, whether it was about having a cake for dessert when you said to yourself that you’ll go on a diet or your gut was telling you not to trust that sales agent but the offer seemed of really good value? In all these cases…
As a freshman at university, one of my favorite classes was microeconomics. To this date, I remember learning about the price elasticity of demand. The basic premise is that if you decrease the price you increase the demand and vice versa. It makes perfect logical sense and it works … sometimes. Then, some 15…
The Key Emotions in Employee Experience Imagine this scenario: Ben works in a large multinational organization. Last night he worked very late to deliver on a project, but he still feels obliged to turn up for work at 8 a.m. just like any other day, and he certainly hasn’t heard to do otherwise from his…
How Valuable Are Relationships in Business? How much value ($$$) do businesses get from forging relationships with customers? When we ask business people, they tend to say, “Of course, relationships are important,” Still, the benefits of those to a business are not that crystal clear to calculate, while the costs involving visiting customers are.…
When listening to customers leads to these multimillion $ mistakes Why do so many customer experience programs fail to show tangible benefits? Why do customer experience programs and metrics stagnate? While there are a number of reasons and I discuss those in my latest book, certainly one of those is the way organizations…
Business Lessons from the remarkable turnaround story of the worst school in America Have you heard about the Legend of Stanton Elementary? Back in 2010, Stanton Elementary, a school in the disenfranchised neighborhood of Anacostia in Washington, DC, was the second worst-performing school in the district. Then its fortunes turned around. I first…
The Biggest Miss on Business Radars Why emotional attachment is the key to customer-driven growth by Zhecho Dobrev Hands up, if you think relationships are essential in business? We see a forest of hands up in the air every time we ask this question. But exactly how important are relationships when…