Strategies
Sending the shoes back? How about this lovely gift card? Cross-selling can help retailers avoid lost revenue from returns
Once we’ve chosen to buy something, we tend to consider that money as already spent or gone, also called “loss booking.” If we decide we want to return the item, retailers can take advantage of that tendency by giving customers enticing options to spend their refund on something else, instead of getting their money back.
BizNews
Wine sellers, pay attention: Women more likely to choose wine from female winemakers
Messages like “proudly made by a woman winemaker” increased women’s intentions of purchasing wines, particularly when the label’s artwork reinforced the point with feminine gender cues such as flowers. Women were also willing to pay higher prices for those wines.
Strategies
Digital targeting creeps out customers
When digital personalization crosses perceived boundaries, it triggers a powerful emotional response, which he calls “creepiness.” That response can backfire on digital marketers by materially reducing consumers’ willingness to buy.
Strategies
When there’s a burst of online social disapproval, what do you do? Leveraging analytics for comprehension and detection
Negative opinions become a battlefield in the spreading phase, and sometimes one perspective emerges as more dominant. When things settle down and get back to normal, that’s when management should revert to prebursting monitoring practices, rather than just waiting for it to happen again.
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