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Prefer to talk to a pro?

Call today, and let us connect you with the perfect merchant!

1-844-686-2616

Call today, and let us connect you with the perfect merchant!

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Updates & tips

Why less is more when it comes to product options

A supermarket jam tasting display was set up as part of a study on choice conducted by Columbia professorSheena Iyengar. When 24 different jam flavors were displayed 60% of the customers stopped to taste it but only 3% actually bought some. Whereas when the display was limited to 6 flavors, 40% of the customers tasted it and 30% of those bought some; that is 10 times the people actually bought when they were offered less choice! Conclusion: Peoplethinkthey want more choice, but they reallyneedless. The bookYes! 50 Scientifically Proven Ways to Be Persuasive, by Robert B Cialdini and co-authors, describes this study and also points out to similar results when employees are given too many options when it comes to retirement plans. For every ten additional funds a company offers its employees, the participation rate drops almost 2 percent. The decision making process becomes too much of a burden when people have to compare between too many options and they simply choose not to make a decision. This doesn't apply when people are looking for something specific and know exactly what they want. An avid mountain biker might be shopping for a 21-speed 26-inch all-terrain  bike featuring a  lightweight alloy frame, front and back suspension, hydraulic disc brakes and 26-inch tires, and won't be confused by the hundreds of other options. One of my clients, Darryl Abrahms ofPalmFlex.comwas in a dilemma. He's in the work glove business and his customers range from the corporate buyer who is looking for very specialized task specific gloves to individuals who want a glove that simply protects their hands while gardening or doing some home improvement. He solves this by providing an extensive range but offering great customer service to help the layman chose the right glove. When people can't make a decision because they just have too many choices then they make no decision at all. To avoid this scenario I worked with Paul Mazzella, owner ofEastpointe Health&Fitness, to simplify his gym membership options. From a mind boggling 15 different alternatives, we cut them down to one simple month-to-month rate and just a handful of additional choices. I'm excited to see how promoting this no-brainer no commitment option will impact membership sales - will keep you posted. So, how do you view product options, would you prefer more or less? To read my other Blog posts click onSmall Business Marketing Management- NJblog.  

By BlueStone Marketing

Another Marketing Blog…..

These days it seems that everybody and their brother is blogging. Well, in my case this is literally very true. My brother has been blogging years before I even considered it. He was blogging when the only blogs around were either those of teenagers posting online diaries or of geeks and techies - he was the latter. To Blog or not To Blog Well this was a no-brainer, now that I started my own Small Business Marketing Management company; as I know all the benefits and am always encouraging my clients to blog and work with them on a specific blogging plan. I hope maintaining a Blog will be an enriching experience, both for myself and others, and I know I'm going to enjoy blogging once I get started because I always feel compelled to write about so many different issues. What to Expect from this Marketing Blog My focus will be to cover marketing topics of interest to small business owners. Below are some of the topics I plan to write about:  Reviews of current Marketing books and new marketing theories –yes, they're always coming up with new ones. I'm especially fascinated by what drives human behavior, because as a marketer my ultimate goal is to nudge people to purchase a product or service. Two of the books I recently read and really loved areYes! 50 Scientifically Proven Ways to Be PersuasiveandHabit: The 95% of Behavior Marketers Ignore. Updates on my clients; what's working for them and what's not Basic Marketing How-To's; like how to launch a successful marketing campaign on a budget, how to use Social Media so it brings results and not just wastes your valuable time, Internet Marketing and Website Optimization basics, what the classic 4P's of Marketing mean to small business owners. Well, the list is endless but those are some of the topics I'd like to start with. My faves: Like my 10 favorite Marketing Blogs, or my 5 favorite Facebook pages. New product news and reviews of successful as well as not so successful marketing Cool Marketing tools I likefor web-design, managing social media accounts and anything else I come across and find useful. These are just some ideas of what I'd like to write about, I'm sure more will come up once I get started.  Is there anything else you'd love to see on this blog? Please let me know your comments below. Photo Credit: JKim1

By BlueStone Marketing