Social Media Examiner - 4 principles for more conversions…

 
Today's Guide to the Marketing Jungle from Social Media Examiner...

Presented by 

Social Media Marketing World logo

It’s National 🌸 Primrose Day, Reader! Spring is coming!

In today’s edition:

  • Today's 👉 Tip of the Day is for AI

  • 🔑 4 keys to improve conversions

  • 🤳 Video ads on X/Twitter go vertical

  • 📣 Additional industry news from Meta and TikTok

Want to save precious time and fees associated with contract negotiations? You’ll always need a human attorney to sign off on contracts, but artificial intelligence (AI) can help with initial inspections.

Use AI to Review NDAs and Other Agreements 

Simply upload the document to ChatGPT or Claude and use plain language to ask targeted questions to identify any areas that may be problematic or need adjustment to protect your business interests.

  • Is this agreement bilateral and fair to both parties?

  • Does the confidentiality clause fully protect my interests?

  • Is the length of the agreement (e.g., eight years) excessively long?

Based on its analysis, AI will flag provisions that could pose problems if you were to sign. You can even ask your AI to “rewrite section X to be more bilateral.”

Today's tip is inspired by Christopher Penn, a featured speaker at Social Media Marketing World.

This Is It, Reader!

You have only 13 days to grab your All-Access ticket to Social Media Marketing World 2024—taking place February 18–20 in Sunny San Diego. 

Are you ready to join thousands of marketers and discover strategies that will change the course of your business in 2024 and beyond?  

It’s time to make a choice. Will you be there?

"It's all the little details this conference brings to create fun and excitement that elevate it from great to spectacular," said Jennifer Morton.

I don't want to miss this event!

Generate Higher Engagement and Conversion Rates With Behavioral Economics in Your Marketing

Behavioral economics combines concepts from psychology and economics to better understand how humans actually make decisions, which often involve mental shortcuts and irrational thinking. 

By utilizing subtle aspects of the key principles from behavioral economics—framing, priming, anchoring, and relativity— marketers exert great influence on decisions due to quirks in human psychology. 

While at times counterintuitive, applying the following key behavioral economics concepts allows your marketing campaigns and messaging to be structured around how customers think.

Framing

Framing refers to how information is positioned and the exact words used to describe something. Simply reframing statements can significantly impact interpretation and decision making. For example:

Changing "if" to "when" statements. Instead of "If you have any questions, contact us," use "When you have questions, here is how to reach us." This implies moving to the next step.

Reframing from "anyone" to "everyone." Like stating "This special offer is available for anyone interested" versus "This exclusive deal is available to everyone who signs up this week." This taps into our human desire to be part of a group.

Ending with a question instead of a statement. Asking "Ready to get started?" leads to more responses than declaring "Contact us when you're ready." Questions feel open-ended and compel engagement.

Priming

Priming refers to the idea that introducing concepts and experiences, even briefly, before a decision is made can unconsciously impact what option is selected. This is why sensory details are so important in marketing content.

For example, real estate listings emphasizing images of family gatherings and laughter can prime buyers to picture themselves experiencing joy in the home. An email with a smiling photo of a group attending an event can spur readers to imagine enjoying a similarly happy experience. These primes anchor into emotions that later affect decision making, even if the buyer doesn't consciously realize it.

Anchoring

Anchoring means latching on to initial numeric values when making a guess or estimate. Since making calculations from scratch is mentally taxing, we typically adjust guesses up or down from whatever anchor we start with.

Savvy marketers utilize this tendency by providing a numeric anchor, even an extreme one, to drive decisions. For example, an ad suggesting to buy 18 candy bars may lead people to purchase 6, when without any anchor they may have only purchased 2. The anchor, even if too high for practicality, creates a new baseline that people adjust down from according to their means.

Relativity

Relativity describes how something seems good or bad depending on what we compare it to. We don't analyze options in a vacuum—initial points of reference change our perspective.

Software companies employ this tactic when pricing plans. They display the monthly charge for basic, pro, and premium options. Even though the middle tier may be objectively expensive, it seems more reasonable in context next to the priciest premium plan. Shoppers also perceive middle-shelf liquor as higher quality than bottom-shelf options purely due to surrounding contextual cues. 

Pay attention to relativity by always leading with the most expensive offering first. This establishes a high anchor that makes lower desired price points appear far more reasonable and compelling in comparison.

Today's advice is provided with insights from Melina Palmer.

Wondering How AI Fits With Your Business?

If you work for an agency or a brand, we've got something you won't want to miss! Are you struggling trying to figure out how AI will work in your business? We have speakers at Social Media Marketing World who are experts in AI from a brand and agency perspective.

A sampling of our AI speakers include Paul Roetzer, founder of Marketing AI Institute; Chris Penn, author of AI For Marketers; and Katie Robbert, who will present on getting your business AI ready.

Check out the speaker lineup.

🗞 Meta Financials: Meta's 4th quarter and full-year report shows improved ad impressions and price per ad. Fourth-quarter impressions rose by 21%, prices rose by 2%, yearly impressions rose by 18%, and prices rose by 9%. The report also details a rise in users across several segments and announces a first-ever quarterly dividend. Source: PR Newswire

🗞 TikTok Studios to Open: TikTok is looking to expand into live-stream commerce by opening dedicated streaming studios in Los Angeles, according to The Information. At these studios, creators will be able to live-stream content and sell products in a more professional environment. By opening live-stream studios, TikTok aims to facilitate more options for creators to sell merchandise related to viral trends, similar to how TikTok has already created and sold custom products based on platform crazes. TikTok plans to test out more shopping initiatives in 2024, like food delivery and using AI characters as round-the-clock live-stream hosts. Source: Social Media Today

🗞 Vertical Video Ads on X/Twitter: X/Twitter announced it is expanding Vertical Video Ads globally to all advertisers. With full-screen viewability and sound on by default, a brand's message takes center stage, and advertisers can also drive website traffic with a call-to-action button. Starting today in the United States, advertisers can buy pre-screened, brand-suitable vertical video inventory through X's expanded partnership with Integral Ad Science (IAS). The IAS brand safety and suitability measurement product has now expanded to Australia, Canada, New Zealand, and the United Kingdom. Source: X/Twitter

 

Did You Know?

British sailors ate limes for vitamin C to avoid scurvy. But vikings avoided scurvy by eating… sauerkraut!


Michael Stelzner, Founder and CEO

P.S. Add michael@socialmediaexaminer.com into your contacts list. Use Gmail? Go here to add us as a contact.  

We publish updates with links for our new posts and content from partners. Your information: Email: you Opted in on: 2020-04-05 14:53:59 UTC.

Older messages

Advanced YouTube analysis…

Friday, February 2, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by Social Media Marketing World logo It's 🥔 Tater Tot Day, Reader! Crispy tater tots, 😋 mmmm… In today's

Nurture and retain social followers…

Wednesday, January 31, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by Social Media Marketing World logo It's National ☕ Hot Chocolate Day, Reader! Pro tip: Add a splash of vanilla…

Scalable Instagram DM strategy…

Monday, January 29, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by Social Media Marketing World logo It's National Puzzle Day, Reader... 📣 Shout out to our Director of Strategy

Scaling short-form video creation…

Friday, January 26, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by Social Media Marketing World logo It's 🐸 Toad Hollow Day of Encouragement, Reader! Say something 💖 nice to

The keys to greater creativity…

Wednesday, January 24, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by Social Media Marketing World logo It's 📚 Library Shelfie Day, Reader! Head to your local library and 📸 snap a

Recruiting Brainfood - Issue 386

Sunday, March 3, 2024

How to negotiate with Meta, Klarna's AI bot, Jobs most at risk from AI disintermediation and one outstanding video on personal branding. All this and more sensations from the world of recruitment..

"PWYW" pricing model vs "Charity" (study)

Sunday, March 3, 2024

Today's hack What price will win: "Fixed" vs "Pay what you want (PWYW)" vs "PWYW + 50% goes to charity"? [study] A study was conducted by the University of California

We have a few important questions for you...

Sunday, March 3, 2024

The way you answer this makes all the difference... ClickBank We want to ask you some important questions. Would you like to create a free asset that is worth up to 24x - 35x what you put into it? Does

Funtico Summoner Sale; Heroes of Mavia launch player DAO; Gods Unchained goes mobile; Catching up with Axie Infinity; Games to Watch in March, and more in Play to Earn Newsletter #217

Saturday, March 2, 2024

March 02, 2024 Funtico Summoner Sale; Heroes of Mavia launch player DAO; Gods Unchained goes mobile; Catching up with Axie Infinity; Games to Watch in March, and more in Play to Earn Newsletter #217

How Revenue Multiples Really Fall After Each VC Round

Saturday, March 2, 2024

Plus, 6 Questions Founders Should Ask Themselves for Generative AI To view this email as a web page, click here saastr daily newsletter How Revenue Multiples Really Fall After Each VC Round By Jason

Google Pays for AI Content + Niche Pursuits Community!

Saturday, March 2, 2024

What do Google Gemini, paying for AI content, and a weird niche website about Jedi Archives have to do with each other? Well, they are all featured on today's episode of This Week in Niche Pursuits

'There's a Confidence That Comes From Doing Hard Things'

Saturday, March 2, 2024

We spoke to former Oklahoma Women's Basketball Coach Sherri Coale about seeing opportunity amidst hardship and the off-the-court hallmarks of her great teams. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Insider Today: A 401(k) for longevity

Saturday, March 2, 2024

Plus: Tuscany beckons, and your decor gets a facelift. View in browser March 2, 2024 • 4 min read with Joi-Marie McKenzie Hiya! If you've ever dreamed of giving up the grind and retiring in Italy,

Finding top tech opportunities

Saturday, March 2, 2024

Also: February returns across a range of indexes; New TAMs loom for public PE giants; Infrastructure SaaS is ready for the sea change AI will bring... Read online | Don't want to receive these

In search of employment

Saturday, March 2, 2024

India urgently needs to ramp up labour-intensive economic activity to provide jobs for its young workforce ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏