Thomas from Ariyh - 🎓 Sustainability boosts sales
🎓 Sustainability boosts salesSustainability initiatives signal trust and product quality for small businesses and startups. People were 82% more interested in products from a sustainable startup.New to Ariyh? Join 7,124 evidence-based marketers for 3min insights 💡 based on research 🎓 to grow your business 📈 If you find these insights useful please share them with your colleagues and friends, Ariyh grows thanks to you! 🙏 I need your help: Ariyh’s Strategy
📝 IntroSustainability initiatives are good practice and something we urgently need to save our planet (e.g. Microsoft’s pledge to become carbon negative by 2030). But are they also good marketing? Yes. Research has found that well-executed sustainability initiatives - as part of Corporate Social Responsibility (CSR) - increase positive attitudes towards a company. Benefits range from better sales to higher market value. But these studies all focused on large companies, usually with well-known brands. So what happens when little-known startups or small-medium businesses have sustainability initiatives? P.S.: In the past, we’ve seen that people enjoy using eco-friendly products more than regular products. For example, without realizing why, people enjoyed writing 28% more when they used an eco-friendly pen compared to a regular pen. And of course, satisfied customers are great for future business. Want to sponsor Ariyh? Here’s all you need to know. Previous insight: How to encourage pre-orders (All insights here) Sustainability initiatives signal better product quality and increase purchase intentionsImpacted metrics: Customer acquisition 📈 RecommendationWork on and communicate the sustainability of your company to make it more attractive to potential customers (e.g. our products are sustainably sourced). For small businesses and startups, this signals trust and quality of your products - and makes people more likely to buy them. 🎓 Effects
(Signup rates to startups’ catalogs depending on how they were presented - Click to zoom in) New here? Subscribe for the latest marketing research 💡 from top business schools 🎓 in 3min practical insights 📈 🧠 Why it works
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🔍 Study typeOnline experiment. China 📖 ResearchLiu, Y., & Xu, C. (September 2021). Consumer intention to purchase and corporate social responsibility: Evidence from an experiment in an entrepreneurial context. Journal of Consumer Behaviour. 🏫 AffiliationsUniversity of Warwick and International Business School Suzhou, Xi'an Jiaotong-Liverpool University. United Kingdom and China Remember: Because of the groundbreaking nature of this paper, it could be proven wrong in the future (although this is rare). It also may not be generalizable to your situation. If it’s a risky change, always test it on a small scale before rolling it out widely. Rate today’s insight to help me make Ariyh's next insights 🎓 even more useful 📈 How was today’s insight? Want to sponsor Ariyh or ask a question? -> Reach out at thomas@ariyh.com Don’t have time to study all the latest marketing science in depth? -> You can ask me for Personalized Recommendations. I’ll analyze your business and tell you exactly which research you should apply to boost your revenue. New to Ariyh? -> Subscribe below or read other 3min marketing insights here |
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🎓 How to encourage pre-orders
Tuesday, October 19, 2021
If your launch is far away, use free gifts rather than discounts to encourage pre-orders (in one experiment they were 125% more effective). If it's less than a week away you can use either.
🎓 Short, easy names are more trustworthy
Tuesday, October 12, 2021
eBay sellers with short and easy to pronounce names were judged as 31% more trustworthy than those with long and difficult names
🎓 Productize your service
Tuesday, October 5, 2021
Define, brand, and price your service as if it's a product. You will help people picture what they're getting for their money. Expect sales and satisfaction to increase.
🎓 People remember print ads better
Tuesday, September 28, 2021
Print ads are better absorbed by our memory. One week after seeing them, we remember them better than we would digital ads.
🎓 Simplify your prices
Tuesday, September 14, 2021
Make the pricing of your product options and extras simpler than your competitors. People will perceive you as fairer and cheaper, even if you are more expensive.
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