According to a 2017 study conducted by the University of Bonn, “the same wine tastes better to participants when it is labeled with a higher price tag.” Participants of the study were shown the price of the wine they were about to taste, and the results were remarkable. The participants preferred the taste of the more expensive wines, despite the fact that all the wine samples provided were exactly the same wine. They call this the “marketing placebo effect” and it has a real effect on the brain. MRI scans were used for this test and the effect of an increased price was measurable.
So, how does any of this information help you with your business? I don’t necessarily recommend pushing your prices up from the get-go and would rather maintain that, in practise, people can still tell when a product is not of the same quality for which they are paying. And this is why there are companies that have built a world-class brand and do charge more for their products. So, at Mavaric, we promote that people charge what they are worth and not what the market is suggesting.
This is the home of your business in the online space and you have seconds to grab a prospect due to the overwhelming competition. If you think the look of your store influences shoppers, then just wait until you find out how people behave on your website. By the way, you have analytics and can actively use the traffic data to sharpen your website. Click here and fill in the form if you want us to show you how to effectively use analytics.
It is important to ensure that your website looks… recently created, and states exactly what you do, on the front page. Some call this an elevator pitch. Are your CTAs clear and where they need to be? Are the images crisp and fast to load? Does your logo present well on all browsers, and on all operating systems? Stand back from your website and look at it as though you are someone with zero knowledge of the business that it being represented. Would you want to contact the business based on what you see? And most importantly, does it talk to your target market? Who is that? Click here to understand who your target market is.
While the website is the virtual storefront of your business, social media can be seen as the online equivalent of your brochures, automobiles and even community. It’s important that your social media’s look and feel mirrors your website… the cover art, the logo, and anything else that is customisable. Social is not always a place for sales, but it is a place to connect. So it takes way longer to get engagement but just keep posting and keep sharing authentically about what you do and who you are. People love to follow interesting people. It’s a great place for charity, so whatever you are doing to give back, share in social.
You can create your own graphics in PowerPoint, but if you are not aware of the visual pitfalls that graphic designers have an eye for, and don’t design with your target market as the one to please, your hard work will be wasted. This is why I would strongly recommend hiring an experienced graphic designer to design the graphics for social media posts and blog posts, brochures, presentation documents, as well as the refreshing of your website.
If you need work on your digital approach, get in touch with Lara on WhatsApp: +31645559258