How is POWER a conversion trigger?

Definition: The idea behind Power trigger is giving the buyer the feeling that they (and not you) are driving the process. And even if the buyer doesn’t actually have full control, what matters is that they believe they do.

Watch this video to see how wd40.com uses the Power trigger:

The default state of the homepage:

WD40.com_HP.png

Dropdown selected:

WD40.com_Default_Activated.png

Once the first selection is made:

WD40.com_Selection_1.png

Once second selection listing:

WD40.com_Selection_1_Activated.png

Result set:

WD40.com_Result_Set.png

Apples to Oranges

The best way to prevent your shoppers from comparison shopping is to make it impossible for them to comparison shop. To do this we use a tactic called, Price.

Definition: Price is a technique where we (marketers) shift shopper focus away from the physical price of the item. This can be done 312 different ways. One way is to focus on value, another is to use price anchoring, decoy pricing is a third, apples to oranges is a fourth, etc.

Here is an example of how a brand can use “apples to oranges” tactic to prevent comparison shopping.

When you shop are Toms you don’t just buy 1 pair of shoes. You also help gift shoes, sight, water, safe birth, and prevent bullying:

Toms_Shoes.png

Can Price Sensitivity Be Influenced? Yes

Written form of the video above:

As marketers, we tend to want to put the consumer into price buckets.

I’ve had conversations where the marketer would say: our target audience are retired people, or our target audience are people who make over $130k.

This implies an affluent shopper who is price insensitive is price insensitive for ALL purchases. And someone who is price sensitive is also sensitive under ALL scenarios.

Price sensitivity is situational. Here is my story. I use a marketing tool for work and spend several hundred dollars on it each month. It doesn’t bother me at all.

I also have an iPhone app called AnyList.com which we use maintaining our grocery store. It’s great and I’ve been on the free plan for years.

I recently wanted to add a picture of a food item to the app so I could identify it at the store. That required moving to the paid plan for $11.99 / year for a family. The moment I upgraded I realized I had made a mistake because their individual plan for $7.99 / year was a better fit (since we have just one account). I immediately emailed their customer service team. It took a few minutes to locate their contact info and compose an email to explain my situation. Keep in mind the difference was $4 / year. Four dollars a YEAR. In other words, I spent more time writing the email. So, what happened here? What happened is that I was being situationally price sensitive. I didn’t care about the few hundred I spend a month on the marketing tool because I’m primed to pay for those “types” of services. But paying an extra $4 a year for an app that I’ve been using for 6 years didn’t seem like a good deal. Why? It’s because in my mind apps are free.

I’m the same person, yet I’m behaving in two completely different ways, simultaneously.

My point is that affluent customers can be super price sensitive depending on a situation, and lower earning buyers can be super price insensitive depending on the situation.

Marketers can influence the situational price sensitivity of the shopper. How? By telling better stories.

How “Play” Drives Conversions

There are 2 types of readers of my blog, people who prefer video and those who prefer the written format (I’m looking at your Lars).

Written format:

There are 7 levers (that I know of at this point in time) to influence potential shoppers. One of them is PLAY. Play is a tactic where you employ an interactive element to subliminally communicate your marketing message. Why go through the trouble of constructing an interactive element to pitch your marketing message? Because we’re living in a world saturated with marketing messages (if I had a penny every time I hear “we’re #1” I’d be 87 pennies rich). As a result, shoppers immediately discount marketing hyperbole (System 1 in action). If as a marketer you want to communicate your value prop you need to use PLAY. This is how contentsquare.com uses it:

1: This show this interactive element (notice how enticing it is):

ContentSquare_Default.png

2: Once you make a selection you’re shown this:

ContentSquare_Activated.png

3: Finally, the answer is revealed:

ContentSquare_Result.png

Guess what contentsquare.com specializes in solving for retailers??