Compostumbler.com doesn’t reveal “Sale Price” of their composter immediately. They ask visitors to enter their offer code (blue arrow below)–
If you don’t have the offer code you can get one by clicking “Get one here” link (yellow arrow above). This reveals a form–
When I filled the form and hit Process Request button the “Sale Price” turned out to be $239.00.
Compostumbler.com could have directly revealed $239.00 and saved me the trouble, but by adding registration form they’ve captured the mailing information of two groups– ‘sold customers’: customers that think $239.00 is a great sale price and are ready to buy + ‘on the fence customers’: customers that think $239.00 is better than $431.00 (the original asking price) but still too expensive.
Now that compostumbler.com has the email address of ‘on the fence customers’ they can send a series of emails that gently persuade them to buy the composter. The first email might justify the cost by emphasizing quality, the second email might contain customer testimonials (written and video), the third email might educate new customers on how to use a composter, etc. By capturing contact information the e-tailer has changed something that would have been a snap decision into a long term gentle persuasion decision. If compostumbler.com is a good email marketer they could easily increase unit sales 20%.
Note: This tactic only works if the item you are selling is exclusive to your site. And it only works on higher ticket, longer purchase cycle items.
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This is just one of many examples (some obvious, and some not-so-obvious) of how we use buyer psychology to take visitors to your site from “I’m interested” to “That’s it, I’m pulling the trigger”. We use established principles of behavioral economics to influence. Marketers try and get results by dialing up the marketing volume. We show you how to zig when everyone is zagging.