Hi—It’s Simon.
Another Tuesday, another email, am I right?
Today, we’ll cover 3 tips for email marketing based on the anchoring bias.
Now, before reading this email. I do want to pinpoint my hope for you to use these strategies honestly and fairly and not in a manipulative manner.
Well, let’s get into it!
What is Anchoring Bias?
Anchoring bias is when a person's mind gets "stuck" on the first piece of info and uses it as a guide (anchor) for the next piece of info.
How Can the Anchoring Bias Affect Your Email Campaigns?
By understanding the anchoring bias we can improve our Email Marketing efforts in these ways:
1. Planned email pricing strategy
Introducing your product at a high price in your first emails—then, offer your product at a discounted rate in subsequent emails.
Recipients will perceive the discounted price as a great deal due to the initial higher price that’s anchored in their minds from previous emails.
2. Value, then pricing
The first email a potential customer receives should emphasize the premium quality of a product, that perception will anchor their view on the value of your product.
The value is now anchored in the recipient's mind so subsequent emails should emphasize affordability. Doing so will make the recipient perceive that they're receiving a valuable product at a good price.
3. Setting the right expectations
If recipients are anchored to expect weekly emails and suddenly you start sending daily emails, it will (in most cases) lead to annoyance and higher unsubscribe rates.
Thanks
I was really happy to see that we’ve reached 10 subscribers already. It makes me motivated to continue writing this newsletter. Thanks a lot!
Also, If you enjoyed today’s issue and want to share it with friends, please do, it really helps!
—Simon