Brain Driven Brands - Episode Summary: "This Easy Psych Hack Could Increase Your Sales by 22%"

Release Date: January 16, 2025
Host: Sarah Levinger

In this insightful episode of Brain Driven Brands, host Sarah Levinger delves into a powerful neuromarketing tactic that has the potential to boost e-commerce sales by 22%. Through engaging dialogue and practical examples, Sarah and her guest, Nate Legos, explore the psychology behind consumer behavior and how strategic presentation of product costs can significantly influence purchasing decisions.

1. Introduction to the Psych Hack

The episode kicks off with a light-hearted exchange between Sarah and Nate, setting a relaxed tone before transitioning into the core topic. Sarah introduces the main focus:

"This visual psych hack could increase your sales by up to 22%."
[02:02]

She emphasizes that this isn't just a "hack" but a strategic psychology tactic essential for modern e-commerce brands.

2. Understanding the Psych Hack: Displaying Product Costs

Sarah explains the crux of the psych hack: displaying the costs involved in creating a product alongside the product itself. This transparent approach can enhance perceived value and justify pricing, thereby driving higher sales.

"If you explain and display the cost of making your product next to the product itself, you can increase sales by 22% or higher."
[04:21]

3. Practical Application and Examples

Nate expresses enthusiasm about implementing this strategy:

"Oh my gosh, I can't wait to run one of these ads."
[04:43]

They discuss a study involving the 115 Wallet, which saw a 22% increase in sales when an infographic detailing production costs was used. Sarah speculates on the nature of these costs, wondering whether the study included hard costs like materials or also intangible costs like time and development.

"The study abstract at least doesn't say how they broke down the costs."
[06:23]

4. Expanding Beyond Monetary Costs: Time and Opportunity

Sarah and Nate agree that showcasing not just the financial but also the time and opportunity costs can add depth to the perceived value. Nate shares a compelling narrative about their Century Whiskey Watch, highlighting the extensive process involved:

"This watch is 100 plus years old. The century whiskey watch."
[12:02]

By detailing the journey from an oak tree's growth to the aging of whiskey in barrels, they illustrate how long-term investments contribute to the final product's value.

5. Leveraging Emotional Storytelling

The conversation shifts to the importance of emotional storytelling in marketing. Sarah draws parallels to De Beers' "A Diamond is Forever" campaign, emphasizing how conveying the legacy and effort behind a product can resonate deeply with consumers.

"The purchase of this needs to be a little painful for her so she can show how much I value you."
[10:52]

Nate adds that such storytelling not only highlights the product's worth but also aligns with the customer's values and lifestyle.

6. Implementation Strategies for Brands

Nate outlines actionable steps for brands looking to adopt this psych hack:

• Detail All Costs: Include labor, time, and opportunity costs alongside product images.
• Highlight Unique Elements: Showcase aspects like reclaimed materials or specialized craftsmanship.
• Create Comprehensive Narratives: Explain the extensive process and the people involved in creating the product.

"Everyone can make your process. You can position it as costly and lengthy and thorough."
[12:34]

Sarah underscores the importance of aligning these narratives with the brand's identity and customer expectations to maximize impact.

7. Broader Implications on Marketing and Customer Perception

The hosts discuss how this tactic can transform customer perceptions, making them more appreciative of the product's value. By understanding and communicating the intricate details behind product creation, brands can foster a deeper connection with their audience.

"You're selling something that has ingredients that needed to grow first... how much effort went into creating this."
[07:04]

8. Personal Insights and Future Applications

Nate shares his excitement about incorporating these strategies into Original Grain's marketing efforts, reflecting on the potential for increased sales and stronger customer loyalty.

"We're building a new LP right now. I'm adding this to it."
[19:26]

Sarah encourages brands to engage their marketing teams in developing these narratives, suggesting that a collaborative approach can yield more authentic and compelling stories.

Notable Quotes

• Sarah Levinger [04:21]: "If you explain and display the cost of making your product next to the product itself, you can increase sales by 22% or higher."

• Nate Legos [04:43]: "Oh my gosh, I can't wait to run one of these ads."

• Sarah Levinger [10:52]: "The purchase of this needs to be a little painful for her so she can show how much I value you."

• Nate Legos [12:34]: "Everyone can make your process. You can position it as costly and lengthy and thorough."

Conclusion

This episode of Brain Driven Brands provides a compelling look into how transparency and detailed storytelling can elevate a brand's marketing strategy. By showcasing the comprehensive costs behind product creation, brands can not only justify their pricing but also build a stronger emotional connection with their customers, ultimately driving substantial sales growth.

For more insights and actionable neuromarketing tactics, tune into future episodes of Brain Driven Brands and explore the full range of strategies to enhance your e-commerce success.