Katelyn Bourgoin 🧠’s Post

Entrepreneurs: Don’t “build an audience” Build an audience of future buyers These sound similar but there’s a big difference in your approach and how you’ll measure success. Building an audience will feed your ego. But building an audience of future buyers will feed your family. Do you agree?

The longer you work in marketing… The easier it is to accept that there are no “quick tricks” or “marketing secrets”. And as smart as you are and as much as you prep, you won't know for sure what's going to work. You need to learn from customers and then test different audiences, messages, channels, and ideas. Double-down on what works and ditch what doesn’t. Do you agree?

Imagine this: you’re walking down a sidewalk with your noise-canceling earbuds in when all of a sudden… A woman jumps in front of you from outta nowhere and scares the sh*t out of you. Yikes! You rip your earbuds out and ask what she wants. Thankfully she’s *not* a serial killer. She’s just trying to raise money for a local children’s hospital. Phew. …But then she asks if you’d like to donate $250 to her cause. Yikes again! “Uhhh, I can’t swing that. I’m sorry,” you say. "OK," she says. "How about just $10 then? Now *that* feels doable. So you pull out your wallet and hand her the cash. You had no plans to give a total stranger money today, but you did. Why? It’s called the Door-In-The-Face Technique. And although it’s ultra persuasive (like *shockingly* persuasive)… It does have a troubling downside. If you try this approach yourself and do it wrong it could MAJORLY backfire. So how can you use this technique ethically and avoid losing sales and annoying potential customers? I'll reveal that in today's Why We Buy 🧠 newsletter. 70,359 smart people will get the inside scoop in their inboxes in 30 minutes. Are you one of them? If so, drop a comment and let me know what you think of the newsletter. You may show up in a future post of mine. P.S. If you're subscribed yet and you wanna fix that, check my bio link: Katelyn Bourgoin 🧠 (The newsie is free to subscribe but many people say they'd pay for it). P.P.S. Have you used the Door-in-the-face Technique yourself? Or had it used on you? How did it go?

Trust is the currency of business (this person clearly doesn’t get it) Too many people are willing to mislead potential customers to get a sale. Some people stretch the truth or exaggerate. Others will lie by omission—like promising to help you get results like them without revealing the massive advantages that helped them succeed. And some people will outright lie (like this Craig's List advertiser). As an entrepreneur, it's tempting to do it too. After all, dishonesty seems commonplace these days. (Especially here on LinkedIn). Don't do it. You may get more sales in the short-term. But in the long term? You’ll kill your business and your reputation. Not worth it. Do you agree?

Smart marketers study channels, tactics, and trends *Really* smart marketers study psychology and the hidden reasons why customers buy

Smart marketers anticipate objections and skillfully overcome them

The price is never just "the price" If you don't understand pricing psychology... then you're leaving money on the table. Let's explore 7 science-backed pricing tips to help you sell more. Before we drive in: > What you’re about to learn is powerful—use it for good (ie. to sell great stuff that actually helps people) > If you read this post to the end there’s a surprise for you—oooh la la // TIP 1: BIG FONT = BIG PRICE Our brains confuse the visual size of a number for numeric size If we see $25 in large font, our brain notices how BIG the font is and assumes the price is big Lesson? Display prices using small fonts (not large ones) // TIP 2: EXACT NUMBERS APPEAR LARGER $1,302,859.53 seems much bigger than $1.3 M Lesson? If you want a number to feel BIG, streeeeeeeeeeetch it out with commas and decimals // TIP 3: ABBREVIATED NUMBERS APPEAR SMALLER $12K seems smaller than $12,000.00 If you want a number to feel small (like the price of your services or products) abbreviate it TIP 4: WE'LL BUY MORE OF SOMETHING TO GET IT FOR $0 If given the choice between “Buy One Get One Free” or “50% off when you buy 2” the BOGO offer is more compelling Lesson? Getting something free often beats discounting // TIP 5: HIGH PRICES ANCHOR OUR EXPECTATIONS When listing items—like a wine list—seeing higher priced items near the beginning of the list creates a price anchor and changes our perception of other items on the list Lesson? Listing higher priced items first can encourage people to spend more on average // TIP 6: NUMBERS IN RED FEEL LIKE A BARGAIN Studies show that when prices are shown in red, we assume that they’re a great deal (Red pricing works particularly well for men) Lesson? Show sale prices in red. Wanna up the effect? Use smaller fonts for sale prices than the original price // TIP 7: COMPARISON NUMBERS HELP US DECIDE As Einstein famously said, “It’s all relative”. We seek comparisons to help us evaluate a product. Without another item to use as comparison, we won’t know if we’re getting a “good” price Lesson? Choose your brand’s comparison set strategically. For instance, if you sell SaaS to small businesses you can compare your monthly expense to hiring a new team member rather than comparing it to other SaaS products. Smart, huh? // Tl;dr: The best marketers use pricing psychology to help buyers decide I'm curious... how many of these tips did you already know? (Be honest.) - - - P.S. I share more tips like these in my free newsletter, Why We Buy 🧠 If you subscribe to the newsletter TODAY you’ll also get a copy of my Buyer Psychology Cheatsheet for $0. P.P.S. Did you enjoy this post? It took me 3+ hours to research and write. I'd be so grateful if you reposted it.

What’s the difference between a crappy problem and a BUTTLOAD of money? Squatty Potty knows. They turned something *no one wants to talk about* into a $24,000,000 exit. How? They used a sh*t ton of smart, science-backed marketing techniques like: 1. [REDACTED] 2. [REDACTED] 3. [REDACTED] Want the full story? We're doing a Squatty Potty profile in today's newsletter. 69,745 smart people will get all the good stuff. Subscribe to Why We Buy 🧠—fast. (🔗in bio.) -- P.S. How many poop puns do you think we crammed into today's newsletter? Guess. If you're right, you'll win the coveted "Top poop pun guesser" award 💩

What is a trigger event? A trigger event is that magical moment when your buyer moves from being oblivious that they even have a problem to being in the market for a new solution. Trigger events can be: > Biological (eg. Being hungry, feeling cold) > Situational (eg. a milestone birthday, getting a new job) > Emotional (eg. Feeling jealous, feeling insecure) > Social (eg. Fight with spouse, prepping for a presentation) I've leveraged trigger events in past product launches and drove 6-figures in sales for a brand new product. When you learn your customers’ trigger events you can... Get in front of buyers sooner... In less crowded channels... With more targeted messaging... Which drives more sales. The best part? You'll have boatloads of ideas to test (and stop wasting marketing dollars on campaigns that don't work). The first time I heard about trigger events I got really excited. This concept is a game-changer. But even if you think you know your buyers' trigger events, how do you validate that you're on the right track and figure out how to action them? Enter my Trigger Technique framework. The Trigger Technique is a simple strategy framework that turns real customer stories into actionable insights and bite-sized growth ideas you can test, fast. It's a 4-step process: Step 1: Collect buying stories from best-fit buyers Step 2: Extract the most actionable bits Step 3: Plan, design, and run trigger tests Step 4: WOW your team Wanna learn more? I wrote a blog post detailing each step. You can check it out here: https://lnkd.in/gEMmaJi9