27 min listen
016: How Groupon Used Social Proof To Increase Sales
016: How Groupon Used Social Proof To Increase Sales
ratings:
Length:
26 minutes
Released:
Jan 12, 2021
Format:
Podcast episode
Description
Social proof is the idea that the behaviors of others influence our own actions and attitudes. Social proof creates that sense of FOMO (fear of missing out) and convinces people to do what the majority of those around them are doing. Did you know companies such as Groupon used social proof to increase their sales? In this episode, you’ll find out why social proof is powerful and how you can use it. Today’s article focuses on Groupon and how the company sold coupons by knowing its consumers. The article found that larger discounts on coupons did not lead to more sales. Instead, social proof was such a predictable and reliable driver of sales that they could use it as a tool to predict sales with a high degree of accuracy. Groupon knows that their “subscribers are not looking for the perfect deal, they’re looking for the perfect excuse to try something new”. Do you know your clients’ motivations? Data from today’s study shows us that sometimes, our ideal client gets caught up in social proof, regardless of their values and motivations. How do we as copywriters deal with this? As mentioned in previous episodes, it is important to know your ideal customer, but also to recognize that sometimes social proof gets in the way. What To Look For In This Episode: [00:06:55] What today’s article revealed. [00:15:07] Why you should know your avatar but know it loosely. [00:16:45] How to use social proof in your copy. Journal Article: Value proposition and social proof in online deals: an exploratory study of Groupon.com https://www.researchgate.net/publication/230015908_Value_proposition_and_social_proof_in_online_deals_An_exploratory_study_of_Grouponcom Amblee, N., & Bui, T. (2012). Value proposition and social proof in online deals: an exploratory study of Groupon.com. ICEC '12. https://dl.acm.org/doi/10.1145/2346536.2346596 Resources: Brand Voice Template [brandvoicetemplate.com] Got a question you want answered on the podcast? Awesome! Go to geoffkullman.com/questions Connect with Geoff: Instagram: instagram.com/geoffkullman Twitter: twitter.com/geoffkullman Inquiries: geoffkullman.com Subscribe To The Podcast Here: Do you have friends, colleagues, or clients who would find The Psychology of Copywriting podcast valuable? Spread the word! *** EPISODE CREDITS: If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. Danny helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com
Released:
Jan 12, 2021
Format:
Podcast episode
Titles in the series (82)
003: The Importance of Influence (Lessons From One Cialdini Study Using Hotel Towels): Have you ever decided to re-use your hotel towel because the little sign told you it would help save the environment? In this episode, we dive into a study about those little hotel towel signs and how they impact behavior through the power of social... by The Psychology of Copywriting