As UPS's Bala Ganesh describes, the term "free" isn't just an eye-catching advertising tactic, it can be a powerful ROI strategy for retailers.
As most retailers will tell you, the term "free" is a must in any marketing campaign. The notion of zero cost not only has hefty emotional and impulsive implications for consumers, but it can also lead to increased sales revenue. The savviest retailers, however, know that "free" isn't just an advertising tactic – it's a powerful psychological trigger that helps businesses better predict customer behavior and boost bottom lines.
In his Longitudes article, "Turning Browsers into Buyers," UPS Senior Director of Marketing Bala Ganesh explores the promotional and purchasing power behind the word "free" in shipping policies, promotions and advertisements, and how it can lead to increased online sales and stronger loyalty.
"For the savvy retailer, the free option can serve as a powerful incentive to bolster bottom lines and influence customer behavior," he explains. "'Free' gives us such an emotional charge that we perceive what is being offered as immensely more valuable than it really is."
Read the full article.
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