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How Will Digital Marketing Be Affected By The Metaverse?

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How Will Digital Marketing Be Affected By The Metaverse?

We’re at a loss as to whether we should be delighted or horrified by the prospect of a sci-fi future.

Mark Zuckerberg is one of the world’s most influential innovators. A new initiative called “The Metaverse” looks like the movie “Ready Player One,” in which individuals enter a digital world to play, interact and experience a variety of different things.

Facebook has entered a new age. It has now been determined that the blue social media company, which owns WhatsApp and Instagram, will now be known as “Meta.”

Marketers have always existed, as we’re all aware. Since you can’t make money if you don’t know how to sell, and if you can’t make money if you don’t have money, then the end of history is near.

In Mark’s words, “The New Internet,” what kinds of experiences will we be able to have? In what ways will commercial activity evolve over time?

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Let’s explore this intriguing view of the internet’s potential and how marketers may make use of it.

Definition: What is Metaverse?

To begin, let’s go back to “The Matrix” and “Ready Player One,” two of my favourite films. These are excellent samples of what “The Metaverse” will look like in the future and how you will interact with it.

In the Metaverse, people will be able to live in a digital world with the assistance of AI, AR, and other technological features. The question is, what would you do in this new world? Whatever you can do in the real world, but with a virtual-reality twist.

It is the goal of the Metaverse to provide a one-stop-shop for everything from entertainment to education to travel to business. So, let’s pretend you have a slew of buddies scattered over Asia that you’d like to get together with.

That’s fine! Forget about buying a ticket, put on your VR headsets and you’ll be able to meet them in a virtual room or even attend their show!

The Metaverse aims to provide a virtual world where you may design your own virtual home, shop for digital clothing, and meet new people from all over the world.

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Even for “home office employees,” this initiative is fascinating since Meta is intending to rehabilitate digital workplaces where you may meet with your colleagues and yet conduct all of your work from the convenience of your own home.

There are several large firms spending heavily in this gigantic undertaking, including Microsoft, Unity, Roblox, and Epic Games, in order to begin construction of the entire “Metaverse.”

Until now, The Metaverse hasn’t been released. Mark Zuckerberg claims that it might take up to five to ten years for virtual reality’s most important capabilities to become commonplace in the real world.

VR headsets and permanent, always-on online environments are just a few of the features that will be accessible in the near future.

What Impact Will The Metaverse Have On Digital Advertising?

The possibilities for digital marketing in virtual reality appear to be endless.

Most digital marketing agencies do not rule out the use of offline advertising, such as broadcast or streaming services, as an effective means of promoting their clients’ products and services.

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It’s also becoming increasingly obvious that existing communication methods will become outmoded over time as the future gets more digital.

To provide a more comfortable relationship with customers, virtual reality will help us meet them in virtual reality, where they may speak business or even purchase your items without having to leave the virtual world.

The Horizon Market Place platforms, which Mark Zuckerberg discusses in his Metaverse presentation, will allow users to purchase both virtual and tangible effects.

Businesses like real estate will be able to conduct virtual visits to their properties without having to meet face-to-face, which will speed up the process and create better comfort for all parties involved.

How Brands Can Become a Part of a Metaverse

There are many more businesses that can benefit from the metaverse’s immersive setting as well. Businesses may use virtual reality to teach future surgeons and shop staff alike about new products.

When it comes to manufacturing and logistics, Nvidia’s CEO expects that investing in metaverse simulations like these would decrease waste and speed up business solutions. Using its Mesh platform, Microsoft’s cloud services, such as Teams, will allow avatars and immersive places to be woven into the metaverse’s fabric over time.

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Mixed and remote working arrangements, such as those created in the wake of the Covid decision, may become even more significant in the way businesses interact with their employees and consumers.

For enterprises sitting on the side-lines, each brand must find its position and balance the risk-reward equation. Understanding what is feasible is essential, and the organisations that are diving in fast may both inspire and serve as test cases.

Several brands, for example, are making full use of the metaverse’s gaming component by offering brand experiences that are effectively virtual and holistic sponsorships.

Video games are the Metaverse themes with the most space for growth, and their developers are the most thrilled about this potential. Even yet, it’s encouraging to know that video games are now enjoyed by those outsides of the geek community.

Even the world’s most valuable brands develop a symbiotic relationship between video games and marketing.

For younger generations, you need to recognise that technology alone is just not enough for kids, teenagers, and young adults. As a result, today your content must be significant and interesting in order to get seen.

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In Order To Promote Their Products, Brands Are Partnering With Video Game Developers

✔Balenciaga displayed their future apparel range in a dystopian video game called Afterworld.

✔The popular game Fortnite has teamed up with Nike to advertise its new Jordan sneakers and formed an agreement with rapper Travis Scott to perform in front of a virtual crowd of over 10 million people.

✔Louis Vuitton teamed with the platform game League of Legends for the most recent global championship.

When It Comes To The Metaverse, What New Technology Do You Anticipate?

Technology is currently turning faster and more predictably than ever before, because of the rapid pace of technological change. Almost everyone now has access to blazing-fast and stable 5G speeds.

All of this enhances the realism and sensation of this virtual reality since it enhances the visual and auditory aspects of the virtual world. This is everything you need to know about outsourcing B2B sales.

Furthermore, the Metaverse intends on being directly linked with the complete blockchain service. Those looking for a more secure way to browse the web will find it here.

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Some businesses might not have access to all their internet search activity. In light of the company’s alleged involvement in the US election and other controversies, we should be sceptical.

Until we have access to this new technology, we cannot verify these promises. Blockchain, crypto, and even NFTs are current innovations that point to a cookie-free internet that provides better privacy for its users.

The Metaverse has a new product: NFTs!

Another emerging trend that will be seamlessly integrated into Metaverse trade and economy is the use of Non-Fungible Tokens. The art, music, and video included within these Tokens are said to be one-of-a-kind and unrepeatable.

There is speculation that NFTs will make up a major portion of the Metaverse’s merchandise. Artists and content makers will be able to take advantage of this trend, which intends to be profitable, so keep an eye out for it.

What Are The Advantages And Disadvantages Of Doing Business In The Metaverse?

Businesses are preparing for a major shift even as the metaverse’s technology is being developed. Grayscale, a cryptocurrency start-up and market intelligence provider, reportedly estimated that the metaverse could generate $1 trillion in income.

From advertising in the metaverse to e-commerce, virtual events, and new technology, there is a vast commercial opportunity.

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Ads and advertising hoardings were strikingly absent when Mark Zuckerberg unveiled the company’s metaverse simulation at Connect.

Ads and sponsored content are commonplace on social media, but the metaverse has yet to use a comparable technique.

There are just a few years left before the commercial ramifications of the metaverse are fully understood by corporations and investors alike. Here’s a quick rundown for those who wish to get an early start in digital marketing.

One way to explain the metaverse is to say that it is a three-dimensional virtual environment in which users may interact with one another and their surroundings by using avatars who look like them and move like them.

With a few key differences, the metaverse would represent the next evolution of the internet and social media.

  • VR allows users to interact with a business in unprecedented ways, from putting on clothing to touring a piece of real estate.
  • Since e-commerce does not impose any geographical restrictions on its customers, users can be located anywhere in the globe.
  • In the metaverse, users will have access to a digital wallet that streamlines the process of making purchases.
  • In order to engage in groups and activities, users will be able to relocate freely across the metaverse.
  • 360-degree videos and 3D modelling will let users participate in a new type of narrative experience, and as a result, advertising will need to adapt.

The Metaverse Has Its Risks When It Comes to Doing Business

To do business in the metaverse, there are, of course, certain negatives to this. Up until 2035, the metaverse’s early years will be particularly perilous for individuals trying to grow their businesses into new sectors or invest in new routes of distribution.

The Audience’s Degree Of Interest In The Subject Matter Might Be Unpredictable

The metaverse may mostly be accessed through virtual reality. No matter how you slice it, though, the number of individuals wearing virtual reality headsets has remained insignificant when compared to the world’s total population.

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The way a person reacts to virtual reality can be influenced by a variety of factors, including their personal preferences and health. It’s possible that companies won’t be able to reach every part of the world.

The Changing Value of Cryptocurrency

Whether in the form of cryptocurrency or non-fungible tokens, blockchain is expected to be used in many business transactions in the metaverse (NFTs).

There may be some financial upheaval in the metaverse if the value of cryptocurrencies continues to vary. NFTs may not be as safe as investments in the real world.

A customer that has paid for an NFT may not be allowed to make changes to the job, for example. Some purchasers may be put off by this.

The Ability To Put It Into Practice In A Real-Life Setting

Those who work in the metaverse are aware of this risk. This might lead them to find themselves in a location where just a tiny proportion of the world’s population can access them.

As with the dot-com bubble of the 1990s, if metaverse native company fail to maintain themselves, we might be looking at a similar predicament.

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Regulations Are Less Tightly Controlled As A Result Of Decentralisation

Decentralization is a vital necessity, according to most metaverse commentators, observers, and developers. It will not be owned by anybody, and it will be entirely open and democratic. Despite this, it will be difficult to maintain control over the metaverse.

Laws that are strong enough would be impossible to enforce under this decentralised structure, even if they were passed by the regulatory bodies.

Conclusion

A crucial life lesson for marketers, adapting and overcoming will help you deal with the inevitable setbacks that life throws at you.

Metaverse, on the other hand, is considered as more of a chance for digital marketing than anything else.


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Streamlining Processes for Increased Efficiency and Results

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Streamlining Processes for Increased Efficiency and Results

How can businesses succeed nowadays when technology rules?  With competition getting tougher and customers changing their preferences often, it’s a challenge. But using marketing automation can help make things easier and get better results. And in the future, it’s going to be even more important for all kinds of businesses.

So, let’s discuss how businesses can leverage marketing automation to stay ahead and thrive.

Benefits of automation marketing automation to boost your efforts

First, let’s explore the benefits of marketing automation to supercharge your efforts:

 Marketing automation simplifies repetitive tasks, saving time and effort.

With automated workflows, processes become more efficient, leading to better productivity. For instance, automation not only streamlines tasks like email campaigns but also optimizes website speed, ensuring a seamless user experience. A faster website not only enhances customer satisfaction but also positively impacts search engine rankings, driving more organic traffic and ultimately boosting conversions.

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Automation allows for precise targeting, reaching the right audience with personalized messages.

With automated workflows, processes become more efficient, leading to better productivity. A great example of automated workflow is Pipedrive & WhatsApp Integration in which an automated welcome message pops up on their WhatsApp

within seconds once a potential customer expresses interest in your business.

Increases ROI

By optimizing campaigns and reducing manual labor, automation can significantly improve return on investment.

Leveraging automation enables businesses to scale their marketing efforts effectively, driving growth and success. Additionally, incorporating lead scoring into automated marketing processes can streamline the identification of high-potential prospects, further optimizing resource allocation and maximizing conversion rates.

Harnessing the power of marketing automation can revolutionize your marketing strategy, leading to increased efficiency, higher returns, and sustainable growth in today’s competitive market. So, why wait? Start automating your marketing efforts today and propel your business to new heights, moreover if you have just learned ways on how to create an online business

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How marketing automation can simplify operations and increase efficiency

Understanding the Change

Marketing automation has evolved significantly over time, from basic email marketing campaigns to sophisticated platforms that can manage entire marketing strategies. This progress has been fueled by advances in technology, particularly artificial intelligence (AI) and machine learning, making automation smarter and more adaptable.

One of the main reasons for this shift is the vast amount of data available to marketers today. From understanding customer demographics to analyzing behavior, the sheer volume of data is staggering. Marketing automation platforms use this data to create highly personalized and targeted campaigns, allowing businesses to connect with their audience on a deeper level.

The Emergence of AI-Powered Automation

In the future, AI-powered automation will play an even bigger role in marketing strategies. AI algorithms can analyze huge amounts of data in real-time, helping marketers identify trends, predict consumer behavior, and optimize campaigns as they go. This agility and responsiveness are crucial in today’s fast-moving digital world, where opportunities come and go in the blink of an eye. For example, we’re witnessing the rise of AI-based tools from AI website builders, to AI logo generators and even more, showing that we’re competing with time and efficiency.

Combining AI-powered automation with WordPress management services streamlines marketing efforts, enabling quick adaptation to changing trends and efficient management of online presence.

Moreover, AI can take care of routine tasks like content creation, scheduling, and testing, giving marketers more time to focus on strategic activities. By automating these repetitive tasks, businesses can work more efficiently, leading to better outcomes. AI can create social media ads tailored to specific demographics and preferences, ensuring that the content resonates with the target audience. With the help of an AI ad maker tool, businesses can efficiently produce high-quality advertisements that drive engagement and conversions across various social media platforms.

Personalization on a Large Scale

Personalization has always been important in marketing, and automation is making it possible on a larger scale. By using AI and machine learning, marketers can create tailored experiences for each customer based on their preferences, behaviors, and past interactions with the brand.  

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This level of personalization not only boosts customer satisfaction but also increases engagement and loyalty. When consumers feel understood and valued, they are more likely to become loyal customers and brand advocates. As automation technology continues to evolve, we can expect personalization to become even more advanced, enabling businesses to forge deeper connections with their audience.  As your company has tiny homes for sale California, personalized experiences will ensure each customer finds their perfect fit, fostering lasting connections.

Integration Across Channels

Another trend shaping the future of marketing automation is the integration of multiple channels into a cohesive strategy. Today’s consumers interact with brands across various touchpoints, from social media and email to websites and mobile apps. Marketing automation platforms that can seamlessly integrate these channels and deliver consistent messaging will have a competitive edge. When creating a comparison website it’s important to ensure that the platform effectively aggregates data from diverse sources and presents it in a user-friendly manner, empowering consumers to make informed decisions.

Omni-channel integration not only betters the customer experience but also provides marketers with a comprehensive view of the customer journey. By tracking interactions across channels, businesses can gain valuable insights into how consumers engage with their brand, allowing them to refine their marketing strategies for maximum impact. Lastly, integrating SEO services into omni-channel strategies boosts visibility and helps businesses better understand and engage with their customers across different platforms.

The Human Element

While automation offers many benefits, it’s crucial not to overlook the human aspect of marketing. Despite advances in AI and machine learning, there are still elements of marketing that require human creativity, empathy, and strategic thinking.

Successful marketing automation strikes a balance between technology and human expertise. By using automation to handle routine tasks and data analysis, marketers can focus on what they do best – storytelling, building relationships, and driving innovation.

Conclusion

The future of marketing automation looks promising, offering improved efficiency and results for businesses of all sizes.

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As AI continues to advance and consumer expectations change, automation will play an increasingly vital role in keeping businesses competitive.

By embracing automation technologies, marketers can simplify processes, deliver more personalized experiences, and ultimately, achieve their business goals more effectively than ever before.

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Will Google Buy HubSpot? | Content Marketing Institute

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Why Marketers Should Care About Google’s Potential HubSpot Acquisition

Google + HubSpot. Is it a thing?

This week, a flurry of news came down about Google’s consideration of purchasing HubSpot.

The prospect dismayed some. It delighted others.

But is it likely? Is it even possible? What would it mean for marketers? What does the consideration even mean for marketers?

Well, we asked CMI’s chief strategy advisor, Robert Rose, for his take. Watch this video or read on:

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Why Alphabet may want HubSpot

Alphabet, the parent company of Google, apparently is contemplating the acquisition of inbound marketing giant HubSpot.

The potential price could be in the range of $30 billion to $40 billion. That would make Alphabet’s largest acquisition by far. The current deal holding that title happened in 2011 when it acquired Motorola Mobility for more than $12 billion. It later sold it to Lenovo for less than $3 billion.

If the HubSpot deal happens, it would not be in character with what the classic evil villain has been doing for the past 20 years.

At first glance, you might think the deal would make no sense. Why would Google want to spend three times as much as it’s ever spent to get into the inbound marketing — the CRM and marketing automation business?

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At a second glance, it makes a ton of sense.

I don’t know if you’ve noticed, but I and others at CMI spend a lot of time discussing privacy, owned media, and the deprecation of the third-party cookie. I just talked about it two weeks ago. It’s really happening.

All that oxygen being sucked out of the ad tech space presents a compelling case that Alphabet should diversify from third-party data and classic surveillance-based marketing.

Yes, this potential acquisition is about data. HubSpot would give Alphabet the keys to the kingdom of 205,000 business customers — and their customers’ data that almost certainly numbers in the tens of millions. Alphabet would also gain access to the content, marketing, and sales information those customers consumed.

Conversely, the deal would provide an immediate tip of the spear for HubSpot clients to create more targeted programs in the Alphabet ecosystem and upload their data to drive even more personalized experiences on their own properties and connect them to the Google Workspace infrastructure.

When you add in the idea of Gemini, you can start to see how Google might monetize its generative AI tool beyond figuring out how to use it on ads on search results pages.

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What acquisition could mean for HubSpot customers

I may be stretching here but imagine this world. As a Hubspoogle customer, you can access an interface that prioritizes your owned media data (e.g., your website, your e-commerce catalog, blog) when Google’s Gemini answers a question).

Recent reports also say Google may put up a paywall around the new premium features of its artificial intelligence-powered Search Generative Experience. Imagine this as the new gating for marketing. In other words, users can subscribe to Google’s AI for free, but Hubspoogle customers can access that data and use it to create targeted offers.

The acquisition of HubSpot would immediately make Google Workspace a more robust competitor to Microsoft 365 Office for small- and medium-sized businesses as they would receive the ADDED capability of inbound marketing.

But in the world of rented land where Google is the landlord, the government will take notice of the acquisition. But — and it’s a big but, I cannot lie (yes, I just did that). The big but is whether this acquisition dance can happen without going afoul of regulatory issues.

Some analysts say it should be no problem. Others say, “Yeah, it wouldn’t go.” Either way, would anybody touch it in an election year? That’s a whole other story.

What marketers should realize

So, what’s my takeaway?

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It’s a remote chance that Google will jump on this hard, but stranger things have happened. It would be an exciting disruption in the market.

The sure bet is this. The acquisition conversation — as if you needed more data points — says getting good at owned media to attract and build audiences and using that first-party data to provide better communication and collaboration with your customers are a must.

It’s just a matter of time until Google makes a move. They might just be testing the waters now, but they will move here. But no matter what they do, if you have your customer data house in order, you’ll be primed for success.

Want more content marketing tips, insights, and examples? Subscribe to workday or weekly emails from CMI.

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Cover image by Joseph Kalinowski/Content Marketing Institute

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5 Psychological Tactics to Write Better Emails

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5 Psychological Tactics to Write Better Emails

Welcome to Creator Columns, where we bring expert HubSpot Creator voices to the Blogs that inspire and help you grow better.

I’ve tested 100s of psychological tactics on my email subscribers. In this blog, I reveal the five tactics that actually work.

You’ll learn about the email tactic that got one marketer a job at the White House.

You’ll learn how I doubled my 5 star reviews with one email, and why one strange email from Barack Obama broke all records for donations.

→ Download Now: The Beginner's Guide to Email Marketing [Free Ebook]

5 Psychological Tactics to Write Better Emails

Imagine writing an email that’s so effective it lands you a job at the White House.

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Well, that’s what happened to Maya Shankar, a PhD cognitive neuroscientist. In 2014, the Department of Veterans Affairs asked her to help increase signups in their veteran benefit scheme.

Maya had a plan. She was well aware of a cognitive bias that affects us all—the endowment effect. This bias suggests that people value items higher if they own them. So, she changed the subject line in the Veterans’ enrollment email.

Previously it read:

  • Veterans, you’re eligible for the benefit program. Sign up today.

She tweaked one word, changing it to:

  • Veterans, you’ve earned the benefits program. Sign up today.

This tiny tweak had a big impact. The amount of veterans enrolling in the program went up by 9%. And Maya landed a job working at the White House

Boost participation email graphic

Inspired by these psychological tweaks to emails, I started to run my own tests.

Alongside my podcast Nudge, I’ve run 100s of email tests on my 1,000s of newsletter subscribers.

Here are the five best tactics I’ve uncovered.

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1. Show readers what they’re missing.

Nobel prize winning behavioral scientists Daniel Kahneman and Amos Tversky uncovered a principle called loss aversion.

Loss aversion means that losses feel more painful than equivalent gains. In real-world terms, losing $10 feels worse than how gaining $10 feels good. And I wondered if this simple nudge could help increase the number of my podcast listeners.

For my test, I tweaked the subject line of the email announcing an episode. The control read:

“Listen to this one”

In the loss aversion variant it read:

“Don’t miss this one”

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It is very subtle loss aversion. Rather than asking someone to listen, I’m saying they shouldn’t miss out. And it worked. It increased the open rate by 13.3% and the click rate by 12.5%. Plus, it was a small change that cost me nothing at all.

Growth mindset email analytics

2. People follow the crowd.

In general, humans like to follow the masses. When picking a dish, we’ll often opt for the most popular. When choosing a movie to watch, we tend to pick the box office hit. It’s a well-known psychological bias called social proof.

I’ve always wondered if it works for emails. So, I set up an A/B experiment with two subject lines. Both promoted my show, but one contained social proof.

The control read: New Nudge: Why Brands Should Flaunt Their Flaws

The social proof variant read: New Nudge: Why Brands Should Flaunt Their Flaws (100,000 Downloads)

I hoped that by highlighting the episode’s high number of downloads, I’d encourage more people to listen. Fortunately, it worked.

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The open rate went from 22% to 28% for the social proof version, and the click rate, (the number of people actually listening to the episode), doubled.

3. Praise loyal subscribers.

The consistency principle suggests that people are likely to stick to behaviours they’ve previously taken. A retired taxi driver won’t swap his car for a bike. A hairdresser won’t change to a cheap shampoo. We like to stay consistent with our past behaviors.

I decided to test this in an email.

For my test, I attempted to encourage my subscribers to leave a review for my podcast. I sent emails to 400 subscribers who had been following the show for a year.

The control read: “Could you leave a review for Nudge?”

The consistency variant read: “You’ve been following Nudge for 12 months, could you leave a review?”

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My hypothesis was simple. If I remind people that they’ve consistently supported the show they’ll be more likely to leave a review.

It worked.

The open rate on the consistency version of the email was 7% higher.

But more importantly, the click rate, (the number of people who actually left a review), was almost 2x higher for the consistency version. Merely telling people they’d been a fan for a while doubled my reviews.

4. Showcase scarcity.

We prefer scarce resources. Taylor Swift gigs sell out in seconds not just because she’s popular, but because her tickets are hard to come by.

Swifties aren’t the first to experience this. Back in 1975, three researchers proved how powerful scarcity is. For the study, the researchers occupied a cafe. On alternating weeks they’d make one small change in the cafe.

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On some weeks they’d ensure the cookie jar was full.

On other weeks they’d ensure the cookie jar only contained two cookies (never more or less).

In other words, sometimes the cookies looked abundantly available. Sometimes they looked like they were almost out.

This changed behaviour. Customers who saw the two cookie jar bought 43% more cookies than those who saw the full jar.

It sounds too good to be true, so I tested it for myself.

I sent an email to 260 subscribers offering free access to my Science of Marketing course for one day only.

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In the control, the subject line read: “Free access to the Science of Marketing course”

For the scarcity variant it read: “Only Today: Get free access to the Science of Marketing Course | Only one enrol per person.”

130 people received the first email, 130 received the second. And the result was almost as good as the cookie finding. The scarcity version had a 15.1% higher open rate.

Email A/B test results

5. Spark curiosity.

All of the email tips I’ve shared have only been tested on my relatively small audience. So, I thought I’d end with a tip that was tested on the masses.

Back in 2012, Barack Obama and his campaign team sent hundreds of emails to raise funds for his campaign.

Of the $690 million he raised, most came from direct email appeals. But there was one email, according to ABC news, that was far more effective than the rest. And it was an odd one.

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The email that drew in the most cash, had a strange subject line. It simply said “Hey.”

The actual email asked the reader to donate, sharing all the expected reasons, but the subject line was different.

It sparked curiosity, it got people wondering, is Obama saying Hey just to me?

Readers were curious and couldn’t help but open the email. According to ABC it was “the most effective pitch of all.”

Because more people opened, it raised more money than any other email. The bias Obama used here is the curiosity gap. We’re more likely to act on something when our curiosity is piqued.

Email example

Loss aversion, social proof, consistency, scarcity and curiosity—all these nudges have helped me improve my emails. And I reckon they’ll work for you.

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It’s not guaranteed of course. Many might fail. But running some simple a/b tests for your emails is cost free, so why not try it out?

This blog is part of Phill Agnew’s Marketing Cheat Sheet series where he reveals the scientifically proven tips to help you improve your marketing. To learn more, listen to his podcast Nudge, a proud member of the Hubspot Podcast Network.

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