Priming effect in retail marketing
Priming is a controversial concept in behavioral economics. But using it I got a 35% boost in sales. This is what I did.
I stumbled upon the concept of priming several years ago when I was building a startup in retail. I had already opened 4 stores, and though I was constantly looking for new locations, I started thinking of ways to improve the revenue in the existing points of sale. Just like with online businesses, stores did great on the launch day and maybe a month after the launch. But then the trend always started to turn, representing more of a flatline that so much desired up and to the right curvature. Traditional approach in marketing to this — stacking up campaigns. In other words, launch a splashy campaign every month — and you’ll be fine.
I was too busy with opening new stores and hiring people, and I did not have enough resources for stacking up campaigns. As a result, I started looking into unconventional ways of improving the bottomline. That’s how I ended up testing the priming effect.
What is priming in behavioral economics?
Scientifically speaking, priming is a cognitive process that occurs when exposure to one stimulus alters a person or animal’s reaction to a later stimulus. Probably…