In America many people are math challenged. Math doesn’t come easy, and complicated math is even more challenging. When I say complicated math, I am not talking algebra or calculus, rather I am referring to applying percents and fractions. This is the theory of innumeracy. Innumeracy is to numbers as illiteracy is to reading. And while many people struggle with numbers, ironically many marketers’ pricing strategy includes applying percents to calculate the deal. Innumeracy is the topic for this podcast and how it impacts promotional pricing.
In this podcast I break down five mistakes marketers are making in regard to innumeracy. The irony is marketers think big numbers lead to big results. Seems logical, except if people can’t calculate the deal they are not likely to act on it. I will discuss five common mistakes and then offer up four pricing solutions that counter innumeracy in America. The solutions focus on simplifying the math, making it obvious, making it easy to buy, and finally making it highly relevant. The solutions are not overly complicated, rather they are simple strategies to keep the math easy and increase the effectiveness of your marketing.
Episode 18: COVID Shopping: Is this the Dark Ages or a Renaissance for shopper behaviors?
Episode 17: How the mind of Gen Z is key to unlocking success in today’s Scrollable Economy
Episode 16: Three Questions defining the 2019 Holiday Shopper
Episode 15: Amazon versus Walmart: The Billion Dollar Grocery Throwdown
Episode 14: A Twist on Marketing Planning: Reverse ROI meets the Dark Side of the Moon
Episode 12: Eco-Shopping: Why do we want to be green, yet fail to shop green?
Episode 11: How we shop Amazon Prime Day
Episode 10: Branding 2020
Episode 9: Activating the Primal Shopper
Episode 8: Don't Paddle Upstream - Understanding Shopper Flow
Episode 7: Eighteen Primal Principles of Why We Shop
Episode 6: Identifying the Primal Shopper
Episode 5: The Marketing Dating Funnel: Who owns the relationship?
Episode 4: Super Bowl Aftermath: The $5 Million Movement Question
Episode 3: A New Year’s Resolution: Use Marketing to Change the Shopper’s Stripes
Episode 2: Fight, Flight or Buy. The impact of the Holiday Retail Season on your Shopper DNA
Episode 1: Shopper DNA Discovery! A look at our Shopper DNA and how to use it to grow Market Share
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