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316 Why Your Middle-Priced Product Sells Best: The Compromise Effect Explained

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Manage episode 488093050 series 3307093
Content provided by Corinna Bench. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Corinna Bench or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Have you ever noticed how your mid-tier product seems to sell the best? That’s not an accident. This week I was researching pickleball memberships at Toledo Pickleball Club! And I noticed that I was drawn to a specific "tier" of membership from all the choices. And although it wasn't cheap, I still felt good about spending that much. There’s a fascinating bit of sales psychology called the "compromise effect"—and today, we’re going to unpack what it is, why it works, and how you can use it to increase sales of specific items in your farm's product suite. Your homework is to practice what you learn in today's episode and create 3 tiers of offers for this upcoming weekend. See if it doesn't double your sales!! Podcast Sponsors: Local Line:

Local Line is my preferred e-commerce platform for farmers. Are you looking for a new solution for your farm? I can't recommend it enough. Easy-to-use inventory management, great customer service, continuous improvement, and a culture dedicated to equipping farmers with marketing expertise. Local Line is offering a free premium feature for free for one year on top of your paid subscription. Claim your discount by signing up for a Local Line account today and using the coupon code: MDF2025. Head to my special affiliate link to get started: www.mydigitalfarmer.com/localline

Farm Marketing School:

Marketing doesn’t have to feel overwhelming! Farm Marketing School is my step-by-step system for building a profitable farm marketing plan. Inside, you'll get access to bite-sized marketing projects like:

  • 📆 Creating a promotion calendar that drives consistent sales
  • 🛠️ Setting up & optimizing your Google Business Profile
  • 📧 Writing high-converting emails (nurture, promotions, onboarding)
  • 🗣️ Collecting & using customer testimonials effectively
  • 🔍 Auditing & improving your sales funnel
  • 💬 Monthly live coaching calls for answers to your burning questions

Each project includes a workshop and step-by-step plan so you can take action and see results without the overwhelm. Join here: 👉 www.mydigitalfarmer.com/fms (Cancel anytime!)

Helpful Links Mentioned in This Episode

The NEW Social Media Planning Project launches live in Farm Marketing School, starting June 1st. Join us inside as we play in the social media sandbox, practice certain posts, and along the way, BUILD OUR 30 - Day Social System we can re-use every month!

What email provider do I use? I recommend Kit.com (formerly ConvertKit.com) -- it is easy to use, powerful, and getting better every year. It also integrates with most e-commerce providers and tools. Use my affiliate link!

Follow me on Instagram: @mydigitalfarmer

Episode 311 of the My Digital Farmer Podcast with Stacie Edwards was referenced in today's show. Stacie uses a LOT of store categories, and I read off ALL of them in this episode to give you inspiration for your own. I suggest you combine this tip with the idea of creating 3 tiers within your different categories, to point to the comromise offer.

Join My Email List: Get weekly farm marketing tips delivered straight to your inbox. Sign up at www.mydigitalfarmer.com/subscribe.

Want more farm marketing strategies? Visit my full resource library at www.mydigitalfarmer.com

💛 Support the Podcast:

Love the My Digital Farmer Podcast? You can help keep the show going!

  • Subscribe on your favorite podcast app so you never miss an episode.
  • ⭐️ Leave a Review on Apple Podcasts—it helps other farmers find the show.
  • Share this episode with a fellow farmer or small business owner.
  continue reading

318 episodes

Artwork
iconShare
 
Manage episode 488093050 series 3307093
Content provided by Corinna Bench. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Corinna Bench or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Have you ever noticed how your mid-tier product seems to sell the best? That’s not an accident. This week I was researching pickleball memberships at Toledo Pickleball Club! And I noticed that I was drawn to a specific "tier" of membership from all the choices. And although it wasn't cheap, I still felt good about spending that much. There’s a fascinating bit of sales psychology called the "compromise effect"—and today, we’re going to unpack what it is, why it works, and how you can use it to increase sales of specific items in your farm's product suite. Your homework is to practice what you learn in today's episode and create 3 tiers of offers for this upcoming weekend. See if it doesn't double your sales!! Podcast Sponsors: Local Line:

Local Line is my preferred e-commerce platform for farmers. Are you looking for a new solution for your farm? I can't recommend it enough. Easy-to-use inventory management, great customer service, continuous improvement, and a culture dedicated to equipping farmers with marketing expertise. Local Line is offering a free premium feature for free for one year on top of your paid subscription. Claim your discount by signing up for a Local Line account today and using the coupon code: MDF2025. Head to my special affiliate link to get started: www.mydigitalfarmer.com/localline

Farm Marketing School:

Marketing doesn’t have to feel overwhelming! Farm Marketing School is my step-by-step system for building a profitable farm marketing plan. Inside, you'll get access to bite-sized marketing projects like:

  • 📆 Creating a promotion calendar that drives consistent sales
  • 🛠️ Setting up & optimizing your Google Business Profile
  • 📧 Writing high-converting emails (nurture, promotions, onboarding)
  • 🗣️ Collecting & using customer testimonials effectively
  • 🔍 Auditing & improving your sales funnel
  • 💬 Monthly live coaching calls for answers to your burning questions

Each project includes a workshop and step-by-step plan so you can take action and see results without the overwhelm. Join here: 👉 www.mydigitalfarmer.com/fms (Cancel anytime!)

Helpful Links Mentioned in This Episode

The NEW Social Media Planning Project launches live in Farm Marketing School, starting June 1st. Join us inside as we play in the social media sandbox, practice certain posts, and along the way, BUILD OUR 30 - Day Social System we can re-use every month!

What email provider do I use? I recommend Kit.com (formerly ConvertKit.com) -- it is easy to use, powerful, and getting better every year. It also integrates with most e-commerce providers and tools. Use my affiliate link!

Follow me on Instagram: @mydigitalfarmer

Episode 311 of the My Digital Farmer Podcast with Stacie Edwards was referenced in today's show. Stacie uses a LOT of store categories, and I read off ALL of them in this episode to give you inspiration for your own. I suggest you combine this tip with the idea of creating 3 tiers within your different categories, to point to the comromise offer.

Join My Email List: Get weekly farm marketing tips delivered straight to your inbox. Sign up at www.mydigitalfarmer.com/subscribe.

Want more farm marketing strategies? Visit my full resource library at www.mydigitalfarmer.com

💛 Support the Podcast:

Love the My Digital Farmer Podcast? You can help keep the show going!

  • Subscribe on your favorite podcast app so you never miss an episode.
  • ⭐️ Leave a Review on Apple Podcasts—it helps other farmers find the show.
  • Share this episode with a fellow farmer or small business owner.
  continue reading

318 episodes

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