Your Next Million With Frank Kern
Stories Made Them Pay 64% More For The Same Product
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:13:06
- More information
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Synopsis
Stories can increase revenue by 376%, but only if you do them right. In one study, scientists proved that adding a fictional story to a cheap spoon on eBay increased its final selling price by 64%. They found the same result with wine, art, and charitable donations (Those used real stories though. They call it the "Rokia" Effect). Stories don't change the product. They change the value of the product in the customer's mind. But it can be hard to come up with them because we think they have to be about us, our amazing accomplishments, or our lives. THEY DON'T. In this video, I break down: The "Value Inflation" Data: Why stories mathematically increase conversion rates by 30%+. The Revenue Spike: Why a specific type of story can lead to 376% more revenue per customer. The Anti-Personal Brand: How to use stories without ever being the "main character." The Danger Of AI: Why purely AI-generated stories usually cause a 62% DROP in trust (and how to fix it). My Story-Based Workflow: How I use AI (Ojoy) for "Deep Re