OPW - Nov 18 - Professor Dan Ariely is my favorite behavioral economist. He wrote Predictably Irrational and The Upside of Irrationality, and has done some significant research working with some leading idating companies. He's toying with probabilistic promotions right now, with Associate Professor Nina Mazar. So what would a probabilist promo look like for your dating site. Try this with A/B testing. Offer users a Xmas 10% break on monthly membership. Test against offering users a 10% chance at a free month for Xmas. Lets let Professor Ariely know how it goes.
If you like the idea of learning more about Behavioral Economics, check out these books.
Smart Pricing: How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability
Secrets of the Moneylab: How Behavioral Economics Can Improve Your Business
Game-Based Marketing: Inspire Customer Loyalty Through Rewards, Challenges, and Contests
