Chapter
Marketing Strategies and Wine Industry
46:08 - 53:16 (07:07)
The speaker discusses how people buy expensive things just to feel good about themselves and how important it is for industries to convert customers at a higher rate and a higher dollar amount, particularly in an industry like wine which has low margins.
Clips
The guest speaker explains how people are willing to spend more money on things like wine and sushi to feel like they are buying a higher quality item, and discusses how companies use psychology to try and get people to buy healthier options at restaurants like Panda Express.
46:08 - 47:47 (01:38)
Summary
The guest speaker explains how people are willing to spend more money on things like wine and sushi to feel like they are buying a higher quality item, and discusses how companies use psychology to try and get people to buy healthier options at restaurants like Panda Express.
ChapterMarketing Strategies and Wine Industry
EpisodeSteph Smith On Anti-Cheat Businesses, Ethical Hackers, and 5 Business Ideas With High Demand & Low Supply
PodcastMy First Million
A platform for A/B testing on Uber Eats could provide restaurants with the opportunity to increase their conversion rates and cart size, making a meaningful impact in a low-margin industry.
47:47 - 51:38 (03:51)
Summary
A platform for A/B testing on Uber Eats could provide restaurants with the opportunity to increase their conversion rates and cart size, making a meaningful impact in a low-margin industry. With simple tests on different versions of the physical menu, restaurants could optimize revenue on delivery platforms like Uber Eats and DoorDash.
ChapterMarketing Strategies and Wine Industry
EpisodeSteph Smith On Anti-Cheat Businesses, Ethical Hackers, and 5 Business Ideas With High Demand & Low Supply
PodcastMy First Million
In this podcast snippet, the guest speaker highlights an innovative and successful restaurant advertising strategy – creating a 'clone' of the brand and promoting it through strategic partnerships with other businesses.
51:38 - 53:16 (01:37)
Summary
In this podcast snippet, the guest speaker highlights an innovative and successful restaurant advertising strategy – creating a 'clone' of the brand and promoting it through strategic partnerships with other businesses.