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Increase sales by accounting for purchasing power parity in your pricing

Incorporating purchasing power parity into your pricing essentially means providing discounts to people who live in areas where your usual price might be prohibitive. It's a great way to make your product accessible to people all over the world.

It's a trend that's starting to catch on, and not only because it's more inclusive. It fosters strong loyalty and high satisfaction in your customers. And it increases the number of people who are willing and able to purchase your product. 

Of course, there are those who will take advantage of the discounts by using VPNs. But the increase in sales should more than makeup for those. And even if it doesn't, at least you're expanding your customer base. 

To get started, check out the Purchasing Power Parity API or tools like ParityBar or IPstack.

Examples:

1. Gergely Orosz added this kind of pricing to The Tech Resume Inside Out and now it accounts for 30-40% of his sales.

2. Alex Hillman added PPP to one of his products last month and saw a 15% increase in sales. People were so excited and appreciative.

P.S If you are selling using Gumroad, it gives logs of the country of the purchase, so you can always compare with the discount code and see if people have started to game the system or not. 

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Force users to answer a survey when signing up

Email survey is now a passive method. So big companies like Hubspot etc have incorporated the survey in sign-up flow. 

  • To do so, you have to "sell" the questionnaire to the user by headlining the screen "A few questions that will help us identify more opportunities for you". 
  • No skip option.
  • Don't bombard the questionnaire at the start, rather A/B test it at position #3 or #4 sign-up screen. (#1: email and password, #2: Name, job-title and organization website, #3: Questionnaire, #4: Payment details entered and 7-day free trial starts)
  • Remove friction by adding checkboxes or radio buttons.
  • And remember; Surveys help if you are scaling, and there is a huge inflow of signups every day. But at an early stage, qualification could be done by having conversations with the early adopters.
Snippets
  • Headless Recorder is a chrome extension that records your browser interactions and generates a Puppeteer or Playwright script. This is super useful for E2E testing, scraping or any other automation task that requires a headless browser.
  • YC Directory is the official directory to discover YC companies by batch, industry, region, and company size, as well as Black, Latinx, and women founders. It will help job seekers find their next role, and investors + partners find and contact companies that they want to work with. 
  • Pory is a no-code tool for turning your Airtable data into beautiful websites. Perfect for testing ideas, sharing content and building an audience. 
  • Telegram Quote Bot 📚 sends you popular quotes from your 2500 books. All you have to do is choose a book and you will get two notifications daily. I am enjoying it. 
Increase traffic by adding descriptors [in brackets] to your titles

A study of over three million headlines showed that titles with brackets or parentheses got 38% more clicks

For context, here's an example from the study: "A Look Inside Mashable’s Evolution [Interview]". 

Using brackets like this can increase clicks because they include information about the content that may not otherwise be clear. And knowing what to expect tends to make people more confident in taking action. 

As the example shows, this works great for articles. But you can also add things like "(Free Shipping)" to product titles, "[x customers served]" to your company's title tags, and so on.

Worth Reading
1. Grammarly’s marketing strategy: growing to 20+ million users via content marketing
2. Finding an audience for your side business
3. Black Friday isn’t dead. Here’s how to win more online sales
4. Watch Netflix. Learn copywriting
5. Six lessons I learned from Nathan Latka

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