Yes, You Can Sell $1 For More than a Dollar
Take a group of people and auction one dollar at five cent increments. Now, add a twist: the high bidder wins, but the second highest bidder also has to pay whatever they bid (but gets nothing). Studies have shown bids for that $1.00 will almost always exceed one dollar. That’s a fundamental tenet of strategic marketing and understanding it may keep you from blowing your marketing budget. Learn about thinking forward and reasoning backwards by downloading our newest white paper Yes, you can sell $1 for more than a dollar.