December 12, 2012 by Christian Schappel
Posted in: communication, In this week's e-newsletter - Sales & Marketing, Latest News & Views - Sales & Marketing, online marketing
You’ve heard it before: Products sell better when there’s a good story attached to them. But did you know a well-written story can also increase their monetary value in the eyes of customers?
For proof, pop over to SignificantObjects.com.
The site was created as part of an experiment to test the effect of a narrative story on an object’s value.
In the experiment, thrift-store and yard-sale objects were given a colorful, and fictional, background story and auctioned off on eBay. All proceeds went to charity.
SignificantObjects.com recaps the performance of each item sold.
On average, the original price of each item was $1.29. Then after being attached to a lively story, the average resale price grew to $36.12.
One of the site’s biggest success stories: One 99-cent snow globe ended up selling for $59 with a story – a 2,706% increase in value.