Test small design details in your offer, because they can matter as much as price
Updated: Oct 11
Small details in an offer moved demand as much as a big price change.
The study. Economists from Chicago, Yale, Harvard, Princeton and Dartmouth worked with a South African lender. The lender mailed about 53,000 loan offers with random changes in the design and the interest rate.
The finding. For men, a photo of a woman on the letter raised take-up by about as much as a 25% cut in the interest rate. A letter with one example loan worked better than a letter with many examples.
Why it matters. Teams spend a lot of time on price. This study shows that small design details can move demand as much as a large discount, and they cost almost nothing.
The takeaway. Test simple design changes in your offers: fewer options, a clear photo, one example. Do this before you cut your price.
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