1) Competing on price is one of our least favourite ways to win customers. Anchoring on the other hand can be used to highlight the point of difference of your product. Whether it be the presentation, the quality, a healthy ingredient or lack of a bad one. In the same way that seeing a $1,000 jacket reduced to $500 makes it appear to be a bargain, psychologically (in comparison to if it were just $500 to begin with), you can use anchoring to educate consumers and position yourself as the clear winner. A great example of this would be an Acai bowl for instance. Often marketed for their health benefits, customers are often unaware that they tend to be packed with sugar. If yours has less sugar than others, is sweetened with stevia or not at all, anchoring can be used to highlight this. "Did you know that Acai bowls often contain up to 4 tablespoons of sugar? With no refined sugar, our bowls are guilt-free so you get all the health benefits of the anti-oxidant rich berry, guilt-free.
2) Stories are a great way to connect with your customers emotionally. Particularly if your core values align with that of the community. Have a story about the product? How you came across it? Did you try it during your travels in Brazil and absolutely need to share it with your locals at home, who also shared the same zest for life? Perhaps it is a story of how your mum always wanted to have her own Cafe but was unable to realise it until you stepped in?
3) Creating an illusion of scarcity is an incredibly powerful tool. We know psychologically that people respond strongly to a 'fear of missing out. Limited edition versions can pique interest, a buy 1 get 1 free offer for the first 20 customers. Just ensure you don't make it seem unattainable.
