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Happy St. Patrick’s Day! The 2023 NCAA men’s and women’s basketball tournaments officially tipped off this week.
Warren Buffett is getting in on the action with an enticing offer for his employees. Anyone who perfectly picks every first-round game will win $1 million. So if you have any friends at Berkshire-Hathaway, now’s the time to offer some friendly hoops advice.
It’s a pretty safe bet for Buffett. The odds of actually winning are crazy small. See for yourself…
Here’s your full rundown this Friday morning…
Skip Ad - Netflix Ad-Supported Tier Hits 10M Users
Hacked - 720 Million Passwords Leaked
Reeling - Meta Pauses Monetization For Reels
Entrepreneurship - The Art of “Fast Decision Making”
Value Up - 2 MORE Tips For Boosting Perceived Value
Today In History: On March 17, 1762, the world’s first St. Patrick’s Day Parade was held in New York City. No word on whether green “beverages” were served…
Lurn Bytes: Your Daily News Download
Netflix Ad-Based Accounts Top 10 Million - This week, Netflix announced it expects to have 10 million users on its ad-supported accounts. These users pay only $6.99 a month, but see ads while using their accounts. By 2027, that number could hit 35 million. Not a bad audience size for those looking to advertise…
Hackers Leaked 721 Million Passwords - A new report indicated that over 720 million passwords were leaked by hackers in 2022. Even worse, the research indicates 72% of those passwords are still being used. Now’s the time to update your security features…
Meta Hits Pause On Monetization of Reels - Bummer. Meta had been making a big push to pay Reels creators based on the engagement they were getting on their videos. Well, that came to a halt this week as the company says it needs to reevaluate the process…
How He Used "Fast Decisions" to Sell $40M Online
According to Anik, Robby Blanchard has a super-power unlike anyone he’s ever met. He makes incredibly FAST decisions as an entrepreneur.
And he’s got this fast decision making down to a science. Now, don’t get us wrong, not every decision he makes is a 100% success - he is human after all.
But because he’s worked hard on this decision making process, he’s been able to build his company to roughly $40 million in sales in the last 3 years.
According to Robby, a big part of that success is owed to ONE decision he made along the way.
Robby dove deep into that specific decision on this week’s podcast, and how he’s turned decision making into one of his biggest strengths.
Entrepreneur Stat Of The Day
33%
That’s the number of email users who open an email just because the subject line was “catchy,” according to LocaliQ.
2 MORE Ways to Boost Perceived Value
Yesterday, we shared 3 tips you can use to immediately boost the perceived value of your products or offers.
Today, we’re back with 2 MORE super simple strategies you can implement ASAP.
Let’s not waste another second!
#1: Overwhelming Social Proof
People are ALWAYS looking for reviews from other people who have purchased from you in the past.
They don’t want to see negative feedback.
Instead, perceived value increases when consumers see 5-star reviews and ongoing purchase activity by other consumers.
So, your page should…
Show customer reviews
Show that others are buying this product now
Both of these make people feel safer when buying from you.
#2: Create Urgency
Nobody wants to miss a great deal.
Think about it.
If your friend came home and said they got 50% off of an iPhone and that there’s only two hours left to get the deal, what would you do?
You’d run out the door to get the iPhone!
Urgency is a powerful tool companies use to encourage people to purchase in the moment, and one of the easiest ways to add a sense of urgency is to add a countdown timer to your purchase page.
Just make sure the urgency is legitimate.
ICYMI - The Biggest Stories You May Have Missed
TikTok Introduces 20-Minute Video Feature - The hallmark of TikTok is its super-short videos. They’re so engaging that almost every other platform has copied the format. So what does TikTok do? They’ve just introduced a new 20-minute video feature for select creators.
Do You Have a Growth Mindset? Find Out - One of the most overlooked aspect of success is your mindset. Creating a “growth” mindset is absolutely essential if you want to scale your business. That’s a simple fact of entrepreneurship. Here’s how to tell if you have a growth mindset, and how to change your mindset for success…
Bipartisan Legislation Moves TikTok Ban Forward - Apparently there is one thing American politicians can actually agree on: they don’t like TikTok. A new bipartisan bill was introduced this week that could allow the government to significantly restrict, and even ban, platforms like TikTok.
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