Very interesting article. For many consumers, a shorter, simpler explanation will make it a lot more likely that they’ll want to buy your product. Here’s the money quote:
The authors found that consumers would be willing to pay more for a premium product, but only if the explanation for its premium qualities made sense to them. Again, reflective people were more willing to pay extra if they got a detailed explanation, while the less reflective people liked the simple explanation best. In fact, for the second group, willingness to spring for a premium product dropped as the explanations got more complex.
Food for thought. I’ve definitely experienced this firsthand at Dig Inn – we’ve been running our business on makeshift spreadsheets for years. We’re getting better, but only because I’m personally invested and committed to it (and I appreciate the long-term benefits to using better technology). But there are very few people like me working at most small businesses, especially in the restaurant business. Makes it really tough to grow a software business in this space.