How To Sell a Dog (and Anything Else)
- Loan the dog to the potential buyer for a week.
- Done.
Hooooooraaay!
The psychological effect:
- We value something more when we can create a sense of owenership around that thing.
For instance:
- Bob gives his Toyota a $10K value.
- Sam gives Bob's Toyota an $8K value.
- Bob, because he values his things more, places a greater value on his items.
A Duke research study, according to behavioral economics expert Dan Ariley, found that those who won lottery tickets to Duke basketball games were willing to sell their tickets for $1800; others who had no tickets were willing to pay $350 to get them.
- Own it.
- Value it more.
Selling something?
Try these:
- 30- day trials
- Loan X free
- Money-back guarantees
- Test drives
- Etc.
Lucrative infomercials freakishly promote their money back guarantees because:
- Emphasizing guarantees help get those products into the hands of peeps.
- So, when peeps have those items, they start creating a sense of ownership around those products.
- Therefore, they place higher values on those items (more than the $19.99 they spent), and end up keeping them.
SHABAMSONNOWYOUTHESTAR
Create ownership.
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Posted December 06 in Sales & Marketing |
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6 Comments
on "How To Sell a Dog (and Anything Else)"mniffirg (Rank: #7)
I had to read your shabam line like 4 times before I figured out what it was supposed to say lol.
This post has some great merit though.
A lot of companies use the free trial or refund to suck people in and it does work well.
zanderli (Rank: #5)
LOL! That dog one was a great example, no one can give back a pet after having it for a while. I actually had this discussion with someone recently. He gives out his product with a two week trial before payment is due. I thought that might be risky but he seems to have a very low return rate.
bloominglater (Rank: #67)
Most excellent...for trizle!
jseyah (Rank: #11)
i agree bloominglater, this was a good one. i know that i personally don't buy into things just because i get a free trial but i've seen this employed by a lot of people.
shahabudeenjalil (Rank: #876)
don't sell a dog.
adon (Rank: #31)
I would love to be able to do this, but when you build custom products you can't :/