Loss Aversion

Do not discount benefits but tell people what they're missing out on, or what they stand to lose if they don't do what you ask them to.

 

Highlight the painful situations they can successfully avoid if they do become your customer.

 

You want to balance the benefits that you are offering with the losses that can be avoided.


 

Ways to apply loss aversion in your marketing…

 

Indicate how many of an item are left in stock.

 

Tell people that an event may not be repeated.

 

Let people know that the event won't be recorded, so there is no other way to catch it.

 

Inform your customer or prospect that the offer you sent may not be sent to them again.

 

Allow people to preserve their options by telling them they can decide now and cancel later. Rather than having to make a yes or no decision that is final, they can postpone that decision which means that, at least for the moment, they haven't lost anything. Often when people commit, they do not then go back and change their minds (commitment and consistency )

 

Use loss aversion wording like "Take advantage of", "Get in on" and "Don't miss."

 

Highlight deadlines and expiration dates.

 

Offer a free trial. When something is free, it removes the fear of loss.

 

Frame your message in terms of loss instead of gain.

 

Or you could use a declarative sentence that also leans toward loss.


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