In business, the way you phrase something can have a huge impact on how successful it is.
Guy Kawasaki spoke with one of the authors of Yes! 50 Scientifically Proven Ways to Be Persuasive to find out how any business can make its offers more appealing to customers, over at OPEN Forum:
Don’t offer too many choices. Whether it’s the number of products you offer or the number of plans you allow your employees to choose from, too many choices often frustrate people. Companies offering a small number of retirement plans have far greater enrollment than companies that offer a large number of plans….
Losses are more persuasive than gains. Instead of telling your audience what they stand to gain from taking your advice or buying your product, research shows that people are often more persuaded if you tell them what they stand to lose out on if they don’t take your advice or buy your product. In 2003, the Oldsmobile far exceeded it sales projections despite the company reducing its advertising and product development budgets. Why? General Motors decided to discontinue the car because of slow sales. As a result the car became something people would be losing out on even though before the news few people wanted one.
Make people feel as if they’ve already made progress toward a goal. A car wash offering a loyalty card nearly doubled customer retention by changing their offer from “Buy eight washes, get one free” to “Buy 10 washes, get one free—and we’ll start you off by crediting you for two washes.”
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