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The Endowment Effect - Conversions Growth

Discussion in 'Copywriting & Sales Persuasion' started by slntdth7, Apr 21, 2014.

  1. slntdth7

    slntdth7 Junior Member

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    The endowment effect is simple, once we have something, we get used to owning it. You can use this for conversions. I research growth hacking techniques and this one came up. I am not affiliated with this blog but thought I would share it http://www.conversioner.com/blog/irrational-behavior/

    I will continue to share the growth hacking techniques/tips I learn as I progress my career on growth hacking for the start up I work for. Any interest in this?

    Basically :
    1.)Free trials work, giving customers 30 free days to try something works.
    2.)Let them know when the trial is almost over they will lose their features.
    3.)Connect your stuff to social networks, so they can share your site. The more personal you are with someone, the more of a relationship they build with your product.

    These are basic things, but learning how to think this way will help to come up with some outside of the box methods to snag those conversions

    I first posted stuff like this in the main white hat board, I now think it belongs in the copywrite forum since the description is: the art of content and the path to conversions.
     
    • Thanks Thanks x 1
    Last edited: Apr 21, 2014