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Entry 025 of 93Sourced

Endowment Effect in Demos

Let the buyer handle and configure the product so it starts to feel like theirs before they have bought it.

How it sounds

  1. You Go ahead, enter your own numbers here so you can see it with your data.
  2. Buyer They start configuring their own view in the product.
  3. Result It starts to feel like theirs before they've paid a cent.

The rest of this entry is in the full archive

  • Why hands-on beats watch-me in a demo, in one sentence
  • How to hand over the keyboard without losing control of the demo
  • The trial and setup moves that quietly deepen ownership
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More in Persuasion principles

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  1. Put a defensible number on the table first.
  2. (negotiates relative to that number, even if it was arbitrary)
  3. Frame the option you want against a higher reference point
Full archive
Persuasion principlesSourced

Anchoring

Amos Tversky and Daniel Kahneman, Science (1974)
  1. How do we know this will actually work for us?
  2. Across the last dozen firms we did this for, the bottleneck was almost always X.
  3. They relax, hearing guidance instead of a pitch.
Persuasion principlesSourced

Authority

Robert Cialdini, Influence (1984)
  1. Make the request, then add "but you're free to say no."
  2. (feels their autonomy respected, and agrees more often, not less)
  3. Compliance goes up compared to the same ask without the line
Persuasion principlesSourced

But You Are Free

Nicolas Guéguen and Alexandre Pascual, Current Research in Social Psychology (2000)