A loss weighs twice as much as a gain. It is therefore more motivating to avoid a certain loss than to achieve a certain profit. This principle is closely related to Cialdini’s seduction principle ‘scarcity’. You really don’t want to miss out on a product that is almost sold out or a discount that will expire soon. Booking.com uses loss aversion. Just look at the example below. I almost booked as I wrote this article…

3. Decoy effect

With the Decoy effect, you add a third option, which ensures that the option you want to steer towards appears the most attractive. In the first example below, €3.50 initially seems expensive for a cup of coffee. In the second example, the same price suddenly seems quite reasonable, because a more expensive option has been added. This way you can control which option you want the website visitor to choose. This third option should be in between the cheap and expensive option in price, but just a little closer to the expensive one.

 

The decoy effect is also often used with subscriptions, as in the example below.

Chief and VP of Manufacturing, Production Email Lists

4. Pain of paying

Most people don’t like spending money. It even VP Manufacturing Production Email Lists activates the same brain region as physical pain. That is why you want to remind the user as little as possible about spending money. You can do this, for example, by omitting euro signs, not making prices too large and by asking for the payment method as late as possible in the ordering process.

Coolblue shows below what the effect is of omitting the euro signs. I have to say it works for me. Luckily I don’t need a new laptop.

5. Anchoring effect

People compare previously available information with information that comes after. The previous information is used as an anchor for the information after it. This is the essence of the anchoring effect. You can use this effect with prices, for example. Show products or services with a higher price first. The prices you show afterwards are compared with the first price and therefore seem to be not too bad. This increases the chance of a purchase. The anchoring effect is also widely used by showing the original price first for discounts . See the example above.

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