the Endowment effect

When we own something, we tend to value it more highly. If we have to sell it, we want more than it is really worth.

• your customers attribute a higher value to things they already own
• ask for their feedback/suggestions and involve them on social media to increase their ownership in your product

Reciprocity

We feel obliged to give back to people who have given to us.

• give something valuable to get something in return

Consistency principle

We like to keep consistent what we think, say and do, and will change to ensure this is so.

• help current users/potential users create an expectation of what they may say or do

The foot-in-the-door method

When asked to make a small commitment first, we are more likely to agree to a larger request later.

• The more frequently a customer opens your emails, downloads your content or goes along with your request, the more likely they are to comply with a larger request like sharing your content & inviting their friends.

Framing effect

We react to a situation differently depending on whether we perceive the situation to be a loss or a gain.

• the words you choose and the way you frame your content has a direct impact on how they will react
• frame things in a positive light

Loss aversion

We feel the negative effects of loss more strongly than we feel the positive effects of an equal gain.

• discover their challenges and reservations