Which kind of promotion gets you to spend more—a 50% off discount or a “Buy One Get One Free” offer? The short answer: a Buy One Get One Free offer performs better than its economically equivalent 50% discount. The longer answer: a Buy One Get One Free offer performs better than its economically equivalent 50% […]
loss aversion
What causes loss aversion?
In my first week of my first marketing job, my boss told me something I’ll never forget: There is one thing that motivates people more than anything else: the fear of loss. He’s right. People go to great lengths to avoid a loss. In ten years of working in marketing, I have found that appealing […]