We can all agree that we want more sales. But did you know that there’s a word that can help you get more sales, more inquiries, and earn more money?
What’s the word?
It’s “free.”
If you saw a sign in front of a store that said “Free beer” or “Free cake,” you’d go over to check it out. Right?
Why does this work?
It turns out our brains are wired for it. Research conducted by a scientist from Duke University found that people offered a Lindt chocolate truffle for 15 cents or a Hershey’s kiss for 1 cent took the truffle 3 out of 4 times. However, when the prices were reduced 1 cent, making the truffle 14 cents and the kiss free, the numbers changed drastically. This time, over two-thirds of the people chose the kiss.
Free Shakespeare, classical musical concerts, and opera in Central Park attract thousands of people in New York City every year. We stand on long lines to get tickets, or wait for hours to get a good spot on the grass.
It works with fancy cosmetics companies too (spend $35 on face cream, get a tote bag with blush, mascara, and lip gloss for free). You buy the face cream just to get the tote bag full of goodies; even if the colors don’t suit you…you can always give them to a friend.
If someone is handing out free samples, you take them (even if you don’t use the product).
Tomorrow, how to get more business using freebies.