How Coupons Make You Buy
- $10 off.
- No deadline.
Shishkabob: Wut wut wut. I can get that later.
- $10 off.
- Deal ends Friday.
Shishkabob: BAMMMMMMM! I WANT! I WANT! I WANT! OMG OMG OMG
Loss aversion.
We prefer to avoid loss over achieving gain.
- It's why we scour the web endlessly for a $5 Amazon coupon.
- It's why we drive ridiculously far to "save" $2 in gas.
- It's why we stand in crazy lines to get cheap deals.
A coupon with a short deadline tells us:
- HEY! I have to get this now or I'll lose it forever! OH NO
Coupons that win emphasize their deadlines, and higlight the benefits the prospect will lose if s/he doesn't act before some date.
NO LOSS.
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Posted on January 20