Interesting research this week.
The sunk cost of time vs money
Loyal customers seem to care more about the amount of money they invest in a brand, than the amount of time they invest. They perceive the cost of earning a reward to be higher when rewarded for monetary expenditure compared to being rewarded for time spent. This changes when they are reminded of the time they have ‘sunk’ into their loyalty.
https://doi.org/10.1177/00222437251353156
Captions on social media
When people view images on social media, they usually have a caption too. Some captions just describe the image, but some provide further information relating in some way to the image. Zitian Adam calls these ‘cation extensions’. She finds that these increase consumer interest and engagement. The lesson? Add plenty of text when posting images on social media!
https://doi.org/10.1177/10949968251352408
Photo by Adam Nowakowski on Unsplash
