Recommended reading this week.
Science Says – Vouchers or free gifts
Psychological insight: Sometimes products are purchases with an accompanying accessory or free gift. Thomas McInlay explains that it’s better to offer vouchers for low-value gifts, but to offer the actual gift directly when it has a high value. This is because gifts are compared to the value of the main purchase i.e. low value gifts don’t appear attractive, although direct comparison is less likely for vouchers.
https://app.sciencesays.com/p/when-to-use-vouchers-vs-free-gifts-for-promotions
Choice Hacking – The IKEA effect
Psychological insight: This is a nice summary of the IKEA effect, focusing on the Betty Crocker example – allowing customers to make their own cake by adding eggs. Customers value products or services when they invest some of their own effort in their creation.
Photo by charlesdeluvio on Unsplash
