He can't handle a budget surplus well
Posted: Mon Dec 23, 2024 5:32 am
If you book a hotel via Booking.com, you can also arrange a rental car in addition to the hotel room. The costs for renting a car will normally fall into the pot for transportation. However, Booking.com places this option when booking a room, so that you rent the car as part of your vacation. As a result, the rental car does not fall into the pot for transportation, but into the pot for vacation, which contains more money. As a result, renting a car will feel less like a big expense for people and they will be more inclined to open their wallets.
So it might be worth offering your products as part of something else, putting it in a different mental pot, like Booking.com offering a rental car as part of a vacation. That way you can force the accountant to put your product in a pot with a bigger budget, making him much less resistant to the purchase.
So if you can manage to get your product into a pot with a bigger budget, your customers will be more likely to pay more money for your product.
Another thing that is special about our imaginary accountant is the way he handles money that he did not expect in advance. Examples of this are lottery winnings, tax refunds or a salary that is higher hong kong mobile number than expected. Because he did not expect this extra money, he did not calculate it in advance and therefore has a budget surplus. This makes this money feel like extra pocket money to him that can be spent without consequences. Take advantage of this by timing offers and advertisements to coincide with tax refunds or lottery draws. This will make people much more likely to buy your product with the 'pocket money' they just received.
Property 3. He is susceptible to influence in estimating the value of products
Another interesting habit of our imaginary accountant is that he uses a benchmark to determine how much value he gets for his money. For each type of product, the accountant has a certain amount in mind that that type of product may cost approximately. He uses this amount as a benchmark to determine how much value he gets for his money. If a product costs less than that amount, the accountant will be happy with the purchase. If it costs more, the accountant will want to see a good reason for it. If you want to keep the accountant (and therefore your customers) happy, you have to take into account the amount that they use as a benchmark for your product.
So it might be worth offering your products as part of something else, putting it in a different mental pot, like Booking.com offering a rental car as part of a vacation. That way you can force the accountant to put your product in a pot with a bigger budget, making him much less resistant to the purchase.
So if you can manage to get your product into a pot with a bigger budget, your customers will be more likely to pay more money for your product.
Another thing that is special about our imaginary accountant is the way he handles money that he did not expect in advance. Examples of this are lottery winnings, tax refunds or a salary that is higher hong kong mobile number than expected. Because he did not expect this extra money, he did not calculate it in advance and therefore has a budget surplus. This makes this money feel like extra pocket money to him that can be spent without consequences. Take advantage of this by timing offers and advertisements to coincide with tax refunds or lottery draws. This will make people much more likely to buy your product with the 'pocket money' they just received.
Property 3. He is susceptible to influence in estimating the value of products
Another interesting habit of our imaginary accountant is that he uses a benchmark to determine how much value he gets for his money. For each type of product, the accountant has a certain amount in mind that that type of product may cost approximately. He uses this amount as a benchmark to determine how much value he gets for his money. If a product costs less than that amount, the accountant will be happy with the purchase. If it costs more, the accountant will want to see a good reason for it. If you want to keep the accountant (and therefore your customers) happy, you have to take into account the amount that they use as a benchmark for your product.