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Podcast: The Intuitive Customer - Helping You Improve Your Customer Experience To Gain Growth
Episode: I'm in a Pickle: Will Offering Free Products Increase My Sales?
Description: We all love to keep what is ours. As soon as we have possession of something, it becomes part of our "endowment," a fancy word for "our stuff." Psychologists call this the Endowment Effect, and it explains how we value things that we have, even if we got them for free. However, we also hate losing our stuff, even more that we enjoy getting new stuff. Psychologists call this Loss Aversion, and it is the overall concept that explains why your free trial might help increase your sales. Some people would rather pay for something they used...