Understand Your Buyer > How People Work > The Abundance Effect
What is it?
We are more likely to buy things that include lots of items because it feels like better value for money because we are getting “more”.
Why does it work?
It works because as buyers we are always looking for the best deals and the best value. An offer which has 50/50/100pcs or a service with a long bullet point list of sections is more appealing as we are getting more and thus it must be better value.
Often we don’t need or use these extra items, but are happy to have them anyway and don’t feel like we’ve wasted our money because you never know when you might need them…
What can you do about it?
Whether you have a product or service, consider itemising every single part of your offering and go into as much detail as possible. This extra detail will encourage buyers that they are getting “a lot” for their money and will increase the chances they will buy.
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