Neuromarketing Services

Loss Aversion Bias

Why do so many website visitors leave without buying or making contact? How can you use neuromarketing to convert more guests? One proven, time-tested strategy is to create a situation where failing to act causes some sort of loss. Research shows that people react to losing something, time and time again. They also respond positively to marketing efforts which help them avoid losses in the future. This fear of missing out affects the fast-thinking emotional part of the brain, and dates back to the time of early humans. For them losing an opportunity was a life or death situation.

Loss Aversion Bias Neuromarketing

A good example of exploiting the loss aversion cognitive bias is the Black Friday phenomenon. Retailers put highly sought-after merchandise on deep discount for a couple of days after Thanksgiving. Typically, they select a few very popular items and cut prices drastically to attract customers. They add to the effect by offering only a limited stock of these attractive bargains and providing only a brief time for the sale. Those limitations activate people’s fear of losing an opportunity for huge savings and pack the stores with eager customers. Once there, they’re very likely to shop for other items.

There are several ways internet businesses can trigger the loss aversion bias to increase sales:

Don’t Miss Using Cognitive Biases to Increase Sales

Activating the fear of losing out is just one way to trigger action for your internet marketing. Neuromarketing offers multiple techniques that can work together to increase sales, leads and revenues as much as 500%. Every brain-aware strategy you employ should work to amplify the effect of other methods. Businesses that focus on just one concept at a time miss out on the synergy of Neuromarketing that is applied across the board. When you work with a leading neuroscience-based marketing company like ours, you get the maximum benefit of an integrated approach. We understand how to provide the subtle, but powerful, influences that produce the results you need. Contact us today to get started using our proven competition-busting marketing power.

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How can you sell more by triggering customers’ fears of losing? Neuromarketing understand the powerful loss aversion cognitive bias effect. Get a FREE In-Depth Analysis