Maybe buying that house is a good idea. Maybe reading that book will be useful. Maybe dating that person will turn out to be the best decision ever. Maybe wearing that suit today will help me get the job Life is full of unknowns, so we have to gamble. But, because we aren’t stupid, we do our best to stack the odds in our favor. may-the-odds You knew that meme had to be coming, right? As marketers, it’s important to understand that there is some level of perceived risk to every activity. Every decision requires a commitment of some sort and commitments are a risk.
So, if you want someone to decide Whatsapp Database that what you’re asking them to do is worth the risk, you need to assure them that they are making a safe bet. HOW TO USE THE PELTZMAN EFFECT IN YOUR MARKETING As a marketer, you automatically start in the high-risk corner of your customer’s risk-benefit calculation. Maybe your offer is as good as you say it is, but it’s hard to believe someone who gets paid to talk about how awesome their offer is. Fortunately, there are a few ways to decrease the perceived risk associated with whatever you’re trying to get a potential customer to do.
Here are a few ideas: INCLUDE GREAT TESTIMONIALS If you use them correctly, testimonials are one of the easiest ways to take advantage of the Peltzman effect. People might not trust you to be honest about your business, but if other people took a gamble on your offer and were pleased with the results, then your offer must be a safe bet, right?. Unfortunately, because they are so easy to put together (or even fabricate), testimonials often don’t carry a lot of weight. If you want your testimonial to be believable, you need reputable, verifiable sources.