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19

People Are More Afraid Of Losing Than Winning (Loss-Aversion)

The pain of losing is psychologically about twice as powerful as the pleasure of gaining, known as the Loss Aversion principle.

When people win 100k they feel happy, but the emotional pain experienced when losing 100k is much stronger. This technique is widely used in marketing by offering a free trial and eliminating access so it feels like a loss.

On your site, you can apply this principle in many ways. Many sites use it to frame a headline from a loss aversion point of view. Instead of saying “receive weekly updates” you could say “don’t miss any updates”, which implies people will lose something.

loss aversion

Conversion tip from:

Gijs Wierda

Gijs Wierda

Conversion specialist

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Done&Tested shares conversion rate optimization tips with digital marketers, designers and business owners. Each week I add a conversion tip or insight I love, or just blows my mind. All tips are meant as inspiration and I recommend split-testing them because they might not work for your audience. I work as a freelance conversion specialist. Would you like to share a tip as well? Drop me an email here.

Gijs Wierda

Gijs Wierda