A/B Testing Idea #288 - If users have spent some resources, e.g. financial or time, in your service, indicate how much they have been spent
People are more likely to continue on in vain with a project or plans for which they have already invested money, time or effort, even if they no longer want to or there may be more potential losses to come. So showing to your customers what they have already invested in time or money will push them to keep investing.
- Autonomy bias (Deci, 1971; Ryan, 2008)
- Sunk Cost Effect (Kahneman & Tversky, 1970; Arkes; Hal R. & Blumer, 1985)
We prefer situations that we have control over.
Sunk Cost Effect
The Sunk Cost Effect proves that people can be influenced in to making irrational decisions based on a perceived loss of money, time or effort already invested in something.
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