Hyperbolic Discounting: How to Use This Psychological Bias to Sell More

Hyperbolic Discounting: How to Use This Psychological Bias to Sell More

Monday morning.

I’m groggy, tired, and in dire need of coffee. It’s time to make the first decision of the day:

Should I make coffee at home or buy a coffee?

As I’m weighing my two options, my phone lights up with a notification — it’s from Starbucks.

Limited time! Purchase a beverage and get a free pastry.

Oh boy! Here’s where the justification process kicks in. If I buy a coffee now, I’ll also get free breakfast. That’s too good of an offer to pass up.

I open the Starbucks app and look at the number of rewards points

…

Sales Route

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By: Sales Roadmap
Title: Hyperbolic Discounting: How to Use This Psychological Bias to Sell More
Sourced From: salesroadmaps.com/hyperbolic-discounting-how-to-use-this-psychological-bias-to-sell-more/
Published Date: Wed, 10 Mar 2021 18:45:00 +0000

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source https://salesroadmaps.com/hyperbolic-discounting-how-to-use-this-psychological-bias-to-sell-more/