“It’s the biggest game of the year: Florida State vs. Miami in Tallahassee this Saturday. Thankfully, I will be in attendance to cheer on the Seminoles. What I’m equally thankful for is that I didn’t have to pay much for the tickets (about the price of a nice dinner), despite the selling of tickets from anywhere between 200 and 600 dollars. I certainly was not willing to pay this price for a ticket, but now that I have one I am also not willing to sell it at those prices.”
The above words were written by a Florida State alumnus, Greg Goelzhauser. What a huge discrepancy in thinking, don’t you think? Greg is not willing to spend 200 bucks for his tickets because he thinks it’s insanely expensive and yet he isn’t willing to sell his tickets for 600 bucks!
Why would he act in such a manner?
The reason is quite simple. It is emotionally painful to part with something you like. Greg couldn’t justify parting with 200 of his hard earned money “just on a game.” But when he had the tickets in hand, he could not part with it even at exorbitant prices.
° Remove people’s hesitation in buying by giving them a free sample of your product. Once they try your product, they won’t be able to part with it easily. If the product sample satisfies them, they will buy a lot more.
° Try to make people feel connected with your product and your company. When people feel connected and involved with your company, they will be extremely loyal to you and it will be hard for them to part with your products even at higher prices.