Clickipedia: Loss AversionPOSTED ON 7 September 2012 BY
What it is: The strong preference to avoid loss over gaining something new.
Why it matters: Studies have suggested that people are affected nearly twice as much by a loss than an acquisition of the same value.
How to use it: Instead of proving the benefit of your product or service on your website, you could illustrate how much harder life could be without it. By A/B testing this change, you can measure the effect of leveraging your visitors' loss aversion—and potentially increase conversions.
Brooks Bell is the industry's leading online conversion firm. We help large online retailers and subscriber-supported companies maximize their online sales funnel by testing and optimizing all points in the conversion path.
Sign up for the
Brooks Bell Newsletter