Short YouTube clip (September 7, 2023) offering a marketing tip: when you cannot actually speed up a service, reduce perceived wait time to increase customers’ valuation. Uses elevator mirrors as an example to show how tapping human psychology (self-focus) makes waits feel shorter.
Chapters
Here's a great way to trick people into buying whatever you're trying to sell. If I give you two pills and they're exactly the same, except one takes five minutes to cure you and one takes a week, which one are you going to pick? The one that takes five minutes. Right. But what if you can't make your service work faster? Often we run into these physical limitations. You can't speed up how quickly a client gets their tax return back. You can't speed up the American legal system doing legal consulting. You can't speed up the stock market or the real estate market either. But you can absolutely trick people into thinking they're getting results faster by decreasing the perceived time delay. Delay, you're actually increasing the value of your offer. Here's an example. Elevators. People used to get super impatient riding the elevator. So what they did is they put mirrors inside these elevators. So we're just staring at ourselves the whole time. They took advantage of human psychology. We love to look at ourselves and use that to decrease the perceived time delay of an elevator ride. Because I can stare at my gorgeous face. So if you tap into human psychology, you can trick people into thinking your service is getting them results faster than it actually is. Follow for more.