Why your potential customers never leave their p*** poor quality current supplier?
As Kylie Minogue would say in her lyrics of the 90s hit Better the Devil you know.Sometimes familiarity keeps people with their current supplier.
And not their actual performance.
The worst thing is that customer will stay with a poor supplier.
I’ll forgive and forget
If you say, you’ll never go
‘Cos it’s true what they say
It’s better the devil you know
Kylie Minogue-Better the Devil you know
And there is nothing that can persuade them to switch to you?
Why?
This can be attributed to the endowment effect.The endowment effect is where people place a higher value on the current product or relationship they have.
You will probably hear reasons such as:
It is too much hassle
It is too costly
At least I know where I stand
These reasons sound like they are difficult to jump over.But these are just objections. And your copy can answer these objections.
When looking at the endowment effect, things such as letting people have a Free 7 Day Trial.
If people feel your free trial has been a success for them, they will do their upmost to keep their successful trajectory.
However you must follow up with a message such as:
“We hope you enjoyed your trial to x thing, to make sure you continue to be subscribed to x then sign up before x date or else your subscription will end”
This message above suggests that they will lose your great product or service. This will trigger a feeling of loss aversion and they will continue to remain subscribed.
Making people switch from one supplier to you can take a variety of nudges. However, your aim is to stop them saying:
“Better the Devil you know”.
