Sunday, October 25, 2015

Why 'limit' a good thing? Limited and one time offers explained

Have you ever found yourself enticed by a limited or one time offer?  This is a persuasion technique that salesmen often use to entice us to buy stuff we really could do with not buying but I will explain how this also works for scammers.

One time or limited time offers are usually discounted and therefore present a 'good deal' but if they didn't have 'limited time' attached to them, we could go about our business and not buy it, the reasoning being that you can always come back tomorrow and buy it, or next week, or next get the drift.  But once there is a time limit attached to it, it becomes a bit more pressing, as we need to make a decision about buying straight away, or at least in the short time frame.   By the mere fact that there is a time limit on it, the thing in question becomes scarce (or at least scarce at that price) and scarcity will entice you further.   We are hard wired to go crazy when we think something is scarce.  This is ingrained in us and it is an evolutionary tool that helps survival of the species.   In the olden days food was scarce and people ate lots when there was a chance to eat and starved when there was nothing to eat. In the modern age, this is no longer a concern but the instinct to grab something that is scarce with both hands is still prevalent.  And scammers and sleazy salesmen exploit this. 

What limited time offers do is put a rush on our decision making.   You could go home and think about it but then you might miss the offer.  When we are strapped for time our decision making process suffers because our brain makes shortcuts.  Instead of evaluating the deal, the quality of the item, the use, the daily need for it... we focus on the time limit and the good price, sometimes also on the person selling it to make our decision. The more likeable you find the salesmen, the more likely are you to think favourably of the product.  This fact is true of any sale but it is particularly true in situations when you are put in the position where you need to decide on the spot.  And they are trained to remind you of all the 'good' things about the product and forget the 'bad'.   And let's face it, how many times have you found that a one time offer you went for is back next weekend or next month or is available all the time? 

So next time you come across a limited time offer, just remember that this is a technique used to trigger our primal behaviour, which will then override any reasoning regarding the product.  Just knowing this may allow you to walk away until you thought about it.  Sometimes even saying to the person who is selling the product; "Let me think about it while I complete my shopping" will be enough for you to detach from the situation and think about it rationally.  You can then always come back to it if you still think it is a good idea. 

Have you been affected by a scam? I am currently researching what makes us vulnerable to scams. Please help me by filling the survey - CLICK HERE

No comments:

Post a Comment