Why People don’t Value Things they Get for Free

Why People don't Value Things they Get for Free

There is a very interesting story of a person who had just started a small business. Friends would often ask him to offer a free course when his business initially started doing well, and he always said yes. He was reared in a society where people help one other for free and expect nothing in return. If you work as a college guidance counselor, you probably read all of your nieces and nephews’ college entrance essays. If you’re a doctor, this implies your auntie will drop off her X-rays for your second opinion. He had no qualms about granting them access. He didn’t care if he captured all the income. Plus, adding another email address to the user list didn’t cost him anything, so why not?

But he’d constantly keep an eye on them to check whether they’d logged in. Can you figure out if they did or didn’t? No, and this makes us think that people place a high value on what they pay for. This seems self-evident, but he didn’t absorb it until it happened repeatedly. They didn’t even log in once after he gave them a $2,000 course for free. He began to feel a bit resentful after a time. This is his company. This is what he does, and they don’t even give him a chance.

This looks like the way that the promotions or bonuses are used, however, there are also some differences as well. The financial market branches often offer their clients ways to promote their services, for example trading Forex with a demo account but some details should also be taken into consideration. For those, who are already interested in the market activity, this is a great offer, however, for those who have never considered trading, it might be eye-catching or vice versa.

He attempted to think of new methods to persuade them to put some money on the table. It was crucial to him that people didn’t believe he was greedy or that he was only interested in the money. But he also wanted them to be serious about it. He attempted to persuade them to contribute half of the sale price to charity in exchange for the course. As you would expect, that was a complete disaster. He eventually gave up and stated, “Look, I want to offer you this stuff.” anytime someone requested a free program. I’m confident it will be beneficial to you. It’s not about the money, but if people don’t pay, it’s because they don’t appreciate it.”

He stated that this was his source of income. He makes his living doing this, and he’s quite excellent at it. So, if anyone was interested, he would gladly offer a spot in this course for them. It’s now closed, but I’ll open one for you. But, like everyone else, he’d have to ask for the whole price.”

What do you believe transpired? The majority of those who wanted it for the free left. People that replied, “OK, I’ll do it,” nevertheless, went through each and every lesson in the course. And it was the turning point.

People Place a High Value on What they Pay for

The story continues so that the person made even more profits than he imagined he would. The one-month price for the course was $2,600 and many people even paid for the three-month courses. This means that people valued his work and wanted to become involved in it.  He also shared the recommendation from his own statistics that of all the individuals who receive free emails, those who have purchased anything are 5 times more likely to open them than those who haven’t. That indicates they’re opening each email many times, despite the fact that the average email open rate on a normal list is about 15-18%. It’s a significant distinction. Recognize that individuals place a high value on what they pay for. By charging them, you’re not doing them a disservice; rather, you’re providing a valuable service to those who want to take action.

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