Low Cost Marketing Advice: Improving Your Customer Experience

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How well are you delighting your customers?

In this Monday Morning Marketing Quote, I talk about the endowment effect, which states that we value our own possessions more than other people do. Today's marketing advice comes from Dan Ariely and his book, Predictably Irrational.

"Why does the seller of a house usually value that property more than the potential buyer? Why does the seller of an automobile envision a higher price than the buyer? In many transactions why does the owner believe that his possession is worth more money that the potential owner is willing to pay? There's an old saying, 'One man's ceiling is another man's floor.' Well, when you're the owner, you're at the ceiling; and when you're the buyer, you're at the floor." -- Dan Ariely

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Education

Tags:

• customer service
• marketing strategy
• marketing advice
• tom wanek