The Endowment Effect You make it, you own it.

Why does that chipped college mug feel priceless, while a brand new one doesn’t?

That’s the endowment effect at work – our tendency to value what we already own (or help create) more than anything new.

Smart businesses harness this by:

• Offering free trials and samples to create a sense of ownership

• Inviting customers into co-creation (workshops, feedback, design input)

• Personalizing products and services so they feel uniquely “theirs”

When people build, shape, or customize something, they’re not just buying a product—they’re investing in their creation. That’s where real loyalty (and persuasion power) lives.

Continue reading more by clicking on the link below.

https://canadiansme.ca/the-endowment-effect-you-make-it-you-own-it/

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