Ownership Bias

Written by Guido Jansen in
September 2010

Theory:

People value things more when they feel a sense of ownership. Also know as the endowment effect or divestiture aversion. 

Application:

Can you give people something that is theirs only on your website? A page with their own content or personal data? A public page for them to show what they are doing at your website? Create something that is theirs alone and they'll value it more then it's actually worth. On the other hand: keep in mind that if you want people to switch from another system/ product/ competitor, keep in mind that they'll value their current (and thus 'safe') choice more then they actually should, so be extra convincing in telling them you have the better product/ service.

Recent posts
AI & Personalization
AI & Personalization

Guy Yalif performed his CH2019 keynote "AI & Personalization Demystified" and spoke about how we can use AI and machine learning, what it is (and isn't) good for in marketing and personalization. After his session, he and Niels Reimer joined me in the café to talk about this! (oorspronkelijk gepubliceerd op https://www.cro.cafe/)

Make All of Your Data Actionable With Ringside Data
Make All of Your Data Actionable With Ringside Data

Do you struggle to get enough actionable data from Google Analytics? Then you need to listen to Russell McAthy, CEO and co-founder of Ringside Data. Key takeaways include: Why Russell set up Ringside Data, the companies with the biggest data problem, how Ringside outperforms Google Analytics, if you’re investing in data analytic tools, you need people with specific skill sets, the biggest pain points Ringside is trying to solve, the benefit of Ringside for eCommerce businesses, and what attribution is. (originally published on https://www.coreofcommerce.com/)