GrowthHackingIdea - Free vs $0.01 (experiment)

In Dan Ariely’s book Predictably Irrational, researchers set up an experiment.

They offered passersby 2 types of chocolate:

A Lindt truffle for $0.26
A Hershey’s Kiss for $0.01

Results:
40% of people bought the truffle.
40% bought the Kiss.

Then the researchers lowered the prices of both chocolates by a penny:

The truffle was now $0.25
The Kiss was now free.

Results:
90% of buyers opted for the free Kiss chocolate even though the difference was just a penny.

If your product generates stickiness once tried...
... it's worth giving away a piece for free.

Source: sumome.com


Cheers,
Charlie Patel ;)



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