If you’ve ever had to assemble a piece of Ikea furniture, you understand the feeling of having created a masterpiece. This is the endowment effect. Labour and time spent on an object directly increases the value placed upon that object.
Can you think of ways to simplify your customer journey? Can you reduce the complexity in your language? A great way to do this is to write down all the steps a customer needs to take in order to complete a sale and eliminate any steps that aren’t vital.
Not only will simplification remove the barriers the customer might have when it comes to buying, it will attract more customers. It’s a thin line between offering just enough and offering too much.
Amazon now has a ‘one-click’ purchase which contrasts with eBay’s convoluted buying process where an account is needed with all the various details they demand. Customers value their time and when they purchase something on Amazon, they don’t mind paying a couple dollars more for the efficiency they receive.