May 22, 2008
The Fear of Loss is More Powerful Than The Hope For Gain!
The headline above has been drummed into my head since I first started writing copy over a decade ago. If you study guys like Kennedy, Halbert and Carlton, as I do, you know these guys really get it.
So if you’re a student of Emotional Direct Response, you know this.
You know in reality, people would much rather save something they’ve already got, than get something they want. It’s hardwired into our heads.
So if you’re a student, you know this already.
But do you really get it?
Is this undisputed fact of human behaviour permanently imprinted into your mind? If not, then this is my objective here. To show you how to always be aware of this fact, but also to show you how to craft compelling copy that targets this primeval emotion, what we call, the fear of loss.
(I hope by now, as an astute reader of this blog, you realise the BIG POINTS I make here, the ones I want to really ram home to you, are the exact same BIG POINTS I keep reminding myself on. By reminding you, I’m reminding me. And being astute, I bet you’ve got a notebook beside you, a BIG IDEA book you’re writing all of these lessons down in. You are, aren’t you?)
Anyway, I was going through an old Jerry Buchanan newsletter the other day (Jerry was a famous old info marketer from way back), when I came across an example of fear of loss that really struck home.
Jerry was commenting on an Advertorial by Tony Hyman for his book: “Cash for Unwanted Treasures.” (Tony’s book predates “The Antiques Road Show” shown on TV.).
This is going back to the early nineties but I’m told Tony is still going strong. Remember, human emotions do NOT change throughout time.
Anyway, if you read my previous post, you saw how every emotion is a two-sided coin.
Positive and Negative.
Good or Bad.
So Tony’s advertorial headline could easily have focused on the benefits of finding unwanted treasure. Something like:
“I couldn’t believe it when they told me my old vase was worth $2,500, but when he handed me the cheque…”
NOTE: A simple adaptation of Caples’ famous: “They laughed when I sat down at the piano… but when I started to play…”
Now this isn’t a bad headline. But Tony didn’t use this approach. Because he knew in his gut the fear of loss is more powerful than the hope for gain.
This is what his headline was…
“Have You Ever Put a $100 Bill in the Trash?”
Man that hits ya doesn’t it? It’s pure fear of loss!
Look, I don’t use this enough myself, hence this article. My mind is focused on wealth, on good things, on the positive side of life.
But as entrepreneurs we must realise many are not this way. It’s easier to motivate the masses with what they will lose, as opposed to what they will get.
MILLION DOLLAR EXERCISE: First, write out all of the things your prospects might lose by not getting your product or service. What will they miss out on? What will they lose?
Next, come up with all the Power Words that describe each one. (PAIN WORDS)
Might pay to print this post out. It’s a keeper.
Anyway, it’s a beautiful autumn’s day here in the tropics. About 17 degrees Celsius, the sun blazing from a clear blue sky with a faint whiff of salt blowing up from the beach on a gentle breeze.
That’s where I’m heading now, down the beach. And I won’t feel guilty either. I’ve done a 5 hour writing block from 5 this morning until 10. So I got a lot done. Two jobs actually completed and two more moved further along. So I’m happy and ahead of schedule.
Stay happy,
About The Author
Pete Godfrey, The Wizard of Words, from rebel without a clue to one of the most in demand and highest paid copywriters and sales strategists in Australasia… all with the power of his emotionally charged words that sell…Discover the "Secret Weapon" to increasing your Sales and Profits www.emotionaladwriting.com
Filed under Copywriting by Pete Godfrey
Comments on The Fear of Loss is More Powerful Than The Hope For Gain! »
Michael Maven @ 11:37 pm
Pete,
Spot on Pete, people's behavior rarely changes. It's so important to understand the psychology and thinking behind the decision making process.
Love your newsletter.
Marketing with Passion,
Michael Maven
Alexi Neocleous @ 10:04 am
you're on da money mate
some of the winningest magalogs in the US use fear or "enemy in common" as their lead in
not surprising really given the front page of virtually every maintstream newspaper across the world reports BAD news instead of good news - gotta tell you something
i've still gotta get you back for the Gold Coast ya b%^$%$%
Rebecca @ 10:49 am
Thanks for this potent reminder Pete.
Had trouble with taking people to pain til you showed the power of the story, the hero's journey from loss to fulfillment.
People want the drama of that story - to go on a huge rollercoaster ride / greased slide. Instead of feeling manipulative I get the adventure of it now.
Thanks for your accurate insights and showing us the cutting edge in a great newsletter.
Rebecca & John
Kevin Francis @ 11:07 am
Pete.
Yeah, the "fear of loss" as you illustrate with that headline from Tony Hyman really packs more of an emotional "wallop". Also, I seem to recall there have been a number of studies that back this idea up with experimental results. There's probably a bigger impact as well because this idea is used less frequently than the "hope for gain" approach.
It makes sense when you think about it. People tend to be lazy and although they might want a better life, it's too easy to put off. The benefit is not immediately tangible. On the other hand, a loss right now is all too real!
My 2 cents is that this needs to be used with care. I remember Carl Galletti saying that if you throw someone in the water, don't leave them there too long! So this would be a great way to get someone's attention, stir them up and then introduce the solution. A lot of the time when I've seen the "fear" approach used, it tends to go on too long and get downright depressing!
Thanks for another great and useful post!
Kevin Francis
Andrew Greig @ 12:51 pm
Hi Pete,
I wonder how well that works on Governments? Have you ever thrown 100 million dollars in the trash?
I have to prepare a submission to government this week, so this may just be the emotional trigger which gets it read.
Thanks
Robert Akeroyd @ 2:56 pm
Personal first hand experience of the fear of loss.
One of the reason's I've remained a second hand book dealer despite 15 years of struggle is that I have been afraid to lose the opportunity to succeed as a second hand book dealer.
The more you told me I couldn't do your Master Class the more I wanted to do so, I'm grateful I have which was both an example of take away selling and fear of loss.
Regardless of whether you were denying me the opportunity to do the seminar because I couldn't afford it, or as strategy is irrelevant it still had the same effect.
In friendship Robert.
John @ 3:01 pm
Hi Pete, how's it going…
Thanks for sharing your thoughts on fear of loss.
Prospects/customers may not be able to control the outcome, it's up to us (as copywriters) to guide their thoughts and actions required to improve the process…
Just a short list: fear of abandonment, fear of commitment, fear of heartache, fear of intimacy, fear of loss, the fear of poverty, the fear of criticism, the fear of ill health, the fear of loss of love, the fear of old age…
"Entering into the conversion:"
We all know fear, we're aware that they're bad, yet most of us seem incapable of shaking them off.
(so why fight it)…
When you focus on winning (positive results/outcomes), you open yourself up to the fear of making a mistake or losing.
(it's easier to stay in my comfort zone)…
Summary: Fears = hard work!
Thanks Pete, looking forward to the next exciting adventure.
John Mignano
Bill Dimitrovski @ 5:13 pm
Hi Pete
Totally agree with your post. It reminds me of that famous Ted Nicholas headline for his book of corporate forms "What will you do when your personal assets are seized to satisfy a judgment against your corporation"
Ted sold over 350, 000 copies of a corporate forms book using the fear of loss motivator.
Robert Cialdini calls fear of loss the ultimate form of scarcity. In a recent interview he talked about a study that was done proving the fear of loss is far more motivating than the possibility of gain:
"People were asked if they would like an energy audit of their home. The company checked all of the weather stripping and insulation, and at the end of the evaluation, they said, “If you will insulate your home fully, you will be able to gain 50 cents a day, every day.” That was for half of the homeowners. The other half of the group was told, “If you fail to insulate your home fully, you will lose 50 cents a day.”
Believe it or not, 150 more people insulated their homes when the language was changed to reflect loss, and it was the same 50 cents. The idea of losing it every day was more powerful than the idea of gaining it"
I really don't use the fear of loss motivator enough in my copy.
That MILLION DOLLAR EXERCISE you mentioned has just made its way onto my copywriting checklist. From now on I don't start writing until I have my PAIN WORDS!
Million dollar advice Pete.
Thanks again.
brett middleton @ 5:27 pm
As rob said, what you fear you cant get or lose is damn powerful.
The classic takeaway clause!
The more you are told you cant have something the more you want it!
Keep the ideas comming Pete,
great work
Brett Middleton
www.MRTperformance.com.au
Peter Butler @ 10:56 am
Your timing was perfect with your recent post, as usual… I had a sales letter which was working but I knew it needed a new headline for it. I just adapted that "Have you ever put a $100 note in the bin?" headline and it works perfect. Mate… I think I love you:-)
Hayden Keys @ 3:07 pm
Great insight as usual Pete. I think losing something is a much more common experience for people than gaining. In the world we live we're conditioned to expect the worst.
Ask someone to picture themselves winning a million dollars and they'd struggle. Ask them to picture themselves going bankrupt or losing their house and they do it easily.
People love their pain…
Bret @ 9:53 pm
Gday Pete
Great reminder mate!…Man, i'm guilty for over-looking the power and importance of this message.
When writing headlines, it's so easy to fall back on the "Big Benefit" theme! But you've shown us perfectly with your examples how "fear of loss" pulls the emotional cords with a lot more velocity.
Perfct timing for me to read this too! Thanks again Pete…You Keep em coming!
Wayne Pickstone @ 8:17 am
Totally agree Pete. When writing articles for my newsletter to my patients (being in the wellness industry) or writing to Wellness Practitioners I always notice a bump in response when fear is used as the headline. In one way it's unfortunate that the human brain is wired this way but on the other hand fortunate to know this.
I can now help more people because I can bring them into my Clinic by using such headlines. In my industry Prevention doesn't sell.
Like you Pete I don't use it enough either and thanks for the reminder. Can't wait for your next post.
Wayne Pickstone.