1 Super Easy Change to Motivate People to Act
In the US economy alone there is almost $2 billion worth of money that is spent on unused gift vouchers. This has lead consumer groups to call for legislative change that would force retailers to further extend the expiration time frame on these vouchers to give people more time to redeem them.
Strangely, studies have shown comprehensively that this will only serve to make matters considerably worse. Here is the summary of the studies:
- People were offered a gift card from a local high quality café enough for a coffee and pastry with 2 expiry date options – 2 months or 3 weeks
- They were asked to rate the attractiveness and likelihood of redemption of each – overwhelmingly 70% of those surveyed chose the longer term option
- Gift cards with different expiry dates were then distributed amongst the sample group.
- 2 months later, the actual redemption rates were analysed
- The results were astonishing! Those who were given the shorter expiry period redeemed their cards at 5 times the rate of the longer expiry period
So how can you use these findings to motivate people to act?
Giving people a specific and close time frame is more likely to motivate them to act than a longer term time frame.
You might think about this in the following scenarios
- Inviting people to a seminar – make the RSVP date sooner and specific
- Make sales or project deadlines shorter and more frequent – i.e. weekly or monthly instead of quarterly
- Reminders for overdue invoices should be sooner and with a specific date
In other words, instead of offering a longer time in order for your audience to respond, in the mistaken belief that it will make it more attractive, research suggests that a much shorter time frame should be offered.