In behavioural economics, the theory of loss aversion is a concept that says the pain of loss is psychologically about twice as powerful as the pleasure of gain.
As a marketing consultant, you’re hired to help your clients grow and achieve higher revenues. Obvious, right?
But if you look closely, it’s usually a second-place desire to not losing what they already have. In many cases, your clients need to make big changes in order to grow, but they’re also worried about things falling apart in the process.
Your job is to help clients accomplish their transformation to a better future but also ensure they don’t fall off the tracks in the process. The latter part is critical.
Sell the upside potential and the downside protection.