Harness the POWER OF FEAR Research suggests that fear of missing out is twice as motivating as desire for something new. We see this in the demand for and the premium paid for rare items from art to motor cars and from furniture to fashion. If it is rare people will pay more for it […]

Harness the POWER OF FEAR Research suggests that fear of missing out is twice as motivating as desire for something new. We see this in the demand for and the premium paid for rare items from art to motor cars and from furniture to fashion. If it is rare people will pay more for it and what is more – gain more satisfaction from that purchase. People don’t want to miss out. We all want to be the owner of that rare item. Moreover, we do not want to miss out. Research suggests the fear of loss is twice as engaging as the desire for gain. Indeed, this is how and why fines work. We don’t want to lose what we have. We don’t mind ‘spending’ $500 on the pokies but we complain bitterly when we get a $100 speeding fine on the way home from the casino. The speeding…