Sellers of both puppies and cars have known this for a while … customers interacting with, or just holding, your product for longer periods are more likely to buy. Of additional interest from a recent scientific study is that these customers will be more likely to pay more!

Length of ownership influences the owner’s perception of value and this study demonstrates that it applies to pre-ownership scenarios also. Additionally, it aligns with psychological principles of loss aversion, where people tend to be more averse to the potential of a loss than the potential of acquiring a gain.

Marketers should be considering ways that they can get their product and, indeed, their service-based experience, in the hands of their target customers. The question is simply how do we get our customers to interact with our offering and for how long? In particular, how do online retailers address this opportunity? Think about it. Give me some suggestions. I will share my own thoughts with you.