What is the endowment effect and how does it increase ROI by 40%
The UnNoticed Entrepreneur ShowFebruary 01, 202400:13:00

What is the endowment effect and how does it increase ROI by 40%

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When recipients note a business gift as memorable ROI of their business with the giver of the gift increases by 40 % according to an article by Forbes (https://www.forbes.com/sites/patriciaduchene/2020/07/01/4-corporate-gifting-strategies-that-will-elevate-your-sales/?sh=3e6d688f4e25) . So why don’t we do it more often? This episode looks at the simple power of giving, a GBP7bn industry (https://home.kpmg/uk/en/home/media/press-releases/2020/09/digital-gift-card-sales-soar-by-almost-50-percent-during-lockdown-the-gcva-and-kpmg-finds.html) in the UK which has grown 9.3% during COVID. So let's talk about what could be a strategy, how much is appropriate, and how to build feelings of reciprocity and trust with employees, partners and customers.


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