“Given two similar rewards, humans show a preference for one that arrives sooner rather than later.”
That’s the start of the Wikipedia definition of Hyperbolic Discounting.
And, when Hyperbolic Discounting is understood and leveraged properly, it will jack-up the volume of prospects who actually show-up to your webinars (not just register and never attend).
Here’s the key you need to understand:
“Humans are said to discount the value of the later reward, by a factor that increases with the length of the delay. “
In laymen’s terms here’s what this means:
Prospects place a higher value on immediate rewards rather than future rewards… even if those immediate rewards are less than the future rewards.
For example:
By nature, because of the psychological principal of Hyperbolic Discounting, people are inclined to place a higher value on a $200 reward coming next week than a $2000 reward they can get in six months.
You need to use this principal to your advantage during your webinar’s Intensification Process (the follow-up sequence that takes place in-between registration and the actual webinar).
It’s all about properly framing the speed of pay-off your webinar content will give to prospects.
When you do it properly… it will radically increase your webinar show-up rates. I’m talking 65%-75%+.
During the live Intensification Process web training, I’ll be sharing exactly how this is done.
If you haven’t registered yet, you still have time.
Go here to register for the Intensification Process Web Training.
Sidenote: Using the Intensification Process you’ll get on the web training, not only will your webinar attendance rates skyrocket, but… even more valuable… prospects show up ready to buy.
