Increase Perceived Value Through Ownership

Allowing individuals to have ownership or a sense of customization over a product or idea can significantly increase its perceived value. Research shows that people are willing to pay seven times more for a product they have some control or ownership over. To persuade someone effectively, offer customization options, free trials, or involve them in the decision-making process. This strategy works not just for selling products but also for pitching ideas. Encourage individuals to see the idea as their own by prompting them to contribute or provide input. When seeking a raise, this approach can also be applied by subtly influencing the perceptions of decision-makers through strategic questioning and idea ownership.