“Strings Attached: Twist On Offering Trial Lessons”
Thu July 2nd, 2009 by Guest“There’s no such thing as saver’s remorse”, proclaims an ad for a California bank. Don’t tell that to Ran Kivetz of Columbia University. Tight times are creating the new phenomenon of saver’s remorse–one that you can warn against in your advertisements for new music students.
Kivetz conducted an experiment with Stanford University’s Itamar Simonson, in which a group of women were asked to enter either of two lotteries. In one the prize was a $80 gift card to a spa; in the other, the prize was $85 in cash. No-brainer, right? Even if you wanted the spa treatment you could take the cash and have $5 left over. End of story.
Yet, more than a third of the women chose lottery where the prize was the spa gift card. One said, “If I took the cash, it would end up going toward rent.” Even in tight times, people need emotional, creative and physical nourishment. That is something to think about in your ads: “Don’t go to your death bed wishing that you’d learned how to play ‘Free Bird’!” “Times are tough, but you can still learn to be a rock star so you can STICK IT TO THE MAN!”
