{"id":33380,"date":"2021-04-22T09:59:46","date_gmt":"2021-04-22T13:59:46","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=33380"},"modified":"2021-04-29T21:26:50","modified_gmt":"2021-04-30T01:26:50","slug":"virtual-ownership","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/virtual-ownership\/","title":{"rendered":"Virtual Ownership: How Advertisers Sway You"},"content":{"rendered":"\n<p>What is virtual ownership? How do advertisers use virtual ownership to manipulate you into buying a product? How can you avoid it?<\/p>\n\n\n\n<p>Virtual ownership is the feeling of ownership of an object before you actually own it. Advertisers take advantage of this aspect of human nature through advertising and trial periods.<\/p>\n\n\n\n<p>Keep reading to learn more about virtual ownership.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How Advertisers Use \u201cVirtual Ownership\u201d <\/strong><\/h2>\n\n\n\n<p><strong>The effects of ownership don\u2019t only influence our poor selling decisions. They can also influence poor <a href=\"https:\/\/www.shortform.com\/blog\/buying-decision\/\">buying decisions<\/a>, due to the fifth particularity of human nature: You can feel ownership of an object <\/strong><strong><em>before<\/em><\/strong><strong> you own it.<\/strong> This is called <em>virtual ownership<\/em>, and it\u2019s a powerful selling tool.<strong> <\/strong>There are a few common ways that companies use virtual ownership to influence your buying decisions: advertisements and trial periods.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Advertisements<\/strong><\/h3>\n\n\n\n<p>Many advertisements work by prompting you to imagine that you are experiencing the products advertised. When you see a commercial that features a smiling family on a cruise, you imagine yourself and your family in their place, enjoying a relaxing vacation under the sun. Or, you see a cologne ad in which a tuxedoed man shares dinner with a beautiful woman.&nbsp;<\/p>\n\n\n\n<p>These advertisements feed you a visual story that prompts you to imagine yourself in place of the actors, experiencing the same positive feelings. Once you imagine yourself owning the advertised goods, you naturally fall in love with them and your lack of real-life ownership feels like a loss. This thought process often drives you to buy\u2014and therefore <em>actually <\/em>own\u2014the product.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Trial Periods&nbsp;<\/strong><\/h3>\n\n\n\n<p>Many companies go a step beyond visual advertisements, which merely let you <em>imagine<\/em> what it\u2019s like to own a product, and offer trial periods, which let you <em>experience <\/em>what it\u2019s like to own a product.&nbsp;<\/p>\n\n\n\n<p>Usually, trials have an \u201cout\u201d\u2014you can cancel at any time, or the trial will automatically end after 30 days. This out tricks you into thinking that testing out a product can\u2019t do any harm. After all, it\u2019s free, and you can easily stop the trial if you find you don\u2019t have any use for the item. However, this is usually not the case.<strong> Because trials are designed to replicate the feeling of ownership, you\u2019ll naturally start to feel that the product is yours and become averse to losing it. <\/strong>Instead of giving up the product at the end of the trial period, you\u2019ll often end up purchasing it\u2014even if you don\u2019t particularly <em>need<\/em> it.&nbsp;<\/p>\n\n\n\n<p>For example, many entertainment streaming services offer 90-day trials. Often, you\u2019ll agree to these trials, thinking you\u2019ll binge a few shows over the 90 days and then be done with it because it\u2019s not a necessity in your life. However, the trial period sees you immersing yourself in a few new shows, and making a nightly habit of watching an episode or two. By the end of your trial period, the service feels like a <em>necessary <\/em>part of your routine that you\u2019re happy to pay to maintain.&nbsp;<\/p>\n\n\n\n<p>You also see virtual ownership at play in companies that rent out furniture and other home goods. These companies rent to you with the knowledge that you likely won\u2019t bring back that couch at the end of your 6-month rental period. By then, the couch has become a valued part of your home. You opt to purchase the couch instead of returning it\u2014likely costing you much more in the long run than simply buying a couch at the outset.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Avoid the Temptation of Virtual Ownership<\/strong><\/h3>\n\n\n\n<p>You can avoid the trap of virtual ownership in several ways. First, when you see an advertisement, think about how the product will <em>really<\/em> show up in your life. Often, you\u2019ll find that it isn\u2019t quite as you imagined it and the product isn\u2019t necessary for you.&nbsp;<\/p>\n\n\n\n<p>Second, avoid trial periods if you don\u2019t need the product\u2014once you \u201cown\u201d the product, it starts to <em>feel<\/em> like a need. When it comes to renting, consider the cost of renting <em>then<\/em> buying, instead of just renting. With this new figure in mind, does it make sense to rent, or would it be better to buy?&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is virtual ownership? How do advertisers use virtual ownership to manipulate you into buying a product? How can you avoid it? Virtual ownership is the feeling of ownership of an object before you actually own it. Advertisers take advantage of this aspect of human nature through advertising and trial periods. Keep reading to learn more about virtual ownership.<\/p>\n","protected":false},"author":8,"featured_media":33395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[104,9,103],"tags":[270],"class_list":["post-33380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","category-psychology","category-sales","tag-predictably-irrational","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Virtual Ownership: How Advertisers Sway You - Shortform Books<\/title>\n<meta name=\"description\" content=\"Virtual ownership is the feeling of ownership of an object before you actually own it. 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