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- Shot #93: The Cashless Effect that makes you spend more
Shot #93: The Cashless Effect that makes you spend more
Hello awesome marketers & founders 👋,This is Luv and here’s your weekly Marketing Shot :)
(Delivered every Tuesday)
In today’s Marketing Shot:🛠️ 4 Useful Tools & Resources💡 The Cashless Effect that makes you spend more..🗞️ 4 Noteworthy updates from the digital world
🛠️ 4 Useful Tools & Resources
How sending free products to Micro-Influencers have helped brands 5X revenue in 2 months using Stack Influence (link)
Learn to communicate your ideas through storytelling and design with this free course by Google (link)
50+ Ad copy inspirations guaranteed to increase clicks (link)
Spacebar Visuals : Create 60-second videos based on your whitepapers, ebooks, reports, etc. (link)
The Cashless Effect that makes you spend more..
The cashless effect is like a mind trick that makes you spend more when you're using payment methods that don't involve hard cash.
Let’s understand this.
When you pay with hard cash, you feel the impact of the purchase.
You see the money leaving your hands and it makes you think twice about your spending.
It's like a reality check for your wallet.
But when you swipe your credit card or scan that UPI code, it's a different story. The money feels less real and it's easier to go overboard without realizing it.
Why does this happen?
First, when you pay with cash, you have to physically hand over the money. This can create a sense of "pain of payment" which makes you more likely to think twice about the purchase.
However, when you pay with a credit card, there is no physical pain of payment. Just a swipe and the money magically disappears from your account. This can make it easier for you to spend money without thinking about it.
Also, when you pay with cash, you are more likely to keep a closer eye on your spending. You keep track of how much cash you have left and this can help you to stay within your budget.
However, when you pay with a credit card, you don't have to worry about tracking your spending as closely. You can simply swipe your credit card for all your purchases and then pay the bill at the end of the month. This can make it easier for you to overspend because you don't see the money leaving your hands on a daily basis.
Here are 2 interesting reads on cashless effect:
Happy spending (responsibly, of course)!
🗞️ 4 Noteworthy Updates
Google’s AI bot- Bard gets new features: support over 80 new languages, the ability to talk and more to know (read)
Twitter launched its revenue sharing program for eligible creators (read)
How AI Influences What You See on Facebook and Instagram (read)
Meta’s behavioral ads banned in Norway on Facebook and Instagram (read)
#MarketingMeme
Other Free Newsletters worth reading
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GPT Hacks - AI deep-dives and tutorials to help startup founders and entrepreneurs use AI to crush their business goals.
Stacked Marketer - Get carefully curated digital marketing news, trends, tech and actionable advice delivered to your inbox.
📋 In case you missed the last Tuesday’s Market Shot- Spice up your marketing with artistic QR codes
See you next Tuesday :)Thanks,