Do you want it now or in 6 months?

Say I wanted to give you some money.

Would you rather accept $500 now vs. $1000 in 6 months?

Think about it for a moment…

If you chose $500 now, you’re not alone. Most people did.

The truth is as humans (well most of us) we would rather get something now than wait. Even if we would have gotten something bigger if we waited.

And it is the same in business.

According to The Time to Win, a research that measures the impact of speed and responsiveness on customer experience and loyalty, buyers are willing to pay an average of 19% more for a service that is immediate.

While 27% of buyers will spend more with a brand that responds quickly to requests.

A good example is Amazon Prime with same-day deliveries.

How can you apply this in your business?

If you sell information products like a course for example, instead of creating a 40-hour course, prune it down to 3 hours or less if you can teach the subject very well or get your students the results you promised, in 3 hours.

People want faster results, not more content.

So if you want your buyers to spend more and stay loyal, think about how you can deliver value faster and respond quickly to customer requests.