A few weeks ago, we discussed how to look good on Zoom calls and webinars. In that episode, I talked about how using a relatively new iPhone as your webcam on a relatively new Mac was dramatically better than using $700 worth of lights and webcams.  A couple of weeks later, we discussed how an economic war between China and Taiwan would cause iPhone and MacBook production to cease since the A16 and M2 chips are made in Taiwan, and the phones and laptops are assembled in China. At the end of the episode, I said I hoped that China and Taiwan would continue to get along, but in case they don’t, listeners using older devices should upgrade before it’s too late.  Both episodes gave a compelling reason to upgrade your laptop and iPhone.  But which pitch was more effective? Which caused you to act? The potential money savings or the threat of being unable to get the device you need? After the episode about the potential shortage of chips and devices, so many listeners asked me for laptop recommendations that I’ve had to add laptops to my recommendations page.  The second pitch relied on a psychological phenomenon called loss aversion. Loss aversion describes the phenomenon that causes most people to feel losses twice as strongly as they feel gains. I wish I could say I had planned these two episodes as a case study, but it just worked out. For authors, loss aversion can make it harder to sell books. You must convince readers that your book won’t waste their time and they won’t feel guilty buying it. Your cover and blurb must convince readers that they will finish the book and feel great after reading it.  Used correctly, loss aversion can help increase rather than decrease sales. So how do you turn loss aversion into an ally? How do you use loss aversion to supercharge your book sales, increase margins, and build goodwill with readers? Ethical Marketing Psychology When I talk about Marketing Psychology, I like to start by discussing ethics.  Marketing psychology can influence people’s behavior in ways they don’t realize. It is a tool. Like any tool, it can be used for good or evil. A scalpel in a surgeon’s hand is a life-saving tool, but in the hand of a murderer, it brings death. As you become more influential, you must seriously consider how you can use your influence ethically. Handle marketing tools and your readers with care. I’m about to put a scalpel in your hands, and I want you to be able to use it with a good conscience. So how do you know you are using loss aversion ethically? Here are a couple of ancient ethical guidelines.  First: Do Not Lie Psychology + deception = poison. To make good decisions, people need to know the truth. If you shade the truth, you make it harder for people to make good decisions. If you feel the need to deceive people in order to sell something, stop selling that thing.