Deadweight Loss Not Just For Christmas

Twas the night before crimbo…

Pop-economist Tim Hartford alerted me to the scale of seasonal waste that abundant, ineffective gift-giving produces this time of year. The discrepancy between what you wrap and the recipient’s perceived usefulness of it and accompanying financial folly is known as the “deadweight loss“.

There may well be a trio of packets to unwrap for the observant solution seller:

What have clients bought in the past that they know they don’t use, and can we offer comfort that we will happily allow them to avoid such fate with our offering?

If there is such a shrinkage in how people judge worth – given as valuing $100 goods at a mere $82 – then both how might that affect prospect views of your price, and in what ways are you preparing to justify any perceived 18% ‘shortfall’?

Presents come in all shapes and sizes. So when did you ever provide something going beyond the given specs or standard SLAs – the opposite of a day late or dollar short – which you know was gratefully received? And can it be done again…?

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