The first penny problem

(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at:, or follow me on Twitter.

This is very true:

“It is just as hard to get a potential customer to pay one penny as it is to pay $10. I like to call it the ‘First Cent Syndrome.’ If you, as a consumer, are used to getting something free, you are even more reluctant to pay for that thing. The goal is to overcome the hurdles to getting that first cent, that first penny. Once you are able to get it, you have made the initial, tiny crack into someone’s pocketbook and psyche, converting a non-paying customer into a paying customer.”
Fred Dewey, CEO at Kachingle

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