Loss Aversion is a cognitive bias that people prefer to avoid losses much more than they value gains.

It's very powerful when used right.

Here's how to ethically use it to get more happy, paying customers:

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1) Get them hooked on product value

Canva defers account creation.

They let you use the tool, get value and then asks you to login to save your design.

Provide tons of value before asking a user to sign up.

They won't want to lose their work and the effort they put in.

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2) Leverage FOMO

Twitch cleverly plays on the potential loss.

They use fun imagery and messaging to get a user to sign up for notifications.  

They don't come across as pushy.

Users are much more likely to accept requests when done in this way.

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3) Use Curiosity

MyFitnessPal gets you to the finish line of the long onboarding flow using intrigue.

The progress bar acts as a visual anchor and shows you how far you have come.

By signing up, you get to see your calorie goal.

You don't waste all the time you put in.

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4) Offer Free Trials

Free trials allow users to engage with the product.

But it gives users the urgency to make a decision at the end.

This triggers potential loss aversion.

Blinkist offers a free 7-day trial.

But also makes it clear how easy it is to cancel.

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5) Tie to product adoption

Duolingo leverages streaks to get you to know give up your learning habit.

They use clear messaging around it.

And they even offer you a wager to keep up your streak for 7 days.

It helped to increase their Day-7 retention by +14%

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6) Use numbers to outline potential loss

Dovetail isn't pushy when the user is leaving.

They let the numbers do the talking.

Show users how much work they've already put in.

Use that to help them to stay.

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7) Provide useful suggestions before they leave

Disney+ gives you an optional feedback form.

Then they show you some popular movies right before you are about to leave to get you to stick around.

Don't make it hard for users to leave.

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