Author Elspeth Kirkman went viral on TikTok for sharing a scientifically-backed trick to make more money, based on a study she stumbled upon in her research. She advises using precise values rather than round numbers when selling or buying a product, as it can make you appear more credible and lead to higher counteroffers. Kirkman’s video on this topic has garnered over 100,000 views and has received positive feedback from users who have successfully applied the tip in real life situations, such as buying a house or winning auctions on eBay. The study she references suggests that precise first offers in negotiations act as more potent anchors, leading to more favorable outcomes in final settlements.
The study by Malia F Mason and others, titled “Precise offers are potent anchors: Conciliatory counteroffers and attributions of knowledge in negotiations,” found that using precise numbers as first offers led to higher counteroffers in negotiations, resulting in more value for negotiators. Mason emphasized the importance of being precise but not overly so, as excessively precise numbers may appear awkward. While the method has shown success in various situations, there are potential drawbacks, such as scammers using precise values to deceive buyers. Kirkman acknowledged this potential issue and warned that in certain contexts, the strategy could backfire.
Some commenters shared their experiences of using the precise values strategy to achieve successful outcomes, such as buying property, negotiating pay rises, and getting people to show up on time for appointments. However, Mason noted that the effectiveness of using precise numbers may vary depending on the circumstances. While they work well in negotiations that are already underway, they may not be as effective in online marketplaces where round numbers might attract more offers and quicker transactions. Sellers may need to consider the context and goals of their sales when deciding whether to use precise values.
Kirkman expressed her belief in the strategy’s effectiveness even before coming across the research, citing her own experiences of unknowingly using it. She found the study’s findings to be a confirmation of what she had observed and experienced in practice. While the use of precise values can enhance credibility and lead to better outcomes in negotiations, users should be aware of potential pitfalls, such as scammers exploiting the approach in online marketplaces. Despite these challenges, the strategy has been proven to work in various real-life scenarios, prompting users to share their success stories with Kirkman on TikTok.
Overall, Kirkman’s viral video and the study she references have shed light on the power of using precise numbers in negotiations to achieve favorable outcomes. The strategy has been well-received by users who have implemented it successfully in various situations, showcasing its potential to enhance credibility and secure better deals. While there are caveats to consider, such as possible misuse by scammers, the research findings and user testimonials provide valuable insights into the benefits of incorporating precision into sales and negotiations. The growing popularity of this technique highlights the importance of understanding human behavior and decision-making in achieving financial success.
