Let’s say you’re offering a course with 10 videos, 10 corresponding pdfs and 3 great bonuses, all for $47.
And you want to make that $47 seem like an absolute and total bargain price.
Make Your Price Look Like an Amazing Deal – How do you do it?
By giving your customers a choice right there on the sales page, the check-out page or preferably both.
Strip your package down to a much smaller one.
For example, 10 videos, no pdfs and no bonuses.
Or 10 pdfs, no videos and no bonuses.
Offer that smaller version for $37, or $39, or even $45. You might want to test this to see which one works better.
Have the smaller version right there next to the big version for $47.
Let them know they have a choice.
Of course, you recommend the full $47 version, but it’s up to them.
This is a variation of decoy pricing which typically uses 3 prices to sway buyers into purchasing a particular item.
With the slightly lower price giving them so much less, your regular price looks much better.
Also, test having a higher price with not much more benefit.
In this case, it could be $67 for a slightly bigger package.
That might increase sales of your regular priced product as well.
Remember to test, test and test some more to see what works best.
Formatting: Suggest placing the following in a box of its own:
Curious about the 3 price decoy effect?
The most famous example is pricing used by the Economist, and later by many other magazines and newspapers.
The Economist offered an online subscription for $59, a print subscription for $125, or an online and print subscription for $125.
Naturally, this greatly boosted sales of the third option.
Use Left Digit Price Distortion to Make Your Pricing Look Better
In this video, Victor Antonio from www.sellingergroup.com is going to show you a little trick with pricing.
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Until next time,