How to be persuasive with your pricing. One price 13 ways.
Written by Julia Bickerstaff // October 9, 2012 // Daily Juice // 2 Comments
We often spend a lot of time sweating over our pricing. How much should we charge? Is it too much? Is it too little? But did you know that the way you present your price can be more persuasive than the price itself?
Here is one price written 13 ways, and telling 13 different stories.
a) $20: this price exudes confidence and is great for the discerning buyer. It says “Buy me I’m fabulous”
b) $19.99: this price is a little nervous and appeals to the buyer whose eyes are bigger than her wallet.. It says “Please buy me, I’m really not that expensive”
c) Sale: only $20. This price says “C’mon buy me, it’s not like I’m expensive”
d) Price $20: you save $5. This price is great for the frugal. It says “Buy me and save”
e) Was $25, now $20. This price is great for the wannabe premium buyer who likes a bargain. It says “You love me and now you can afford me”
f) $20 (25% off). This price is great for the skinflint. It says “Buy me, I’m at a massive discount”
g) Our price $20. This price says “Buy me, buy me, I’m cheaper than all the rest!”
h) $20: rebate $5. This price says “Buy me now, I’m on special and it won’t last”
i) $20 handwritten price tag. This price say “Buy me, I’ve been reduced…..but on the quiet…. I wasn’t selling so well”
j) $20 printed price tag. This price says “Buy me or someone else will. I’m the right price and I ain’t getting discounted”
k) $20 includes GST (or whatever tax). This price says “Buy me, I’m a fair price and I don’t play games”
l) $20 excluding GST (or whatever tax). This price say “Buy me, I’m more than you wanted to pay but you won’t realise that until you get to the till when it will be too late….you’ll have fallen in love ❤”
m) $20, price excludes delivery. This price says “Buy me, I’m a great price. But boy post is expensive in this country”
n) And finally, the bonus one. The price just shy of $20, at $19.35 which says “Buy me because I’m completely trustworthy. This price took loads of calculator work, not like those arbitrary “$20” types”
Right then, how do you know which one to use?
Well that depends on who your customer is. You need to think about which story will grab them most.
So if your customer likes to buy ‘the best’ then go for ‘a’, because if you frame it as ‘f’ she’ll walk away.
Written like that I know it sounds bizarre. After all, it’s the same price. But it’s the way our brain works.
How do you present your prices?
| Remind me, how does this make my business more profitable?The way you present your prices might be putting your customers off! So make sure your price tells a story that your most profitable customer will like |
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2 Comments on "How to be persuasive with your pricing. One price 13 ways."
A really interesting! I find the way the mind works fascinating, so when it comes to the psychology of business it’s really intriguing. I will definitely be using more of some and less of others!
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