Hi There

when you are selling online there’s obviously no physical product for people to feel, touch or visually guage so your copy needs to re-enforce and strengthen various points one of which is pricing. Here’s my 3 Top Tips when you are deciding on the pricing and marketing of that price of your product – enjoy

Top Tip – end your prices with a 7, 87, 5, or .95

Instead of charging $10, for instance, consider charging $9.97. Even though it’s only a few cents less, people seem to think that it sounds cheaper. Even on high priced items the same tricks can work. For instance, you’ve probably never seen a car advertised for $30,000. Instead, you’ll see it advertised for something like $29,995.

Amazingly enough, on that last example, some people will walk away thinking that the car is $29,000 in their head (even though they’re smart enough to know that it’s obviously $30,000).

Top Tip – Offer limited time deals

Offer limited time deals, especially ones that don’t last more than a few days tops.  And if you have an e-mail list, mail them a lot more on the final day with reminders to the deadline.  You’ll often get most of your sales on the final day!  Countdown timers can be another great way to emphasize this.  The idea is similar to furniture stores that seem to always have sales that end on the weekend… even though we all know they’ll probably have another sale in a week or two, we’re more likely to buy now if we think there’s a sale on it now vs. later.  People like to procrastinate, so limited time deals can get them off their butt to take action

Top Tip – Use the Word “only” Before the Price

Takeaway: Use the word “only” before your price (e.g., “Only $97” vs. “$97”) as psychologically it implies the value you are getting is greater than the small amount you are paying.

How items are described and the words we use to frame situations can have a big impact on how we then think about a scenario. Just as saying, “I cut my finger, but there’s only a little blood” versus, “I cut my finger and there’s blood everywhere,” paint two very different pictures, the words you use to describe your pricing can make a difference to your sales. Something as small as just putting the word “only” before your pricing can increase your sales.

Thanks for reading

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