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 | Pricing Psychology Strategies Ebook | |
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 | |  | | E-book Category: Business, E-Marketing, Psychology
E-book Title: Pricing Psychology Strategies
Author: Marlene Jensen
Book Description: Intelligence you can use TODAY - to increase profits
How to change your price by a couple of pennies - and get 10-20% MORE ORDERS!
Raise prices - and get MORE ORDERS!
Pricing isn't all logic. People also buy at one price and not at another for psychological reasons - many of which they don't understand. Yet these psychology-based choices have been documented by pricing strategy experts in tests of hundreds of millions of consumers. Here's how pricing psychology can work for you.
How to raise your price and get MORE sales!
You might believe that there is no such thing as pricing too low - from a consumer perspective. But you'd be wrong.
In 1992, I launched Ancillary Profits newsletter (sold to magazine publishers) at a price under $100. A few months later, I tested that price vs. one well over $100 - a 31% price increase.
What should have happened? A common "rule of thumb" in marketing says raising prices by 10% will decrease orders by 10%. Thus I should have received 31% LESS orders. Instead, my orders went up by 11%! At a 31% higher price! If you do the math, that means I got to pocket 45% MORE CASH for the very same product.
Why?
Will this work for you?
PRICING PSYCHOLOGY REPORT explains WHY higher prices can sometimes attract MORE buyers, and what market conditions make it more likely to happen. Many of these factors are under your direct control. Armed with this knowledge, you can figure out how to make it work for YOUR products and/or services.
You probably know this psychological quirk
Which of these two prices will get more buyers?
$9.99
$10
Yes, the $9.99 price will be the winner (except for one particular category of products - as you'll learn in PRICING PSYCHOLOGY REPORT). The $9.99 price will probably pull 10-20% more buyers than the $10 price.
Why? Certainly not because of the single penny saved! There is a learned-pattern response in our brains that makes us see $9.99 as much lower than $10. And it persists - even though most of us know this trick.
You probably do NOT know about "magic numbers"
There are many more such psychological quirks - or emotional reactions to numbers - in human brains. Quirks a pricing-strategies-savvy marketer must understand in order to generate as many sales as possible.
Here's an example:
Which of these prices will pull up to 10% MORE ORDERS?
$9.90
$9.91
$9.92
$9.93
$9.94
$9.95
$9.96
$9.97
$9.98
$9.99
Yes, one of the above prices has been tested in millions of direct mailings and found to get up to 10% more orders than the other prices.
Yet, you needn't spend that kind of money testing them. You can learn the answer in PRICING PSYCHOLOGY REPORT.
But this doesn't only apply to such small prices. It's also been tested and found to apply to:
$190
$191
$192
$193
$194
$195
$196
$197
$198
$199
Look at the last number ending the prices you currently charge. Maybe, by chance, your price uses the correct number.
But, look at the odds. You've got just a 1 in 10 chance your price is the one most likely to increase your sales. PRICING PSYCHOLOGY REPORT will let you change that last number and increase your cash by up to 10%. No, we can't guarantee that it will work for you. But hundreds of direct marketers have tested this and found that it DOES WORK for them.
The pricing strategies in this section of the report alone are worth AT LEAST thousands of dollars for you!
No time-wasting mumbo-jumbo
The PRICING PSYCHOLOGY REPORT contains no textbook theory or page-bulking-up blather. It's just 11 chapters (56 pages) of pricing strategies that have real-world testing to back them up:
How to raise prices without losing sales - what works and why
"Magic" numbers that increase orders
"Bad" numbers that discourage orders
When putting cents in your price is a danger
How your "decor" is connected to the price you can get
Psychological tricks in discounting
How to "hide" price increases in plain sight
The psychology of negotiating prices
Pricing alerts - danger signs that you're seriously underpriced
How to charge different prices to different groups - legally
2 FREE online testing solutions - so you can test prices yourself
PLUS... a chapter of interviews with Internet marketing gurus - including Jim Edwards, Anne Holland, Harmony Major, Michael Nicholas, and Dr. Judith Briles - on what they've found works in pricing psychology.
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