The Psychology of Pricing. How to set attractive prices for your services and products.
Do the numbers in your prices actually matter? YES.
Psychology of Ending Numbers:
A. Luxury/Quality = 0
B. Value = 9
C. Bargain = 7
My favorite pricing strategy? Price everything at 9, then selectively use 0 and 7 as desired
Rounding Up and Down:
Prices already low? Go UP!!!
Tree hugger tip: Put prices on a rate card tucked inside your menu
PS: I forgot to finish my thought about how much numbers matter! So while testing says that YES, you can definitely increase sales with the use of “magic numbers,” they aren’t the most important thing. What IS most important is that you create an engaging and attractive offer. You must get their attention first. You don’t want to lead your marketing strictly by price! That’s how you end up being the discount house. Make your offer is enticing FIRST, then seal the deal with an attractive price.
ENROLL in my FREE 3-part intro course to Clients & Cash: Promote Your Practice in a Flash
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Jaya Savannah - Chief Inspiration Officer. Strategy Coach for Holistic Businesses. Trainer, speaker, and writer. Spiritually aware, yet street smart. Elephant lover.