Pricing Trick

[text_block style=”style_1.png” align=”left” font_size=”19″ font_font=”Tahoma” font_style=”normal” font_color=”%231b1c1d” font_shadow=”none”]Here is the raw fact.

Price MATTERS…

…I have seen a dead ad instantly pick up just because of a little tweak in the price.

As a matter of fact, if a campaign is doing very poorly and I have done EVERYTHING I mentioned in the Sneak in Marketing Training and it still doesn’t pick up…

…all I do is simply use the following ‘’Price Tricks’’ and it usually works to increase conversion.

Without much ado, let’s get right to it.

 

Price Trick #1: To Reduce the Size of a price in the mind of a customer, move the price down into a .99 tail.

 

I will explain.

 

When someone sees or hears a price tag, he usually has a perception of the size of that price in his head. For instance, if you say 2000 naira, it has a size in your head. The size of 2000 naira.

 

Stay with me. You will get it.

 

But, if you slash it down to 1,999, you do not see it as 2000 naira anymore. Rather, you see it as 1000 naira plus something on top.

 

Let me be graphical so you get it.

1999 vs 2000

2999 vs 3000

3999 vs 4000

 

When you look at these prices they feel different to the eyes, even though they are not really different.

 

Now, take a look at the next one:

 

149,999 vs 150,000 naira

Notice what just happened.

 

149,999 naira doesn’t exactly feel like 150,000 naira. Even though they are ALMOST the same.

 

This is a little mind trick that forces your customers to perceive your products as CHEAPER, when it actually isn’t.

 

Shoprite use this most times. And it’s pretty amazing. Maybe outside the mall they sell a box of detergent for 50 naira, the guys at the mall sell theirs for 49⁹⁹

 

Forty Nine naira Ninety nine kobo.

 

You look at it, compare the prices in your head and then your mind tells you that the mall price is cheaper.

 

Usually this is done subconsciously and you do not think much about it.

 

Price Trick #2: Don’t Offer Free Shipping if The Product Feels Expensive Already.  

This is particularly important if you sell physical products online. Usually what people do is to include shipping cost in the price of the product and then say shipping is free.

 

If your product feels expensive already, giving free shipping never works.

 

Let me explain. I am currently working with a client who wrote a book and wants to offer it at 4000 naira plus free shipping. A 100 page book. Already 4000 naira looks way too big, in people’s mind, for a book.

 

So already, it felt way too expensive.

 

In situations like this where customers already know the price of similar items, like shoes and bags, come out and tell them the price of shipping then you can add something on it and it won’t feel expensive.

 

So instead of saying the Book was 4,000 naira. I told him to do this

 

BOOK price; 2,500 naira + 1,500 shipping

 

When someone sees a price like this, they would go like : ‘’Okay the price of the book is 2,500 naira, Not bad’’.

 

You have made the book look less expensive, even though the real shipping cost could be 1000 naira and the extra 500 naira on the 1,500 is profit.

 

The book now doesn’t feel like 4000 naira anymore. Even though it’s basically the same thing you did when you included everything in the price of the Book and claimed you are giving free shipping.

 

So, when you are selling something online and people already have a sense of what the price is, you can separate the shipping and work on it like this.

 

For more on how to make this work, go here to get the Sneak In Marketing Training Here

 

Price Trick #3: Tell Them The Daily Equivalent Of Your Price To Trivialize It. 

I used this to sell a something once. The price was 9,999.

 

If you divide that price into 30 days, that is just 334 Naira.

 

So I pointed this out in my sales letter like this.

”This is 9,999 Naira. Assuming you borrow to buy it, all you need is just to pay 334 Naira every day and in 30 days you have paid it off”.

 

When you break your prices down like this, you make it seem smaller.

 

Let us apply this again to the price of a 1 million naira car,

‘’ Assuming you borrow to buy it, This Car Only Costs 2,800 Per Day. And in the next 365 days your debt is off’’

 

Now, our beautiful little car doesn’t feel like 1 million naira anymore.

 

For more on the psychology of conversion and how to make this work, go here to get the Sneak In Marketing Training  Here

 

Price Trick #4: If it is Too Expensive, Make It Very Detailed.

 

This is a neat little trick.

 

If the price is neat and perfectly rounded up, people tend to haggle and drag the price with you. But if the price is super detailed, they USUALLY don’t haggle.

 

Let me explain.

 

Take these two prices for instance.

 

150,000 naira

(One fifty Thousand)

Vs

157,346.32

(One fifty seven Thousand, Three hundred and forty Six naira. Thirty Two Kobo)

 

The funny thing is that when your price is like the second one, people see it as the real price even if you had increased it.

 

Now look at the two prices again. The second price is higher.

 

If someone told you the price was 150k, you might feel you can beat it down.

 

But when you are given the second, you believe it’s the real and last price?

 

And even if they haggle, they will focus on saying ‘’Haba na, the coins on top na for wetin. Make I give you 157,346 jare’’

 

But say 150,000 naira and they will ask whether it’s the last price, then they will price it for 140,000 naira.

 

Do you think this was value? Wait till you see what is waiting for you when you get = > The Sneak in Mind Control

 

Go here to lock down a spot for yourself and start taking the training right away. = > http://www.sneakinmarketing.com/simmethod/[/text_block]

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