Pricing Strategies to Increase Your Sales

Pricing Strategies to Increase Your Sales

How can you price your product in a way that psychologically impacts your customer into believing they’re getting a great deal? When people see the difference between your normal price and your sales price, it influences their purchasing decision. Having a “normal” price listed creates the impression that the deal they are getting is awesome. They’re getting all this value at a price that is way less than “normal.” People love to believe they are getting a bargain, and listing both your normal and sale price side by side, highlights the value they’re getting for their money.

For example, when you list your pricing, write it as, “Normally $197 — Only $97 Today!”

You can also come up with reasons to have such discounts listed. These reasons can be mentioned next to the discounted price as well. These could be things like a holiday special, inventory closeout, end of year special pricing, manager’s special, etc. Any reason works and makes it seem like a legitimate deal that customers have to take advantage of.

Remember, people love a bargain. To create the perception of a great deal by listing your “normal” price next to your sales price (e.g., “Normally $197 — Only $97 Today!”). Also, consider names for special deals to have a reason for that deal (like a holiday discount or manager’s special).

For more great pricing strategies, as well as little-known marketing tricks, check out this book: 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!.

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