How To Sell More By Pricing Smartly?

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Pricing isn’t math. It is pure psychology.

And 99% of the selling game is won by pricing your products a certain way.

Here are the top 8 tactics that are *guaranteed* to bring you success.

1. Charm Pricing

Reduce the number to your left by one.

Means it’s not sold for $3 — rather $2.99.

We read the left digit first, which signals our mind to think of it as a smaller overall number.

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2. Avoid Commas

$1199 is better than $1,199 or $1,199.00

Our brain takes more time to perceive extra characters.

And you don’t want your prospects to think much about numbers before buying.

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3. Use The Decoy Effect

It refers to introducing a third, unattractive pricing option to influence our decision about the other two.

The price difference between the middle and last tier feels smaller, leading us to opt for the latter.

Think of popcorn at the cinema.

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4. Make your final price inclusive

If the customer is willing to pay for a product, and you include something extra for free, the perception of the offer goes up.

What are you more likely to buy?

$25 t-shirt or $20 t-shirt + $5 shipping

I know what I would choose.

5. Small equivalents

Breaking a large price down into small chunks makes it feel cheaper.

Buying a $30 course is boring.

But “start learning for $0.99/day” is tempting.

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6. Raise the bar. Then drop it.

People rely on the first piece of info they see.

If you introduce a high price, they will believe that.

Then you can lower it to make it seem like a great deal.

Perceived value >>>>>>>

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7. Sunk Cost Fallacy

If customers have invested

• Time
• Effort
• Money

in a product/service — they are more likely to continue with it.

Even if the cost outweighs the benefits.

Think of how you get Amazon Prime for a minimal fee but spend a fortune on Prime Day.

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8. Bundle products

We want everything easy & fast.

So rather than running circles around price comparisons, bundling up and providing packaged value is better.

It reduces customers’ thinking time and promotes faster action.

Like this amazing Burger King combo.

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Can you think of other pricing psychology examples?

Share them below!👇🏻