James Schramko here, and I want to talk about pricing. If you have a program or a service where there’s more than one price, consider putting the higher price first. This gives your lower price some nice anchoring. It actually looks cheaper even when compared to your own price. It gives people a choice of between A or B, and where A is the higher price, B looks like quite good value.
If you have three programs, then you might put the middle package as the best-value package. The high-ticket item is for the high-end users, the low-ticket item is sort of an entry-level, but maybe doesn’t have as much resource as people might consume, and the one in the middle is the best value, the one that looks like the greatest deal. And you can actually stack that price with a bigger box so that it actually stands out, or give it some special color or a red circle or something to draw attention to it. That’s the one that you’ll find most people will choose.
Just like Goldilocks, they’ll go with the middle package if there’s a choice of three. And often if the middle package offers almost all the same stuff as the high-end package but it’s substantially less in price, then you’ll find that that’s a very popular choice. And the lower package generally will be without features that people will generally need, so they’ll move up to the middle package.
I hope you’ve enjoyed this. I’ll speak to you soon.
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