8 Pricing Strategies That Use Psychology to Help You Sell More

1. Using Big Fonts For Pricing Confuses Customers.

And we don't want a confused customer. Similarly to a product image being enlarged to show size, or printed in its ‘actual size’ to seem impressive, printing a product’s price in big font can convince a consumer that the price is big.

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2. Exact Numbers Appear Larger.

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$2,450,000.00 seems bigger than $2.45 M. 

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In this same breath, if you want your number to seem bigger, write it out!

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$8k seems smaller than $8,000.00. 

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3. The Prices or Numbers We See Anchor our Expectations.

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A higher priced item strategically placed at the top of a list will set expectations right off the bat. Your customers will more likely purchase a high or medium priced item when the high price is at the top of the list. 

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4. Red Numbers Feel Like a Discount.

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Studies show that red numbers are perceived as a sale. 

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5. Numbers That End in .99 Appear Cheaper.

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If you are looking to appear cheap, use this strategy. 

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With .99 at the end of a price, we automatically round down. 

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6. Odd Numbers Seem Like Better Deals Than Even Numbers.

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Studies show that numbers that end in 5, 7, or 9 appear smaller.

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So something priced at $30 seems much more expensive than $29 or $25. 

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7. Free Beats Discounts in Sales.

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A buy one get one FREE or a buy two get one free equates to more sales than a 30% discount. 

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8. Comparison Numbers Convince Us We’re Making a Good Decision. 

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Ever shopped at a TJ Maxx and thought you were getting such a score on that Michael Kors purchase because the price tag says you are only paying $99 but the bag was originally $170?

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If there is no comparison, it’s difficult to know if you are getting a good price.

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