7+ Tricks for Making Your Price Look Like a Bargain (Pricing Strategies)

If you’re like most marketers, you’re probably always looking for ways to make your prices look more attractive.

Now, many brands will rely on discounts and special offers to steal shoppers away from the competition.

Instead of slashing prices, try using psychology to make your prices look like a steal.

How to Make Your Prices Look Like a Bargain

Some recommendations:

1 – Anchoring

This is a technique where you display the product you want to sell next to a similar, but much more expensive product.

It helps customers believe they’re getting a great deal by opting for the cheaper, yet similar product.

2 – A smaller time frame

If you’re selling a frequently-used product or service, try to “zoom in” the timeline. Instead of “$1,200 per year,” say “only $3.30 per day” or “$23 per week.”

3 – Smaller fonts are better

Believe it or not, big fonts appear expensive and obtrusive.

Using a smaller font makes your price seem more affordable.

4 – End with odd numbers

Shoppers perceive odd numbers as smaller than those ending in 0. So it’s much more effective to price your product at $99 or $97 instead of $100.

5 – Use a decoy

Put a third, middle-priced option between a lower and a higher-priced product.

The middle-priced option should offer much less than the higher-priced option for a slightly lower price.

This decoy will “nudge” a buyer to a higher-priced product since it’s a better value.

6 – Scrap the dollar

A dollar sign, or even the word “dollar” can make customers feel the pain-of-paying.

So try pricing your more deluxe products using plain digits.

7 – Remove the comma

A comma “extends” the price, making it appear bigger. Remove the comma and the price instantly drops… at least in your customer’s eyes.

7 Pricing Strategies – How To Price A Product

And there you have it…

Simple shopper psychology may help you during critical periods, such as the holiday season.

We’ll leave you to adjust your pricing now…

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