Hi Trailblazers,

This week I’m going to shift and fill your beautiful minds with an obvious, but often overlooked, game-changing pricing tactic that’ll help you price your services to drive up sales.

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Sponsored by Klever Strategies, Digital Marketing Consultancy

Marketing Nugget

Use This Hybrid ‘Just-Below’ Pricing Strategy

🔑Wondering how to tweak your pricing just a bit to powerfully shift buyer perception and drive more sales? 

Picture this… 💡

💡 Your pricing is transparent and fair, yet you're not seeing the boost in sales you've been aiming for. It’s a discouraging scenario, especially when you’re doing everything else right in your promotion or ad campaign.

Solution: 🛠

Leverage the "$-99 pricing" (Just-Below pricing) method, but with a game-changing detail: 👇

Showcase the original price alongside the new discounted price.

This could turn a static $2500 into an attention-grabbing

🏷️“Was $3000, Now Only $2499!” tag.

Why does it work? 🧠 

This strategy harnesses two human behaviors: avoiding detailed processing of costs and using a reference point.

Presenting a price as $2499 compared to the rounded-up “original” of $3000 capitalizes on the visitor's natural tendency to cling to that left-digit, fading the real logic, yet, transfixing on the comparison and thus the "large” price gap between “24” and “30”.

It’s a.k.a. "charm pricing," which involves ending prices with the number 9 (e.g., $9.99 instead of $10).

This "left-digit bias" where consumers disproportionately perceive the left-most digit of a price, making a price of $599 seem substantially less than $600, even though the difference is minimal could increase sales by 24% compared to rounded prices​!

Some other numbers I’ve seen a significant impact from have ended with $X47, $X67 and $X97.

How To Act Now:  

1. Review Your Sales Pages: Find stand-out services or items that could benefit from a just-below pricing nudge.

2. Prominently Show Price Reductions: Place the service's new and original prices next to each other to clearly show the hard-to-miss gap.

3. Analyze and Optimize: Use this strategy for services that make a good profit, targeting new customers who aren't yet fully aware of how great your offerings and conditions are.

The Bottom Line? Give a Reference Point.

That approach of pricing something just a bit lower and showing the "before" price really grabs the attention of those who love a good deal.

It’s perfect when you’re trying to capture interest, make a splash with your brand, or pull in a crowd of folks new to what you’re offering.

Remember, small tweaks can make a compounding impact in your annual revenue.

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