Intelligence you can use TODAY - to increase profits
Pricing isn't all logic. People also buy at one price and not at another for psychological reasons - many of which they don't understand. Yet these psychology-based choices have been documented by pricing strategy experts in tests of hundreds of millions of consumers. Here's how pricing psychology can work for you.
"We implemented your book's pricing strategies -- to the tune of a 300% increase in sales!"
DOES 'SUPERMARKET PRICING' REALLY WORK?"Are consumers really 'fooled' into thinking that a $9.99 price is cheaper than a $10 Price?
"Apparently so: In her new Pricing Psychology Report, pricing expert Marlene Jensen says that a $9.99 price will probably pull 10% to 20% more buyers than a $10 price.
"Why? Certainly not because of the one cent difference. The report states: 'There is a learned pattern response in our brains that makes us see $9.99 as much lower than $10. And it persists, even though most of us know this trick.'
"To order Marlene's report (which I highly recommend) visit pricingpsychology.com"
-- Bob Bly
Bob Bly's Direct
"I plan to reread this book often for its guidance on pricing. I thought I knew all about this stuff, but Marlene Jensen sheds more light on what I should, and really shouldn't do. I can't estimate what that's worth to a business like mine. Thousands of dollars? Maybe millions in the long run."
-- Claudia Levine
How to raise your price and get MORE sales!
You might believe that there is no such thing as pricing too low - from a consumer perspective. But you'd be wrong.
In 1992, I launched Ancillary Profits newsletter (sold to magazine publishers) at a price under $100. A few months later, I tested that price vs. one well over $100 -- a 31% price increase.
What should have happened? A common "rule of thumb" in marketing says raising prices by 10% will decrease orders by 10%. Thus I should have received 31% LESS orders. Instead, my orders went up by 11%! At a 31% higher price! If you do the math, that means I got to pocket 45% MORE CASH for the very same product.
Will this work for you?
PRICING PSYCHOLOGY REPORT explains WHY higher prices can sometimes attract MORE buyers, and what market conditions make it more likely to happen. Many of these factors are under your direct control. Armed with this knowledge, you can figure out how to make it work for YOUR products and/or services.
You probably know this psychological quirk
Which of these two prices will get more buyers?
Yes, the $9.99 price will be the winner (except for one particular category of products - as you'll learn in PRICING PSYCHOLOGY REPORT). The $9.99 price will probably pull 10-20% more buyers than the $10 price.
Why? Certainly not because of the single penny saved! There is a learned-pattern response in our brains that makes us see $9.99 as much lower than $10. And it persists - even though most of us know this trick.
You probably do NOT know about "magic numbers"
There are many more such psychological quirks - or emotional reactions to numbers - in human brains. Quirks a pricing-strategies-savvy marketer must understand in order to generate as many sales as possible.
Here's an example:
Which of these prices will pull up to 10% MORE ORDERS?
Yes, one of the above prices has been tested in millions of direct mailings and found to get up to 10% more orders than the other prices.
Yet, you needn't spend that kind of money testing them. You can learn the answer in PRICING PSYCHOLOGY REPORT.
But this doesn't only apply to such small prices. It's also been tested and found to apply to:
Look at the last number ending the prices you currently charge. Maybe, by chance, your price uses the correct number.
But, look at the odds. You've got just a 1 in 10 chance your price is the one most likely to increase your sales. PRICING PSYCHOLOGY REPORT will let you change that last number and increase your cash by up to 10%. No, we can't guarantee that it will work for you. But hundreds of direct marketers have tested this and found that it DOES WORK for them.
The pricing strategies in this section of the report alone are worth AT LEAST thousands of dollars for you!
You don't sell by direct response?
If your product or service isn't sold by direct response - it doesn't matter. We look at direct response price tests because they are the clearest, cleanest price tests that can be conducted. You don't have extraneous variables, such as store locations, different cities, etc. all affecting results. With direct response (both by mail and over the Internet), everything is exactly the same - except for the price. So we can prove these pricing strategy tests are statistically reliable and valid.
In 3 statistically reliable price tests for clients and myself, I have personally found one number between 0-9 to be DEADLY. When I used one "poison" number in the price - sales plummeted.
In all tests, there were 3 prices tested. Call them higher, medium and lower. The expected results would be something like this:
HOWEVER... in these three tests the medium price performed terribly. It pulled just 16 orders for one client and 26 orders for the other. (Compared to over 50 orders each for the "highest" and "lowest" prices.) In the test for my own product, I got:
Why? Each of the three "medium" prices that bombed included a number that was not used in any other price tests I've done for my own or my clients' products. So - the only time I've tested prices with this single number in it - the results have been a disaster.
You'll learn this number in PRICING PSYCHOLOGY REPORT. If you discover it's a number used in any of your prices, I recommend you immediately test a price without that number. It could make a big difference in your sales.
How to charge higher prices to one group - and lower prices to another - legally!
Some people want your product, no matter the cost. Others will buy only when you lower your price.
Being a good marketer - you want to have your cake and eat it too.
PRICING PSYCHOLOGY REPORT shows how you can identify these two different customer groups and learn which are psychologically predisposed to pay more and which are not. It also shows you pricing strategies that allow you to legally price your product(s) or services differently to those groups.
Further, this report shows you how to let your customers sort themselves into your two different price groups - without you having to figure it out yourself.
And... PRICING PSYCHOLOGY REPORT shows you how to keep the two groups perfectly happy paying two different prices. No complaints. No annoyed customers. Just fatter profits.
How to test prices - easily & reliably
PRICING PSYCHOLOGY REPORT will raise many interesting ideas for you - ideas that could greatly increase your revenues. But... how can you make sure they'll work in your market with your customers?
If you sell anything online - or COULD sell something online, just to test the pricing - you're in luck.
There are two online solutions today that will let you do what is called "perfect A/B split" price testing - which you need to have reliable test results. A/B split testing means simply:
Why is this important? Because if you instead tested price "A" on one day then price "B" on the next day, there are too many extraneous variables that could have affected the results. Variables not at all connected to the prices you're testing. There might have been a news item in your industry one day that made people more or less likely to buy your product. There might have been bad weather one day that kept more people inside where they were computer surfing - and more predisposed to buy. Only by A/B split testing can you be sure that the different prices are the only thing affecting the results.
Great news - both of these online price testing tools are FREE! You'll learn about both in PRICING PSYCHOLOGY REPORT - and how you can use them to set up your own price testing. Once you can test prices, you'll KNOW what you're charging is the most profitable price. No more leaving thousands of dollars on the table that you could have collected. No more guessing. No more worrying.
No time-wasting mumbo-jumbo
The PRICING PSYCHOLOGY REPORT contains no textbook theory or page-bulking-up blather. It's just 11 chapters (56 pages) of pricing strategies that have real-world testing to back them up:
Special discount & guarantee
PRICING PSYCHOLOGY REPORT should be priced at $150 or more, given that the wisdom it contains from thousands of price-testing marketers could easily increase your profits by thousands (or hundreds of thousands!) of dollars.BUT... if you order today, , the report can be yours for just $47!
Pricing Strategy Associates
© Copyright 2004-2010 Marlene Jensen.