In most cases, you can increase your prices by as much as 15% by moving from left to right. But what if you wanted to increase your prices by, say, 20%, instead. Well, then you move from right to left. What does all of this right, left, right mean? Well, listen or read this pricing […]
Pricing Psychology: The Choice between Yes and Yes
Three year old Kara was throwing a tantrum. She didn’t want to go to bed, of that she was certain. “Do you want to brush with the red or blue toothpaste?” her dad asked gently. “Blue,” she says, glad to be given the opportunity to make a decision. Ten minutes later, Kara was well tucked […]
Why Ending Your Prices with “9” Won’t Sell More Product
There’s one reason why you should sell with the price ending in a 9.That reason is to increase your profit. If I sell at at $39, instead of $37, I will make two additional dollars per sale, which means that over time I will earn a lot more, just because of those few dollars. But […]
Persistent Myths of Pricing (And How To Overcome Them): Part 2
Should you lower your prices? In Part 1 of Persistent Myths of Pricing (And How To Overcome Them), we looked at Myth 1: Ending prices with 7 or 9 (e.g. $97 or $99 instead of $100) Now, let’s look at Myth 2: The Fear of Pricing—You can feel the “right price” in your gut. Should […]
Persistent Myths of Pricing (And How To Overcome Them): Part 1
When you’re giving away bonuses, it’s easy to believe you don’t need to give away your best product or service. The best information always needs to be sold—so you can earn a decent living. And yet, this podcast episode takes an opposite stance. You need to put your best stuff out in front—free. Yes, give […]
The Amazing Power of the Challenge (And How To Fire Up Your Audience)
When you’re making a presentation, how do you fire up your audience? There are many ways to get that Powerpoint or Keynote presentation going. But one of the most effective ways is to issue a challenge. The audience then waits for you to succeed (or fail). But you can’t fail, can you? You’re a magician […]
Why Higher Prices Get More Attention Than Lower Prices
Let’s say for a moment your name is Richard. And as Richard you’ve developed some great beach tennis bats. And, let’s just say the bats are really something. You’ve spent a good year or two getting it up to your standards. And now you have just one problem: Your sticker price is too cheap. Cheap? […]
The Science of Undervaluing Yourself (And How To Overcome It)
Do we charge less? Do we value ourselves less than we should? Do you think that sometime in the future, there will be this perfect product at the perfect price, and the perfect client will come along? I used to have a client who had exacttttttly the same problem And I can categorically tell you […]
Why Customers Buy Products At Higher Prices (More Than 95% of the time)
Imagine you’re going to a workshop. The price of the workshop is $700 (Let’s call this Option A). And then there’s a premium version of the workshop that’s priced at $770 (Let’s call this Option B). Which of the two options would you choose? The higher price or the lower price option? I know, before […]
Pricing: Should You Allow The Customer To Decide?
In the year 2007, the rock band Radiohead did something really unusual. They gave their customers the chance to pay whatever they wished for the album. If you wanted it free, it was yours to have. If on the other hand you wanted to pay a few bucks, well, that was your prerogative as well. […]
