Fabian Tan

In my experience, pricing is one of the key factors in determining how many sales of your product you make. A difference in pricing can mean the difference between making wild profits to merely breaking even, even if your product and salesletter remain unchanged! Yes, it sounds radical and even ridiculous, but testing from many expert marketers has proven that is the case.

So what are some pricing strategies that you can use for maximum sales and profits?

Well, it doesn't necessarily mean that the cheaper your product is, the more you will make. The right pricing strategy has a lot to with psychology. Online, the best numbers to end your prices are 7 and 5. Somehow, 9 does not work as well online for some reason.

So, a product priced at $19.97 will usually sell more than a product priced at $19.52, for instance.

And sometimes it's even better to increase your prices! In some weird cases, increasing your prices actually increases your sales. I know it's weird, but it's true. We link price tag to the quality of a product. If a product seems too cheap to be true, then it won't get many sales. On the other hand, if you price it high, curiosity might get the better of them and they will buy because they believe they are getting better quality (and you should always offer more value than the price tag you set! That's what will get you repeat customers).

Before you sell your next product, consider these strategies. Or make some changes to your existing pricing strategies.

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