Anyone use the following technique to increase conversions?

by GoodnightSweetRatRace

Posted: 14 years ago 11 replies

INTERNET MARKETING

For those who review products, I found that purposely saying that the product costs more than it actually is, increases conversions.

For example, the product you're promoting is $27.

In your review you say something like "The guide is selling for only $54 at the moment, which is incredible for what you get."

If they click your link and they are interested, they are mentally prepared to pay $54. When they see that it's infact only $27 it gives them more incentive to buy, because they think they are getting a temporary half price deal.

Could be luck, but i've definately seen an increase on one of the products I'm promoting.

Thoughts?

#conversions #increase #technique

tpw

14 years ago

Originally Posted by GoodnightSweetRatRace

Could be luck, but i've definately seen an increase on one of the products I'm promoting.

A friend of mine did it once by accident... He noted that conversions went up...

The first couple times he did it on purpose, he did it on products he had been selling for a long time... Conversions increased on both...

Now he does it for every single product on purpose...

p.s. I probably should too, but I never have...

Thanks
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Publish Coloring Books for Profit (WSOTD 7-30-2015)

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GoodnightSweetRatRace

14 years ago

Originally Posted by tpw

Good to hear this

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Will Edwards

14 years ago

Originally Posted by tpw

How odd: a fellow Warrior told me exactly the same thing a couple of years ago, but he was quite keen to keep it quiet.

Will

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Paul Hancox

14 years ago

This is called price conditioning.

Good salespeople do a more advanced version of this all the time. They get people to EXPECT a higher price, so that when they finally come in at a lower price, it is a RELIEF in the potential customer's mind

What you're doing is a basic form of price conditioning. They're expecting the higher price, so when they see a lower price, they're like, "Oooh!" in the mind.... and they're more likely to hit the Buy Now! button in that frame of mind.

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Lance K

14 years ago

Originally Posted by GoodnightSweetRatRace

Originally Posted by Paul Hancox

When you intentionally plant a specific price (that you know isn't real) in your prospects mind, you're lying.

I'm not talking about demonstrating value and letting the customer create their own expectations. I'm talking about specifically stating that it'll cost $54 when you know all along that it's really only half of that. You're not pre-selling the value of the offer. You're tricking them into accepting a certain value by intentionally making a false statement.

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Paul Hancox

14 years ago

Hi Lance

Originally Posted by Lance K

True, in the above example it's just blatant lying.

That's why salespeople use a more sophisticated version. They don't necessarily mention specific prices, they just raise the expectation that "this is going to be expensive".

Now, in the original poster's example, there IS a way of doing something similar to what he was already doing, without lying OR misleading.

Something like...

"This guide, at under $60, has..."

Guess what... this is a TRUE statement, and it also has the advantage of factoring in any price increases the product owner may wish to implement.

This is NOT misleading, because it's saying the guide is under $60, but you have to click through to find out HOW MUCH under $60 it is

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Lance K 14 years ago

Thanks for the response, Paul. I agree.

I didn't mean to implicate that you support lying by my use of the multi-quote function above. I merely included your reply so that people didn't take what the OP is talking about and what you were talking about to be the same thing. Price conditioning done right is a very powerful tactic.
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tpw

14 years ago

Originally Posted by Lance K

This is the reason I have always hedged on doing this... I don't feel I should need to lie to get the sale...

However, the OP who said that price conditioning the prospect to "under $60" has helped me to see a more appropriate way of introducing this, without actually having to lie about anything...

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oneplusone 14 years ago

Firstly, as Lance says I don't think it is a great idea to pretend a product is/was selling for $54, however if it did sell at that price, and you are offering a genuine discount - you can still gain the same effect.

One of the ways to do it is an unannounced discount.

For example, if your product price is usually $54

You e-mail your list, and give them a reason to visit the sales page again but you don't mention the discount

Then they get a pleasant surprise when the see the unannounced discount, and the price is only $27

It is a variation of the unannounced bonus, only in this case you are reducing their financial burden rather than adding anything.
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