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Pricing - The Magic 7?

by keystothemind
3 replies
Hey
I've read that prices that end in the number 7 convert more.
(thus a $197.00 course would, if the only variable was price, sell slightly better than a $196 or $198 course, if I've interpreted this correctly?)

I realize with pricing nothing is concrete and only with testing in our specific niche can we really know which numbers work, but based on the number of products around here and elsewhere 7 seems to be a very common end number.

In your experience and reading, is the idea that 7 is the 'magic' pricing number generally accurate, and why would that be?

Any insight into this idea and what makes it work would be much appreciated.

Cheers
Nathan
#magic #pricing
  • Profile picture of the author DavidO
    I've read on numerous occassions that a well-known marketer tested this a few years ago and proved that "7" prices covert better.

    However, that was one set of circumstances only and you're right to point out that it really needs testing. You can't blindly follow these conventions.

    My response to this is... if "7" prices convert so well how come print and TV advertising overwhelmingly use the $9.95 or $9.99 format? Print and TV have a long history and huge advertising budgets. They would not stick with a losing formula.

    I highly recommend testing this with your own offers.
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  • Profile picture of the author scarpet1
    Yes but is your sales page going to sell better to $7 buyers or $197 buyers?
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    Quote" The goal of education is to replace an empty mind with an open mind."Malcolm Forbes

    Straight Talk Wireless
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  • Profile picture of the author Jag82
    I don't think we want to take the $7 dollar (or price ending with "7") as the holy grail of pricing.

    Testing and validating will give you the true answer.
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