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What's the science behind number 7 ?

by moneyhd
29 replies
Not talking about CR7.
Just wondering that what is the importance of number 7 is in IM niche . Almost every product is selling for 7,47,97,997,1997$ .
#number #science
  • Profile picture of the author DubDubDubDot
    It's just one of those things that's taken on a life of its own in the "make money online" niche. Some gooroos did it years ago and then their buyers did it and now it's just become expected practice. There's probably a fear that if you don't do it you'll look unprofessional.

    But no, there is no science behind the number seven. $97 isn't going to sell any better than $99.
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  • Profile picture of the author ripsnorta2
    I had heard that there is some psychology behind the use of 7.

    It's supposed to be a lucky number here in the west, and tends to be picked more than other numbers in lotteries. That doesn't mean it is lucky of course, but there's no accounting for superstition.

    Has that all been disproven now?
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    • Profile picture of the author vickybabe
      It is all about mindset of the customer apparently

      But also like mentioned above, it has been used so often that marketers think if they were to change it, they would fail miserably

      Honestly, i have found that it makes literally zero difference

      So put whatever number you like, 9.95 and 19.95 are good ones

      Hope that helps
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by moneyhd View Post

    Almost every product is selling for 7,47,97,997,1997$ .
    It's self-perpetuating.

    Things acquire momentum, and others copy them in the misguided belief that they must be working well, in order to have acquired the momentum in the first place.

    It's just like most things in internet marketing: someone once allegedly split-tested it with the menu prices in a pizza restaurant in the 1960's, and unfortunately one of those present was a "marketer"; ever since then everyone's copied it because "it must work, otherwise people wouldn't be doing it, would they?"

    Meanwhile, over the last few years, I've seen some testing done by my own former writing clients, among others, and discovered that:-

    (i) For a short report, $10 converted better than $7 (I thought $12 might have converted better still, but I couldn't persuade the marketer concerned to test it);

    (ii) For an e-book $39 converted slightly better than $37;

    (iii) For some coaching videos and a membership package $22 converted a lot better than $17.

    But the established wisdom is for prices to end in a "7", and it must work, otherwise people wouldn't be doing it, would they?


    .
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  • Profile picture of the author writeaway
    I used to sell solo ads for $8. Did pretty brisk business. I don't think it's the number... It's all about VALUE.
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  • Profile picture of the author moneyhd
    So its just a myth.. Glad to hear that as i have launched my product for 10.99$ :p
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    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by moneyhd View Post

      i have launched my product for 10.99$ :p
      My guess - knowing nothing at all about your traffic demographics - is that $11 will convert better than $10.99. Split-test it and prove me wrong!

      More seriously, testing is always a good way to determine a product's price, you know?

      .
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  • Profile picture of the author CurtisSWN
    It fools the buyer into thinking they're getting a deal. Badda bing, sale.
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  • Profile picture of the author Sokute
    I just found an article about importance of #5 and 7 in Marketing ) I don't think there is solid science behind that claims but anyway here is what it says: They represent the number of elements that the average human brain can remember.

    Five represents the low end and 7 the upper end of the range.

    Read more: The Power Of 5 And 7 In Marketing - Business Insider
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  • Profile picture of the author feuerbeke
    Its the magical number 7 from G.A. Miller .

    The Magical Number Seven, Plus or Minus Two: Some Limits on our Capacity for Processing Information
    George A. Miller (1956)
    Harvard University
    First published in Psychological Review, 63, 81-97.

    Source: http://psychclassics.yorku.ca/Miller/
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  • Profile picture of the author Adrianhenry
    I don't think enough marketers test different prices. Really in marketing one of the big psychological ideas is "pattern interupt".

    This idea stems from the fact that if out brains notice a pattern it will shut off. If something breaks that pattern we enter a state of higher awareness. Always following what other marketers do will just be falling into the pattern which cannot be overly helpful to your efforts
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  • Profile picture of the author lunaBEAM
    it's just a common practice that everyone does, it may as well be 9
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  • Profile picture of the author OliviasDad
    It's become the norm for the industry

    7 - 17 - 27 - 37 ad nauseum

    But to me, it's like the OTO - One-Time-Offer

    That's never true... show me an OTO that if you don't buy it on the day you buy the FE that the product owner WON'T sell it to you at a later date

    OTO and OTO1 and OTO2 have just become the norm for what we consider upsells and downsells.

    But the truth is, certain things become regular process and stay that way, even if the naming conventions are wrong

    If you sell someone a product that gives them VALUE, no matter if you sold it for 7 or 9.99 or 14.99, or 13.72, good value will always bring you back a customer
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  • Profile picture of the author sunray
    7 is the number of perfection and completion, as G-d created the world in 7 days. Well.. actually in 6, the seventh was the day of rest, but it completes the cycle. There are 7 colors in the rainbow; the world has 7 continents. And YES, there is a science behind number 7, kabbalists see great significance in it.
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  • Profile picture of the author RealCasher
    While I am writing this reply, I've seen the bottom ad says: 997 clicks for $17 haha

    Well they say it has something to do with human psychology about being seven a number that can increase conversions, but It's just blabling..

    If you see in supermarkets they have another number which is: .99

    A product X cost $1899 technique is understandable, because the regular person subconsciousness will thinks, oh this product is $1800 not like the one I've seen in the other supermarket for $1900

    His subconscious will assume it's cheaper by $100, in fact it's cheaper only by a $1.

    And trust me this technique works like a charm, I've seen people in supermarkets fell for it.

    And to sum up, number 7 is my favorite ... it has some energy in it.
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  • Profile picture of the author brutecky
    $9.95 is eventually $10 but it 'feels' lower.

    As for the 7's .. people feel that prices ending in 7 convert better. However in truth I have never seen a single study on it so it may just be a myth that has become accepted because everyone believes it.
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  • Profile picture of the author We Sell Sunglasses
    We used to do the whole $9.97 thing and then I realized that it was sort of demeaning to our customers so now we use even dollar amounts.
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  • Profile picture of the author Slade556
    It's sort of a marketing strategy, if you will. Seeing that something costs 9,97, instead of 10, it seems cheaper. I see this strategy applied all the time! In the offline world (clothing stores, food stores, everywhere!) and in the online world (have you ever bought hosting for $4? I doubt it, it's always $3,97!)
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    • Profile picture of the author feuerbeke
      You will find that the differences between your pricing points are going to greatly affect your customer’s perceived value of your product (and how they convince themselves of what to buy).

      A social psychologist realized in an experiment that there were 3 very peculiar price points:
      1. A web-only subscription for $59
      2. A print-only subscription for $125
      3. A web + print subscription for $125
      He notes that this doesn’t make sense, as option 2 seems “useless” in that you’d be better off getting the print + web for the same price.
      He follows up with an interesting study that examines what would happen if he took out the middle price:
      His findings?
      The price in the middle, while seemingly “useless” in that it didn’t provide any value (since the print + web was the same price) was actually useful in that it helped get costumers to turn from “bargain hunters” to “value seekers”.
      What was happening was that customers began to compare the middle option to the latter option (since their prices were similar) and this comparison made option 3 look like an excellent deal.
      Without the middle option, we can see that the price points set by the economist had too much contrast: when the middle option was taken away, people looked at the two prices and tried to convince themselves that they didn’t need the “upgrade”.
      Essentially, they became “bargain hunters” rather than “value seekers” which are the kind of customers you really want.
      With appropriate pricing in place, you can offer customers options that fit their budget, while at the same time influencing “on the fence” customers that your more premium offerings give enough benefit that their extra price is justified.
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      • Profile picture of the author quadagon
        Originally Posted by feuerbeke View Post

        You will find that the differences between your pricing points are going to greatly affect your customer's perceived value of your product (and how they convince themselves of what to buy).

        A social psychologist realized in an experiment that there were 3 very peculiar price points:
        1. A web-only subscription for $59
        2. A print-only subscription for $125
        3. A web + print subscription for $125
        He notes that this doesn't make sense, as option 2 seems "useless" in that you'd be better off getting the print + web for the same price.
        He follows up with an interesting study that examines what would happen if he took out the middle price:
        His findings?
        The price in the middle, while seemingly "useless" in that it didn't provide any value (since the print + web was the same price) was actually useful in that it helped get costumers to turn from "bargain hunters" to "value seekers".
        What was happening was that customers began to compare the middle option to the latter option (since their prices were similar) and this comparison made option 3 look like an excellent deal.
        Without the middle option, we can see that the price points set by the economist had too much contrast: when the middle option was taken away, people looked at the two prices and tried to convince themselves that they didn't need the "upgrade".
        Essentially, they became "bargain hunters" rather than "value seekers" which are the kind of customers you really want.
        With appropriate pricing in place, you can offer customers options that fit their budget, while at the same time influencing "on the fence" customers that your more premium offerings give enough benefit that their extra price is justified.
        I assume that you copied that straight from kissmetrics due to the fact you also printed the same mistake they did.

        The original experiment is by Dan Airely and is regarding the decoy effect which is at the opposite end of the paradox of choice. Neither of which are the issue at hand.

        With regards to the number 7 put aside or spiritual and society talk as its irrelevant you don't think of seven as the number of perfection when buying 7up or going to the 7/11.

        Pricing is really complicated to study as its tied into value propositions, market segmentation and a number of other factors. From my research of the published papers it seems that the science of price falls into three takeaways:
        • High End Items should have round number. When you are buying a Aston Martin the perceived value is important - you want people to know you spent money so dropping to a 9 price ending is irrelevant.
        • Most pricing is better off finishing in a 9. In tests (even when the product was priced higher) those ending in a 9 perform best
        • Customers respond better to exact prices. So if you are selling your house you are better off listing it at 253,450 than you are at 250,000. Tests show you are more likely to get the actual asking price. In the cases where the price is negotiated then the amount of discount (percentage wise and actual) is less when using precise pricing.

        Despite those generalizations you also have to take into consideration social and niche norms. A great example is in electronic market in the UK where you see a price ending in .97 or .98 means that the product is end of line and you can get more discount.

        It doesn't however mean the same in other markets.

        So with regards to the 7 ending their is no scientific studies that show its value (in fact their is more evidence against it).

        What you see in the IM world are people who see correlation and assume causation.
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  • Profile picture of the author aire
    There is no science behind it.... Often when i see people pricing product 97$ or $1997 I get a feeling that they are just copying and do not use their own reasonings.

    Some guy was selling a brick and mortar store for 797k . I smiled and moved on.
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    • Profile picture of the author Adrianhenry
      Originally Posted by aire View Post

      There is no science behind it.... Often when i see people pricing product 97$ or $1997 I get a feeling that they are just copying and do not use their own reasonings.

      Some guy was selling a brick and mortar store for 797k . I smiled and moved on.
      I was thinking about this earlier actually. How the overuse of the 7 in pricing can now lead to people actually avoiding it because it may be anchored (any NLP people around? ) in their mind that a price ending in 7 will be an over hyper under delivered product as is so prevalent in the MMO niche where the use of the 7 is also widespread.
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  • Profile picture of the author Ben West
    I will never make my decision to buy something due to whether the price ends in 7, and I doubt anyone else does either. It's just a thing the came to be and won't go away.
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  • Profile picture of the author rafsco
    The same science that is behind the Tahoma font
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  • Profile picture of the author Jesse MindfulMoney
    Read up on number and pricing psychology
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  • Profile picture of the author Jeff Burritt
    Banned
    After extensive research, and many hours searching google, I've discovered that 7 comes directly after 6, and immediately before 8.
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    • Profile picture of the author discrat
      It is just a viscous self fulfilling prophecy. This Marketer does it and that one has done it as well so I guess I have to do it.

      Thats all.



      - Robert Andrew
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  • Profile picture of the author niles
    I noticed that the big thing lately is to start products at $4 on a dime sale. I was wondering what started this?

    Niles Miller
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  • Profile picture of the author QueenMelanie
    The number 7 was always the number that stood out to me, well that and 17!
    It is a common one though, I guess its just rooted in us, like colors..
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