Local traders have been around for so long that their expertise in the business is well established and they have all the price tips we have to offer. Every day, e-commerce rediscovers things that have already been discovered for decades, while still adding something unique. : the measure.,
Indeed, traditional traders have above all intuition or “tips” that work for them. Mecca Is it reproducible on a large scale as e-commerce demands?
At the end of this article, you will also learn how to sell Lajouni Cashus like a pro… (See Tips 4 and 7).
When you’ve created your offers using the AIDA method, just apply these pricing tips.
You’ll also be helped with this task by Robert Cialdini, author of Influence and Manipulation 
As well as Joule and Beauvois, authors of the short treatise on manipulation for the use of conscientious people.
1 – Price Spec: 0.99, 0.80, ends with 0.90 … does it work or not?
Ah the famous psychological value.
All traders use it, but do they know if it really works?
So customers will be so stupid they won’t see what’s after the comma?
A study from the University of Chicago tells us that if the general reading direction of the people tested was left to right, the perception of a price at .99 was tied to the earlier figure.
The customers surveyed felt that 9.99 is closer to a 10 out of 9!
University of Chicago Studies on Attraction Pricing and Prestige Pricing
To go further into this price move, the researchers wanted to see if a sudden number 9 Was psychologically connected Putting clothes of the same kind for sale in a store.
The price of one crossed at 45 € / $ 60, the other crossed at 49 € / $ at 60 €.
Result: The second offer, though more expensive, sold more than 24%!
Here the explanation is precisely the widespread use of .90 / .95 /.99 which is giving number 9 feeling of Promo, cheap.
The simple conclusion is that using the number 9 “promotes” and therefore makes it seem like a lower price than using it.
we call it “Attractive Pricing” (Attractive Rewards)
Increasing your margin by selling at 9.90 instead of 8 just because you look cheap is stupid.
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Second value tip: Size matters
It doesn’t seem so, but in terms of price yes.
A / Anchoring
In psychology, we talk about the anchoring effect, or labeling bias, to explain how the words used to define someone or something affect our perception of us.
so I have to advise against Here such a phrase is often encountered: “At great price…” “Price heavier than buying…” “ETC”.
for one price seems small, you have to paste all the cutest superlatives that are: Small, cute, beautiful, kiki …
For older folks, we’ll remember the Mini Mir – Mini Prix ad, but this does the max! Suffice it to say that price moves are fully used here.
b / the size of the price crossed
To sell for a low price, nothing like that compare to a large,
In fact, a customer can judge quickly only by comparison.
Therefore the use of a cross out value is highly recommended, but should be done contrary to the most common practice today.
Usually, we write the crossed out short price to show the new BIGGER price!
Here the anchor effect is abused, because by writing a high price, it allows one to steal the show from the product and, ultimately, poorly show the discount offered.
So it is good practice to write new short price and very big crossed out price.
Also, the interest of the given promotion is highlighted.
c / per instance
I offer here the only counter-example where writing down a very large price makes it seem trivial: value addition.
Sometimes, we want to sell a price, the affiliate product is ultimately only of great importance.
The idea here is to create volume and therefore we will display very low prices.
Cazako?
For simple, selling price, it must be shocking with its smallness to the product it defines.
How did a bottle of champagne sell for €3?
Be careful though, playing this game gives a poor quality image of the product, but it is the most commonly used technique when it comes to selling trinkets.
Third Value Tip: Reputation Value
The notion of prestige value was discovered with the development of luxury brands.
Actually, the number 9 means promotion, discount, giveaway etc.
We would avoid using it for luxury brands or products for which we do not want price to be the most important concept.
A round price ending in 0 is also considered reliable and valuable (University of Chicago study).
We conclude that for the consumer, a rounded price makes it possible to spend his purchase emotionally and hence it is possible to decorate it with a price.
Be forewarned, though, as we know that purchases are never 100% emotional or rational.
Fourth Prize Tip: Introduce the Person
This paragraph is dedicated to the people who sell it variable quantity.
Seller by kilo, by hour, by litre, by meter…
These concepts should not be the main display of an offer!
The good reason for this is simple: in addition to the pro, the seller … Who understands something?
Certainly not the customer.
Imagine my favorite butcher who keeps explaining to me that his roast beef costs €22 per kg (22.90). uncountable thing of style:
“You need 180 grams per person.”
This is what my butcher does all the time.
This terrible shopper, no matter how good he is, asks me on a Saturday when his shop is armored to multiply 180 grams by 22.90€?!
this guy is crazy and i still havethe impression that it is more expensive Compared to my tray I took from the supermarket where the price is listed per piece and even makes you forget that there is a price per kg.
he absolutely must know she herself The result of its multiplication and tell me it will give me around €4 per person, quite simply.
For example Question: Do you know the cost per kg of Lajuni cashew? some mustard? chewing gum? (The answer is in the 7th price tip!)
5th Value Tip: Present in a Batch
I am here to open an open secret for you.
However, it is important to understand how much works.
To make full use of this, we’ll take care to fill our “basket” with multiple items of different values.
This is the ideal way to show the overall value on a service, item or whatever you are selling.
I use the cross out price here as well To give this interesting volume promo effect here as mentioned above.
Sure, this old-fashioned trick seems obvious, but it’s often overlooked or sloppy in the end.
It will be used in mobile marketing as well as e-commerce or traditional local commerce.
Tip Six: Present the Inaccessible Star
Contrast effect has been used here.
This cognitive bias Still in the game and using it is simple.
show premium products too expensive, completely unattainable, inaccessible.
Also display low-end products Too small to be reliable.
Lastly, showcase the product you really want to sell at its normal price or a little more if you want to maintain your margin.
I myself have used this method in my old business in another life and I guarantee that it has given me many positive effects:
- look cheap;
- Increase the volume with ease, as this range covers all possible needs that do not allow customers to look elsewhere;
- Sell ​​or buy what I decided;
- Plan my purchases and therefore better negotiate upwards.
Tip 7: Yours and Lajouni
Tell me in the comments what your little secret trick is!
I take this opportunity to give you the answer of the cost per kg of Lajouni.
I want to warn that this will shock sensitive souls.
Be careful, hang up your little reader belt and don’t forget to check in the store! Price is written in the caption of this image
To finish
Together we looked at how to ideally display your prices in each situation.
This notion of pricing is still poorly understood and yet having these bases allows us to develop very clever strategies to be successful in driving up prices.
I called it: reverse price elasticity
for your comments!