12 "invisible" ways to raise prices Yes, 12 of the 46 pricing strategies in this book are ways you can raise prices -- without customers even noticing it.
See, pricing isn't all logic.
Our brains are set up to notice some things in our environment and not others -- even when they're right in front of us.
For example, you've probably already noticed that many merchants price at $9.99 instead of $10. Those who have tested the two prices have found that they can increase orders 5-15% by dropping that penny.
Is this logical? Should a penny difference in price cause 10% more people to buy the product? No way.
Proof: Try changing your price from $9.99 to $9.98 and see if you get 10% more buyers! (Hint: I've tested those two exact prices and there was no difference in buyers.)
Now... suppose your current price is $9.98. Or $9.90. And suppose you raised it to $9.99. Or suppose your price was $88 and you raised it to $89.
Would your customers notice the difference? Probably not.
Memory tests with consumers have shown that most of them remember $9.90 OR $9.99 as "9 something." And most of them remember $88 OR $89 as "high 80s."
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Table of Contents:
- Introduction - How to get the most from this book
- Section I - Opportunities provided by your competitors
- Section II - Change your customers
- Section III - Price-only changes
- Section IV - Product changes
- Section V - Product repositioning
- Section VI - Packaging changes
- Section VII - Distribution changes
- Section VIII - Promotion changes
- Section IX - Changes with salespeople & price negotiations
