Have you ever wondered what makes someone choose one product over another?
Well, it's not just about the price; it's about the perceived value.
And as wild as this may seem, the perceived value is oftentimes associated with a higher price.
Take it from someone who was in the luxury wedding photography industry…
Some people would ask the price not to make sure they can afford it, but to make sure that very few people can.
In this episode, you’ll learn my four-step framework for determining your price, how to increase the perceived value of your offer, and psychological strategies to get more sales.
Click play to hear all of this.
Register >>HERE<< for my free masterclass, How to Double Your Revenue in 60 Days with a Proven Launch Plan!
(00:00:01) The discomfort around money, and beliefs about pricing.
(00:02:13) The impact pricing has on your business.
(00:04:29) Should you discount your offer?
(00:05:37) Strategies to increase the value of your offer.
(00:11:00) How pricing shapes the perception of a brand.
(00:13:57) How to use psychology in pricing to spark emotions and drive sales.
(00:15:52) How to use the “Decoy Effect” in your pricing strategies.
(00:17:57) How to know if you should use odd or even numbers in your pricing.
(00:20:16) The strategy of bundling and adding bonuses to enhance the value of your offer.
(00:21:16) The psychological impact of bundling products and services together to create a perception of value.
(00:25:21) The strategy of creating a sense of scarcity and urgency to encourage faster decision-making.
(00:32:42) The benefits of offering tiered pricing to increase conversion rates.
(00:39:22) How to determine the dollar amount to charge.
For full show notes, visit:
https://jasminestar.com/podcast/episode399
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