First off, these pricing psychology tips to boost your sales page are not silver bullet solutions to making fast cash.
If you’ve been doing the digital business hustle, you know how big of a lift a new offer can be. I don’t need to tell you how much brain juice, time, energy, and effort goes into creating a solution that genuinely helps solve your customer’s problem.
So while they’re not silver bullets, these commonly used pricing and design tactics harness human psychology to make people click that buy button!
Pricing with “Magic Numbers”
In her Pricing Psychology Report, Marlene Jensen, CEO of the Pricing Psychology Institute reaffirms that millions of direct mail tests and their results have thus far held up in identifying 7 as a magic number.
In fact, multiple psychological studies have found that prices ending in 7, 9, and 5 convert best — in that order.
When offering a digital download, online course, or online coaching program, remember this as you work to define your offer pricing.
What’s more, if you’re helping to make your program more affordable to a wider crowd and offering a split pay option the same rule applies.
For a full payment option of $497 for a primarily self-led course, you would also create a 3 pay plan of $197. You will then incentivize the pay in full option by visually re-emphasizing a savings of $94.
Show ‘Em the Money
Don’t make people guess at the value they are getting — this is one of the most common mistakes I see on sales pages. This means assigning a value to every piece of core content included in the offer and all of the bonuses.
That said, these values should be realistic. You’re not trying to swindle people. You’re simply showing them all the bells and whistles of what they’re getting in a more tangible way.
This is especially important in the digital space! Without a storefront or physical products to hold, people are relying on your sales page to make an educated decision.
Harnessing Visual Cues
Our brains use more visual clues than logic when we take in and assess information. This means we can use these tendencies to emphasize our point on a sales page. (When you’re done here, test out some of these quirks by checking this article out.)
Make a price to stand out as visually bigger by adding decimal and zeros to the end of your formatting. A good place to use this is on content and bonus material values.
Make your overall price point seem less cumbersome and intimidating by formatting the price as a whole number.
As a corporate-land magazine editor who relied on the AP Style guide as a formatting bible, the thought of using different formats for pricing on a singular page initially horrified me. I promise it is going to be okay.
You can take this effect even further by varying your font weights as well.
For example, a limited-time discount would display the regular pricing in a larger, bolder type than the discounted price.
Remember, none of these tactics will be the silver bullet to making fast cash (in fact, I’m fairly certain that silver bullets are about as fictional as werewolves), but they are tried and true ways that expert marketers and conversion-savvy designers use to help increase conversion rates on sales pages.