Tag Archives: How To Set Prices
So you’re starting a blog, a splash page, landing page, or any website and trying to sell products to your viewers. Humans have a natural tendency to group prices based on a few characteristics which will be detailed later. Internet marketing has skyrocketed and more people are cashing in on this amazing industry with blogging for money.
The growth will continue far into our lifetimes so the earlier you can take advantage the better. Internet marketing is a unique situation because every single website’s promotional tools are different. There is not a single website that is identical to anything else out there. This gives you the freedom to use your mind and be creative when trying to market online through a blog or other website.
How To Set Prices When Blogging For Money
Rule Of Thumb: Price your products just below one of the common mental barrier groups of prices. People often think if spending money in terms of digits, for example $9.00 has one digit to the left of the decimal. Perhaps the cost of an item is $19.00, there is two digits to the left of the decimal. Human’s brain are wired to think in a way that groups prices together. Specifically if a person were to see a price tag of $9 and $5, they will group these prices as comparable in their mind.
How can you use this science to your advantage? If you want to maximize your profits then sell an item within the same “group of prices” so the customer believes they are still buying the item at an affordable price. Another example would be an item priced at $15.00. The customer would likely still buy that item if it was priced at $19 because they are still within the same group of