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Mark Wickersham (UK): The Power of Price Psychology How is Mark’s view applicable to IM?
It you sell high-ticket items, such as
courses, over $1,000, you can keep the price hidden,
invite potential buyers to a phone
interview, learn about their
circumstances and set your price to the maximum they can bear. A limited number of buyers
will not find out that they have been charged more (or less) than others. I have been through 3 of such
interviews. I am happy with the courses chosen and the price
I paid, though I do not know whether
I could have negotiated a better price. Also, if you buy a product and pay
monthly, the premium you pay over the one-off price is not published, I never take the monthly price, due to
the premium. Over to Mark Wickersham (UK):
I’d like to share something you must
never, ever do: please, please, please don’t reveal your headline price. I can assure you it’s an incredibly powerful concept that will get you much, much higher prices with much less price resistance too. So, what is your headline price?
Very simply, your headline price is the
total price. I can probably best explain the concept by telling you about an experiment done some years ago by Ryan Deis, one of the world’s leading Internet marketers. Ryan decided to sell one of his
products at $197 and found he sold 340, which generated him just over $66,000. Not a bad result, but it’s what
happened next that’s really interesting. He decided to find out
what would happen if, rather than $197, he asked for two payments of $97. (It’s not quite the same price but, at $194, I think you’ll agree it’s pretty close.) Do the math
What he found was staggering. His sales
increased from 340 to 977, and his total revenue from $66,000 to nearly $190,000. I think you’ll agree that that’s already a staggering result, but then something even more amazing took place. Ryan thought, “That’s interesting. What if I offer the same product, but rather than two payments of 97, I make it three?” to be continued
The Power of Price Psychology
Check it out NOW! In case you missed this: (More of Mark!)
Better pricing = higher profits
If you have a service business, you can
earn much more from this series. Also, Mark runs a programme called
Price Consulting, and he teaches
accountants/bookkeepers how to help their customers with their pricing. Thank you for the positive response to
posts on this topic and the action taken. Please tell your friends!
Those links again:
Effective Pricing for Accountants (book)
Monthly Mentoring
The complete guide to menu pricing – NEW!
(video training programme) How to build a successful bookkeeping
business (book) How to build a successful bookkeeping
business (video training programme) The Value Pricing System
Grab them NOW and claim the true income
that you earn!
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