In order to attract customers’ attention, sellers will inevitably use a few tricks when setting prices. Not only can it attract customers’ attention, but it can also increase product conversion rates. Next, we will introduce some tips commonly used when pricing.
1. It would be better to earn less than carry over
When we shop on major e-commerce platforms, we can find that merchants are used to setting prices at the “9” position, such as 79.99 Yuan, 89.99 Yuan, 99.99 Yuan, etc. Some people must be thinking, wouldn’t it be more convenient to sell it for 100 yuan? Why is it 99.99 yuan?
This actually involves consumer psychology. When customers buy a product priced at 99.99 yuan, they will feel that this thing is less than 100 yuan. If the price is 100 yuan, customers will not feel this way, and they will feel this thing in their hearts. Probably around 100 yuan.
The psychological impact of “less than 100 yuan” and “about 100 yuan” on customers is very different. Under the same circumstances, customers will definitely choose to buy products with a psychological price of less than 100 yuan. Because the psychological price of some customers is around 90 yuan, then 99.99 yuan is more in line with their psychological expectations. And 100 yuan, which is only 0.01 yuan more, will make him feel that it exceeds his psychological expectations.
So when setting prices, sellers must not only consider the various pricing factors we mentioned before, but also take into account the psychological feelings of buyers.
2. Differentiated pricing
When pricing, you can refer to products with similar functions on the market and conduct differentiated pricing with them, that is, let customers feel that our products have all the functions. The price is cheap. Such a pricing method can attract a group of customers to click. Of course, a product with a low price may have fewer dispensable functions than some high-priced products, but it does not affect the use effect. At the same time, products with the same functions can be placed in the variants for customers to choose from.
Of course, this is comparing with others, and you can also use self-comparison to encourage customers to place orders. When making variations, you can place multiple levels of products at the same time and set high, medium, and low prices. When customers make comparisons, those low-priced products are naturally more cost-effective. Of course, you must also clearly state why your high-priced products are of high value. Otherwise, wouldn’t it mean that Shuiyuan can only sell low-priced products?