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Pricing Psychology: The Choice between Yes and Yes | Psychotactics

We gave customers the choice between a yes and um..NO!

Almost within 24 hours, our sales started going south for no reason at all. We ignored this sickening slack for about a week. Then we looked back at what was working. And we put back the choice between yes and yes.

The customer was back in choice-ville and the sales soared.

But here’s the curious part

Among the two packages, one has a much higher price. Yet over 97.5% of customers, when given the choice between the two packages, chose the higher priced package.

The customer is no dumbo

No siree. The customer knows exactly what she wants. And when given the choice between yes and yes, she takes a decision to buy that which creates most value for her. Of course, if there’s an enticement to buy, as was in this case, then there’s a far greater likelihood of her buying the more expensive product.

The customer is no dumbo…but I sure am

Think about it. If your revenue shot up. If customers were buying higher-priced products what would you logically do? Wouldn’t you take the same concept and use it everywhere you could?

You’d think a smart person would do that, wouldn’t you? (Which is why I qualified myself at the start of this paragraph). But no! As we speak, there are still a few products on our site that donnot have a choice of YES and YES.

Don’t stop at one point. Take the concept through its paces

If you’re in consulting, look at the choice between yes and yes. Are you giving the customer a choice between package A and package B. Or do you offer just one package? If you’re selling products, the concept of yes and yes choice stays put.

And once you’ve found that the concept works, puh-lease don’t do the dumbo bit. Audit every possible thing you sell. And put in a yes and yes factor. Not only will this bring you higher quantity of sales, but also an a much better price on every product/consulting assignment you do.

Read complete article here:

Pricing Psychology: The Choice between Yes and Yes.

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