OnDemand WTP Pricing Research

Psychological Sales Techniques That Will Help You Sell More | MarkinBlog

The massive majority of marketers aren’t psychologists.

But many popular marketers regularly employ various psychological sales techniques when attracting customers. Clever marketers use psychology to attract as well as engage clients, and force them to buy.

I think you’ll all agree with me when I say:

It’s getting more and more difficult to convert cold website visitors into leads and even more into paying customers.

Well, there’s no surprise considering that currently there are over 650,000 revenue generating ($1k annually) online stores in the world.

The competition is just massive!

But wait there’s more:

According to Internet Retailer e-commerce sales should grow from $1.6 trillion in 2015 to $3.5 trillion by 2019, meanwhile, SaaS revenue should grow from $150 in 2015 to $201 in 2019.


Magic Tricks With Number 9

Head over to practically any store around and you’ll see prices that end in “9” everywhere.

Image source: Flickr.com
Sometimes it gets really confusing.

Doesn’t it?

But that’s probably one of the most popular tactics that marketers are using to trick the human brain and make the product look “cheaper”.

Let’s investigate how this little trick is affecting consumer’s buying behavior.

The University of Chicago decided to carry out an experiment with price variations.

In their experiment, a mail order catalog was printed in 3 different versions and sent to an identically number of people. A standard woman’s clothing item was tested at the prices of $34, $39, and $44.


To the researchers surprise, in all tests, the item with number 9 at their ending price got the most sales.

Even when the items were priced at $39, it got more sales than the same item priced at $34.

But that’s not the only study with 9 price ending.

William Poundstone also analyzed 8 different studies in his book “Priceless: The Myth of Fair Value (and How to Take Advantage of It)” on the use of charm prices ($49, $79, $1.49 and so on).

Read complete article here:

Psychological Sales Techniques That Will Help You Sell More.

Post a Comment

WP-SpamFree by Pole Position Marketing