3 pricing tactics you can implement today

size and colour matters

Author

Wilson Komala
02 Feb • Read time: 5 minutes

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TACTICS
3 psychology of pricing

1/ Font size matters

💸 Cost: None
💪🏻 Effort: Low
🎩 Stage: Conversion

Here’s the breakdown:

  • Bigger fonts = more expensive. Smaller fonts = more affordable.

  • Make your premium product prices bold and slightly larger.

  • For discounted items, use a smaller, lighter font.

Action Steps:

  1. On your website or in marketing materials, tweak the font sizes of your product prices according to their positions in your pricing tiers.

  2. A/B tests these changes to see what works best for your audience.

2/ Lose the dollar sign

💸 Cost: None
💪🏻 Effort: Low
🎩 Stage: Conversion

Here’s the breakdown:

  • Dollar signs trigger the "pain of paying."

  • Removing them can make prices seem less daunting.

Action Steps:

  1. If you're in the restaurant or e-commerce business, experiment with listing your prices as plain numbers. Instead of $10.99, try $10.99.

  2. Monitor your sales to see if this small tweak makes a difference.

3/ Color-code for discount

💸 Cost: None
💪🏻 Effort: Low
🎩 Stage: Conversion

Colors can greatly impact how we perceive prices. Red, for instance, is seen as a signal for bargains and sales.

Here’s the breakdown:

  • Red is universally associated with discounts and bargains.

  • Highlight your sale prices in red to capitalize on this subconscious association.

Action Steps:

  1. Edit your price tags online and offline, ensuring that sale items are marked in red.

  2. For digital products, use red color codes in your discount emails and banners.

(Bonus) Simplify the math

💸 Cost: None
💪🏻 Effort: Low
🎩 Stage: Conversion

Customer's brains love simplicity. Did you know that while buy 1 get 1 free and 50% off two items are the same deal, people prefer the former because it feels like they're getting something for free?

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