The Power of Comparison

[brycer9]

I believe that one of the biggest ways to influence your customers to buy your product/service (and at a higher price) is to unleash the power of comparison unconsciously in your customer's mind. Comparison in the marketplace is something that has been studied many times before and results are often outstanding. This video perfectly explains what I'm trying to say

[video=youtube;xOhb4LwAaJk]http://www.youtube.com/watch?v=xOhb4LwAaJk&feature=player_embedded[/video]

This is especially useful for people with subscription businesses, pay-to-play, etc. and could also be used with a series of related products.

EDIT: Thought I'd add.. Comparison can be a bad thing when you're actively telling the customer to compare values. You should let them decide for themselves with your pricing strategy

Here are some more psychological studies about pricing: http://blog.kissmetrics.com/5-psychological-studies/

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Eskil]

Thanks for sharing this. Good stuff.

 

[ricktx]

This is especially useful for people with subscription businesses, pay-to-play, etc. and could also be used with a series of related products.

EDIT: Thought I'd add.. Comparison can be a bad thing when you're actively telling the customer to compare values. You should let them decide for themselves with your pricing strategy

Here are some more psychological studies about pricing: 5 Psychological Studies on Pricing That You Absolutely MUST Read

Thank you. Very interesting information.