Thread by @schm7dt

This little pricing trick uses comparison to make people think your products are worth way more than they actually are (and by default make you more sales)

[THREAD]

Full article: bit.ly/2BxkRCr

Came across a great example of this on a buy page I found through an ad on Instagram

The product itself is probably absolute shit (stock picking newsletter), but I almost guarantee it's selling like hell bc of some clever copy

So here's the buy page

There's three options:

* Premium ($79): Digital + print + 3 bonuses
* Deluxe ($129): Digital + print
* Standard ($47): Digital only

You might be wondering why the Deluxe subscription costs more than the Premium when it actually offers less

This is because...

The Deluxe subscription is a DECOY

No one buys it because the Premium subscription costs much LESS, but offers MORE (the 3 bonuses)

So Average Joe sees the $79/month price tag and thinks that's way too expensive

But then he sees the decoy at $129

Since we as humans determine a product's value through comparison (not objective evaluation), suddenly Joe thinks the $79 subscription is a steal!

Even though $79/month is a hefty price to pay for a monthly newsletter, Joe totally forgets that in context of the decoy

Because to evaluate its value, he only has the other subscription options to compare it to

Without the decoy, Joe probably wouldn't have bought ANY of the subscriptions (because he would've stopped at "$79 is a lot of $$ for a newsletter")

Or he would've bought the standard subscription for a measly $47

This newsletter is a likely a shit product, but because of this clever pricing trick, it sells much more than it should

But this trick isn't limited to shit products. You can implement this in your honest business as well!

All you have to do is take a product you already sell, create a "premium" version of it, hike the price way up (even if it doesn't cost you a penny more to produce), and sell it right along side the original product

(The third, less expensive version is optional)

This will make potential customers think your original product is worth much more than it actually is

Which by default will make it sell more

This is actually something I picked up from the book Predictably Irrational by @danariely

If you're into marketing, copywriting, persuasion (or sell a product you want to sell MORE of) would highly recommend picking it up

If you feel so inclined, I'd heartily appreciate it if you did so via my affiliate link here: amzn.to/2zE0RQq

EDIT: the newsletter is actually charged per year, not per month