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The price is right
Wed, Apr 21, 2021
An old man sold watermelons with a price list of 1 for $3 and 3 for $10.
Many people bought 3 watermelons one by one for a total price of $9 and walked away, whispering about the dollar they just saved.
A young customer told him, “Hey old man, do you realize that I just bought 3 watermelons for $9 instead of $10? Maybe business isn’t your thing!”
The old man smiled and mumbled to himself, “People are funny. They come to buy 1 watermelon but end up buying 3 and yet keep trying to teach me how to do business.”
When you watch 10 movies a month on Netflix and feel good that you’ve got a great bargain on that SaaS pricing, think again!
Pricing is indeed one of the most underutilized marketing weapons!
If priced right, customers will walk away spending more than they planned and consume more than they intended while feeling happier than they should.
People may not want to pay $5 shipping on a $4.99 product but will gladly buy it for $9.99 if it comes with free shipping!
Get the price right and you’ll get the right number of customers.
Takeaway
Got any interesting pricing anecdotes to tell? Click here to share.
Find the right price for an irresistible offer, which, by the way, isn’t necessarily the lower price.
