Stefan Despotovski

08/30/2022, 2:47 PM
Daily Growth Tip: Simplify your pricing to increase sales In general, the more straightforward your pricing, the better your product will be perceived. Simplify both the price and how it is presented to increase sales. Even if the price is higher, people prefer simple prices. In fact, in one study, 65.9% of participants preferred a product with simple pricing over a cheaper product with more complex pricing. Consumers appear to perceive simpler prices as fairer and lower. So simplify your pricing as much as possible — at least as much as your competitors'. Consider removing pricing components in favor of flat-rate, all-inclusive pricing. However, even if you choose something like usage-based pricing, you can simplify in small ways. Try rounding your prices, doing the calculations so customers don't have to, being very clear about charges (no fine print), and so on.
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