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Anchoring in the wild
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After yesterday's message, there were replies on how much was this purse. The range went between 90 and 290. When I saw the purse I guessed 80-ish. The actual price: 436 Now, this is what happened: we got anchored. All of this unconsciously. Here's how (I think) this went. Having that poster next to it at 15 euros made my brain relate both things.
If that's 15 euros, a 10X increase for this should be acceptable as a maximum.
They're next to each other. They MUST be in kind of the same ballpark.
There's no way the purse is over 400. It doesn't even cross my mind.
The thing is, it played against the seller.
The jump was SO high, that it made me not even consider it.
You start questioning everything about it. Does it come with 200 euros in cash inside?
When your customers start questioning your prices, you're in disadvantage. Because they'll feel the urge to have you justify the prices and everything else. In your business: Sticker-shock them. If you have a wide range of offerings, give them first the higher price. It'll make them feel everything else is not THAT expensive. |
Rod Aparicio
Get one tip, question, or belief-challenge that just might change the way you market, to help your customers buy. A *daily* email for b2b founders on improving your business —without the bullshit.
Helping. Helping the right ones who can use your help. Helping the right ones who can pay for your help. Helping. Now, not being aggressive doesn't mean not to be firm. You can help and say No. You can help and choose. You can help and charge "a lot". And helping is about guiding them in the right direction. Especially if it's not you.
Everyone tells you to be aggressive. That you need to crush your competition. That you need to win. You don't.
It makes it easier in our heads to take things off to reduce the price and get to a point that's acceptable to us, than to keep adding things as we see the price going up. Check this story by Blair Enns: Anchor High.