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Discount: An intuitive way of anchoring
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In many industries, the way to go is: I show them a "high" price (that I know will never go for), and as soon as they read the proposal, I'm giving them 30% off. It's a no-brainer! This way, they'll go to their boss and say "Boss, I got us a GOOD deal". You want them to say that. [And they still won't buy (but this one is for another email).] What was described here is an intuitive way of anchoring. To make the offer higher, and with the discount (by default), the "deal" will appear nicer for the customer. Makes sense. Feels right. It has logic. Until it doesn't. A few reasons why:
It all drives to the bottom, to be exchanged easily, and to comply to whatever ridiculous wants from the customer. But there are ways to do different, and have you and your customer delighted. |
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.
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In any negotiation, somebody is anchoring (and at least trying to anchor), whether as a buyer or as a seller. Consciously or unconsciously. Anchoring.- The cognitive bias where you stick to the first piece of information received. Said piece of info will serve as an "anchor" to the next one. Money talking, how you get a "better" or "worse" deal. As a buyer, you're (usually) trying to go on the most economically efficient way. You want to get a better deal and spend the most reasonable to what...