How to set the right price for your online products and services

1. Perfect Pricing The psychology of online prices

2. The right price How much is too much to charge? How much makes the item seem cheap? What is the maximum price people will pay?

3. Which is cheapest? $197 $195 $199

4. Which is the best price? $166 $197 $122

5. Price is everything

6. Odds and evens Odd numbers feel smaller than even numbers 9 seems less than 8 when we look at it quickly we tend to round up even numbers but round down odd ones, adding to the “low” feeling

7. Long and short Vowel sounds influence size Long vowels as in “nine” sound big Short vowels as in “six” sound small Consonants influence size Some consonants seem small – x, s, f Other consonants seem bigger – b, c, d

8. Make them sound right The sounds of your prices need a combination of short vowels and specific consonants Six (6) and Seven (7) sound better than Five (5) or (9) The numbers 1, 6, 7 are good price numbers

9. Contact DetailsGraham Jones can help you use psychological tactics to improve your website and your online presence graham@grahamjones.co.uk Tel: +44 118 336 9710 www.grahamjones.co.uk