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The 3 Types of Buyers, and How to Optimize for Each One

[Guest post by Jeremy Smith.]

I absolutely love buyer psychology and neuroeconomics. Want to know why?

● Because it’s like a secret weapon that produces torrents of conversions (and money).
● Because it’s the only real way to understand why and how buyers make purchases.
● Because it’s the proven route to successful marketing.
● Because it’s guaranteed to squash the competition. […]

By |July 30th, 2014|

Why Your Website Launch is DOA, Twitter Psychology, & More – Roger’s Picks

Here’s what we discovered this week, with my own new content below:
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By |July 25th, 2014|

A Super-Simple Way to Make Your Prices Seem Lower… With One Catch

Want to make your prices seem lower without actually changing them? Here's a research-based technique that will do exactly that, with one small catch... it doesn't work equally well for male and female customers!

By |July 22nd, 2014|

Is This Common Pricing Mistake Costing You Sales?

If you have an ecommerce site, how often do customers visit – often after a costly paid click – and end up leaving without buying? Are abandoned shopping carts all too common? Or, if your customers visit your retail store, how often do you see them compare several items, only to buy none of them and move on? If you stock similar items (and who doesn’t?), the problem could be your pricing. […]

By |April 4th, 2013|

Taking the Pain out of Sushi Pricing

The menu designer for an Austin restaurant, Roll On Sushi Diner, must be a Neuromarketing or Brainfluence reader. A while back, I identified sushi-style pricing as being the worst possible approach because each tiny bite is a separate pain point (see Painful Sushi and Other Pricing Blunders).
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By |February 13th, 2013|

What Pricing Strategy Beats Discounts?

If you want to sell more product by running a sale, which would make more sense: advertising “price cut 33%” or “50% more” product? Functionally, the two are the same level of discounting. Researchers at the University of Minnesota found, though, that a “50% bonus pack” sold 71% more than a “35% discount,” even though the latter is a slightly lower price per unit. […]

By |November 15th, 2012|

The Hidden Danger in Product Bundles

Does grouping products together into a single-price bundle increase the perception of value? Most of us would answer “yes,” but surprising new research shows there is at least one condition where such grouping can actually reduce the apparent value. In fact, the bundle may be seen as worth not just less than the sum of its parts, but less than the individual product! […]

By |July 10th, 2012|

An Easy Way to Make Your Prices Seem Lower

The way you display a price has a surprising effect on how consumers gauge the magnitude of the price. It's important to read the price aloud as a consumer might, as more syllables in the price make it seem higher.

By |July 2nd, 2012|

What’s A Return Policy Worth?

Ask catalog or Internet retailers what a return cost them, and they will likely be able to cite some very specific numbers reflecting shipping costs, processing labor, damaged packaging, and so on. But it turns out there’s a specific value that customers apply to returns, or, more accurately, the OPTION of returning a product. That value varies by the type of product, the product price, and other factors. […]

By |April 14th, 2011|

The Price of Everything by Eduardo Porter

Book Review – The Price of Everything: Solving the Mystery of Why We Pay What We Do by Eduardo Porter

Looking for more novel pricing strategies for business, I picked up a copy of The Price of Everything by Eduardo […]

By |January 14th, 2011|