You’ve probably experienced it before…
You create a product. You prepare to launch it. And then…you encounter the pricing decision. Hmm. It’s tougher than it seemed, right?
Turns out, those questions DO matter. They matter a lot.
According to McKinsey executives, pricing has the highest impact on profitability:
“The fastest way for a company to realize its maximum profit is to get its pricing right...A 1% improvement in price, assuming no loss of volume, increases operating profit by 11.1%.” (Marn & Rosiello, pp. 84)
If pricing is so important, what can you do? How do you figure out the optimal price?
Well, you can use conjoint analysis. Ever look into it? It’s the cream-of-the-crop of pricing optimization. As such, any reputable conjoint study is at least $10,000. Pretty steep.
Luckily, there’s an easier way. The answer can be found in psychology and numerical cognition.
At the end of the day, pricing is merely a perception. Nothing more. Nothing less.
Thanks to certain mechanisms of our brain and behavior, you can change people’s perception of your price. Essentially, you can trick their brain into perceiving your price to be lower.
In this 1-hour course, I explain the most powerful principles to make your price seem lower.
Originally, I compiled my findings into this pricing article. But over time, I kept finding new principles, which sparked this course. This course explains the important takeaways from my original article, as well as new information that I've found.
Moving forward, I'll keep adding information to this course (instead of the article). Once you become a student, you'll be locked into that information forever.