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How to Use Price Anchoring in Your Online Business
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Is your product pricing to blame for low conversion rates?
If so, it's possible you could see improvements in your sales, customer happiness AND brand appreciation just by making an informed pricing change.
To do that, watch this video to learn what price anchoring is and how you can use it to boost your online business performance.
Time Stamps:
00:00 - Intro
00:28 - What is Price Anchoring?
01:07 - Factor #1: Product Categories
01:22 - Example: Pricing an Ebook
02:45 - Product Categorization
03:04 - Factor #2: Distribution Channels
03:35 - Example: Ordering A Website
04:20 - Factor #3: Surrounding Prices
04:38 - Example: Pricing an Online Course
04:54 - Let's Recap
05:18 - Are Your Prices Right?
Have you tried using any of these price anchoring techniques to boost your product sales?
Let us know by leaving a comment below!
If so, it's possible you could see improvements in your sales, customer happiness AND brand appreciation just by making an informed pricing change.
To do that, watch this video to learn what price anchoring is and how you can use it to boost your online business performance.
Time Stamps:
00:00 - Intro
00:28 - What is Price Anchoring?
01:07 - Factor #1: Product Categories
01:22 - Example: Pricing an Ebook
02:45 - Product Categorization
03:04 - Factor #2: Distribution Channels
03:35 - Example: Ordering A Website
04:20 - Factor #3: Surrounding Prices
04:38 - Example: Pricing an Online Course
04:54 - Let's Recap
05:18 - Are Your Prices Right?
Have you tried using any of these price anchoring techniques to boost your product sales?
Let us know by leaving a comment below!
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