Your Pricing Is Holding You Back?!? Use These AMAZING Tips To Grow Your Business! Pennies Per Day???
Description
In this episode, host Jay Schwedelson discusses effective pricing strategies for YOUR small business. He shares insights and research-backed tips on how you can better frame discounts, offering multiple pricing tiers, and using the "pennies per day" approach to increase conversions and sales.
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Best Moments:
(01:45 ) Displaying discounts by crossing out the original price can increase conversions by 200%
(02:42 ) Offering three pricing options (high, medium, and low) can boost conversions by over 100%, with customers often choosing the middle option
(04:18 ) Framing prices as "pennies per day" instead of a lump sum can increase conversion rates by over 25%
(06:38 ) Discounts of 15-25% have a 30% higher click-through rate than offers with discounts over 50%, due to perceived value
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