Yes, Charm Pricing Still Works…

Charm Pricing is a valuable pricing and monetization tool that is massively underused.

Here are 3 reasons why it works:

1/ Your customer is not always going to act rationally. They're humans, not economic models!

2/ Time-pressured consumers don't remember the entire price, just the first digit [the left-hand digit effect]

3/ Even 1 penny change is better than none

There's a more detailed breakdown of the pricing signal theory here.

…The graphic above shows a few simple tactics to boost your revenue.

Let’s breakdown 3 simple tactical changes you can make to your pricing today:
a] Use 99’s. 99’s still convert better than whole numbers

b] Reduce Font Size. Reduced price font size converts better than large font

c] Syllable Reduction: Syllable reduction: One-thousand four hundred and ninety-nine (10 syllables) vs  Fourteen ninety-nine (5 syllables)

Super simple, actionable pricing hacks that apply to e-commerce businesses all over the internet.

That's all folks.

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Thanks to Monetization University for sponsoring. I rely on them to check my research.

Monetization & Out — Gary