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Copywriting & Sales Persuasion
A simple pricing trick to double your digital product sales
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<blockquote data-quote="Sigrid Lockman" data-source="post: 28613" data-attributes="member: 10905"><p>If you are selling an e-book, a course, or a service, the <strong><em>"Decoy Effect"</em></strong> can be your best bet to instantly increase your average order value.</p><p></p><p>Here is how it works:</p><p></p><p>Imagine you offer two options:</p><p></p><ul> <li data-xf-list-type="ul"><strong><strong>Option A (Basic): $50</strong></strong></li> <li data-xf-list-type="ul"><strong><strong>Option B (Premium): $100 </strong><br /> <ul> <li data-xf-list-type="ul">Most people will choose the $50 option because it feels safer.</li> </ul></strong></li> </ul><p>Now, introduce a <strong>Decoy</strong> (Option C) that makes the Premium option look like a steal:</p><p></p><p></p><ul> <li data-xf-list-type="ul">Option A (E-book only): $50</li> <li data-xf-list-type="ul">Option B (Video Course only): $95</li> <li data-xf-list-type="ul">Option C (E-book + Video Course): $100</li> </ul><p>Suddenly, Option B looks completely useless, and Option C looks like an absolute no-brainer because it's "only $5 more." By adding a terrible middle option that nobody wants, you subconsciously force the buyer to choose your most expensive tier.</p><p></p><p>Has anyone experimented with this on their landing pages? What kind of conversion lifts did you see?</p></blockquote><p></p>
[QUOTE="Sigrid Lockman, post: 28613, member: 10905"] If you are selling an e-book, a course, or a service, the [B][I]"Decoy Effect"[/I][/B] can be your best bet to instantly increase your average order value. Here is how it works: Imagine you offer two options: [LIST] [*][B][B]Option A (Basic): $50[/B][/B] [*][B][B]Option B (Premium): $100 [/B] [LIST] [*]Most people will choose the $50 option because it feels safer. [/LIST][/B] [/LIST] Now, introduce a [B]Decoy[/B] (Option C) that makes the Premium option look like a steal: [LIST] [*]Option A (E-book only): $50 [*]Option B (Video Course only): $95 [*]Option C (E-book + Video Course): $100 [/LIST] Suddenly, Option B looks completely useless, and Option C looks like an absolute no-brainer because it's "only $5 more." By adding a terrible middle option that nobody wants, you subconsciously force the buyer to choose your most expensive tier. Has anyone experimented with this on their landing pages? What kind of conversion lifts did you see? [/QUOTE]
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