You want to make money, right? That’s why you run a business. Whether you’re selling a product or a service—you’ll have to put a price on what you’re selling at some point.
It isn’t easy to price something. It’s where a lot of business owners get stuck and put an arbitrary number on their product that just barely turns a profit.
But did you know you can build a pricing strategy for your business that not only increases profits and also helps you sell more?
That’s why we wrote this post. We’ll lay the foundation for an effective pricing strategy by using psychological pricing tactics—your golden ticket to selling more.
What Is a Psychological Pricing Strategy?
Simply put, it’s a strategic way to price your products or services to influence people when making a buying decision.
It isn’t clear how psychological pricing came into common use, but we do know that the practice arose sometime during the late 19th century with newspaper pricing competition.
Read more HERE