3. Price anchoring

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3. Price anchoring

Have you ever bargained in Sarojini Nagar? (Well! that depends 😭) If shopkeeper A tries to sell you a T-shirt at ₹ 450 and the other shop is willing to sell the same T-shirt at ₹300; you are instantly compelled into buying the T-shirt immediately! (without even thinking what the original price of the T-shirt is)

Thanks to our brain! Empirical evidence has shown that every decision our mind makes is based on the first piece of information.

Let’s take a masterclass from the legendary Steve Jobs on price anchoring! 🎉

Our mind is so used to anchoring bias; that many popular sites (Mailchimp, Tinder, etc.) shows price decreasing from left to right.

Our minds naturally starts comparing everything with the first piece of information (price) we are shown!

Pro-tip: On your pricing page, draw special attention to your most expensive package, even if most people don’t buy it. Your top tier package becomes the visitor’s price “anchor”, making your other packages look more affordable in comparison.

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