We recently had a call with a prospect for Success Groups and she fed back how she was so pleased to see our rounded prices. No 99 or 97 nonsense. She commented that to her, it portrayed us as authentic and honest.
We used to play the 97 game for a while. We were told, as I’m sure you’ve also heard, that 97 is the new 99 and how that pricing tactic plays out psychologically.
The thinking is that if you keep your pricing under the next big number, say £297 vs £300, it’s less confronting to your customers and you’re more likely to make the sale. The same for £997 vs £1000, or £1997 vs £2000.
I can see that when pricing a low ticket item, such as my book, there might be an argument for its £7.95 price tag vs £8.00. I went with .95p because I stuck with the familiar .95p or .99p pricing convention for books.
But when you’re talking proper money, doesn’t it become a little superfluous? Especially now everyone knows the trick.
Once you know the rabbit is always in a cut-out in the table below the magician’s hat, the act falls apart, doesn’t it?
That’s why we took the decision many years ago to throw that nonsense away. I’ve never been one for playing games.
What do you think?
Was my prospective client right? Do you think the game of 99 and 97, etc is up?
How do you price your products or services?
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