📩 Newsletter 4: The Psychology of Pricing – How to Make Customers Feel Like They’re Getting a Steal Subject: Is Your Pricing Driving Customers Away? Here’s How to Fix It Dear Business Titans, Have you ever wondered why some businesses charge premium prices and still attract floods of customers—while others struggle to sell even at a discount? The secret isn’t in the product. It’s in the psychology of pricing. Customers don’t judge price logically. They make emotional decisions based on perceived value. If you don’t position your pricing the right way, people will assume you’re either too expensive or too cheap to be worth it. Today, we’re breaking down the science of pricing—so you can sell more, at higher prices. 🚀 The 3 Pricing Mistakes That Cost You Sales 1. Pricing Without Context (The Power of Comparison) Ever notice how restaurants place an expensive steak next to a mid-range option? That’s no accident. When people compare two prices, the cheaper option feels like a deal. 🔴 Mistake: Listing one price with no comparison. 🟢 Fix: Always give three pricing options—one high, one low, and one “just right.” ✅ Your Action Step: If you only have one price point, add a premium version above it to create contrast. 2. Selling Features Instead of Outcomes People don’t buy things. They buy what those things do for them. 🔴 Weak Pricing Pitch: “Our service includes 5 sessions.” 🟢 Strong Pricing Pitch: “In just 5 sessions, you’ll double your sales and never struggle to close deals again.” ✅ Your Action Step: Rewrite your pricing offer to focus on the transformation, not just the features. 3. No Urgency (Why Customers Delay Buying) Even if customers love your offer, they won’t buy now unless there’s a reason to act. ✔️ Limited-Time Bonuses: “Sign up today and get a free coaching session.” ✔️ Scarcity: “Only 5 spots left at this price.” ✔️ Price Increase: “This deal expires in 48 hours.” ✅ Your Action Step: Add one urgency trigger to your pricing today. 💡 The Winning Formula: Price Should Feel Lower Than Value People don’t ask, “Is this expensive?” They ask, “Is this worth it?” Your goal: Make your price feel like a steal. Example: 🔹 $500 course that helps clients make $5,000 = No-brainer 🔹 $50 software that saves users 10 hours a week = Bargain ✅ Your Challenge: Does your price feel like a bargain based on the results you deliver? If not, stack more value until it does. Final Thought: Customers Don’t Buy Cheap—They Buy Value 💡 Your price isn’t the problem. Your positioning is. Show customers why your offer is worth more than the cost, and they’ll gladly pay for it. Until next time, Your Global Business Titans Team 📩 Loved this insight? Share it with a fellow entrepreneur!