Using Psychological Pricing & Pricing Tactics To Drive More Sales

In Episode 21, we discuss some of the best pricing psychology tactics & strategies that will help increase your online sales.

Timestamps:
1:30 Create a sense of urgency to purchase. Tip: Use a countdown timer that shows how long the sale will last.
3:47 Increase your AOV by creating bundles. Showcase the value of buying your products in a bundle package by providing a higher discount vs if they just bought 1 of your products.
5:00 Make use of holiday sales & limited time offers
6:50 What is Loss Aversion?
7:44 Plan out a sales schedule for your whole year
10:02 Use Anchor Pricing to showcase what your discount is on each item.
11:30 How Shopify compares the MSRP vs the sale price.
12:18 Increase Conversions By Showing The Customer The Total $$ Saved In Their Cart During A Sale
14:45 The Power of 9's. $19.99 / $99.99
17:05 Color Psychology in pricing. The purpose behind seeing usually red tags when businesses are promoting a sale.

ABOUT MATT SKOPAK:

An adventure and fitness addict with a passion for entrepreneurship and numbers. Lead Investor in Sweetberry Bowls and CFO of Sugar & Kush CBD.  Rutgers MBA 2020 in Entrepreneurship & Accounting

ABOUT SEAN AZARI:

In 2015, Sean launched a creative ad agency called Breakthrough Social specializing in content creation & distribution, marketing campaigns, & paid media that helped brands build awareness and drive sales. Prior to starting his agency, Sean worked in finance for 4 years as an Investment Banking Analyst at Credit Suisse & studied Mathematics & Statistics at Rutgers University.

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