The Psychology Of Pricing: Part 5 – RD268

<p class="p1">This is week five of my Psychology of Pricing series. Where I share research-proven strategies to help the prices you display convert into sales. Some of these pricing tactics work great with your design business, and many of them are perfect for helping your clients get more sales.</p> <p class="p1">So if you haven’t read or listened to the <a href= "https://resourcefuldesigner.com/episode264">previous parts in this series</a>, I suggest you do so before continuing with this one.</p> <p class="p1">The tactics I’m sharing here are taken from a very in-depth article called The Psychology of Pricing by Nick Kolenda. <a href="https://nickkolenda.com" target="_blank" rel= "noopener">You can find it on his website</a>. Let’s get on with the list.</p> <h2 class="p1">Tactic 35: Place Low Numerals After Right-Facing Digits.</h2> <p class="p1">As a designer, you know how to create flow in a design. For example, If a person is looking to the right, you want to put their photo on the left of a layout. If they’re facing the left, you want them on the right of the layout. This creates flow in the direction you want people to focus on.</p> <p class="p1">There are many ways to create flow in a layout besides which direction a person is facing. One of the ways you can do it is with numbers.</p> <p class="p1">A 2007 study determined that certain digits face particular directions.</p> <ul> <li class="p1"><strong>2,3,4,7,9 face the left.</strong></li> <li class="p1"><strong>1,8,0 face centre.</strong></li> <li class="p1"><strong>5,6 face right.</strong></li> </ul> <p class="p1">Rightward digits 5 & 6 push attention towards the right. When used in a price, they push attention towards the digits that follow them. Since customers tend to round numbers up or down, you’ll want to place a lower number next to a right-facing digit causing customers to round down the price.</p> <p class="p1">Conversely, leftward digits, 2,3,4,7 & 9 push the attention towards the left. This means that customers may ignore a large number placed