The March 5, 2015, episode of The C.A.P. Podcast featured Meredith Eisenberg, co-host of the Paycheck to Passion podcast and the co-founder of the Passionate Entrepreneurs Network. In this second video excerpt of the episode, she shares a story from her podcast in which a guest increased sales of his hand-made furniture by simple adding a zero to the end of the price..
The psychology of pricing is often counter intuitive. Many times increasing your prices will increase sales because what you are selling will have increased perceived value. The stories shared in this excerpt illustrate this point.
In addition, clients who pay more are often easier to work with because they have more skin in the game and therefore are going to make an effort to make sure they gain value from their purchase.
To listen to the complete podcast, click here.