17 – Increase Your Course Sales using Price Deception

This method comes from Dan Ariely (author of Predictably Irrational).

I have tested it and it works more often than not.


​Let’s say you have two pricing options:

  • Course ($299)
  • Course with coaching call ($399)

On average:

  • 80% of customers will choose option 1
  • 20% of customers will choose option 2

The average order size – $319

You are leaving a lot of money on the table.

Here’s what you want instead

  • Course ($299)
  • Decoy Pricing (Course $399)
  • Course with coaching call ($399)

The middle one needs to make the third one feel like a no-brainer

Look at this example from the Economist

2 ways I like to do this

1. Insert a new weird option in middle

  • Course – Lifetime access ($299)
  • Course – Lifetime access with bonus ($349)
  • Course – Lifetime acesss with bonus and coaching ($399)

2. Insert a new bad option as the first and make the pricing of middle weird.

  • Course – 6 month access  ($299)
  • Course – Lifetime access ($349)
  • Course – Lifetime acesss with bonus and coaching ($399)

Now here’s the change I’ve seen happen

  • 20% of customers will choose option 1
  • 0% of customers will choose option 2
  • 80% of customers will choose option 3

Bringing the average order size to $379

18.8% increase


Until next week

Tom

Whenever you’re ready and want my help validating or scaling your course:

wemarketonlinecourses.com

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