Jedi Mind Tricks in Business.....#67
- Adrian Dionisio - business737 owner
- May 23, 2022
- 2 min read
Updated: Mar 18, 2024
The biggest and best businesses are experts in manipulating our psychology. Here are 9 psychological tips that get people to buy more. Examples come from huge companies such as Apple and Rolex. Thanks to Chris Hladczuk for input for this article.
1) Do not use Commas
Commas make you feel like it's more expensive. Why? It breaks the price into multiple parts. And multiple parts make it feel bigger. Here's Apple doing it:
2. Stand out by ending in whole numbers
Why does $3.99 feel cheaper than $4? £9.99 feels cheaper than £10, why?
Our brain translates numbers so quickly that a smaller first digit makes the price seem lower.
The problem is 60% of all products end in 99. So luxury goods end in whole numbers to stand out.
3) Make it Small
A small number feels more affordable than a big one.
So businesses break it down to the daily cost to make it seem cheap.
$3.76 per meal! Or "Only $3.50 per day or as much as your Starbucks cup of coffee."
4) Contrast for Clarity
A visual difference between sale and original price is huge. If the sale price is bold and red where the higher price is small and grey, you are drawn to the deal. And feel like you are getting more value.
5) Urgency
So you may want to buy something, but why now?
The formula:
Scarcity + Urgency = Buy now
You see this a lot with events: • Hotel rooms • Conferences • Airline tickets
Keep in mind, it is important not to lie because this will ruin your reputation.
6) Drop the Pound / Dollar Sign
Many high end restaurants don't have pound / dollar signs on the menu.
Why? Because the pound /dollar signs make you think of money and why you shouldn't be spending it. This is not what a restaurant wants. No business wants this.
7) Put basics at all the way at the Back
Ever wonder why Whole Foods puts the eggs in the back? Because they want you walking through the entire store to spend your $8. And the hope is that you see 4 other things to buy... And end up spending $50.
8) Decoy Pricing
Every time you show up to the movie theatre, you probably see the below pricing for popcorn.
The default reaction is;
"Wait it's only 50 cents more for the large?" Buy.
What you don't realise is the medium size is a decoy. And justifies inflated pricing for the large.
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