Seven. There it sits quietly between six and eight. Totally underutilized by comparison to its friend nine.
And five…five gets lots of attention, too. One’s a pretty good number, but as Three Dog Night told us “One is the loneliest number” so we’ll leave it outside our discussion.
How often do you think of seven (or *7* as I really need to work with it). When you’re finished reading, 7 will become your new best friend.
7 catches our attention like no other number. Did you know that? 3 isn’t too shabby either. These numbers hold a key for you.
We’re talking about your pricing, folks. And the number 7 at the end of your price becomes a powerful, motivating number for your customers. More powerful than 9 or even the evil 5 and lazy 0.
You know what we do when we see a price ending in 9 or 5 or 0. We round it up. So $499 becomes $500. $495 becomes $500, and $500 is just a lazy way to show your price. It doesn’t look like you calculated it. It just looks like you grabbed a number out of the air.
Yet we don’t do that with 7 or its kissing-cousin 3. $197 is $197. $183 is $183. The mind does not round up. The number is the number. And we all know that $197 is $100 less expensive than $200. The mind, our psychology around our emotional reaction to numbers, plays into how your prices are perceived.
Here’s a little assignment for you: go watch QVC for awhile. Look at how they price. You’ll see lots of products ending in 7 and 3. Maybe not the “retail” price, but the price they offer it to us. And don’t you think QVC has done more than a little research into what gets us into action?
Consider your prices. It’s January and time for a little clean-up and reevaluation. Understand how your customers think and adjust your prices to speak to their minds, their psychology.
Put the power of 7 and 3 to work for you today.
Hey, it’s only money that’s waiting out there with your name on it. Go claim it.
Go forth and do great things,
Martha Hanlon & Chris Williams
P.S. Check out this other way other way to improve your January, February, March…and every month through December.