6 points of conversion growth or effective techniques of working with the price on the site

Why is it always worth pointing out the cost? What price to sell more? How to make the price tag even expensive goods to attract attention? How do users perceive numbers? Answers to these and other questions, the psychology of perception of numbers and useful content without the "water" in this article.

1. Price display

For a start, the price must be specified. This may sound strange, but some sites selling products or services hide pricing information. Apparently, this is done in the hope of so engaging users in the buying process, that they will feel obliged to pay. If this is somehow appropriate in the B2B sector (consulting, services, complex prefabricated services / structures), then for online stores the lack of prices is critical for conversion. How to send something to the basket without knowing the price?


pogarsenal.ru
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The problem with the lack of price is that you leave the user alone with his thoughts, which are not always close to reality. A person is prone to exaggeration and speculation in the absence of information. In other words, when seeing a product in a shop window without a price, a potential buyer exaggerates its cost rather than minimizing it. For example "They did not specify the price, it means ..."

• They hide something;
• They have too high prices, and therefore hid;
• Competitors prices are lower, and therefore do not show.

But even for the B2B sector, prices need to be specified - this will increase the conversion.

Reasons for hiding prices:

1.1. “It is not customary to indicate prices in our area”;
1.2. "Competitors will be aware of my pricing";
1.3. "We do not have standard rates, in each case the price is individual."

Next, analyze each cause in detail.

1.1. It is not customary to indicate prices in our area.

To this I have a favorite example, the launch vehicles from SpaceX. The site contains information on prices for launching missiles and even discounts are mentioned.


Spacex

Perhaps someone believes that there is low competition in the missile industry, so if someone needs to send a payload into orbit, in any case, customers will come to SpaceX, then you can find an incomplete list of launch vehicles. Over the past 20 years there will be more than 20 companies from different countries, from public to private. The competition is significant, not many will immediately recall 20 car manufacturers, and then the rocket.

1.2. We do not have standard rates, in each case the price is individual

Here, as an example, you can put cars as complex technological products. For example, the Mercedes-Benz S-Class may include more than 150 different variable parameters (8 engine options, 2 drives, 2 bodies, 12 colors, 28 salons, 17 disks, 51 options, etc.). Each parameter affects the cost, which as a result may be 3 times higher than the initial one. But this does not prevent to specify the price "from". In this case, users have a guide and understanding. And thanks to the configurator, one can understand the differences and advantages on the site.


Mercedes-Benz

1.3. Competitors will be aware of my pricing.

The bottom line is that competitors (with a great desire) will be able to find out your prices without a site. But most users will not go this far. Therefore, instead of hiding the price, tell and show you better than your competitors, even if your prices are higher.

It is desirable to place the price on the site, with it understood. Then we will talk about how to make the cost of goods on the site.

2. Reducing the price on the left

Gumroad conducted a test , as a result of which they found out that the price reduced by 1 cent shows a conversion higher.


Gumroad

The difference of one cent between the prices of $ 2.70 and $ 2.69 does not matter much. However, the difference of one cent between $ 3.00 and $ 2.99 seems huge. So why is the left digit so important? A study by Dr. Manoj Thomas and Professor Vicki Morwitz explains this: “As we read numbers from left to right, evaluating“ 2.99, ”the process of decoding values ​​begins as soon as our eyes collide with the number“ 2. ”. Consequently, the decoded value of $ 2.99 is tied to the leftmost digit (that is, to $ 2) and becomes significantly lower than the decoded value of $ 3.00 (p. 55 from the link above). That's why, in many, offline and online stores you can see the reduced numbers.


Lamoda

Periodically, you can see prices reduced not by 1 cent / ruble, but by 10 cents / rubles.


Svyaznoy

Judith Holdershaw, Philip Gandall and Ron Garland (Judith Holdershaw, Philip Gendall and Ron Garland) conducted a study in which they found that the numbers 9, 5, 0 at the end of the price show the highest conversion. But the number 9 was leading by a wide margin.


Conversion of different numbers at the end of the price

In some areas or countries, the conversion of 99 may prove to be worse than the conversion of 90 in price. Even Apple specifies different numbers at the end of the price for different countries. Therefore, it is necessary to conduct A / B tests for each site individually.


Apple.com (← left) and Apple.ru (right →)

3. Visual price reduction

To enhance the significance of the numbers on the left, a visual reduction of the numbers on the right is used. With prices in rubles it can also be done.


Home Depot, Organization is prohibited in the territory of the Russian Federation :)

4. Strike out price

Everyone knows the technology of the crossed out price, when the original price is crossed out, and the new one looks significantly lower. Many at this point may even think that the original price is artificially high.


Amazon uses strike price technology

But when it comes to the actual purchase, everything changes. The Nobel Prize in Economics in 2017 (for his contribution to behavioral economics) Richard Thaler co-authored the book " Nudge " (in Russian translation, the book is called " Architecture of choice " or "Push to solve"), in which he suggested that people are usually as interested in buying as the purchase of the product itself. In other words, many people like to make good deals, or at least feel that they were able to win with the purchase. It works with any goods, even very expensive ones.


Website of official dealer Rolls Royce (Avilon)

In order for users to feel the benefits of this offer, it is important to demonstrate not only the price they pay, but also its old counterpart (without a discount), then the new price (with a discount) will look much more attractive. For this purpose, the "old" price is left and crossed out. To enhance the effect, it is necessary to specify how much the user will save in money and as a percentage. An example of indicating the benefits on the M.Video website is below (highlighted in yellow).


M Video

5. Cost sharing

If delivery is paid, then it is worth separating the cost of goods and delivery. Similarly with other additional payments, for example, the VAT.


Ozon

Vicki Morvitz, Eric Greenleaf and Eric Johnson (Vicki Morwitz, Eric Greenleaf, Eric Johnson) conducted a study in which they found out that when sharing prices, users' perception is fixed on the basic cost of the product, and not on the final cost. And even when users compare your price with the price of your competitors, then, most likely, it will be the cost of the goods that will participate in the comparison.

6. Crushing prices for monthly payments

Suppose you sell a trimmer and its price is 15 990 rubles. It looks great, but a monthly payment of 426 rubles does not look so frightening. This difference makes the offer more attractive. Of course, people are not stupid and perfectly understand the difference and incorrectness of comparison between 15,990 rubles. and 426 rubles. But Trídib Mazumdar and Indrajit Sinha (Tridib Mazumdar, Indrajit Sinha) conducted a study which found that subconsciously, people compare approximate prices and in this case, lower prices by installments have a good chance to get in comparison. And your store is already on the subconscious perceived as inexpensive and more attractive.


M Video

And yet, I believe that the base price should take precedence. Otherwise, you may get the impression of fraud and fraud. Therefore, a small mention of the equivalent of a monthly payment is sufficient. In this case, the user sees the total amount, but the perception is fixed at the lowest values ​​of the price spectrum. You can enhance the effect by comparing the monthly payment with small expenses, such as a couple of cups of coffee instead of 426 rubles.

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By Edward Fayzullin, Founder of Conversant.me

UPD: Comments under the article began to leave the wrong steppe, so I will add an explanation:
This article is NOT about manipulation, fraud, deception, etc. This article is about perception. I will give an example for clarity: let's say you wanted to buy a bike. I emphasize: you wanted, no one forced you. You go to Google and search for options, choose the one that suits you and then choose by price. We went to the site of the store "A" whose price is 20.000 rubles and then to the site of the store "B" whose price for the same bike is 19.999 rubles. They chose shop “B” and enjoyed riding the bike, which they themselves chose.

And the manipulation is when the pensioner sits at home, everything is enough for her, she does not need anything. Here someone is ringing the door and manipulating the fears of a gas explosion in Magnitogorsk says that you need to buy a new meter for 5.000 rubles, which in general was not really needed. Here is this manipulation.

Fraud is theft of another’s property or the acquisition of the right to another’s property by fraud or breach of trust (article 159 of the Criminal Code of the Russian Federation). And an indication of the price of 1 ruble less is not a fraud, because the final price is in front of the buyer, wants to buy, but does not want, can turn to another store or refuse to buy at all, no one forces.

Fraud is considered to be intentional silence about the circumstances about which the person had to report with the good faith that was required of him under the terms of circulation (article 179 of the Civil Code of the Russian Federation). For example, the price of a bike on the site is 20,000 rubles, and 22,000 rubles have been written off from the card when buying - this is a hoax. And the crossed out price is not a hoax, because the final price is in front of the buyer. This price suits him - he buys, and if he does not like it, he does not buy. The case is voluntary.

To understand, try to find in the example with bikes an element of fraud or deception. They are not there. Therefore, please do not confuse red with sour.