4
1 Comment

Tip: Get conversions by anchoring your pricing to the "price" of not using your product

It's no surprise that showing potential customers how much you can save them will likely increase conversions. Consider listing the cost of not using your product as one of your pricing tiers.

Price anchoring refers to establishing a price that prospective customers can use as a reference point. Teamflow does this in an interesting way. They show the average cost of renting an office ($799/mo) as a pricing option right next to the price of using their virtual office software ($0-25/mo). When a potential customer compares the two and sees the potential savings, the software seems even more desirable. Here's what it looks like. To test it out for yourself, add a new "tier" to your pricing page, showing the estimated "price" of not using your product. Add a few bullets listing other disadvantages of not using your product. Place it to the left of your other tiers. And to avoid confusion, grey it out so that it's clear that it can't be selected.

More 30-second growth tips?

We share a tiny, bite-sized tip for growing your business a few times a week. Click here to see more and get Growth Bites in your inbox 👌

Trending on Indie Hackers
I'm 14 year old. I built my side project in 4 hrs and sold it for $2K within 4 days of Launch. Here is my Journey 🎉 27 comments List of places to submit your startup (for free!) 18 comments I'm 20 years old and launched an app that went #1 on the App Store. AMA. 17 comments I'm launching a new app and looking for feedback on the sales page 8 comments 💔 Y-Combinator rejection to new SAAS launch 🚀 5 comments I have hundreds of blog posts and over 100 YouTube videos. Website traffic is still ~30 per day. What am I doing wrong? 3 comments