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Use precise prices ($258.45), don't round them ($250)

When you use moderate ($21,400) or highly ($21,468.45) precise prices customers negotiate less and will ultimately pay more.

This happens because:

  1. Precise prices are a better anchor.
  2. Buyers see it as more credible. They assume there’s a good reason it’s set at that price (And better if you really do have a good reason/story!).

This works very well when selling high-priced items that will be negotiated (a house, a car, a supplier contract). It could work in other contexts, but that has been studied much less.

If you're interested in learning more about the nuances behind this, the difference between amateur and expert buyers, and some more examples, here is a 3-min summary of this research and here is the link to the full research paper.

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    This comment was deleted 3 years ago.

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      Here is my e-book in pdf format it costs $17,81. 🤷‍♂️

      Haha you're right, when you put it like that it definitely sounds strange.

      And thank you @anilkilic , great hear you like them! I really think there's not enough research-based work out there so that's a big motivational driver.

      For now it's growing at a good rate (450 subscribers in 6 weeks) although not as fast as I'm aiming for - but I'm hoping/assuming growth will not be linear.

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