Pricing Psychology Can be Used to Increase Sales. The Technique Described in this Video Uses the Psychology Surrounding “Number Facts” to Maximise Sales
Research shows that our brains are hardwired with mathematical and arithmetical facts learnt in our first school years. This makes the processing of numbers much easier when we are presented with a limited number of related figures (operands).
The impact of sales, both on and off line can be significant if this strategy is sensitively applied.
Value Based Pricing is an Alternative Pricing Strategy Few FE Providers Use
Most FE Providers ignore Value Based Pricing Strategies and go for Flat Pricing with a single option. For example, a course is charged at £195 per person. There are no other options.
This is a quick and easy way to quote but it means you are going to be compared with your competitors on price. And that means someone will always try to do it cheaper and, even if you get the work, the margins are very slim.
When negotiating there are two ways to name a price.
You either publish one in advance, and lose all chances of negotiating a better deal, or you can negotiate one, where you hold the best cards.
If you publish a price on your website, or in your brochure, it becomes binding in many ways. Psychologically the customer will see this as your maximum price and will try to get a reduction on this. If you’ve tried to be clever, and have inflated the published price, then it might drive away many prospective customers that are initially making a search based on price.
The reality is that price is rarely the only factor buyers take into account. So you can negotiate.
As Principal I employed very few consultants but did employ Stefan on the basis of a clear ROI.
I would recommend him to any college, university, business or Government agency as a reliable consultant who will become indispensable.
Ioan Morgan CBE Latterly FE College Principal & CEO
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Stefan is very thorough in his research and understanding of a clients requirements. He has a proven record of delivering comprehensive strategic marketing plans that address education / FE issues critical to the ongoing success of a ...MoreStefan is very thorough in his research and understanding of a clients requirements. He has a proven record of delivering comprehensive strategic marketing plans that address education / FE issues critical to the ongoing success of a college. I would recommend considering Stefan for any project that involves strategic planning, communication or digital marketing.
I have worked with Stefan and have learnt a lot from him. He has extensive knowledge in digital marketing and he is keen to share his passion for the kind of deep audience insights that digital marketing can offer. ...MoreI have worked with Stefan and have learnt a lot from him. He has extensive knowledge in digital marketing and he is keen to share his passion for the kind of deep audience insights that digital marketing can offer.
His enthusiasm for marketing is infectious and he is a joy to work with.
Stefan is a valuable and regular source of sage advice and counterintuitive thinking. His tips on media and visibility have benefited my both clients and me and he always has an insightful perspective to share. If you get the chance to work with him, take it!
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Having experienced a wide range of corporate marketing "experts" over the years, Stefan offers a very different cool and pragmatic approach. Without looking to simply throw money at the problem, he finds different ways and I've seen some great results.....