Psychology Is Everything

When it comes to purchasing a product customers will buy what they think is the best deal for them, because psychology is everything. This is why it's really important to know how your customers think.

A while ago I decided to test this philosophy and offered two amazing deals for our clients to choose from:

- One offer was deposit xxx and play with xxx. (for example: deposit 25 and play with 100 - 300% bonus)
- Second offer was a flat percent bonus (for example 400% bonus).

Even when the bonus offer was higher, more clients took the first offer, the fixed amount one. It led me to the conclusion that YOUR CUSTOMERS UNDERSTAND SIMPLICITY. If its not simple your customers won't purchase. Percentage isn't simple as a stand alone number! If you want to use percentage use it as a comparison (i.e. 30% off).

Few more points we found out:
1. Clients took more offers like deposit $29 than deposit $24 offers (9 vs 4).
2. Clients spent more when the dollar sign was removed from the cost (300 vs. $300)
3. Selling offers as a one deal instead of a full package. Your clients want to know what is the deal now, not what they get on their 4th deposit.
4. Make your deal exclusive for them, your customers want to feel unique. Give it to them!

Don't forget the most important rule, the $100 RULE:
1. < 100
If the price is less than $100 show the discount as percentage
2. > 100
if the price is more than $100 show the discount as amount

Comments

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