How to Use “Price Anchors” to Make More Sales

The most popular item at any steakhouse is almost always the second-most expensive steak on the menu.

That’s because the second-most expensive steak looks like a bargain next to the most-expensive steak. 

If you want to sell more of your $1000 watches, start listing them next to a $3000 watch. 

This works because of a cognitive bias that’s built into all of us. We don’t judge prices objectively – we judge them comparatively. 

The practical application of this is pretty simple. You should have a premium option on your pricing “menu,” no matter what you’re selling.

Most people aren’t going to choose that option, but that’s fine – the entire point of including it is to make the rest of your options look like great value by comparison. 

Test it out and see what happens! 

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Danny Decker

I work with business owners to create real, practical marketing plans – and create systems to make sure the plan actually gets executed. I’ll help you put a strategy in place to create predictably positive cash-flow, to generate new leads consistently, to create more referrals and word-of-mouth marketing, and much more.

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