Home

A/B Testing Idea #78 - For high numbers, more than five digits, prices should not be rounded

Tactic_For high numbers, more than five digits, prices should not be rounded

Description

Careful and precise pricing is particularly important when dealing with a large sum of money. It has been shown that when purchasing a car, for example, people will actually pay more money when the prices are very precise and feature lower figures (i.e. would be willing to pay £26,213 over £25,000). This can be explained by the fact that we associate the small numbers used in precise pricing (1,2,3, etc.) as having small values and therefore automatically see these numbers and think the price is smaller.

Inspired by Nick Kolenda 

Principles

  • Perceived Value Pricing (Lee & Zhao, 2014; Poundstone, 2010; Mazumdar; Raj; Sinha, 2005; Thomas; Simon; Kadiyali, 2007)

The Research

Perceived Value Pricing

Perceived Value Pricing explains how our perceptions of a price and its value can be altered depending on how it is presented to us.

Browse A/B Testing Ideas bycategories
Browse A/B Testing Ideas bytype of website
Browse A/B Testing Ideas bydefinitions

Oops, you have reached your limit of 1 free tactic per hour

To get unlimited access to our 250+ tactics,
Join our FREE mailing list

*

Or wait 00:59:59

Congratulations!

You have unlocked our library of 250 tactics.
Keep learning or sign up to Convertize.com to start
implementing them directly in your webste.

Convert more Browsers into Buyers, today.

Try for FREE

No credit card required

Amazon S3 Web Services icon
Convertize reviews
Stripe icon
SSL icon