Increase sales with these ecommerce pricing tweaks

In the survey we sent out, many of you said you’d like to a) increase your LHS sales, and b) learn how to sell more physical products.

In the spirit of “low hanging”, I thought I’d share a couple quick pricing tweaks that can help you with both of these things.

See – it’s remarkable how making a few changes to the way you word things can help you make more sales.

I’m going to give you a few different, easy, proven things you can do to make more sales when pricing your products.

I’d forgotten about some of these things and can’t wait to implement them!

And remember: even if you’re selling on Amazon, Etsy, etc and don’t have a ton of control over how these things are presented in a shopping cart, you can still edit your descriptions accordingly.

Here goes:

#1 End your prices in .97 to communicate a great deal

Retail studies have shown that “odd pricing” – i.e. prices that end in  1, 3, 4, 7, or 9 – are responsible for more sales than pricing ending in 0, 2, 4, 6, or 8.

Many split tests say that of those odd numbers, “7” converts the best.

There are several theories for this. Some say it’s an unconscious thing related to the sound of the words -i.e. “seven” is apparently the most pleasing because the tone in the word descends, “eight” sounds flat, and “nine” is ascending. “7” is also associated with luck, which might have something to do with it.

Regardless of the reason, large stores who want to communicate “good value” regularly end their prices in 7.

Nordstrom, the high-end clothing store, normally ends their prices in “0” since they don’t compete on price. Nordstrom Rack, their discount brand, has all prices ending in “7”.

At Costco, a clearance price ends with a 7.

Most of Wal-Mart’s prices end in 7.

#2 Show the savings

If you’re offering a discount, show customers how much they’re saving so as to highlight the good deal they’re getting.

If you’re running a sale on an item, say “It’s 50% off. Save $7”, or “Was $14.95, now $7.95”.

This helps illustrate the value people are getting.

#3 Use numerical digits, not words

People have an easier and quicker time processing numbers than they do words.

Instead of saying everything is “half price,” say everything is “50% off”.

Since people “get” numbers faster, they can anchor in the deal better. When they’re sorting through lots of options, this gives you a competitive advantage.

#4 Establish a price anchor

Anchoring refers to the tendency to heavily rely on the first piece of information offered when making decisions.

If you establish the initial value of your goods to be, for example, $19.97 and then indicate an actual price of only $14.97, your customers will feel they’re getting a bargain.

If you’re advertising a huge price difference, like $14.97 down from $99.97, explain why your prices are cheaper so customers don’t feel like they’re being deceived.

#5 Reframe expenses with small words

Little words can make a big impact.

Saying something like “this only costs $9.95″ versus “this costs $9.95” has proven to make a difference in sales.

Another example of this is saying that something has a small $5 fee instead of a $5 fee.

Seemingly insignificant copy add-ons like that can have a surprisingly persuasive effect.

#6 Keep prices simple

Of these three options:

  • $2,399.00,
  • $2,399,
  • $2399

…which do you think appeals the most to customers?

The answer is price #3: $2399.

That’s because it’s the simplest. There are no extra zeros and no commas, both of which make the first two prices seem more expensive. It also has the least amount of syllables, which subconsciously makes it feel smaller.

#7 Use words that are related to a small magnitude

In a study by the Journal of Consumer Psychology, participants preferred pricing on inline skates that had descriptions using words with “small” language, like “low friction” versus “high performance”.

If you want to compete on price, use words that reference a smaller magnitude (“small”, “tiny”, “low) versus words like “large”, “huge”, “massive”.

An example mug description tying this all in:

I know not all of you are selling mugs but since many of you are, here’s an example description that ties everything but #6 (reserved for higher priced items) in:

This easy-to-wash, dishwasher and microwave-safe mug is normally $24.97 — today there’s a 25% discount, making it only $19.97!

Your gift recipient will love this low maintenance mug that is sure to bring a smile to their face.

I hope this helps!

75 Ways to get your creative juices pumping

Here's some inspiration if you're stuck for new design ideas.

First off, thank you to everyone who participated in the survey I sent out last week! Your feedback has been really  helpful.

And looking at the results of that survey, it seems like a significant number of people want to learn about how to make more money with the Low Hanging System.

I know not everyone participates in LHS. But if you’re involved with ecommerce and creating new designs in any capacity, this post still applies.

Sometimes, your creative juices run now. Or, you feel blocked or stuck for new ideas. To help jump-start your creativity whenever this happens, I’ve compiled a list of 75 design suggestions for you.

The way that I arrived at this list was by first creating two shorter lists — one was a list of niches and the other was a list of design categories, which I chose based on what has sold the best in the past (see below).

Niche: 

  • Family
  • Love and friendship
  • Studies (e.g. geology, biology)
  • Celebrations
  • Occupations
  • Sports
  • Hobbies
  • Travel
  • Politics
  • Social Movements / Ideologies
  • Animals
  • Miscellaneous

Design Category: 

  • Sarcasm
  • Sentimentality / love
  • Enthusiasm / support
  • Humor
  • Puns
  • Quotes

Then, I combined the niches the categories (whenever it made sense) to come up with a big list of design suggestions, which you can find below. (I also throw in a few extra ideas here and there for good measure.)

Family

A sarcastic way to show [insert family member] you love them (e.g. your mom, stepdad, grandpa, niece, etc.)

A sentimental way to show [insert family member] you care (e.g. dad, sister, uncle, cousin, etc.)

Funny puns or quotes about specific family members

Sarcastic design about being a new parent (e.g. something about being sleep deprived)

Funny design about being a new parent (e.g. something about breastfeeding for new moms)

A Mr. and Mrs. set

Love and Friendship

A sarcastic way of expressing love for a partner or spouse

A sentimental way of expressing love for a partner or spouse

Something funny about best friends

Something sweet about best friends

A quote or pun about the value of friendship

A quote about long-distance love

Quotes about being kind to one another just in general

Quotes about positive thinking, good vibes

Studies

Psychology puns

Geology puns

Geometry puns

Biology puns

Chemistry puns

Physics puns

Literary puns

Celebrations

Something funny about milestone birthdays (e.g. dirty thirty or being “over the hill”)

Enthusiasm towards retirement

Enthusiasm towards graduating

Something funny about bachelorette / bachelor parties

Something sentimental about a newborn baby

Jokes about becoming new parents

Funny design about getting married

Sentimental design about getting married

Funny design about getting engaged

Sentimental design about getting engaged

A sarcastic way to celebrate an anniversary

A sentimental way to celebrate an anniversary

Things You Do: Occupations, Sports, and Hobbies

Funny or sarcastic design about bosses

Enthusiasm or gratitude for a boss

Sarcastic or funny designs about specific occupations (e.g. accountant, occupational therapist, social worker, etc.)

Enthusiasm for specific occupations

Sarcastic or funny designs about coaches or fitness instructors

Enthusiasm or gratitude for coaches or fitness instructors

Enthusiasm for specific types of sports (e.g. softball, rugby)

Sarcastic design about specific types of sports (e.g. football, soccer)

Enthusiasm for specific hobbies (e.g. knitting, fishing)

Sarcastic design about specific hobbies (e.g. baking, playing guitar)

Travel

Enthusiasm for being a world traveler

Showing love towards specific cities, states, or countries (e.g. I heart San Francisco)

City names plus an image of their skyline or things specific to that place

Quotes based on accents from different places (e.g. design about Boston using the word “wicked”)

Politics

Sarcastic design about Donald Trump

Showing love for Donald Trump

Sarcastic design about Democrats and liberals

Sarcastic design about Republicans and conservatives

Enthusiasm for being a Democrat / liberal pride

Enthusiasm for being a Republican / conservative pride

Sarcastic design about being another party (e.g. libertarian or green)

Enthusiasm for being another party

Social Movements / Ideologies

Enthusiasm for feminism

Enthusiasm for LGBTQ rights

Enthusiasm for Black Lives Matter

Support for immigrants

Enthusiasm and support for equality in general

Animals

A sentimental way of expressing love for dogs (specific breeds)

A sentimental way of expressing love for cats (specific breeds)

Funny quotes or puns about dogs

Funny quotes or puns about cats

Love for any other animal someone might have for a pet (e.g. fish, hamsters, birds, etc.)

Funny quotes or puns about any other types of pets

Miscellaneous

Funny design about superheros

Funny or sarcastic quotes about dieting

Food and drink puns

Jokes about swearing a lot

Jokes about drinking alcohol

Jokes about farting / poop

Funny to-do lists (e.g. involving drinking coffee)

Funny sexual innuendos

Designs people can personalize (e.g. insert their names)

What do you think of this big list of design ideas? Can you come up with any other good suggestions? Please leave a comment below and let me know!

Here's some inspiration if you're stuck for new design ideas.

Check out this behind-the-scenes look at the warehouse

Check out this behind-the-scenes look at my production warehouse for my ecommerce business.

I talk about the warehouse a lot. It’s the hub where the bulk of this business happens. And, to me, the warehouse is more than just a place of business.

To me, the warehouse represents a group of people, who’ve become like family, who come together each day to be creative and help make fun, unique products that put smiles on the faces of customers from around the world.

I’ve been meaning to take you on a video tour of the warehouse for a while now so you can get a feel for what it’s like.

Finally, the video has been made!

WARNING: I’m definitely not a cinematographer so the videos are bumpy and have quick transitions, so keep that in mind if you easily get motion sick. You might prefer the pictures.

The volume is also a little low, and I’m going to get a new video made. But I think this is “good enough” for now.

You’ll also notice the place is still very messy from the Christmas chaos. A major cleanup is in order,  but at least you know this is authentic. ;) haha. Here you go:

Here’s a more “official” video one of our team members, Dan, made at a trade show:

It’s hard to capture the essence of the warehouse or how much fun we all have together in a video. But I think it’s still pretty cool to have a walk-through and get a feel for what the warehouse looks like. Kind of like putting a face to a name — you’re putting a face to a place here, and I think it makes it seem less abstract that way.

And since the videos move quickly, I’ve also uploaded a bunch of pictures of the warehouse, which you can check out below.

I hope you enjoyed this virtual warehouse tour. Please leave a comment below and let me know what you think! :-) 

Check out this behind-the-scenes tour of the production warehouse for my ecommerce business.