Should you put the price above or below a product to increase sales?
Imagine you're updating your product pages or putting together ad creative. Where do you put the price? Above or below?
Lucky for you, there's recent research to answer that question. So, if you've ever caught yourself staring at a price tag and thinking, "Why does this feel so expensive?" Well, it might just be because of where the price is placed.
Here's the short answer: Put that price tag below your product to make it feel cheaper. This works regardless of whether it's on your website, an ad, or even on your store shelves. It's like magic—people will think the price is lower than it actually is.
There's related research that shows, in some cases, putting the price to the left of the product can also work. So, remember to test both placements to see what makes your cash register sing. But when in doubt, put the price below your product.
Wait...but why? 🤔
So, why does this work?
In our brains, "down = less" and "up = more." So, when the price is lower, our brain is more likely to think, "Hey, that's a deal!"
What to watch out for ⚠️
This trick works best for budget-friendly items. So, if you're selling diamond-encrusted cat collars, maybe not so much. Also, the research in this study focused on single prices, not "was $24, now $19" or similar scenarios. So, if you're running a sale, the effect might not be as strong. But you should test it to see what gives you the best results.
How to do it
This one is pretty simple:
- Audit Your Price Tags: Check your website, ads, and in-store displays. Where's that price tag sitting?
- Move It Down: Place the price below the product. Simple as that.
One more thing you can try: Above, we mentioned also testing the price to the left of the product, but you can also test the corners, like the bottom-left. Some research says to avoid the bottom-right, but hey, test it if you're curious.
So, if you are ready to make your prices as appealing as a double rainbow, give these tips a whirl and let the good times roll.
Want to learn more? 🤓
If you want to learn more about this topic, you can dig into the nerdy details in the original marketing study here.
Quote of the week 💬
"Marketing is the art of convincing people to spend money they don't have for something they don't need."
- Will Rogers
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