Public Relations & Social Marketing Insight

Pricing pages have a huge impact on online sales. Designing the right pricing page is key to increasing checkouts and revenue, but there’s a lot more to a pricing page than its design.

Since emotions and psychological triggers influence purchasing behavior, and since consumers depend on products and services to fulfill emotional needs in their lives, pricing pages should meet those needs.

The way things are presented to people affects their decision-making. In this post, we’ll take a look at psychological triggers that influence purchasing behavior. We’ll also go over how to incorporate the triggers into pricing pages.

1. Decoy Effect
According to the decoy effect, consumers have a hard time making up their minds. So, when they are given two options, they tend to prefer the first option because it looks better, even though both options could be exactly the same.

People have a noticeable change in preference according to the way choices are presented. Sometimes, using a third option helps to guide them toward a specific choice. Considering the decoy effect, make sure you offer pricing plans that lead customers to purchase the plan you want them to purchase.

Let’s take a look at The Economist’s famous pricing page to better understand how to incorporate the decoy effect into your pricing page design. The first plan costs $59 for the online version only, the second plan costs $125 for the print version only, and the third plan costs $125 for both print and online versions...