Do you see that pricing halo?
Not sure what I mean?
It’s right there!
It’s the angelic glow emanating from your perfectly positioned and priced service package and product.
IT’S RIGHT THERE.
Oh, you don’t see it… because you don’t have one. And you don’t have one because you don’t know what it is nor did you know that they (pricing halos) exist.
So what IS a pricing halo?
It’s when you use your pricing anchor to make a specific product or service look better by comparison.
When compared to your pricing anchor everything else APPEARS to be more valuable and better priced…
making that product or service more attractive or more “heavenly”. Hence the term “halo”.
Halos Are Everywhere
Internal angelic pricing and halos are everywhere.
Have you seen them?
Of course you have. Like that time you went to your local fast food place and they had pricing for each product for small, medium and large (magic of three… remember that?). By comparison, the pricing for the large looks best because you get the most perceived value. Right?
That, my friend, is a pricing halo.
Don’t like my fast food example? Want more proof that pricing halos exist? Okay…let’s try Universal Studio’s Theme Park on for size. (Everybody likes theme parks, right?… Right!)
Okay… Imagine this, you’re at the front gates of Universal Studios. You’re waiting in line and you look up at the marquee and you see this: standard admission for $49, a ‘front of the line pass’ for $99 and a ‘VIP behind the scenes pass’ for $129. Not to mention you also see multiple day packages and bundles too but alas, I digress. The point is that you see halos everywhere!
Now, do you really think that with all the man power working for Universal Studios Theme Parks and the fast food headquarters that they would be using techniques that don’t work? Of course not.
Let Me See Your Pricing Halo
So what are you waiting for? Where’s YOUR pricing halo? Go on… get to it!
Have questions or comments? Let me hear it in the comments below.
Want to learn more about pricing and packaging your products and services for profit? Join me in The Blueprint: Your Guide To Profitable Pricing & Packaging.