The Psychology of Pricing: How to Format Your Numbers
Does removing the dollar sign increase spending? Why you should use 'anchor pricing' on your invoices.
By Joseph Allen · Pricing Expert
· 1 min read
Strategy
How you present the price matters. Fine dining menus remove the currency symbol (e.g., "30" instead of "$30") to take the focus off the pain of paying.
On invoices with multiple packages, use Price Anchoring. List your expensive "Enterprise" package first. It makes the "Standard" package looks like a bargain in comparison, increasing the upsell conversion rate.