Melina Palmer is an award-winning podcaster and author of several books about neuroscience and marketing - today she is here to blow our minds with insight into the way we price products. Her new book - The Truth About Pricing is out next month and explains the neuroscience of consumer behavior and how we can use it to improve pricing, increase sales and create better “brain-friendly” messaging about our prices.
- How traditional pricing advice ignores psychology and creates overwhelm
- Why most buyers don't actually make decisions based on price
- How the brain makes decisions, and why is this important when it comes to pricing
- The difference between a value business and a quality business and why it is important to decide which one you are.
- How status quo bias and loss aversion affect business owners when they are making decisions around pricing
- How brand owners fall into a trap of me-too pricing and how you can avoid it
- Choice architecture and some of the practical ways that this can be applied to pricing for ecommerce product brands
- What are ‘nudges’ and why they are important
- What is the best number to end your prices with?
To hear more from Melina follow her at @thebrainybiz pretty much everywhere (also “Melina Palmer” and “The Brainy Business” on LinkedIn). Follow #TruthAboutPricing to connect and see insights from others. Get a free chapter of any of Melina’s books by going to: www.thebrainybusiness.com/jessie
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