4 secrets to better subscription pricing psychology

Subscription pricing psychology is nothing short of an art form in today’s SaaS-driven climate. You’re most likely familiar with brick-and-mortar pricing psychology strategies and wondering how this translates to the subscription business model. The short answer is that it doesn’t. Consumers have become savvy over time, and gimmicks like fake time constraints and discounts aren’t necessarily going to influence anyone to invest in long-term services.

So how can SaaS companies offer compelling pricing? Thankfully, psychology still plays a significant role in conversions. It’s possible to embrace the science of decision-making to boost conversions.

Key ways pricing psychology can help you grow your subscriptions:

• Compels people to pay attention to what you’re selling
• Simplifies the decision process so customers can easily convert
• Creates a sense of urgency so that customers act fast
• Fosters the feeling of having made a smart decision
• Builds perceived trust in your products and services

In this video, we explore four different ways to use pricing psychology to increase your subscriptions and revenue.

00:00 - #1 Pay attention to median pricing
00:23 - #2 Give your customers billing options
00:37 - #3 Put customers in a good mood
00:53 - #4 Beware of the anchoring effect

#SubscriptionBilling #SubscriptionPricing #MicrosoftDynamics

Видео 4 secrets to better subscription pricing psychology канала Binary Stream Software