Charles Burdett writes that plenty of people still buy his £90 physical product – a card deck to facilitate workshops – even though he gives the digital version away for free:
I’ve learnt that there’s only three levels of pricing: Premium, free or Introductory Pricing. The psychology around introductory is that it rewards loyalty to customers, but then after a certain date, the price increases permanently.
People save money on discount brands, to spend on Premium brands, so which one we choose to be determines the price we should be asking for.
He also writes on Reddit:
The biggest thing I learned is that, your price is also a part of your product. It’s a part of the story people buy into. A higher price also signals high value.
What does your price say about your product or service? 🤔
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