First 1000 - Revisit your prior assumption
Hello friends 👋 Canva recently ran an experiment to eliminate “psychological pricing" or "charm pricing" from their monthly plan, and to my surprise, the experiment won! Charm pricing uses $.99 based on the assumption that prices ending in .99 appear significantly lower to consumers than they are. This pricing strategy hinges on the concept of the "left-digit effect," where the leftmost digit disproportionately influences the perception of the overall price. For example, $2.99 feels much closer to $2.00 than $3.00, even though it is just one cent away from $3.00. I want to challenge you today to revisit and validate 1 or 2 things you have always assumed to be true about your product, business, or job,
Talk soon,
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