Business Benefits
Increase the number of purchased plans by making product features more accessible.
Collect robust analytics data and survey customers about the services and products that matter most to them.
Identify what they’d pay for your products or services to ensure you show the products and plans that resonate with each demographic, and display unique pricing tiers for each one’s price tolerance.
Choose a tone for discussing your product that matches your audience, and use single-word labels that show which option is best for which customer like bootstrapper vs. startup, to make it easy for customers to know which product is for them.
Appcues does a fantastic job at this by breaking down their pricing into three tiers that adjust in price based on a prospective customer’s monthly active users (MAUs).
Highlight the key features of each plan to make it easy for customers to understand what they’re getting.
Don’t clutter your page with too much detail - instead break down the exact product cost and why it’s worth your customers’ money with information such as product comparisons.
For example, Campaign Monitor’s pricing page shows their understanding that customers fall into two buckets; those who need casual use of their email service, and those that need a robust, high-frequency package. Based on this, they outline clearly the features and differences between basic and unlimited packages.
Include FAQs, access to customer support, reviews from other customers, and information on trials, returns, or guarantees on your pricing page, to give customers the resources they need.
Drift does this almost to perfection - they include customer support front and center for users who need extra information on which plan is right for them.
Use cosmetic and true market-based localization techniques to localize your pricing.
Cosmetic localization involves adjusting currency on your site, changing elements of your website design, and tweaking your payment process to line up with regional best practices. True, market-based localization involves carrying out market research into the demand for similar products in your region and what the geographic price tolerance is.
Leverage psychology in your page design by using a contrasting color to highlight your most popular, but mid-priced plan in the page design, to draw customers’ eyes to it immediately and create a favorable opinion of that plan over the others.
You can also leverage psychology in pricing by decreasing your list prices by a couple of cents, for example, $1.99 vs. $2.00. Unbounce does a fantastic job leveraging psychology on their pricing page, as shown in the image below. It includes bright, contrasting colors without cluttering the page, as well as eye-catching CTAs for each pricing tier.
Use CTAs that reinforce to your customers the value that they’re getting with your product.
For example, Start Saving Time Today or Increase Customer Satisfaction Now.
Mailchimp does this well, they use urgent, now-centered language to prompt action and explain what customers get with each plan, Sign Up Now for paid plans vs. Start Now Free for the free plan.
Other ways you can design a CTA that grabs your customers are by using a bright, high-contrast color that fits well with your brand, keeping your CTA in the top half of your page, and A/B testing different language for your CTAs on pricing pages, to home in on the wording that customers respond to best.
Encourage upfront annual payments by offering three tiers of pricing discounts based on different payment periods.
The cheapest and longest-term plan should be listed first, followed by a middle-tier plan, then your least-discounted plan on the right.
You can see this clearly on Harvest’s pricing page. They lay out their three tiers from least to most expensive and include a feature above that allows users to toggle between monthly and annual pricing, with clear language that incentivizes annual plans with a 10% discount.
A word of caution: don’t fall into the trap of aggressive, time-limited price discounts. Customers know that other discounts for your services or your competitors’ will come again, making them less likely to stay with you down the road.
Monitor your page’s performance metrics to adjust your design and price points regularly, using data from surveying current and prospective customers.
When creating your survey strategy, a good rule of thumb is to survey 25% of your customers quarterly to get a statistically significant picture of the opinions of your customer base.
Last edited by @hesh_fekry 2023-11-14T15:55:42Z