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Why Your Most Expensive Photography Package Should be Listed First




I'm sure as a photographer, you've heard you should always list your highest cost package first, but ๐™๐™–๐™จ ๐™–๐™ฃ๐™ฎ๐™ค๐™ฃ๐™š ๐™š๐™ซ๐™š๐™ง ๐™ฉ๐™ค๐™ก๐™™ ๐™ฎ๐™ค๐™ช ๐™ฌ๐™๐™ฎ? What you haven't been told is that there's a very good reason behind this piece of advice. And it's basic human psychology.


Studies show that we have a very particular way in which we make a purchase decision. We heavily lean on the initial piece of information we receive as a point of reference when making a purchase decision that involves choice.


๐™๐™๐™š ๐™›๐™ž๐™ง๐™จ๐™ฉ ๐™ฅ๐™–๐™˜๐™ ๐™–๐™œ๐™š ๐™– ๐™ฅ๐™š๐™ง๐™จ๐™ค๐™ฃ ๐™จ๐™š๐™š๐™จ ๐™ž๐™ฃ ๐™ฎ๐™ค๐™ช๐™ง ๐™ž๐™ฃ๐™ซ๐™š๐™จ๐™ฉ๐™ข๐™š๐™ฃ๐™ฉ ๐™œ๐™ช๐™ž๐™™๐™š ๐™—๐™š๐™˜๐™ค๐™ข๐™š๐™จ ๐™ฉ๐™๐™š๐™ž๐™ง ๐™ฅ๐™ค๐™ž๐™ฃ๐™ฉ ๐™ค๐™› ๐™ง๐™š๐™›๐™š๐™ง๐™š๐™ฃ๐™˜๐™š, ๐™ฃ๐™ค ๐™ข๐™–๐™ฉ๐™ฉ๐™š๐™ง ๐™ฌ๐™๐™–๐™ฉ ๐™ž๐™ฉ ๐™ž๐™จ ๐™ฅ๐™ง๐™ž๐™˜๐™š๐™™ ๐™–๐™ฉ.


This point of reference is also known as a โ€œprice anchor.โ€


So, for example, maybe youโ€™re shopping for a new host for your website. The first package presented as the price anchor is $700/year. Itโ€™s got everything you need plus more! Then youโ€™re presented with the second package thatโ€™s $400/year. Itโ€™s got what youโ€™ll need to get your website going and serve the needs of your business. It may not have many bells and whistles, but itโ€™s got what you need. And in comparison to the top package, this feels like more of a reasonable investment and makes more sense, making you more likely to purchase this second package than if you hadnโ€™t seen the first package at all.


The first number your client sees is their reference point and they make their investment decision based on that number. If you start with your lowest-priced package first, the increasing numbers donโ€™t feel reasonable. They start to sting because the reference point didnโ€™t set the bar high enough and itโ€™s very unlikely that a purchase beyond your lowest package will ever be made.


Now that you know the "why" behind this common piece of advice, I hope the foundation to your business decisions is a bit stronger!


So, tell me! Did you know the reason you should list your highest cost package first before you found this post?



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