Rollercoaster Pricing System
Just To Try For The Best Price!
We always talk about the psychology of selling in Internet Marketing, but one thing that is often overlooked is how annoying and short-lived some of the sales schemes are. Firesales, or “Dime Sales” where the price goes up, sometimes rapidly, increases the desire to “get in early” by prospective buyers, but it can leave a bad taste in their mouth because they feel rushed or weren’t around when the price was low. Not only that, sales that run up in price in one direction, tend to become less popular with time, as the price gets out of reach.
Enter Roller Coaster pricing. With some experience in “day-trading” the stock market a few years back, I know something about market psychology. One of the known times that the volume of trades can go way up, is when a perceived “bottom” is reached in a stock or index’s price. Why not apply that same psychology, and create a scenario where a product’s price goes up and down with every “refresh” of the potential buyer’s sales page? Surely, they will try hard to catch a “bottom” and it will increase sales!
There are several advantages to this price structure:
The price always goes up and down so the sale does not get “stale” with time as in a firesale when the price gets “too high”.
Many buyers do not take the time to find the absolute lowest price, but are satisfied with something lower than the highest price they see. This means that a few sales will be made far above what would be considered the market average for the product.
Buyers become so mesmerized with the “game” of finding the lower price that they will likely buy for the sake of securing the price, in addition to getting the product.
Buyers will not become weary or bitter about this pricing scheme as much as they would a firesale, which quickly runs away from them and does not allow them time to make a decision on their own terms. The Roller Coaster pricing structure makes the buyer feel empowered to change the price, unlike a firesale.
Throw A Wet Blanket on Firesales and Catch the Latest Pricing Ride!