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The prices of products and services are often displayed in a way that includes many syllables. However, studies have shown that customers are more likely to make a purchase when the prices of a product or service is displayed with fewer syllables.
Although it may look insignificant, the syllabic length of your pricing impacts how it is viewed. What do you mean? Simply, the higher the number of syllables in a price, the more mental resources are required to understand it. Our minds are programmed to seek out the most straightforward and practical path to a goal. The more work it takes to figure out a price, the higher we think it is.
A syllable is a unit of pronunciation. It is made up of one or more letters that are pronounced together. The number of syllables in a word determines its stress pattern. In English, words are typically stressed on the first syllable if they have one syllable, on the second syllable if they have two syllables, and on the third syllable if they have three or more syllables.
There are many ways to count the number of syllables in a word. The most common method is to count the number of vowel sounds. This can be tricky, because some vowel sounds are short and some are long. For example, the word "cat" has one vowel sound, but the word "cake" has two vowel sounds. Another way to count syllables is to count the number of times your jaw drops when you say the word.
In today's world, people are bombarded with choices. When it comes to choosing a product, people often choose the one with the lower price. In order to make their products more appealing to consumers, some companies are using a new pricing tactic- choosing prices with fewer syllables. This tactic is based on the idea that people are more likely to choose a product with a lower price if the price is easy to say.
Not sure about how to count the syllables, you could use a website like How Many Syllables which breaks down the numbers for you as shown in the image down below.
For this example we'll use the number $83,57. Let's parse this into some different subjects to make it more understandable.
Let's continue with a different price, but fewer syllables.
We've changed the pricing to something higher than we had for the 7 syllables pricing.
So we've increase the price, with fewer syllables. Let's experiment if this works for your target audience. They easiest way is to round up your prices, but make sure you experiment with different increases to see what works for you.
Pricing is crucial, but it's only one aspect of the sentiments, beliefs, values, and brand you build around your company and your product, including the significance of the name you pick. You could use round numbers. Instead of $17.99, try $18. This makes the price seem simpler and more straightforward.
Are you curious about how to apply this bias in experimentation? We've got that information available for you!