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When it comes to purchasing items that hold sentimental value, many people are willing to overlook the price tag. Whether it is a gift for a loved one or a special trinket to commemorate a personal milestone, the price of the item takes a backseat to its sentimental value. This is because emotional products provide us with intangible benefits that are priceless.
Although we may not be consciously aware of it, we place a great importance on our sentimental items. Strong emotional benefits often accompany emotional products. Therefore, highlight these over the economic value.
The first exposure dictates our decision criteria. It's about price vs. product.
Show emotional products before prices, allowing customers to appreciate the associated benefits. Examples of emotional products are products related to marriage or breaking up, to giving birth, children, passing away etc. Often products or services related to these categories are expensive since people in certain situations are willing to pay.
When it comes to rational products, the reverse is true. If prices are displayed, customers will be more focused on the economic and sensible value.
When you have a website with a focus on luxury products like jewelry or an expensive brand make sure you don't emphasize the prices. Don't make them to big, show the benefits of the product first. It's often the case that images are important here, which makes is easier to reduce the emphasize on the price.
Make no mention of money. Instead, stress the number of times clients will spend with you. Researchers rotated three signs for a lemonade stand:
The time sign drew twice as many visitors, which paid twice as much!
Are you curious about how to apply this bias in experimentation? We've got that information available for you!