Business · 1:27
Pay Less, Get Less: What a Price Drop Taught Me
They believed that by paying less, they were getting less.
We dropped a course from $4,800 to $1,997.
You would think people would jump on that deal.
They didn't.
We had trouble getting people signed up for less than $2,000 when they were flying off the shelves at $4,800.
So we raised it to $3,000.
Sales went up.
We asked the students why.
It's a value thing.
Perception is reality when it comes to business.
That's price discovery.
Change one variable at a time.
Give it time and data points.
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What's the one price you'd test next in your business?
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