How you communicate your prices matters… both legally and from a buyer psychology perspective.
In the UK, if you offer a full payment AND instalment option, you are legally allowed to discount your price for full payment upfront, but you are not permitted to charge extra for offering instalments.
When both options are available, the instalments should be listed first.
The total of the instalments is ‘the price’.
The discounted pay in full amount is the reward for early settlement, so list that second
From your buyers’ perspective, the first amount they see is anchored as the actual price.
Then the second amount is either a reward or a punishment.
When you list your pay in full price first, that’s the number they anchor as the actual price.
When the total of the instalments is higher, the people who choose this option feel like they’re being punished.
When the instalments are shown first, the people who opt for instalments feel like they’re paying the actual price.
And the pay in full buyers feel they’re being rewarded.
However you present your offer, when PiF is lower than instalments, upfront payers are being rewarded for reducing your risk.
The difference when you list the instalments first, the people who choose this option won’t feel they’re being penalised by you!
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Watch over my shoulder as I review and tweak 5 pieces of promo copy from 5 different business owners and explain how each edit will increase their authority and impact
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