007 | The newest pricing page approach

EDITION 007 | More Room to Think (Archives) | Formentor Labs​
​READ TIME: 3 minutes

🗓️ New this week

It was maybe 7:00am and a friend sent me a screenshot.

"NO way."

My daughter and I became the face of AFC Toronto Women's soccer ads on socials. Get your season tickets - we said.

We had attended the final this season and I'd nearly forgotten we posed for a crowd photographer.

My kid is missing two front teeth and grinning ear to ear.

I'm going to print it out. It's going straight into the memories bin.

Make a little room to think Now is a perfect moment to take a breath. 8 seconds in, pause, 8 seconds out.

🔬 This week's topic

Connect with our customers where it has the biggest impact.

THE PREMISE

We're going to talk about connecting with our customers at a critical point in their journey: we're looking at pricing.

Importantly - thinking not about what we say but how we say it.

The pricing element is critical content for any purchase journey. When we present pricing effectively we can see massive change in buyer behaviours.

Thing is, most pricing treatments only tell half the story. The easy half.

• Many pricing pages only appeal to the buyer's cost/benefit decision: there are features, benefits, claims, maybe bonuses and a price. Transactional.
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• We don't buy things purely on arithmetic. Purchase decisions weigh heavily on the emotional component, too. Buyers are exploring a purchase to either avoid a bad feeling or to pursue a good feeling. (Naming those feelings is done with customer interviews.)

Check out Talia Wolf and her work on emotional targeting. She's the coolest, and she wrote a whole book on it.

WHY IT'S IMPORTANT TO OUR GROWTH IDEAS

Leaders watch revenue above all other metrics. If we want to show we can influence revenue with our idea, it's likely that we'll need to present something adjacent to pricing.

Why? The pricing element often sits at the step right before purchase. Any improvement here is going to directly affect buyer behaviour leading to revenue.

In one of my previous roles, it only took six experiments on the pricing page to improve paid user growth by 25%!

HOW WE CAN USE IT THIS WEEK

Bringing this one home -- we want to connect emotionally with our customer and we want to show that can influence revenue.

We've only got so much real estate to work with on a pricing page, and it's especially tight for mobile shopping.

How can we connect to our buyers on an emotional level without smashing our pricing layout to smithereens?

Choose a format that allows the most personality to show - video.

See how Trust Keith presents a familiar SaaS 3-column pricing layout but then adds in this autoplay "get-to-know-us" video? Right at the point of decision. It's simple but powerful.

If we were to test this concept on our website, we'd do it in two steps:

1. Interview our buyers to understand what language they use to process a purchase of our product, and borrow their words.
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2. Record a video. Set up a straightforward A/B test measuring buyer behaviour on the pricing page. Does the video help visitors add to cart or book a demo?

This one's worth a try. Let's check our hair before going in front of camera... and yep, just as I suspected. We look great.

We even have our two front teeth.

✌️

Pssssst, hey

These are the early editions of Room to Think.
I could use any support to nurture my growing audience:

• Forward this to the author of your favourite marketing newsletter. Collabs are how newsletters grow.
• I'm an active speaker and looking for more speaking stage and guest podcast appearances. A quick intro is more than helpful.

Did you learn something from this newsletter? Did you put it into practice? I'm dying to hear how it went. Please email letstalk@formentor.ca and share your thoughts.