TEST IDEA #13: DISPOSITION EFFECT
The ??disposition effect?? cognitive bias can help you convince your customers that the gains they will have by buying your more expensive products and services are well worth it. You can target this bias by tweaking the way you present the pricing options and information on your pricing pages. Show them all the benefits they will have from investing in more expensive products and they will be more likely to purchase them.
SCIENCE BEHIND THIS IDEA
This cognitive bias states that humans decide how they are going to spend their money on the basis of what they are going to get for it. If we believe we will get massive gains from an investment, we?re willing to ignore the risks and the price tag. Sounds familiar and makes total sense, doesn?t it? Butthere?s a way you can use this trait to your advantage in website optimization.
Although it makes sense, a lot of businesses fail to show their visitors what they will be getting for their money?s worth. That?s why you want to make sure you?re showing your customers all the benefits and features the more expensive plans entail. To enhance the ??disposition effect??, offer your
visitors 3 options on your pricing page, but in order to focus their attention on the more expensive option and make it look more appealing, pack that one with features and leave the cheaper options with basic tools and benefits.
This way your customers will see everything they are getting with the more expensive plans and will be more likely to make that investment.
What to test
Variant A, or your current pricing page, does not offer enough information about what customers are? getting with the more expensive options, and lists the same number of features and benefits across the board. Variant B, or the test version of your pricing page, clearly shows your customers that there
are many more advantages to the pricier options and helps them understand better that they have a lot more to gain if they make an investment.
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