Should Prices End in 7?

Regular reader Carolyn Permentier writes:

Have you heard/read any studies/thoughts on pricing?

I mean, I know $97 is better, as is $67, apparently, so do we know that ending with the number 7 works better?

When we get up in the 200 thru 900… any rule there?

Thanks for your input!

Here’s my response:

There are all kinds of opinions.

I’m not big on ending in the number 7.

Just test it and see what works best.

Major psychological price thresholds are (generally speaking) $50, $100, $500, and $1,000.

So $49, $99, $499, and $999 are good starting price points.

Whether you end the price in a 5, 7, or 9 is mostly irrelevant, although worth testing.

Also worth noting: Price plays a huge role in conversion. Some say it is the most overlooked opportunity to boost conversion rates. It also happens to be one of the harder elements of a letter to test.

(I have not yet gotten to the level of price testing, although I’ve read quite a bit on the subject.)

If you have an opinion or test result you’d like to share, please chime in by leaving a comment. Thanks!

-Ryan M. Healy