Pricing Anchoring 101: How to Structure Packages That Sell
Psychology tells us that people can’t judge value in a vacuum. Learn how to use "Goldilocks Pricing" to guide clients to the package you want them to buy.
Introduction
If you offer a client one price, they have a "Yes/No" decision to make.
- "Is this worth $5,000? Yes or No?"
If you offer a client three prices, they have a "Which one?" decision to make.
- "Do I want the Basic, the Standard, or the Premium?"
The "Which one?" question is much safer for you. It assumes they are buying something.
This is called Price Anchoring. And if you aren't doing it, you are leaving money on the table.
The Goldilocks Effect
People avoid extremes. They don't want the cheapest option (feels cheap). They don't want the most expensive option (feels wasteful).
They want the one in the middle. The one that is "just right."
Your job is to structure your packages so that the middle option is exactly what you want to sell.
Option 1: The Decoy (Anchor)
The "Basic" Package.
- Price: Low.
- Scope: Bare minimum.
- Purpose: To set a floor. "At minimum, this costs $2,000."
- Psychology: It makes the client feel safe that there is an "affordable" option, even if they don't pick it.
Option 2: The Target
The "Standard" Package.
- Price: Your ideal rate.
- Scope: Everything they actually need to succeed.
- Purpose: To be the obvious choice.
- Psychology: Compared to the Basic, it offers way more value for a small jump in price. "For just $1,000 more, I get SEO and copywriting? That's a deal."
Option 3: The Upsell
The "Premium" Package.
- Price: High (2x the Standard).
- Scope: The dream scenario. Everything + the kitchen sink.
- Purpose: To make the Standard package look reasonable.
- Psychology: "Whoa, $10,000 is a lot. $5,000 for the Standard seems very reasonable now."
Bonus: Sometimes rich clients just buy the Premium because they want the best. That is pure profit.
Building This in Manager List
Manager List's Packages feature is built for this.
- Create a Package called "Web Design - Core".
- Clone it to create "Web Design - Growth". Add the extra services.
- Clone it again to create "Web Design - Enterprise". Add the rush timeline and VIP support.
When you drag all three onto the canvas, the client sees them stacked. They can compare the lists. They can see the price difference.
You aren't "selling" them anymore. They are "shopping."
Conclusion
Never send a naked price. Always wrap it in context.
Give them a cheap option to reject, an expensive option to admire, and a middle option to buy.
Frequently Asked Questions
- What if they choose the cheapest option?
- Then you do the work for that price, but strictly limit the scope. No extras. If they want more later, charge for it. Often, clients start small to test you, then upgrade later.
- How much higher should the Premium price be?
- A good rule of thumb is 1.5x to 2x the Standard price. It needs to be high enough to anchor the middle, but not so high it looks like a joke.