Boost Sales by 21% By Pricing *Backwards*

Summary

Brain Driven Brands: Boost Sales by 21% By Pricing Backwards

Episode Release Date: November 19, 2024
Host: Sarah Levinger
Guest: Nate
Podcast Title: Brain Driven Brands
Episode Title: Boost Sales by 21% By Pricing Backwards

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Introduction to the Pricing Strategy

In this episode of Brain Driven Brands, host Sarah Levinger and her guest Nate delve into an innovative pricing strategy that has the potential to significantly boost sales for e-commerce brands. The core idea revolves around allowing customers to "Pick Their Own Price," a tactic that reportedly increased sales by 21.6% without altering the average price point.

Notable Quote:
Sarah: "In studies when brands allowed customers to pick their own price, it increased sales by 21.6%. Even though when you averaged all the prices that they chose, it was basically the same as the original core price."
[03:07]

Understanding the "Pick Your Own Price" Model

The "Pick Your Own Price" strategy empowers customers by giving them the freedom to choose how much they want to pay from a set of predefined options. For example, customers might be presented with pricing tiers like $5, $10, or $15 for a single product.

Notable Quote:
Sarah: "You give people freedom to choose how much they want to pay from a limited set of options. So do you want to pay $5, $10, or $15?"
[03:31]

How It Works

Despite offering multiple price points, the average price remains consistent with the original pricing. This approach leverages psychological factors to encourage customers to select higher price options, thereby increasing overall sales without decreasing the perceived value of the product.

Notable Quote:
Nate: "It is about price. Yes, yes. This is a weird one, too. I never thought of doing this, and I'm like, this is so smart."
[02:48]

Psychological Underpinnings

Social Context and Payment Choice

Sarah and Nate explore how social context influences purchasing decisions. The presence of multiple price options can lead customers to feel a social pressure, often discouraging them from choosing the lowest price to avoid feeling like they're undervaluing the product.

Notable Quote:
Sarah: "You can't pay five in front of the person who's getting that money."
[04:46]

Decoy Effect

The Decoy Effect plays a significant role in this pricing strategy. By introducing a middle-tier price option, brands can guide customers towards selecting that option, as it often appears to offer the best value compared to the lower and higher tiers.

Notable Quote:
Sarah: "Decoy effect basically means that if you have two prices at two different subgroups, if you add in a third, specifically in the middle tier, most people are going to purchase that middle tier price."
[14:09]

Price Anchoring

Price anchoring is another psychological principle discussed. By presenting multiple price points, customers anchor their perception of the product's value, often leading them to perceive higher-priced options as more valuable.

Implementation Strategies

Email Campaigns and Dynamic Testing

Sarah and Nate discuss how e-commerce brands can implement the "Pick Your Own Price" model through targeted email campaigns. By asking customers about their budget for specific occasions (e.g., Christmas gifts), brands can segment their audience and guide them to appropriate product tiers.

Notable Quote:
Nate: "We're 100% going to do some email campaigns that are like, tell us your budget for Christmas and we'll get you the highest value watch at each price point."
[22:26]

Testing and Optimization

The hosts emphasize the importance of testing different pricing strategies to understand customer preferences and price sensitivity. This includes experimenting with price ranges and analyzing how different segments respond to various pricing tiers.

Notable Quote:
Sarah: "It's going to become like our pricing segment... test your prices and test your titles of your products."
[17:20]

Case Studies and Previous Attempts

Nate shares his experiences with similar pricing strategies in past projects. In one instance, allowing customers to choose between saving money or donating to a charity led to mixed results. While some campaigns saw success, others did not perform as expected, highlighting the importance of context and execution.

Notable Quote:
Nate: "At the first rebrand, Donate 10 dominated the product though... At OG turned it into Save $50 or Donate $50. Everyone took the $50 savings for themselves."
[10:46]

Practical Advice and Recommendations

Tailoring to Your Brand

Sarah and Nate advise brands to tailor the "Pick Your Own Price" model to fit their unique product offerings and customer base. For instance, offering additional perks or free gifts for higher price tiers can incentivize customers to choose more expensive options.

Notable Quote:
Sarah: "If you can ask them and if you can segment people by budget or by household income... It's a huge principle."
[13:06]

Leveraging Consumer Insights

Understanding customer behavior and preferences is crucial. Brands should consider factors like the time of day, social context, and customer demographics when implementing dynamic pricing strategies to maximize effectiveness.

Notable Quote:
Sarah: "What time of the day were they running this particular promotion?... All of this comes into play when it comes to consumer behavior and how people actually purchase things."
[07:55]

Conclusions and Takeaways

The "Pick Your Own Price" strategy offers a powerful tool for e-commerce brands looking to boost sales and enhance customer satisfaction. By leveraging psychological principles such as social context, the decoy effect, and price anchoring, brands can optimize their pricing models to better align with customer preferences and maximize revenue.

Final Notable Quote:
Nate: "The most impactful thing you can do for your marketing is to test your prices."
[17:27]
Sarah: "If you can get... a good title, and really solid pricing psychology... you might not have to run a sale ever again."
[17:34]

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Key Insights

• Empower Customers: Allowing customers to choose their price can lead to increased sales without compromising the average price point.
• Psychological Factors: Understanding social context, the decoy effect, and price anchoring is essential for successful pricing strategies.
• Continuous Testing: Implementing and testing different pricing models through email campaigns and dynamic testing can help identify the most effective approach.
• Tailored Approaches: Brands should customize their pricing strategies based on their unique product offerings and customer demographics.

For more insights on advanced neuromarketing strategies and pricing psychology, stay tuned to Brain Driven Brands with Sarah Levinger.

Transcript

[A]

Um, hi, I'm Sarah. I clearly do intros better than Nate. This is Brain Driven Brands, where we use psychology to help D2C brands boost sales, cut costs, captivate the masses with ease. Don't you just love my canned, like, tagline that I don't know where I came up with it. It just happened and now I use it everywhere.

[B]

I liked it.

[A]

Hi, Nate.

[B]

Sounds good.

[A]

How are you?

[B]

What's up? I'm good. November 1st, sales are up. Life's good.

[A]

Hey. Oh, yeah, I'm so excited to hear about how Black Friday goes for you. We should probably do like a Black Friday debrief.

[B]

Yeah, if it goes well. If it doesn't go well, we won't mention it.

[A]

We just won't talk about it ever again. We are getting back to our normal cadence. We've had a few random episodes. I've been having a few other people on the podcast.

[B]

Yeah, no, they're good guys.

[A]

You know, we always come back. It's always just you and me. There's a couple episodes, though, that you were, like, ghosting me, and you were just like, hey, I can't be there. And I was like, okay, well, then cool. I'll just figure it out on my own.

[B]

Some of us have a full time job. Sorry. Some of us are actual practitioners.

[A]

Hey, rude. First of all, second of all, not true. I am absolutely practitioner of every single thing that I preach, so.

[B]

I know, I know.

[A]

We'll get that vibe. Also, it's fine. You had a lot going on. You bought a house and you moved, and then there was tree fell that on your house. And I mean, not on the house, but near the house. You had some stuff going on.

[B]

Yep.

[A]

Also, I'm just excited, really, to get back to our normal quiz style. You don't know what's coming.

[B]

Oh, let's go. It's one of those.

[A]

It is.

[B]

We haven't done one of these in a minute.

[A]

I know. That's why I was like, we got to get this one done. Okay, so today I. Again, Sarah's weird and I study a lot of things and I just can't help myself because I'm just like, why is that happening? And I need to know. I'm nosy is really what it is. So I found a study that talked about one specific. I guess you could again call it like a marketing tactic that increased sales by 21.6% for the same average price. This particular tactic.

[B]

So using price, increase sales by 20%.

[A]

Same average price, increase sales by 21.6%. What was the marketing.

[B]

Wait a second. You said same average price.

[A]

Same average price. Yes. Not exact same price. A little like when you average all the prices out. Yeah. Then it was basically the same as the one that the original price.

[B]

Is it some kind of bundle deal? Or is it some kind of price anchoring tool? Or you throw one at a much higher price?

[A]

Nope, nope, nope. Those are good. They're always good guesses. I'm like, we should test all of these. But no, it is not same average price.

[B]

Increase sales by 20%.

[A]

Yep.

[B]

It's about price, though. Like, it's a. It's a pricing strategy.

[A]

It is about price. Yes, yes. This is a weird one, too. I never thought of doing this, and I'm like, this is so smart. Now that I know this is the thing. Yep. Marketing tactic. Increased sales by 21.6%.

[B]

I don't know, but hurry up, because I want to implement it before Black Friday.

[A]

I don't know that. I don't know about this one. You. I don't know that. You. I don't know that. You're fast. Founders would appreciate this. So in studies when brands allowed customers to pick their own price, it increased sales by 21.6%. Even though when you averaged all the prices that they chose, it was basically the same as the original core price.

[B]

Pick their own price.

[A]

Pick their own price. Yeah.

[B]

What does that mean?

[A]

You give people freedom to choose how much they want to pay from a limited set of options. So do you Want to pay 1, 2, or 3? Do you want to pay $5, $10, or $15? It's very much similar to the SaaS model, but they did it for product.

[B]

Really?

[A]

Yeah. Pick your own price.

[B]

And each one was the same product, or did they build up the higher.

[A]

Same exact products. Yeah.

[B]

Okay, so why does anyone ever not choose the lower one?

[A]

Okay. And that's what I want to know. So psychologically, when I was going through this study, I was trying to figure out, like, how does this. How does this even work right now? Obviously, like, in this particular test, it was tested primarily in B2B. B2C. So this is focused on, like, SaaS products, but they did this for one specific brand that wasn't B2B, and it was for cookies. Like, just a bakery.

[B]

People are just paying more for cookies.

[A]

Hey. Yeah. So what I think is happening. Yeah. What I think is happening psychologically is if you come into a store with cookies in the storefront. Right. You're obviously there for one specific reason. And the cookies themselves, even though they're like, different, like, frostings and whatever else on them. They're all basically the same product. It's just a cookie. Right now, if you have three different prices in front of you, $5, $10, $15, you won't pay 5. Mostly because I think you've kind of feel bad.

[B]

Interesting.

[A]

You can't pay five in front of the person who's getting that money. Right? Yeah.

[B]

So do most people pick the middle tier and then there's the handful that are like, I'll pay 15 and support y'all, And Yes. Interesting. So now I'm like, when was this study?

[A]

I don't know. Let me look it up.

[B]

Because I wonder, like, with how modern tipping culture has gotten, I wonder if people just kind of look at it like that. I'm like, well, like, we're tipping on everything. Might as well pay an extra five bucks for cookies.

[A]

Yeah.

[B]

Because, like, for me, I think what's so crazy is, like, I always associate price with quality. So, like, we always talk about how, like, I'd rather a $30 glass of whiskey than a $5 glass of whiskey or $100 steak more than a 20.

[A]

Yes.

[B]

Dollar steak. But it's the same product.

[A]

Yes.

[B]

So that should take quality out of it.

[A]

And then if they tell you it's not, it's the same.

[B]

And then the only other thing I think about is, like, have you ever been to, like, a kid's lemonade stand? Yeah. I pay three times the price every.

[A]

Time because I feel bad. Like, there's.

[B]

Yeah, because it's like. Well, like, it's 10 bucks for a mediocre glass of lemonade, but, like, this kid's gonna be pumped that he just made ten bucks.

[A]

Exactly. So. And this is the weird part is social context comes heavily into play with purchases. You and I did, like, a huge episode on. We should be focused on when, not who. Right. When it comes to customer marketing. So go listen to that episode if you haven't, because it's fascinating stuff.

[B]

I've been thinking about that for a week, by the way. We need to talk about it more.

[A]

I'm like, who is not. Oh, my gosh.

[B]

No. When. You got to know when. Go listen to the episode. Whatever it's called. It's good.

[A]

Yeah. We should listen to when, not who. But I think. I think social context comes heavily into play here, because depending on which situation. Situation you are in, you're going to purchase very differently. Now, the sucky part is this is D2C, so it's all online in this particular Study. I think it was like a brick and mortar. So the control, effort, trade off in participative pricing.

[B]

Do you know what's so interesting?

[A]

2021. Yeah.

[B]

I would choose different options depending on what I was wearing that day and what I was driving that day.

[A]

Whoa. Because you were driving.

[B]

Because if I pull up in my nice big comfy luxury SUV and I'm wearing a nice pair of cowboy boots and a nice watch, I'm going to be like, I should pay the top tier. Because otherwise they're gonna be like, oh, like this kid shows up and buys five dollar cookies.

[A]

So true.

[B]

In his nice car. Like, what a dick. But if I pulled up in our other car, which was like a 2013 Ford Fiesta or something, and I'm wearing sweats and flip flops, I'm like, five bucks, let's go. Like, no one knows.

[A]

You know, I wonder if that comes into play with consumer choices. Like, okay, for instance, if you're sitting on your couch in your sweatpants after work and you're shopping online, that's it's, it has to have some sort of a change on like some sort of an influencer on your purchasing behavior than if you're shopping at work and your slacks at your like, work computer.

[B]

What? I'm in sweats in my work computer right now. But I understand the sound of it.

[A]

I'm just saying that, like, this is the interesting part about consumer behavior that I'm trying really hard to understand. Like, the more I study this, the more I'm like, this is fascinating, especially if we wrap it back into like this particular study. People obviously were literally just picking the price, whatever they felt like paying at the moment. But now I need to know, what time of the day were they running this particular promotion? Was it over lunch? Was it at snack time? Was it at right after breakfast? Like, when did they run it? Was it all day? Was it for multiple consecutive days? Was it Monday to Wednesday or was it Friday to Sunday? Because all of this comes into play when, when it comes to like consumer behavior and how people actually purchase things. But for this particular one, it kind of seems like pick your own price rather than a fixed price. Seems to help people just like make the decision that's best for them.

[B]

That's really interesting. Well, revenue, what's interesting about it? And I don't know if you could implement this in a way that makes sense for an E. Com store, but I've seen how powerful price testing is for us. And I think about all the time, some of our most Popular watches. Our most popular lower priced watches are 199.

[A]

Yeah.

[B]

And I wonder like, is there a bunch of people that would buy it at 150 that can't buy it at 199? And it's like if, if enough people that pushes them over the edge that we'll end up making more money even if we take the hit on margins.

[A]

Yeah.

[B]

And like I wonder in this study is just like it kind of lowered the floor. Like it lowered the barrier to entry. Like, hey, like everyone can afford a $5 cookie sometimes.

[A]

Yeah. Well, and that's where I'm like, if.

[B]

Somebody that can afford more, pay more.

[A]

I. Oh, this would be such an interesting task. I don't know how you would build this. We'd have to figure out like a lander that would have this capability. But is there a way that you can have somebody add to cart and if they go to abandoned cart, meaning like not just like they clicked off the page for a day, but like it's been a week and they still haven't purchased. Can you then go back and say, hey, check your cart. We have something for you. Like email wise, check your cart email, then have that go back in and say, we saw that you didn't buy it. 1 99. We're going to allow you to pick your price. What do you want to pay? It's interesting test that because I think you'd see a lot of conversions from that.

[B]

So we did something a few years ago. This is something I've only done twice at two different brands. It crushed for one, it completely flopped for the other. It was both were products that had a charitable. A charitable component to it. So we were going to donate a certain amount of proceeds back to the charity no matter what.

[A]

Okay.

[B]

And then we told people, hey, you can either use code save10 to save 10% or use code donate10, pay full price and we'll donate an extra 10% of your order. Oh, at the first, at the first rebrand, Donate 10 dominated the product though, was only like 50 bucks.

[A]

Okay.

[B]

We tried it at OG turned it into Save $50 or Donate $50. Everyone took the $50 savings for themselves. So now. Okay, wait, so it's a much higher price, like price point. Yep.

[A]

What was the product on the first one?

[B]

Bar wear a novelty baseball beer mug.

[A]

Interesting. So a giftable product.

[B]

Yep. Yeah, very giftable. Giftable and 50 bucks.

[A]

Oh, every.

[B]

And like the save 10 is only 5 bucks. So I think people were way more willing to be. Yeah, I'll give You an extra five bucks to know if it's going for a good cause. That obviously caps out at some point.

[A]

You also notice, too, the. The demographic groups change.

[B]

Yeah.

[A]

Like, your ability to give at lower price points is, like, a little bit higher than it is at higher price point. Because now I'm paying a lot of money, and I like, if I'm going to pay this much money, I don't know that I want to donate to somebody else at this current moment in time when I'm actually purchasing for B. Yep. Oh, there's so much psychology and all this. I can't even get over it. Okay, interesting. So now I want to know. I don't know that OG would be okay with testing a picture of price, but it would be so fascinating to run this test and see. Can we do a 199, a 209, and a 219 and see?

[B]

So we do those purchase. Oh, okay. So, like, actually ask people.

[A]

Yeah, Pick your own price.

[B]

It'd be interesting. I mean, now I want to do it.

[A]

I want to see the set. If you're listening to this podcast, go do this test and then come back and tell us how it works.

[B]

I think we would need to give a reason.

[A]

Yes. Oh, yeah.

[B]

Because, like, I think for us, we could tie it to, like, if you pay a higher tier, we'll plant X number of more trees than we do with every order. Or we'll donate to one of our charitable components. Because, yeah, like, at a 200 watch, maybe we can push people to spend an extra 20, but an extra 50 is a lot.

[A]

Well, and the only reason I say that is because we already talked about that your OG crowd isn't really sensitive to, like, giving during their. Their purchasing behavioral process. Right. So I don't know that I would do planting trees or discounting any or what's the other charitable. Yeah, I would honestly do like a. If you pay $10, $20 more, we'll throw in XYZ for you. So they're basically getting a free gift if they pay more. Now, in this particular study, that they didn't even do that.

[B]

Right.

[A]

They just said, which one do you want to pay? And tracked it from there.

[B]

Yeah, it kind of just becomes, like, upselling, but framing it differently and messaging it differently.

[A]

Yeah, it's a framing.

[B]

Do you know what this reminds me of a little bit? This is like, I'm. I. I think back, like, infomercials, like staying home from school sick, watching the prices. Right. And infomercials on all the day and There was always something at the end, like, and for an extra $10, you can just get this. And it's some like upsell thing.

[A]

Yeah.

[B]

But, yeah, I think the art of upsells has been lost entirely.

[A]

Yeah, I agree. And it's crazy powerful psychological. People don't do it correctly. I think it'd be also interesting basically, just to give people. This is going to be so weird, but to give people a slider on the actual page and have them pick the range of which they would pay, like a range of prices. Not even just a price, but just a range. So do you want to pay 100 to 200, 200 to 300 or 300 to 400? Obviously they're going to pick be based on decoy effect, which. Decoy effect basically means that if you have two prices at two different subgroups, if you add in a third, specifically in the middle tier, most people are going to purchase that middle tier price. Right. And the same for products. If you have two products and you add in a third one, people are usually going to pick whatever the middle of the road one is, just based upon how we actually make decisions. Right. This is a high tier. If there's a low tier, the middle tier is going to be probably the most chosen just because of value and understanding, price and things like that. So decoy effect. But in this particular instance, if you had. If you had a slider on there and it gave them a range of what they wanted to pay, then there's a couple things that could happen. One, you can test price sensitivity. What do people actually think this watch is worth? Not what, what do we want them to value it? What do they think it's worth? And then secondary to that, we can also understand a little bit more of. I don't know what you would call it, like pricing. I'm looking for the word. You can understand a little bit of this idea of like, how do people actually interact with the price before they actually set it right.

[B]

I've been really big on the concept of like personal price anchors for like the last year. I actually don't know if we've talked about this. I've tweeted about it. So I don't know how closely you follow me.

[A]

I don't read anything.

[B]

But like, that, to me, I think is so important because 200 to some people is no. Yeah, it's nothing. And 200 to a lot of people is a ton of money.

[A]

Yes, yes.

[B]

And like, the way we merchandise our site is like, well, we, you know, have the average of what the best products are. But there are people that come to our site that would certainly pay way more. And there are people that come to our site that are penny pinching a little bit.

[A]

Yeah, that's.

[B]

It's really interesting. You know, before, before we worked with you, we ran a lot of traffic to a quiz funnel. Cause that was the best way for us to convert people. Before we got messaging and content that actually related to our customers on an emotional level, we didn't do much of it any more. But thinking back to it, we did not ask them what price they wanted to pay.

[A]

Oh, interesting.

[B]

And it's kind of got me thinking now about, like, can we do this in a way where, like, it's not all the same product? Is it an email campaign that's like, hey, what's your budget for Christmas gifts? And if it's sub 200, click here. If it's up to 300, click here. If it's up to 500, click here?

[A]

Yeah.

[B]

And we can send them to different pages with different tiers and watches.

[A]

Oh my God, that'd be so smart. This goes down into like dynamic testing. And I know we talk, we've been talking a lot about price on this, on this, like, channel for a while. This is just going to become like our pricing segment.

[B]

And let me say, yeah, it's the most impactful thing you can do for your marketing is to test your prices.

[A]

It's massive. Your price. Test your prices and test your titles of your products. I need to do an episode on that.

[B]

Because we do. Because I've got some thoughts.

[A]

I'm just like, oh, but if you can get, if you can test those two things and really, like, hone in on what the best combination of those two things are, you may not have to run a sale ever again. You might just be able to work off of good product, good title, and really solid pricing psychology. So now I want to see you test this. I think it'd be fascinating. This goes down into choice architecture. How you offer the actual solution will drastically change how people interact with it. And most of the time, people are offering things based upon what they think the customer wants. I would so much rather you offer stuff based upon what they believe already because it's just, it's just so much easier to sell when you have enough knowledge about what your customers are actually thinking. Anyways, I digress. Anything else you want to add to this?

[B]

Because no, we're going to test the email campaign a hundred percent. That's like, what's your budget for what's your budget?

[A]

Yeah, because like I want to know now.

[B]

Yeah, we're not going to do the pick your price for the same watch thing. That's a whole thing. But like, I think that's such a great way. Like it happened the other day, someone tweeted at me and tweeted, hey, if you were to buy one bottle of whiskey for five grand, what would it be? I'm shopping for like a groomsman gift or. Yeah, something. And I was like, first of all, there's no bottles of whiskey that are worth five grand. So don't do that at all.

[A]

Don't do it.

[B]

But like it's, you have consumers like that. Like you have consumers that are willing to pay way more than what your prices are listed for. So I'm a big fan of like develop products at a higher price point. Always, like go into a product dev meeting with the goal of like, we're going to create something that is twice as expensive as our current top priced thing. But then also, yeah, if you can ask them and if you can segment people by budget or by household income or whatever. Like, especially for us, we're like, we're a brand. We're like, you can get a watch from us for 150 or 800 bucks. That's a huge gap. And we're so often promoting our three and four hundred dollar watches because that's what's most popular.

[A]

Losing my mind right now.

[B]

And we don't promote the 801.

[A]

Have you ever done a test to see without prices on them, which watch people think is the most quality, highest quality watch?

[B]

That'd be interesting.

[A]

Yeah.

[B]

Because I bet they wouldn't pick what it actually is.

[A]

That's what I'm saying is like, holy. If you go through and you just put like a picture roster up, just like a lineup of all of your products and send it out to your like highest, even out of your highest value customer. I would send it to your new customers, people that don't know you at all and just say which of these watches probably cost the most and see what they think. Because you might be pricing based upon your own subjective. This one costs us a lot. The cogs are high, so we have to price it high. You might find that your $150 watch is actually valued at $300.

[B]

Yeah. Gosh, that's really interesting. I'm like almost scared to ask people that because I'm sure there's going to be examples on both ends of it where there's a watch that does not Cost us a lot that people think is super high value. And then there's going to be a watch that cost us a ton. Honestly, it's this one for sure. This watch costs us more than any other watch on our site. And I bet people would be, yeah, it's nice.

[A]

But if that's the case though, if that's the case, then you can, you guys can basically go through and create some sort of an average, average pricing table where we can increase the prices of our lower cost stuff and decrease the prices a little bit of our higher end things and basically make it a wash across. If you really want to do that.

[B]

Margins probably net the same or even get better.

[A]

Or even get better. Yes. Because at this point now you're making your low tier stuff, you're increasing the price of your low tier stuff, which is bumping up the decoy effect. You're increasing the average order value just by increasing the price of your lowest priced product.

[B]

This gets into the territory of like the movie theater popcorn strategy of like the small is whatever, six bucks, the medium's 9:50 and the large is 10. So it's like everyone's like, fuck the medium. We're getting the large for sure.

[A]

Getting the large. Even though they never eat all of it, they always leave it.

[B]

No, we'll throw half away and that'll be fine.

[A]

Okay. I know we've went into a little bit of decoy effect on this one, but overall I think it'd be very interesting for some of these brands to test is like pick your own price idea. And if not, if you're not going to test that, which I understand it's like a big ask. If you're not going to test that, at least test what your, what your customer base thinks about your products from a pricing standpoint. And then if you find one on the lower tier that could have an increase in price, bump that price up because it'll, it'll have a massive effect on the rest of the product line.

[B]

Yeah, we're 100% going to do some email campaigns that are like, tell us your budget for Christmas and we'll get you the highest value watch at each price point.

[A]

Smart.

[B]

And I bet we're going to get a lot of people that choose the higher tier that usually wouldn't because we're promoting our averages of what our best products are. Oh, I'm excited. I think the principle, I know the testing, the pricing is hard, but the principle of like let people kind of guide you on what they want to spend. I think that's huge.

[A]

Yeah.

[B]

Oh, we'll wrap it up. Sorry. Going long. I'm excited about price on my second Red Bull today.

[A]

Where can people find you if they want to come follow what you're testing?

[B]

I'll either be at a whiskey distillery or a deer stand or a golf course for the next few months.

[A]

Gonna have to go out there and search people.

[B]

Yep. Or you can just listen to the Tactical and Practical podcast. We get real tactical and even more practical than we do on. On this pod, so check it out.

[A]

That's hilarious. Okay, great. Great to have you on the podcast today. If you want to follow me, I'm Sarah Levenger. Anywhere you consume content. This was a great episode. I hope all of you are getting some good value out of this. Go, like, follow, share. And Scotty always tries to remind me that I need to get more reviews.

[B]

So, yeah, I want to say one thing, too. More of you guys have been tweeting at us about, like, the show and stuff. We love that one. It's great for the ego. Two helps us actually have better conversations on future episodes. So please let us know what you think.

[A]

I know. And Dara, the other week was like, I listen to Sarah and Nate, like, in the mornings every morning. I was like, yeah.

[B]

Also, it's very nice to know people are actually listening because we record this alone in our home offices. But, you know, to the. I mean, we. Not like steel horns, but there's a lot of you guys, and it's cool to feel like you guys are in my office right now. So thanks for listening.

[A]

Wow. That's so funny. Thank you for listening.

[B]

The Brain Driven Brands podcast is part of the Learn and Laugh series on the Quickfire Podcast Network.