Ultimate Guide to Increase Conversion Rate with Pricing Tables
Pricing tables are essentially the conversion engine of a business. A business practically makes money if it can "win over" the user, meaning it convinces the user to subscribe to one of the plans. So it's advisable to do it right.
JbyJordi Espinosaon
Pricing tables are essentially the conversion engine of a business. A business practically makes money if it can "win over" the user, meaning it convinces the user to subscribe to one of the plans. So it's advisable to do it right.
And here we enter the perennial dilemma, whether to simply design or create a high-converting design.
In today's post, I will show you how to maximize the potential of pricing tables.
With a few simple design changes, you can dramatically increase your revenue.
Let's start from the beginning.
Why are pricing tables placed at the end? Well, the answer is quite logical: when we want to buy something, we first need to understand what it is that we want to buy. Therefore, we will first introduce you to the storytelling to convince you that it's a good idea, and then we'll show you the price.
In simple terms, first, we tell you what it is, and then we tell you how much it costs. If I show it the other way around and say, "this costs X dollars," you might leave the page and say, "no, it's premium."
And before buying anything, you have to inform yourself about what it's all about, right?
Having said that, let's delve into the details:
Anchoring Effect
One of the key principles to consider when designing pricing tables is the anchoring effect.
This cognitive bias suggests that people tend to rely heavily on the first piece of information they encounter.
By placing your desired pricing option as the first and most prominent choice, you can influence users' perception of value and guide them towards a desired outcome.
When we design pricing tables, we normally put the lowest price on the left, and the highest price on the right.
By doing these, we make users understand that the offer on the left side is simply the default sorting option.
And this is quite interesting; we associate the first one with the default option.
So what happens?
Psychologically, when you first see the lowest price first, the other offers will seem less affordable -> Not interested.
If I show the highest price first, the other options will be perceived as more reasonable in relation to value/price.
Design a king plan
Sometimes, companies intentionally set the highest plan as ridiculously higher than the other plans so that the other plans seem to be way more affordable.
They design these plans with the understanding that nobody will get them.
Visual Hierarchy
Creating a clear visual hierarchy within your pricing table is essential for guiding users' attention. Use visual cues such as color, size, and typography to highlight the most important elements, such as your recommended package or the most popular plan. By directing users' focus to these key areas, you can increase the likelihood of conversion.
Some play with:
Text sizes
Highlighted colors
Different icons
In fact, as you can see in the image, some even adapt the color of each pricing table.
Social Proof
Including social proof elements in your pricing table can significantly boost user confidence and trust. Consider adding testimonials, reviews, or client logos to showcase the positive experiences of your existing customers. This can create a sense of trustworthiness and credibility, ultimately increasing conversion rates.
Something that must be taken into account is that users find it difficult to make decisions. The more options there are, the slower the decision-making process is, and the less clear the table is, the more problems arise. However, if we create a table that is simple, easy to understand, and also use faces of recognized individuals, it will be easy to guide the user to make that decision. We must help users make decisions by saying, "if this person I follow has bought it, then it's worth it."
Simplified Pricing Options
In order to avoid overwhelming users, it is crucial to keep your pricing options simple and easy to understand. Too many choices can lead to decision paralysis and potential drop-offs. Presenting a limited number of well-defined packages or plans can help users make a clear and confident decision, ultimately improving conversion rates.
By leveraging the psychology of pricing tables in UX/UI design, you can optimize your website's conversion rates and maximize revenue. Consider implementing these tricks and techniques to create compelling and effective pricing tables that drive user engagement and conversions.
Remember, pricing tables are not just a functional element; they are a powerful tool to influence user behavior and increase revenue.
Strategy
What's your intention?
In my case, I wanted to give one of my premium curated products for free. So, I wanted to be very clear with my audience that the offer was free.
Instead of using 0,00€, I simply mentioned "free" literally.
If my intention is to offer a free product, I'll place the free option from left to right. So the user will firstly see "free", and then the premium option "can skip if I have it for free".
If my intention is to offer a premium product, I'll place the premium option first. Instead of mentioning "free", I'll use "0,00€".
Influencer plans
This is often done by cinemas. They offer 3 plans:
Offer 1: €3
Offer 2: €8
Offer 3: "Go bigger with just €1 more" - €9
They know that nobody will take the €8 plan; it's just a stepping stone to influence users to get the Offer 3.
They know that nobody will choose the medium option. And this design is precisely for that purpose, so that nobody uses it, and they seek the "large" option.
Help users make a decision
Instead of using empty words like:
Basic -> What do you mean?
Premium -> Why should I choose this?
Use keywords that resonate with them:
Limited
Creator plan
Agency plan
Like everything in this discipline, you should take everything with a grain of salt and adapt it according to each context and situation. But it never hurts to know the fundamentals and some tricks to enhance the experience (or conversion).
Key Takeaways to consider
Users find it difficult to make decisions, so let's help them by reducing options and using social proof elements to encourage purchases. Let's be clear and honest; if we sense any deception, we won't buy.
As Alex Hormozi says, adjust the price to make a "grandslam offer"; the product's value must be greater than the perceived value in the price. If the user sees that the value they'll get from buying the product is infinitely greater than the price, they'll buy it.
Avoid dark patterns, as mentioned before; if the user senses deception, they'll close the page.
Place testimonials first, then pricing. They'll read reviews first to see what people think before considering the price.
Put FAQs right after pricing so they can quickly address any doubts.
Offer an original price, then a crossed-out price. This creates a sense of urgency on the user, as the high original value makes the perceived value of the product increase radically, and then they see it's discounted, making them think, "this awesome thing is now worth much less."
Add a time limitation to create urgency in purchases. If a user has all the time in the world to decide, they never will. If time is limited, they'll take less time to think it over.
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And here we enter the perennial dilemma, whether to simply design or create a high-converting design.
In today's post, I will show you how to maximize the potential of pricing tables.
With a few simple design changes, you can dramatically increase your revenue.
Let's start from the beginning.
Why are pricing tables placed at the end? Well, the answer is quite logical: when we want to buy something, we first need to understand what it is that we want to buy. Therefore, we will first introduce you to the storytelling to convince you that it's a good idea, and then we'll show you the price.
In simple terms, first, we tell you what it is, and then we tell you how much it costs. If I show it the other way around and say, "this costs X dollars," you might leave the page and say, "no, it's premium."
And before buying anything, you have to inform yourself about what it's all about, right?
Having said that, let's delve into the details:
Anchoring Effect
One of the key principles to consider when designing pricing tables is the anchoring effect.
This cognitive bias suggests that people tend to rely heavily on the first piece of information they encounter.
By placing your desired pricing option as the first and most prominent choice, you can influence users' perception of value and guide them towards a desired outcome.
When we design pricing tables, we normally put the lowest price on the left, and the highest price on the right.
By doing these, we make users understand that the offer on the left side is simply the default sorting option.
And this is quite interesting; we associate the first one with the default option.
So what happens?
Design a king plan
Sometimes, companies intentionally set the highest plan as ridiculously higher than the other plans so that the other plans seem to be way more affordable.
They design these plans with the understanding that nobody will get them.
Visual Hierarchy
Creating a clear visual hierarchy within your pricing table is essential for guiding users' attention. Use visual cues such as color, size, and typography to highlight the most important elements, such as your recommended package or the most popular plan. By directing users' focus to these key areas, you can increase the likelihood of conversion.
Some play with:
In fact, as you can see in the image, some even adapt the color of each pricing table.
Social Proof
Including social proof elements in your pricing table can significantly boost user confidence and trust. Consider adding testimonials, reviews, or client logos to showcase the positive experiences of your existing customers. This can create a sense of trustworthiness and credibility, ultimately increasing conversion rates.
Something that must be taken into account is that users find it difficult to make decisions. The more options there are, the slower the decision-making process is, and the less clear the table is, the more problems arise. However, if we create a table that is simple, easy to understand, and also use faces of recognized individuals, it will be easy to guide the user to make that decision. We must help users make decisions by saying, "if this person I follow has bought it, then it's worth it."
Simplified Pricing Options
In order to avoid overwhelming users, it is crucial to keep your pricing options simple and easy to understand. Too many choices can lead to decision paralysis and potential drop-offs. Presenting a limited number of well-defined packages or plans can help users make a clear and confident decision, ultimately improving conversion rates.
By leveraging the psychology of pricing tables in UX/UI design, you can optimize your website's conversion rates and maximize revenue. Consider implementing these tricks and techniques to create compelling and effective pricing tables that drive user engagement and conversions.
Remember, pricing tables are not just a functional element; they are a powerful tool to influence user behavior and increase revenue.
Strategy
What's your intention?
In my case, I wanted to give one of my premium curated products for free. So, I wanted to be very clear with my audience that the offer was free.
Instead of using 0,00€, I simply mentioned "free" literally.
If my intention is to offer a free product, I'll place the free option from left to right. So the user will firstly see "free", and then the premium option "can skip if I have it for free".
If my intention is to offer a premium product, I'll place the premium option first. Instead of mentioning "free", I'll use "0,00€".
Influencer plans
This is often done by cinemas. They offer 3 plans:
They know that nobody will take the €8 plan; it's just a stepping stone to influence users to get the Offer 3.
They know that nobody will choose the medium option. And this design is precisely for that purpose, so that nobody uses it, and they seek the "large" option.
Help users make a decision
Instead of using empty words like:
Use keywords that resonate with them:
Like everything in this discipline, you should take everything with a grain of salt and adapt it according to each context and situation. But it never hurts to know the fundamentals and some tricks to enhance the experience (or conversion).
Key Takeaways to consider