5 Simple Ways to Improve Your Pricing

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In the 5 years I’ve run Nudge, I’ve interviewed dozens of experts on pricing. These aren’t run-of-the-mill LinkedIn gurus. They’re peer-reviewed researchers from some of the world’s most prestigious universities. In this blog, I reveal their top five pricing tips.

5 Secrets About Pricing

Recently on my podcast Nudge, a guest told me a secret about pricing.

The truth,” Melina Palmer said, “is that pricing isn’t really about the price.” Instead, it’s everything around the price. The framing, the offer, the brand. That’s what makes people buy.

This insight has been backed up by dozens of other behavioural scientists who I’ve interviewed for my show, and in hundreds of peer-reviewed papers I’ve read on the topic.

Simply put, offering a lower price isn’t the smartest way to improve your sales. Instead there are five other tips I’d suggest you try first.

1. Break your price down.

When showing your price, try to break it down into smaller increments.

Richard Shotton, in his book the Choice Factory, ran tests with customers looking to purchase a car. Some potential buyers saw the cost outright ($40,000). Some saw the cost per day over the course of several years ($11 a day).

Those who saw the price broken down were 4x more likely to rate the price as a good deal and 50% more likely to buy.

This doesn’t only work for expensive products like cars.

John Gourville in 2003 published a paper that found that cheaper items — like mobile phone contracts — were seen as more affordable when framed in daily terms. The contract was seen as better value when shown as $1 per day — rather than $30 a month.

So, when setting your price, consider showing the price per day equivalent to customers.

2. Avoid round numbers.

When setting the price, don’t opt for a round number.

Michael Santos, a psychologist at the University of California, demonstrated why in his 1994 study. For the study, the researchers dressed up as street beggars and requested donations from pedestrians.

Some asked for rounded amounts, like a dollar or a quarter. Others asked for precise amounts like $1.02 or 35 cents.

Incredibly, those that asked for the specific amounts received 60% more donations. 60% more, even when they asked for more than the rounded amount. Asking for 35 cents gets more donations than simply asking for a quarter.

The specificity makes the request seem more genuine — encouraging people to donate more.

This has real world implications.

A 2008 study of 25,000 house sales in Florida found that homes that listed their sale price as a specific price sold for closer to their asking price.

For example, listing a house at $249,749 — rather than a rounded price of $250,000 — would increase the end-sale price.

Being precise increases the appeal of your price. So ditch rounded prices.

3. Add a premium decoy.

If you want to increase your sales, you should create a premium option that you don’t expect customers to buy. It sounds irrational — but it works.

It’s known as decoy pricing.

Dan Ariely, in his book Predictably Irrational, showed how The Economist Magazine used this so effectively in the early 2000s.

Originally, The Economist offered two subscriptions.

Web-only subscription for $59
Print & web subscription for $125

Later, they added a decoy option. A print-only subscription that costs as much as the print & web subscription.

Adding the decoy changed consumer behavior. Previously, the majority bought the $59 web-only subscription. But after seeing the decoy price, the majority picked the $125 print and web subscription.

Adding an expensive premium decoy makes your standard option seem more appealing. It anchors the buyer to a higher price point and makes the original offer look better value.

Researchers in 2018 found the effect still holds true today. Experiments at the National Academies Press showed that introducing a hardcover priced between 160% and 790% more expensive than the paperback increased paperback sales by 16.2%.

So if possible, introduce a higher-priced decoy into your pricing mix.

4. Enforce a purchase limit.

Enforcing a purchase limit sounds a little irrational. Surely to increase sales you shouldn’t cap how much a customer can buy?

But some smart marketers would disagree.

One study from the 2011 Journal of Marketing Research looked at soup sales at American grocery stores. Half the stores showed advertising banners encouraging customers to buy soup — these were standard adverts that read:

“Buy soup today”

The other stores had the same adverts, but with one twist — a disclaimer next to the ad which said:

“Buy soup today: limited to 12 cans of soup per customer.”

Nobody was buying 12 cans of soup in the first place, so you might think this message is fairly pointless, but it wasn’t.

The limitation made the product seem scarce — and it increased sales by 112%.

Capping how much a customer can purchase can increase sales — so consider adding some limits to your product availability.

5. Don’t say “it’s free.”

Often, to increase the appeal of a price, marketers throw in a bonus product “for free.” We assume this will work well. After all, who doesn’t like free stuff? But it’s not the smartest way to promote your product.

This insight comes from a 2020 study by two Korean researchers Koo and Suk. They ran online experiments in the US, UK, Canada and South Korea. Hundreds of participants would see two different types of promotions.

Some would see that the bonus product or service was “free.”

Other times the promotion would state it’s $0.”

Saying it’s $0 appears to work best. In the 10 experiments, saying $0 was more effective as a promotion than saying it’s free.

Why? Well, $0 seems a bit more salient, it stands out. It’s a simple, yet effective way to improve any promotion.

To create a great price you need to think beyond the number. Offering the cheapest option won’t always win. And often, adding some psychology to your price can be better than trimming the cost.

This blog is part of Phill Agnew’s Marketing Cheat Sheet series where he reveals the scientifically proven tips to help you improve your marketing. To learn more, listen to his podcast Nudge, a proud member of the HubSpot Podcast Network.

How to Answer ‘What Makes You Unique?’ & Stand Out in Your Next Interview

Whenever I get asked ‘What makes you unique?’ or ‘What makes you stand out from other candidates?’ in an interview, I use it as the perfect opportunity to explain why I’m the best person for the role.

And I like to get specific. I’ve found that interviewers respond positively when I skip the generics and tie my answer back to what I have to offer based on my individual background.

Your answer could ultimately make or break your interview, so it’s important to really nail it. I’ll walk you through how to answer this question the right way.

Table of Contents

Subtle Ways Interviewers Ask ‘What makes you unique?’
Why do interviewers ask ‘What sets you apart from other candidates?’
How to Answer “What makes you unique?”
7 Sample Answers to “What Makes You Unique?” and Why They Work
Prepare Beyond ‘What Makes You Unique?’

Subtle Ways Interviewers Ask ‘What makes you unique?’

There are many ways that interviewers try to tease out what makes you a stand-out candidate.

Here are some of the common questions that are actually ‘What makes you unique?’ in disguise:

What makes you stand out from other candidates?
What sets you apart from other candidates?
What can you bring to this role that’s different from other candidates?
What makes you a valuable candidate for this role?
Why are you the best candidate for this role?
Why should I choose you over other candidates?

No matter how this question manifests itself during your interview, the overarching goal remains the same.

Why do interviewers ask ‘What sets you apart from other candidates?’

The interviewer is asking you this question to give you an opportunity to showcase your value.

They want to see that you’ve done thorough research about the company and the position. And they want you to connect your skills and experience back to the role you’re interviewing for.

For example, let’s say I’m trying to land a social media role, and I notice that the company could be doing a better job on TikTok.

I can use this as an opportunity to:

Show that I’ve done my homework — I’m already familiar with the company’s social media presence and the platforms where they’re currently active (i.e., TikTok).
Highlight relevant skills — I have several years of experience managing and growing TikTok accounts, so I’ll be sure to mention that.
Provide a light recommendation — I’ll share how my skills and experience allows me to identify and implement that recommendation.

Think about it like this: If you can show the interviewer that you can help the company meet their goals (and that you know what their goals are in the first place), that’s one great way to set yourself apart from the rest.

Plus, it becomes clear to the interviewer that you’ve taken the time to prepare if you can provide specific examples related to the role.

These are all reasons why this is such a popular interview question — so come ready, and don’t be afraid to humble brag about yourself a little.

1. Mention skills listed in the job description.

This is one of the best ways to show the interviewer that you’ve done your research. Also, the job description is basically like your cheat sheet. Use it as a guide so you know exactly which skills to highlight throughout the interview.

My recommendation: Refer back to the job description but don’t recite it word for word. Use it in context to explain how your skillset aligns with the expectations for the role.

2. Provide specific examples from your background.

This is another smart way you can use the job description to your advantage. Reference prior accomplishments or results from past roles that relate to the position you’re interviewing for.

My recommendation: Focus on examples that tie back to the skills required for the position, and always quantify success where possible.

Using our social media example, saying ‘I ran a social media campaign which resulted in a 120% increase in traffic to our website’ is a lot more impactful than ‘I have experience running social media campaigns.’

3. Avoid generic phrases like “I’m a hard worker.”

Remember, this is a very standard interview question, so that means every candidate is likely being asked this question.

Make your answer compelling. Instead of saying you’re a ‘hard worker,’ give specific examples about the hard work you’ve accomplished related to the role.

My recommendation: Try to avoid the common buzzwords and instead replace those with real descriptions of your past work.

For example, you and every other candidate for a social media position probably consider yourselves to be “social media savvy.” 

Instead, make the case to prove that you are actually savvier than the competition based on your unique background.

4. Include key personality traits that will allow you to deliver results.

Someone else might have similar skills as you, but your personality is one of a kind. 

Being ‘social media savvy’ is one thing. But if you’re social media savvy and a tenacious person who is able to think quickly on your feet, that’s an asset.

Highlight the traits that have proven value in helping you grow as a professional.

My recommendation: You want to know one of my favorite ways to convince interviewers that I can deliver the results they’re looking for? Tell them how I’ve found similar success in the past and how my individuality supported that.

5. Tell the interviewer how your unique skills will help the company succeed.

This closely relates back to Tip #3. 

Don’t just talk about generic skills that most candidates have — always tie your skills back to specific projects you’ve worked on.

Your background is what makes you unique. There’s no one person that has the exact experience, skills, and traits that you do. Use that to your advantage.

My recommendation: You may not know the company’s internal goals, but you should always try to connect your skills back to their mission and values when possible.

7 Sample Answers to “What Makes You Unique?” and Why They Work

1. “I am a very good communicator and find it’s easy for me to relate to other people.”

Consider mentioning a personality trait you feel would be a good fit for the business. After reading the job description, make a list of attributes that could make you an exceptional candidate.

Additionally, including a personality trait in your answer allows you to display how you’re a good fit for a role in which you have little prior experience.

For instance, if you’re applying for a position as a team leader, it’s critical that you demonstrate strong communication skills and an ability to connect with a diverse group of people. 

If you tell the interviewer, “I am a very good communicator and find it’s easy for me to relate to other people”, you’re able to match your personality to components of a successful leader.

Why this works: Effective communication is a critical trait to emphasize in interviews. If you consider how 86% of employees cite lack of collaboration  as a main component of workplace failures, you can begin to appreciate why.

2. “I really enjoy learning new things and am constantly seeking out new learning opportunities.”

By mentioning your passion for learning new things, you’re demonstrating you’re growth-focused and unafraid of challenges.

Additionally, answering the question in this way allows you to remind the interviewer why you’re uniquely qualified for the role. 

Why this works: While other candidates might have more prior experience in the industry, you’re proving your desire to exceed expectations of the job quickly.

3. “My prior experience in customer service has provided me with unique technical skills that I can apply to this role.”

If you have prior experience in a role vastly different from the one for which you’re applying, you might use this as an opportunity to explain how your background uniquely qualifies you. 

It’s critical, however, that you provide specific examples of how your prior experience has provided you with certain transferable skills.

For instance, you might say the following:

“My prior experience in customer service provided me with an extensive knowledge base for how our product works. As a marketer, I will be able to use this knowledge to ensure we’re meeting our customers’ needs.”

It’s also important to highlight: Previous job experience has declined in importance when it comes to recruiters evaluating candidates. In fact, over the last few years, that number has dropped from 92% to 62%

So it’s okay if you feel your prior work experience doesn’t perfectly align with the role for which you’re applying — as long as you can explain how your skills will help you succeed. 

Why this works: With an answer like this one, you’re able to alleviate concerns the interviewer might have with your lack of experience in the field.

4. “Working at a startup gave me an opportunity to understand the ins-and-outs of the industry, and to take on tasks I might not have at a larger company. I think this experience gives me a slight edge over other applicants.”

Similar to the answer above, this answer is a good one if you’re attempting to switch industries. 

Consider how your background has allowed you to gain unique skills that others, who followed a more linear career trajectory, might not have. 

For instance, if you previously worked at a small startup and now you want to transfer to a large corporation, it’s important you mention how those skills will make you successful in this new role.

Why this works: If you think your prior experience could deter interviewers from seeing you as exceptionally qualified, this is an optimal chance to prove them wrong.

5. “I’m not afraid of failure. In fact, I think it is an essential part of the experimental process that gets you to success. For example … “

This answer shows your interviewer that you’re not afraid to take risks.

Of course, you’ll only want to say this if you have a positive example to reinforce the importance of failure in the workplace.

You don’t want to sound like you make mistakes all the time, but you’ll stand out if you mention how you turned a failure into a success.

For instance, you might say, “I’m not afraid of failure. In my last role, we tried to streamline our SEO process and, along the way, found we’d accidentally decreased traffic to our site. 

However, this initial failure allowed me to see the errors in our previous procedure. My team and I came up with a more successful strategy to avoid these mistakes in the future, and ended up increasing traffic by 20%.”

Why this works: With this answer, you’re showing you’re capable of remaining flexible and open-minded when something doesn’t work right away, and you know how to take failures and use them as learning opportunities.

6. “When solving problems, I apply both logic and emotional aspects in equal proportion. For instance, I’m trained in SEO and understand how to use analytics to ensure a marketing campaign is successful, but I also majored in design and know how to apply creativity to a project as well.”

If you’re stuck on deciding how to demonstrate your unique qualifications, start by thinking about how other people approach problems at your company, and how you differ.

For instance, most people are either logical and use analytics to solve problems, or emotional and use creativity. It’s rare to find someone who is both. 

Why this works: Most people focus on highlighting one skill per question in an interview. If you’re able to demonstrate that you’re comfortable combining two unique skills, it’s an impressive ability you should highlight.

7. “I’m exceptionally organized, and at my last company, I was able to apply this skill to improve our process and increase ROI by 33%.”

Remember, when your interviewer asks “what makes you unique”, they’re really wondering “how will you help our company?” 

At the end of the day, it’s critical you tie your answer back to how you will solve problems for the company. 

48% of recruiters say improving quality of hire is a top priority — so you’ll want to ensure your answer highlights how you will excel in the role for the long haul.

Consider a personality trait or skill set that helped your last company achieve results. If the results are quantitative, make sure you have the specific numbers to support your claim.

However, it’s also appropriate to share qualitative results, such as, “my organizational skills led my manager to trusting me with a major project within the first two months in my role.”

Why this works: Ultimately, providing examples shows the interviewer you’re results-driven, and aren’t just saying generic phrases to answer their question.

For even more inspiration on how to answer this question effectively, check out the video below.

Prepare Beyond ‘What Makes You Unique?’

The age-old “What makes you stand out from other candidates” question is one of many common questions that interviewers love, so it’s important to prep accordingly.

HubSpot’s comprehensive interview guide to help you tackle over 50 different interview questions like a pro, including questions related to:

Who you are and what skills you bring to the role
How you respond to challenges and conflict
How you’ll fit into or add to the company culture
Your professional goals and desired career trajectory

Download it for free here.

Stand Out in the Crowd

Essentially, ‘What makes you unique’ really means, ‘What makes you an exceptionally good fit for this role?’ Come prepared, get specific, and use examples to prove that you’re the best option in the candidate pool.

Boost Your Revenue: Amy Porterfield’s Tips for Adding a Digital Course to Your Business

Welcome to Creator Columns, where we bring expert HubSpot Creator voices to the Blogs that inspire and help you grow better.

Digital courses can be a game-changer for your bottom line, whether you’ve been in business for ten years or ten days.

But if you’re like many of the folks I work with, you might be wondering where to start when adding a digital course to your business. My name is Amy, and I coach entrepreneurs on how to use smart marketing strategies to grow their businesses. One of my specialties is creating digital courses — it’s something I’ve done (to the tune of $100 million) — and it’s something I love helping others do too.

Why add a digital course to your business?

Before we get into the how, let’s talk about the why. Digital courses offer some compelling advantages:

Scalability: Once you’ve created your digital course, you can sell it over and over again. It’s like having a 24/7 cash machine. This passive income stream can offer financial stability and room for your business to grow.
Reach and Impact: Digital courses break down geographical barriers, allowing you to reach a broader audience. This accessibility makes it easier for people who might not have the means to engage with you in person or through traditional services.
Become Known as the Expert: Creating a digital course allows you to maintain control over your content and brand. It can set you up as the go-to expert in your industry. You can customize the learning experience to align with your business’s identity, ensuring that it reflects your values and meets your audience’s needs.

Creating a digital course is what skyrocketed my business to new heights, has allowed me to work from anywhere and create a business that I absolutely love, 100% on my terms. I even founded Digital Course Academy so that folks spanning industries and backgrounds can find success with online course creation too.

What types of businesses are best for digital courses?

The beauty of digital courses is that they can be seamlessly integrated into almost any business model, regardless of the industry or niche.

Your knowledge and expertise can literally be transformed into a structured learning experience that’s accessible to anyone interested in your offer.

And when it comes to the digital course topic or area of interest, I’ve seen everything under the sun, from courses on urban beekeeping to speed-reading sheet music.

So, let’s talk through four approaches to adding a digital course to your existing business, along with the three most effective types of digital courses.

4 Strategies for Adding a Digital Course to Your Business

1. Coaches and Consultants

If you’re a one-on-one coach (e.g., a health or life coach), or a consultant (e.g., a stylist or social media consultant), adding a digital course to your business is a no-brainer because you’ve probably already created a lot of your course content.

Here’s how it works:

Take your proven roadmap or step-by-step client process and turn it into a digital course.
Offer your course to those who might not be able to afford your one-on-one services or prefer to work through your content on their own. You could also make this a prerequisite before working with you at a premium price.

Offering a digital course with only a handful of one-on-one coaching or consulting spots also allows you to work with best-fit clients.

2. Membership Sites

If you run a membership site, adding a digital course is a great way to diversify your content and make some extra cash.

While memberships typically offer ongoing resources, courses can dive into specific topics in greater detail, offering members a more comprehensive learning experience.

Consider these two approaches:

Front-End Membership: Offer a low-price membership experience to build trust and prime your audience first before offering your digital course as an upsell. Create a course related to the central theme of your membership, but offer a different angle, more in-depth guidance, and a supportive community.
Back-End Membership: Offer an exclusive membership to students who have completed your digital course. The key is to keep your back-end membership about supporting people in the implementation of what they’ve already learned from you — not about continuously teaching more.

Adding a digital course to your membership business is a wonderful way to keep growing with your students. It also positions your digital course as the gateway to your other offerings.

3. Service Providers

If you’re a business owner providing a service, like graphic design or dog training, leverage your expertise with a digital course. Here’s how:

Take your know-how and your roadmap (i.e., expertise) and turn that into a digital course.
Continue offering your services, and provide a course as an up-leveling option.

The benefit is that, just like the coach or consultant, you’re able to expand your reach and impact.

And don’t worry, you don’t have to give up your practice as it is. If you love working with customers, keep meeting with them. There will always be people who would rather pay for the convenience of having someone else do the work.

4. Lead with Your Digital Course

If you want your digital course to be your primary revenue source, here are some important guidelines to follow:

Consistently create content that is aligned with your digital course — even when you’re not actively launching.
Use content to attract and nurture your Ideal Customer Avatar (ICA), keeping your course featured prominently.

Digital Course Academy is my signature course and the primary revenue generator for my business. I focus on creating valuable content and nurturing my digital course audience year-round.

What type of digital course is right for your audience?

Now that you know how to add a digital course to your business, let’s consider the type of course that suits your business best. There are three primary types of digital courses:

1. Starter Course

This is a course centered around helping your students get started in your area of expertise. It is:

Ideal for beginners
Just enough information to move its audience forward
Typically priced between $100 and $200
Great for coaching, consulting, and service-based businesses

Many digital course creators will use a starter course to prepare their students for their signature course. Starter courses are also typically a lower price point product for those who want to test the waters before jumping completely into a lengthier, more expensive program.

Starter Course Example: Louisa Deasey

One of my Digital Course Academy students, Louisa, is a memoirist who teaches others her techniques and tools for writing memoirs.

She has a Starter Course called 30-Day Journaling for Memoir Course that’s priced at $247.

She created her Starter course to help her students gain the insight and fuel they need to be published. If they’d like to do a deeper dive, they can take the next steps to work with her one-on-one.

2. Spotlight Course

This type of course takes a deeper dive into your content and focuses deeply on a specific topic. It typically:

Provides students with in-depth knowledge
Is priced between $200 and $500
Works well with a membership experience

Spotlight Course Example: Claire Le Roy

Claire Le Roy is an Australian interior designer who worked directly with clients for seven years before diving into digital courses. She created her spotlight course, Sketchup for Interior Design Beginners, for designer clients who want to learn how to use a popular piece of design software called SketchUp.

This type of course works well because she saw very little online support offered for interior designers and decorators.

3. Signature Course

A signature course is the most in-depth course offering. It’s specific and detailed, and it includes the entire framework for a transformation or result. It’s usually:

A comprehensive system for a complete transformation
Priced higher, from $500 to thousands
The number one revenue generator for a business

Digital Course Academy is my signature course because it offers a comprehensive program for creating, launching, and successfully selling digital courses. Even if you have no idea where to start, it offers the roadmap and resources you need to achieve your digital course goals.

Signature Course Example: Rhea Whitney

Rhea is a wedding photographer, coach, and educator who teaches rising pro-photographers how to run a profitable photography business through her signature course, From Hobbyist To Pro.

She teaches her students how to build a solid photography business with the exact roadmap she used to become a full-time photographer.

Digital Courses: The Case for Building Your Own

Adding a digital course to your business is one of the smartest moves you can make. They are flexible, scalable, and can revolutionize your revenue streams. All you need to do is decide on the approach that resonates with you and choose the course type that aligns with your business objectives.

A digital course has transformed my business and the businesses of thousands of my students. I truly believe they are the best way to start or scale your business — and I know you’ll feel the same!