Here‘s what MetaLaby did…
1. They had 3 different subscription lengths (1 month, 6 months, annual).
The majority chose a monthly plan.
2. So they decided to only offer a monthly plan = eliminate one step = make the checkout process easier.
Result: 40% decrease in sales.
Why?
It turned out they broke 2 important rules:
1. Psychological reactance.
When we feel that someone tries to force us to do something (“Do this one thing”), we often respond in such a way that will re-assert that freedom (“I have choice, I won‘t do this”). In that case, leave the checkout.
2. Anchor pricing.
When you see only one price you have no idea whether it‘s good or bad.
But when you have 3 prices, you are able to compare them and choose the best.
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