Rule of Seven
- Dan Miller 48Days.com
- 2012 13 Feb
Seven is just an appealing number, isn’t it? There is so much significance to the number seven – the Biblical number of completion – seven days of creation, seven days in a week, seven seals of Revelation, march around Jericho seven times, wash in the Jordan river seven times, etc.
The jersey number of John Elway and Mickey Mantle. Seven deadly sins, seven notes in the musical scale, Seven Natural Wonders, seven colors in the rainbow, Seven Habits of Highly Effective People, The Seven Principles for Making Marriage Work, etc. In fact, a quick search on Amazon shows 401,272 books where “seven” has been used in the title.
But here’s another interesting fact. Studies show that when products are priced with a number ending in 7, they sell five times more than the same item priced at any other number. That means that you will sell more with an item priced at $17 than you would at $15. Or one priced at $19.97 than at $19.99.
Have you ever noticed the pricing in Costco stores? When they are ready to clear an item out totally, they always have the pricing end in a 7. So jeans that are being discontinued will be priced at $19.97 or $24.67. Check it out.
If you have a product, try this out. If you are pricing your services, just experiment with this theory. You might be surprised at the results! It’s no accident that so many of the products in our 48 Days Store end in 7. We know it works!
Dan Miller is today's leading authority and personality on careers and 'Work You LoveTM'. As bestselling author of 48 Days To The Work You Love, and now No More Mondays, Dan reaches over a million people every month in his newsletter, podcast, and blog with the best trends and opportunities in the workplace and small business. For more information, visit http://www.48days.com.