Let’s start by saying what we don’t mean with regards to price comparisons with other companies. We’ve all seen the ‘basket of goods’ indulged in by supermarkets where prices of a selection of moderately essential goods is compared to that of their competitors. However, it’s a risky endeavour requiring a lot of preparation, bravery, lawyers and, often, tenacity in the face of legal threats. It’s probably a step too far for most email marketing companies.

Price comparison between products is an effective marketing ploy. Offering a choice can convince your customers you are quite happy whichever one they choose and you are doing your best to help them decide which is best for them. There’s been a fair bit of scientific investigation into the process and the conclusions are not only interesting, but useful for us as well.

You and I are predictable in our decision-making. Not entirely, but enough to leverage a decent ROI. For instance, it is well documented that if three items are offered at various prices, the one priced in the middle is the item that sells best. Care still needs to be exercised. It is, customers might think, a trick and you don’t want the subscribers to your email marketing list think they are being taken for mugs.

The fact remains that customers generally like to make an informed choice, particularly if there are sufficient details of all the items to allow them to decide which would be best for them. We, of course, would like them to buy a particular item. Our preferences should not be obvious, but we have many ways of influencing a decision. Middle-pricing is a case in point. If all three items are value for money, and your descriptions of their positives and negatives are accurate and comprehensive, who would complain? 

The Economist offered to students in an investigation three choices for subscription to their magazine. Internet-only subscription was $59; print-only was $125 and, oddly, the print-and-Internet subscription was $125. 84% chose option three, no one chose the middle one. When there were only two options, Internet-only at $59 and print-and-Internet at $125, only 32% chose the latter. 

The results are illogical. To anyone experienced in email marketing, they are also predictable. You’d no doubt like to know the scientific reason behind this phenomenon, although it’s unimportant for us for practical purposes. The theory is that people like to judge things in relation to others. That might be right but who knows? Who cares?

We can use this research in an email marketing campaign. I would suggest it’s essential to be honest and fair with your subscribers, as always, despite you probably wanting to push one particular item. If you put two items which are of different value in your email, allowing your customers an informed choice between the two, and, an essential, the items are easy to compare, your subscribers will be happier in their decision. The fact they had a choice will reinforce their satisfaction. After all, didn’t they pick it?

Comparisons are good for email marketing if they’re helpful, upfront, and fair.