At our most recent STYLE MINDS event, financial educator and bestselling author Mel Browne took us through eight clever pricing psychology strategies that can help any business – big or small – price more effectively and convert more clients. While her tips apply across many industries, they felt particularly relevant for those of us in the world of property styling.
Here’s a breakdown of her most powerful ideas, and how you can start applying them in your business today.
1. Stop Calling Your Business Your Baby (And Drop the Words “Just” and “Only”)
Many of us are guilty of calling our business our “baby.” But Mel explained that when you treat your business as something deeply personal, you lose objectivity. You’re less likely to test your pricing, experiment with offers, or accept constructive feedback. And watch your language – saying things like “I just do styling” or “It’s only a small job” instantly devalues your offering. Start treating your business like a brand, not a baby.
2. Lead with Value-Based Pricing
Mel encouraged us to flip the usual pricing model on its head. Instead of pricing based on your internal costs, begin with the value your client receives. In our industry, that value is a faster, more profitable sale – not just a few sofas and cushions. Ask: What outcome is the client hoping for? What is that worth to them? Then build your pricing around that.
3. Avoid Over-Similarity
In a Yale study, when two items were priced the same, customers struggled to choose – often walking away altogether. But when one was slightly more expensive, sales increased significantly. If you’re quoting similar packages or styling levels, make sure the differences are clear – not just in price, but in what the client receives. Avoid blending into the crowd.
4. Use Charm Pricing
Charm pricing is the tactic of pricing just below a round number, like $39 instead of $40. It’s a small shift, but psychologically, it feels like a better deal. In styling and hire, we often round to clean numbers, but even slight adjustments (e.g. $2,950 instead of $3,000) can influence how affordable your services appear.
5. Don’t Make Clients Do the Math
“Buy 1 Get 1 Free” often performs better than “50% off when you buy two” because it feels easier to understand. In our industry, if you’re offering promotions like “4 + 2 weeks free,” make sure you’re spelling out the value clearly e.g. “Enjoy $1,000 of extra hire value, on us.” Simple language wins.
6. Frame the Offer to Feel Accessible
How you present your price matters. Instead of quoting a flat $3,000, consider showing a payment plan option – e.g., “4 fortnightly payments of $799.” It feels more manageable. There are also services like ListSure (and others) that let clients pay for styling after the sale of their home, helping reduce friction around up-front costs.
7. Use Anchoring to Highlight the Deal
Anchoring is about setting a high reference point to make your offer look more valuable. If your regular hire package is $5,000, but you’re offering a discount or promotion like “4 weeks free,” be sure to show the original price next to the reduced one. This lets the client see the saving. Even small bonuses – like two free weeks of hire – carry more weight when their dollar value is made visible.
8. Offer Tiered Packages (Decoy Pricing)
Mel showed how offering three pricing tiers can guide people toward the one you actually want them to choose. For example:
- A basic styling package (perhaps a pared-back version with fewer accessories or less artwork)
- A standard package (your ideal full-service offer)
- A premium package (including extras like weekly resets, open home preparation, or premium finishes)
Most clients will instinctively go for the middle option – so make sure that one reflects your best service offering and value.
Mel’s biggest takeaway? Pricing is an experiment. Don’t be afraid to test, measure, tweak, and repeat. These small shifts in how you present your pricing could make a big difference in how often clients say yes.