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Pricing

Anchoring Price With an External Reference Number

An external price reference gives visitors a point of comparison for the offer.

  • Pricing
  • Purchase conversion rate (CR)

Control vs Variant

Absent on one side, present on the other.

Changed
Presence
Page
Pricing
Difference
added

Hypothesis

It may make the offer look more favorable, while an unrealistic or mismatched reference may undermine trust. The reference here must be a documented external price, not the seller’s former price.

How to run this test

Primary metric

Purchase conversion rate (CR)

Compare purchases per assigned visitor to see whether the reference price changes buying behavior.

Other metrics

  • Perceived credibilityIf surveyed, ask whether the reference seems credible; omit this measure if there is no survey.
  • Returns or disputesTrack complaints that the comparison is misleading.
  • Average order or plan valueReview purchase value alongside conversion.

What to check before and during the test

  • PresenceAdd one verified external reference before the offer price.
  • SourceName the current source and explain why the comparison is like for like.
  • AmountKeep the reference fixed under a documented update rule; do not inflate the difference.
  • PlacementUse one fixed placement; testing another location is a separate experiment.
  • AudienceReview predefined buyer groups for whom the price comparison is relevant.

Setup mistakes to avoid

  1. 1Do not show invented or unverifiable figures; claims about market averages or competitor prices need a current source.
  2. 2Do not change the reference price and the actual offer price together.
  3. 3Do not choose an implausibly high reference that makes the offer look artificially cheap.
  4. 4Check the target market's comparative advertising rules before naming a competitor.
  5. 5Do not leave an outdated reference price in place if it is not refreshed.