3 proven strategies to get more sales without lowering prices in this economy
Many people believe that in an economy like this one – or even when business is just slow, the fastest way to generate more sales is by reducing your prices.
And while running a sale may sometimes get you new customers, there are plenty of other things you can do that have nothing at all to do with pricing.
Let’s talk about three of them.
First thing you can do is offer premiums and bonuses with your items. See, regardless what price you’re selling something for, the primary thing people are concerned about is value.
Give someone more value and they’ll gladly pay for it. Remember that old adage, “Price is only an obstacle in the absence of value.” It’s very true.
Second thing you can do is combine two different things you normally sell separately, and create value packages that allow your customers and clients to have a better experience using whatever product or service you’re selling them.
Again, this is basically a different twist on the last strategy of offering premiums. It’s all about perceived value, nothing more.
And lastly — this one’s going to sound crazy but it works — create another level of the product or service your selling, that’s even higher-priced than the one you’re offering now. Then put the two side by side together.
I don’t care whether you’re selling in person or in print, this works – especially if you present the higher priced item first.
See, human nature is such that when you present two things together, the psychological default way to evaluate things, is to compare them. So for instance, that’s why some restaurants will often throw in an exorbitantly priced item on their menu. NOT to sell it, but to sell the next highest priced item, because compared to the top one, the second highest priced meal looks like a real bargain.
Alright, that’s enough to keep you busy for a while, so have at it.
Now go sell something, Craig Garber
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