- AND GETTING MORE ORDERS !
"The accepted philosophy of selling is
that the higher the price the fewer orders you'll get, and the lower the
price the more orders you'll get. Since everyone is locked in to
that law of economics, the goal is to find the point on that sliding scale
that maximizes your profit."
LET'S THROW THAT SLIDING SCALE AWAY
Here's a very important trick that lets you transcend mere economics and rise to a new plateau. It's true that if 100 people are all trying to sell the exact same product, if you triple the price of your nearest competitor you probably won't make many sales.
But who says you have to sell the exact
It's your job to re-package your product, or bundle it with other products and services so that it becomes unique and increases in value. By putting your own combination of products together, and pitching them from a different angle, customers lose their basis of comparison (because there's nothing like it to compare it to). Once you've pulled them out of that framework, you can put a value on each piece in the package, total it up, and then basically name your price.
EXAMPLES OF REPACKAGING
Let's look at information products and
their relative perceived value in the marketplace:
All four of those formats could all provide the exact same information! So guess what? If you're struggling to sell a book today, tomorrow make it a manual or even better yet a Home Study Course.
Of course for a home study course people are expecting more than just a book. But if you provide needed forms in the book, a reference section, etc., you can include them in the home study course as 'extras'. Instead of just saying you're selling a book, list different chapters as if they are completely different products. Break your book into 3 smaller books - Now your customers are getting 3 books for the price of one!
Add a 'valuable' audio cassette as a free bonus. - Or a video. The quality doesn't matter, you can videotape yourself at home as long as you are providing useful information.
Include a software version like what you're reading now as an addition to your manual. Now you are ADDING VALUE!
The same program that comes on a 3 1/2" floppy disk is worth more if it comes on a CD-Rom. You can pick up a recordable CD-Rom for a few hundred bucks and press your own informational CDs for $2 apiece.
MORE VALUE ADDING:
To add even more value, offer discounts on your services or other products, or even add your services free. By saying , "Order now and receive $200 in vouchers for drastically discounted services as our special thank you", suddenly the apparent worth of your package has been 'upped' by $200, and most people probably won't even use the vouchers!
(I'm using this as an example because I had to take my cat to the vet yesterday.)
If you are selling a book on cat care, $10-$20 is probably your limit. But turn it into an informational CD with word search capabilities, call it, "CAT DOCTOR IN A BOX", and you can sell it for $49. If you have a section on cat psychology (Is your kitty neurotic? Special report on how to relax your high-maintenance feline), use that as a free bonus, giving more examples of how to make your cat behave. A lot of people will probably buy the product just for the bonus. Are you a vet? Include a 1/2 - off coupon for your next visit. - Or a FREE coupon for an initial visit. That way you can increase your customer base at the same time!
I hope you are getting the idea, because this is a crucial concept. Selling everything for bottom-dollar is no way to go on the internet, because the people who are looking for a $5 solution to their problem really don't even want to spend $5, while a pricier, more complete solution will appeal to more affluent buyers who don't mind spending money on quality products for solutions to their problems.
Take a look at your product/service, rip it apart, add some extras, and put it back together to see what kind of a Frankenstein Super-Seller you can put together.
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