how you can stop selling your products at low prices and learn to raise
|Home :: Contact us :: Privacy :: Site map :: News :: About us|
How to sell at higher prices
Here's how you can stop selling your products at low prices and learn to raise the price of your products inconspicuously, (or price a new product higher initially), to actually increase your income.
Are you one
of thousands of struggling entrepreneurs scared to overprice your products?
The following 7 tips will help get you on your way:
1. Realize that there ARE going to be several people that will reject your high(er) prices.
Work to convince
these prospects that your products ARE reasonably priced by getting them
to look at the cost in terms of long-term investment -- not initial out
of pocket cost.
if you charge $75 for an online business startup guide that (thoroughly)
covers such things as taxes and accounting, website design, ezine startup,
and product creation, stress the value of that all-inclusive package.
Remind them that if they had to get all of the information in your book
from several sources, (i.e. a book on ezines, a book on taxes, etc.),they'd
possibly be spending several hundred dollars -- instead of a measly $75.
them that if they had to take the time to figure out all of the info in
your book on their own, it could take weeks. Or months. If they put a
high value on their time (and I think your ideal customers should), they
should then have no problem spending such a small sum on such a sound
investment. After all, what's $75 worth, in exchange for several months
of their time?
2. Know when to call it quits.
Work to convince those "hard sell" customers that your product is definitely worth its price, but don't work TOO hard on them. Remember, there are several ideal prospects in your new niche that won't think twice about spending what they'll feel is "chump change" for a quality product. You can't please everyone all of the time, and those penny-pinchers are NOT your ideal prospects. They're the ones that take months to make a decision, then still end up leaving you out in the cold.
prices are "inexpensive" -- or they aren't. Don't get caught
in between. If you're going to go high, do it boldly and with confidence,
or you'll risk the "in my opinion, your products are a little pricey"
syndrome. You want to avoid creating that kind of indecision in your customers.
Let them see immediately that your products require a high initial investment,
if that's your goal.
4. Be sure that you're able to back up the high price of your products with quality.
pretty good "duh" factor with this one. If your product is only
worth $50, don't try charging $200 for it -- at least not until you find
a way to add on to the product, to increase its value, to match (or ideally
exceed) its price.
5. Re-evaluate your marketing strategies to attract the right kinds of customers.
of customers have you been attracting? Before you get in a huff asking
me how you're supposed to know THAT ... think about it. It's easy enough.
First of all, what kinds of questions are you normally asked by potential
you're going to want to re-evaluate your marketing methods and sources
to weed out these kinds of "cheapskates."(NOTE: If you're being
asked those kinds of questions a lot, you may also want to re-evaluate
your sales copy. It may not be conveying the true value of your product,
if indeed it IS unique, and is worth the price you're asking for it.)
all, what's your hits to sales ratio? Although a lot of factors can influence
that ratio, it can definitely help you find out if you've been attracting
the right kinds of customers so far. A higher ratio could mean that your
marketing efforts are right on target, and fit your ideal customer profile.
A lower ratio could mean that you need to re-assess your marketing strategies
to refine your focus.
6. Know the difference between "high priced" products ... and "ridiculously priced" products.
this, you can look at your competition, evaluating both their product
and the price they're charging for it. Obviously, if you're offering a
home business startup guide for $30 with no real perks, and are thinking
of raising your price to exceed ABC company's $99 guide which includes
several perks, it would be a bit foolish to raise your price until you've
added to your offer.
On the other
hand, "ridiculously priced" products can still work for you
if you know how to swing it. It's all about increasing the value of those
products. It may be easier when you're first starting out with drastically
high prices to work your way up to them, raising the price every time
you add value.
You can also
ask someone (getting steady sales) who's currently offering products for
similar amounts what their trade secrets are for pushing their own outrageously
7. Just do it.
No, I don't
work for Nike. I'm just a strong advocate of ACTION. If you have the attitude
that your products are priced too high, and are worrying that your customers
feel the same way - they probably are. Why? Because you've subconsciously
given them that impression through your sales copy (if you wrote it),
and your intimate communications with them. Don't taint your mind (and
actions) with the deadly stench of insecurity; your sales will surely
suffer for it.
Before I end this, I'd like to advise you to NEVER succumb to the lures
of people asking to get your products at a discount, unless they have
something concrete and immediate to offer you (as in a true barter). Giving
your product away for free or at a reduced price almost NEVER pays off,
and can cause you much more trouble than it's worth.
whatever you think can work can work. It's just a matter
of getting up and figuring out a way to pull it off. And honestly ...
is that REALLY so hard?
Harmony Major is the author of Yahoo! Secrets, where she reveals how a few days of work can guarantee HUNDREDS of unique visitors-- customers! -- to your site each day, for life. NEWSFLASH: Get30% OFF for a LIMITED TIME! Reserve YOUR copy of the #1 Yahoo!guide online at http://www.YahooSecrets.com