Setting price points and making sales involves a delicate balance between offering value (i.e., what the customer demands) and making profits (i.e., what you need). Here are a few techniques that create value for your customers while keeping your profit margins reasonable. In some cases you can even get your customer to buy considerably more than they planned to—happily.
Most consumers are on guard as soon as they hear the word “sales” and cringe at the concept of being “sold” something. Day in and day out, we endure sales pitches of all kinds and in all formats: on television, in newspapers and magazines, on billboards, on public transportation, in stores and online. In fact, I’ll bet that no matter where you are right now, within a few minutes some sort of advertisement will be thrown at you.
Because of this constant barrage of sales pitches, we’ve become desensitized to them. Rarely do we even see the sales pitches any more, and if we do, we tend to run in the opposite direction as quickly as we can.
Sales gets a bad rap these days.
So how do we sell our customers on the awesome value of our product or service without making them feel like we’re “selling” to them?
Let Them Choose
Scenario One: You walk into a movie theater. There are two sizes of popcorn offered: small for $4 and large for $6.
Which one do you buy?
- Sales Survivor: Three Strategies to Help You Meet Revenue Goals Even in the Recession (paceaustralia.wordpress.com)
- Psychology of Selling, the Pareto Principle | Sponter (sponter.com)
- MediaPass Debuts Automatic Price Point Testing for Publishers (prweb.com)
- “THQ Explores a Lower Price Point Model” and related posts (ripten.com)
- A Publisher Doesn’t Want To Sell $60 Games Any More [Retail] (kotaku.com)
- Harvard Business Review Hit and Then Missed the Mark on Sales (customerthink.com)