Many buyers are just looking for the CHEAPEST Product or Service (My advise is to AVOID those)
Most buyers are looking for VALUE for MONEY. So if you can provide GREAT value for money they are more likely SPEND with you.
Buyers are so much more ASTUTE than ever and have access to so much more information (i.e. Internet) so it is easy to COMPARE your offer with many others with a few clicks of the mouse.
Your CHALLENGE is to offer HIGH Value for MONEY.
Here are a few pointers:
- Know what your COMPETION offers and for how much.
- Know your audience and GIVE them more of what they need, not STUFF they don’t.
- Make the PERCIEVED Value HIGHER than the Dollars you charge.
- Try and make the decision process a NO BRAINER (i.e. The OFFER is so good, why would I buy from anyone else)
There are MANY benefits to this method, here are a few:
- If the VALUE is high, you can keep the prices HIGHER and NOT get into a price war.
- The CUSTOMER is always happy to get MORE than they percieve they are paying for.
- Customers come BACK if they feel like they are being LOOKED after.
- COMPETITION is less of an ISSUE if you are INNOVATIVE with your offers.