Competition based on price and various other factors with other companies is essential for companies seeking to grow and gain market dominance. Although price is partly important for the successful sale of a product, it is difficult to persuade customers to buy expensive products (especially those whose prices are higher than those of current competing products).
If customers can compete for similar brands and pay less, why did they decide to pay more?
Because price is also important in the purchasing decisions of most consumers, there are 8 ways to sell expensive products to customers who are willing to pay very little:
1). Sold with another expensive product:
According to Barry Schwartz's book "The Paradox Of Choice," restaurants sell a lot of food every day because they spend too much on one menu item and then slightly reduce the best menu price. As a result, this offer item is a bestseller. After all, it's cheaper than other items to offer meals at high prices.
When people realize that if they can't afford a more expensive variant of a product, in fact there is a product that is just as good and affordable for them, they will eventually worry.
Calculated as follows:
If you want Bentley to look exotic, build a regular car next to it.
If you want the exercise bike to look very valuable, place a company bike next to it.
By combining expensive products with equally expensive and attractive products, your potential customers will appreciate the cheaper of these two products. The smaller one is the product you are actually trying to sell.
2). Increase the value of the product as a price:
In the foreground, the product is visible only from the surface. They never know what to do, and honestly, they don't care. In the past, advertisers have aroused public interest in expensive products to show real results.
When watching some ads on the iPhone, you'll sometimes notice that the visual effects are limited to all the parts that make up the iPhone, and a great deal of effort has been put into making your device stylish.
This strategy is often used by software engineers. Before providing you with project costs, discuss the total number of programming languages, frameworks, working hours, team status, etc. The websites or web applications they create don't look complicated. After breaking a reasonable effort, slowly begin to adjust the price to the price of the programmer to find common ground.
3). Make the opinion that most people agree with the price:
The best way to make people feel that a lot of people are fine for your reward is to use social media to create a sense of acceptance.
You can run a social media campaign to see 50 paid but influential people using your product. When potential customers start seeing on social networks that many people use your products at a high price to post their photos, social motivation begins and people start buying your products at that price.
A good example is the Chanel brand. Due to the expansion on Instagram, many women emptied their bank accounts to have one of their luxury bags or wallets.
4). Let people convince you that how to solve a product problem is unique, fastest, and most effective:
People want everything that can solve urgent problems and save a lot of time. Although many companies claim to have products that can do this, few have them.
Create your product or service by solving potential customer problems faster than anyone else so that you truly realize the real value. Show them that many customers who benefit greatly from your products are considering paying higher prices for unique added value.
5). You divide large expenses by daily, weekly, monthly, and annual payments:
People find it easier to give up a small amount of money over time than to say goodbye to the whole amount. A small win is the key to potential customers paying the full price for an expensive product or service. It is much easier to mortgage a house than to sell it to a private person at once. The same goes for cars and many other items.
Divide the total quantity into small pieces and divide them into a certain period of time. This makes it easier for people to buy products or services.
6). Add free products as a free gift:
Everyone likes the old bonus. This business strategy is useful when trying to sell expensive goods to customers.
For example; It is difficult to sell toothpaste that is more expensive than other quality toothpastes on the market. However, if you provide a free toothbrush in the box, other people will become customers. The same goes for kitchen appliances. Add a cheap frying pan to your expensive expensive frying pans and potential customers are more likely to pay.
Rewarded items may receive transaction revenue during the sales promotion period. When they know that by buying expensive goods they will receive free gifts, they will begin to feel that the price is really valuable, because they will be rewarded for the decision to buy.
7). Encourage people to spend less and pay more:
This strategy is a recognized winner! Before presenting the price of a product to potential customers, acquaint them with many other but similar products sold by competitors and their disadvantages. Then show them what expensive products are much cheaper than their prices, but give them better value. the same or even the same price.
An attempt to buy a Lexus set a good example. The dealer tries to remind you that you get the exact value of BMW and Mercedes-Benz at a lower price.
By discovering their own products, people can reduce the burden of gold. If your product realizes its perceived value and promise, then your customers will become communicators of your brand.
8). Make your salesperson the smartest person in your industry:
People are always ready to seek professional help before making a purchase decision. If they have reason to believe that you will not be able to get rid of them, then they are just leaving with an excuse.
When it comes to selling to potential customers, not all other vendors in the region seem to be as good as you. Show them evidence of other customers' testimonials that show they get the best return on your purchase. People wake up when important people respect and seek advice from people they know.
Progress, facts and good recommendations cause potential customers to spend a lot of money on your expensive products.
Plus, you're an expert!
What do you think of these 8 ways to sell expensive products? Let me know by leaving a comment below.
Content created and supplied by: BusinessBoy (via Opera News )