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4 Sneaky Ways To Slaughter The Price Concern Of Your Prospects!
Who says you have to always compare apples to apples? Try comparing apples to oranges instead. Use these 4 ‘sneaky’ techniques for your website and watch your sales grow!
Sneaky Technique #1
Confuse the price concern with indirect comparison.
Let’s say that you are selling CDs for a seminar. You can go around the price issue by saying this…
“The CD-set may cost $397, and that’s a lot of money. But think about the money you saved if you actually went to the 3-day seminar.
You’d be paying $300 for the hotel, $300 for the plane ticket, $200 for food and drinks, and $600 for the ticket to get into the seminar itself…so you are actually investing $397 instead of $1400 and getting the same information.”
So the price issue here is not with your competitors. You are comparing the value of the CD-set with the more expensive live seminar!
Sneaky Technique #2
Bring up the labor and research it took to develop your product.
For this example, let’s say you are selling vitamins and your price is higher than the competitor’s. Tell your prospects (if it’s true) that your vitamins:
Is researched by a team of 1000 world class scientists that cost millions of dollars.
Took ten years of constant research to reach your perfect formula
Organically harvested and costs millions of dollars more to bring the best of nature to your customers.
This justifies why your product is more expensive by demonstrating that millions of dollars of labor that is packaged into your product.
Sneaky Technique #3
Sell the ‘bulk’ benefits your product offers.
Return to the vitamin example. This technique doesn’t even compare your product with money. Show your prospects how much food they will have to eat to equal the amount of nutritional benefit found in your vitamin.
For example your vitamin offers:
The vitamin E found in 5 pounds of peanut butter
The vitamin C found in 60 large oranges
The vitamin B found in 70 pounds of beef
Definitely your vitamins are cheaper than 70 pounds of beef, 60 large oranges, and 5 pounds of peanut butter. So you’re making them feel like they are getting a great deal!
Sneaky Technique #4
Split the price into easy payments.
If you want to squeeze extra cash from your prospects, this is a great way to go…even if you price is higher! Sales will improve if you offered them an option of paying one big sum or paying into easy installments.
For your $1000 product, offer them 4 easy payments of $250. Conversion will increase if you give them these options.
The funny thing is that it has been shown that if you offer a ‘premium’ package for $1500 split into 8 easy payments of $187.50 instead, there is no difference in conversion rate…but a big difference in your wallet!
I don’t have a scientific reason why…I just know it works!
These techniques are used to make it difficult for your prospect to make an easy, direct price comparison. It also shows the hidden monetary value of the products you are selling.
If you haven’t used these techniques in your website yet, start doing so today and you’ll be happy you did.
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