Web site Marketing - buy cheap sell high? Interesting article.
Traffic Conversion Expert Reveals Little-Known Secrets
To Closing BIG Ticket Deals!
Copyright © 2006 Quick Turn Marketing International,
Ltd.
Hogwash!
That’s what I say to people who tell me that their
business is purely and solely a “cheapest price
business.”
People who stubbornly insist that “MY business is
different” are right, but not in a good way.
Their business is different because it will never make
big money.
People who are unwilling to open their eyes to BIG
ideas are solidly parked right in their own way…
their own BIG obstacle to success.
Big money is made by translating great ideas from
outside your industry — whatever it is — into your
industry. What gives you your competitive edge is a
unique selling proposition (USP).
That’s the key… not your low, low price. (Although
in some instances your price may be part of your USP.)
Recently, I was consulting with a client and I was
explaining my opposition to selling by cheapest price.
She insisted that hers was an intangible, not a
product; that my examples didn’t apply to her
business; and that, basically, I had my head up my
butt. I tried to explain in terms I hoped she’d
understand:
* You can fly coach or PAY MORE to fly first class in
the same plane and get to the same place at the same
time
* You can get financial planning for free from over
half of all financial planners (who make their money
only from commissions) or PAY MORE for the service and
still pay commissions to other fee-based planners.
* You can get your taxes done by H&R Block or PAY MORE
to use a CPA
So the critical question is:
“Why Do People PAY MORE For Some Services When The
CORE SERVICES Offered by CHEAPEST PRICE Competitors
Are Pretty Much The Same?”
“Debbie,” I told her, “You’ve gotta understand: value
differences don’t have to come from the ‘core’ item.”
It doesn’t matter whether you’re talking about a
product or a service. Value differences usually come
out of areas of expertise and service such as:
* Exclusivity
* Access
* Guarantee
“And Debbie,” I explained, “it’s a hell lot easier to
make money by selling half as much at double the
price. Does that make sense?”
It made sense to Debbie and I hope it makes sense to
you! Just to make sure, I’m going to give you…
5 QUICK-TURN TACTICS for closing BIG TICKET deals
#1 - Compare apples to oranges.
“Tired of dragging out a bulky food processor and
guessing which attachment is the right one for the
job? The compact Ultimate Chopper is 4 machines in 1
so you can replace your food processor, coffee
grinder, standing mixer and ice cream maker and gain
more counter space in your kitchen.” (Ultimate Chopper)
#2 - Decrease the price by adding valued component
parts.
“Bring your spouse for FREE! Yes, not only can you
come, but you can also bring your spouse for FREE.
This is a ,995.00 value by itself.” (Real Estate
seminar)
#3 - Identify the unique, invaluable aspect of your
product.
“Quite honestly, the majority of currently available
bodybuilding training and nutrition information today
is never going to produce gains for 98% of the
population.
“The pros simply have much better genetics for
building muscle and are taking massive amounts of
anabolic drugs…I’m not a “Mister” anything. I’ve
never won a title.
“I’m just a guy who after 22+ years of trial and error
has figured this stuff out and can relate to the
plight of the genetically average trainee. I
absolutely know what works for genetically average
bodybuilders who want to maximize their potential. I
know exactly what the average guy has to do to make
muscle mass and strength gains as fast as genetically
possible.” (Bodybuilding)
#4 - Make the high price itself a benefit.
“Organic foods are more expensive because production
is more labour intensive and without herbicides,
pesticides and other chemicals, the yield is generally
smaller.” (Organic food)
#5 - Break down the big amount into smaller amount.
“Valuable legal services for less than a cup of coffee
a day, from top law firms! Protection for you, your
family or your business!” (Pre-paid legal services)
If you are going to use “lowest price” to get your
foot in the door to acquire a new client, then the
race is on to “switch” that newly acquired client from
price orientation to value orientation BEFORE somebody
finds ‘em and offers to beat your price.
The Lesson: You CAN charge more for your stuff as long
as you’re showing you client that even though she’s
paying a premium price, she’s getting a good value.
Think “added value.” Think “golden handcuffs”;
benefits/service so good I won’t walk away from it,
even for a lower price.
Dan Lok
= = = = = = = = = = = = = = = = = = = = = =
A former college dropout, Dan Lok transformed himself
from a grocery bagger in a local supermarket to a
multi-millionaire. Today, Dan is one of the most
sought-after business mentors on the Web, as well as
a best-selling author. His reputation includes his title
as the World’s #1 Website Conversion Expert.
To find out what Dan is up to now, visit him at:
WebsiteConversionExpert