 |
 |
One Way To Eliminate Price Resistance….My favourite way to avoid price resistance is to use the apples to oranges comparison formula as opposed to apples to apples. The reality is of course you can’t compare apples to oranges of course because they’re totally different. That’s how you want to make it seem to your prospects so
that they’re never comparing you apples to For example….when offering information products we’re continually looking at ways to add value. Sometimes it’s as simple as a transcription of a CD quickly turned into a manual and CD package. We prefer to turn it into a manual because a book is easily compared to another book…and books are worth $20 to $30 as opposed to a manual which could easily be valued at 5 times that amount. Besides, we now have a pack to offer, not just a CD. If you try and deal with price resistance by arguing in favor of your higher quality, your better service, etc… you’ll find it difficult to make sales most of the time. People DO want superior quality goods and services, but are still not keen to pay premium prices for the privilege. Many marketers fight this battle unnecessarily – it is much easier and much more effective to switch the standards of comparison. For example, winning by comparing oranges to apples and then throwing in the superior quality at no extra cost. When you’re in a head to head battle selling situation with a competitor, this technique can still be used. Recently when consulting to a client who‘re-manufactures’ car parts to shiny new, we were faced with this apples to apples competitive bidding warfare. Simply it was too easy to be compared to a competitor. Something had to change, and it did! Simply, I switched them to the customer loyalty model of when you buy 5 the 6th one’s free. This was regardless of how long it took them to buy 5 units – a tally was kept. What it did was get the buyers excited and eager to order more and more with a prospect of getting the 6th one free. And more importantly keeping all the profit on the 6th purchase. Clearly we were no longer comparing apples to apples…it was now apples to oranges with outrageous financial reward to my clients. The competitors are still trying to work out what happened – in fact…they think my clients gone nuts….yeah…all the way to the bank. Where possible, never allow your product to be compared apples to apples. The ease of the sale will depend upon it. Best Regards, Mal Emery Committed to Elevating the Financial Wealth and Wellbeing of Society Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism.
First
time to my Rant...keep up to date on new rants?
PS We can't stand spam. Your email will only be used to update you on my next rant. If you don't subscribe I can't update you & you wont be able to get access to my Rebellious Rant © Copyright Magnetic Marketing & Publications 2006 Apart from any use permitted under the Copyright Act, no part of this article may be reproduced by any process or any other exclusive right exercised, without the permission of Magnetic Marketing & Publications. |
Have you
enjoyed this week's rant?  |
 |