Are your sales coming up a little short these day? Retail
sales, Internet commerce, and business-to-business suppliers
are all having problems matching their stellar performances
of previous years.
When economic times get tight, just about every business'
sales slump.
Get a quick and lasting boost in sales by making your
customers an offer they can't refuse. Customers will buy IF
you give them a really good reason to. Of course, the tighter
their budgets, the better the reason has to be.
Use Psychology
First, try to understand your customer's thoughts and desires.
Most people have goals they are striving to reach. They may be
trying to cut costs, spend less time on tasks, be more
attractive, or simply find more excitement in life.
When your customer falls short of her goalas almost all of
us do from time to timeshe may look for a purchase to
move her further toward where she wants to be.
As an example, Sandra is frustrated with the growing complexity
of her business. Last week she bounced a check and forgot to
invoice a customer. The simple bookkeeping system she
created when she started the business isn't able to keep up
now that her business has grown.
On a trip to her neighborhood office supply store, Sandra
sees an affordable accounting program. It promises to make
quick work of all the things that are frustrating her. As
Sandra picks up the box and heads to the checkout, she
already FEELS like her life is more organized.
Psychologists call this important principle "reaction
formation." It is a powerful motivation that influences a great
deal of what we buy.
Think about the goals your customers probably have. How
can your product, service, or idea help them feel like they are
getting closer to their goal? While you are helping your
client reach his objective, it is the fact that he FEELS like he
is getting there that is so important.
Create a High-Value Bundle
If one product or service can solve a problem, imagine how
well three, four, or five products could work. When you
bundle together several related products or services,
customers respond.
Look for items that work together to cover every angle of a
problem on the job, at home, or in the customer's personal
life.
A computer site might bundle software that prevents crashes,
a second program that makes memory work more efficiently,
and a virus protection program.
Billed as "fix crashes, avoid future problems, and make your
computer run faster," the bundle could be priced low and
placed on the opening web page and in print advertising.
Show the value the customer gets when she buys the items in
a bundle rather than separately. Add up the total savings and
promote them. Point out how the customer could use the
money she saves.
NPR recently reported that studies have found that customers
don't necessarily want the lowest price, they just want a fair
price. Some retail chains feel they don't get results unless they
offer at least a 50% price cut. Most businesses get sales with
much smaller price reductions. Our customers are usually
delighted if we can lower prices ten percent.
Perks and Time Limits
You can sweeten the offer by adding attractive perks. These
are usually things you can buy or provide cheaply but have a
high perceived value to customers.
We created a bonus where we write a classified ad and place
it on a major site that gets millions of visitors. Customers
love the service and it doesn't cost us much. Our
professional writers create a classified ad quickly and we
place them at low cost. The perk is an easy and effective way
to round out the bundle and close lots of sales.
Give your high-value bundle a time limit. Customers are
busy with thousands of advertising messages competing for
their dollars. Unless you can give them a good reason to buy
NOW, many will put off the purchase and forget about it.
Advertise that your bundle is only available for 24 hours, a
week, a month, or until the end of the year. You may want to
offer the same bundle over the long haul,but change the
bonus items for time to time.
By combining these three principles you can create a quick
and lasting boost in sales. Customer psychology, high-value
bundles, and time limits work together to build excitement
and traffic for your store, service, or web site.
About the Author
Ron Sathoff and Kevin Nunley provide marketing advice,
business writing, and promotion packages. See all their
helpful tips and ideas at http://InternetWriters.com Reach
them at mailto:service@InternetWriters.com or 801-328-
9006.