Ultimate Guide to Pricing Your Product – My Top 7 Tips

 TOP TIP  TAKEAWAYS

Hi There

I’m doing a series of tips that I learnt through my marketing journey and gleened from experts hope they help you all in your own online marketing. Hope they help you

No 1.

Top Tip- How to Price your product like a pro

For example, if your price point is £97, instead write “Only £97.” Psychologically, by putting “only” in front of the price, you are making little of the price, implying that it isn’t that big, and is a good deal.

Takeaway: Use the word “only” before your price (e.g. “Only £97” vs. “£97”) as psychologically it implies the value you are getting is greater than the small amount you are paying.

No 2.

TOP TAKEAWAY

Top Tip – Here’s a method that will help your sales

Top Tip – Mention the “Normal” Price Next to your Sales Price

See how the supermarkets do it!

When people see the difference, between your normal price and your sales price, it influences their decision to purchase. By having a “normal” price listed it creates the impression that the deal they are getting is awesome. They’re getting all this value at a price that is way less than “normal”. People love to believe they are getting a bargain and by listing both your normal and sale price side by side, it highlights the value they’re getting for their money.

For example, when you list your pricing, write it as, “Normally $197 — Only $97 Today!”

Takeaway: People love a bargain. Create the perception of a great deal by listing your “normal” price next to your sales price (e.g. “Normally £197 — Only £97 Today!”).

No 3.

TOP Tip

Takeaway: Look for other businesses that you don’t directly compete with that you could partner with. Then look at how them selling your product can be a win-win, whether it’s a share in sales, fulfilling a need their clients have but they don’t offer and allowing them to market the service as their own or white labeling your product for their clients.

For example, if you sign up to a competitor’s newsletter, you can see how they nurture a lead and turn it onto a sale. Is there anything you see in this process that is working well that you can adopt for your business?

Or you may purchase a small item from them and find they are offering a great up-sell – is that something you could do?

Takeaway: Find out where and how your competitors are advertising and what their sales funnels are. Then look at what they are doing well and see how you can replicate this for your business.

No 4.

TOP TAKEAWAY

Join Relevant Facebook Groups In Your Niche And See What People Are
Complaining About

Takeaway: Join Facebook groups within your niche and see what the most common complaints are. Then find a solution to these complaints and either sell it or use it to build a list or following by giving it away free.

No 5.

TOP TAKEAWAY –Give Something Away Of Value
(And Monetize The Back-end)

Takeaway: Find something you can give away, that has value, and then look at how you can monetize the back end. Whether it is a sample of your service or a physical product, this works especially well if it something that other people usually charge for.

No 6.

TOP TAKEAWAY –Bundle Your Services To Create A
“Package Deal”

Takeaway: Bundle several of your services or products together to create a package deal. This creates another offering for your customers, with great perceived value, and gives you the opportunity to up-sell, move slow-moving products and increase your dollar value per sale.

No 7.

TOP TAKEAWAY – Have A Loyalty Program

Takeaway: Implement a loyalty program that rewards customers, through free products/services or discounts for future purchases, when they regularly purchase from you.

Hope you liked these please leave a comment AND  let me know

I’m here to help so all you need to do is send me an email

Email: startinternetmarketingonline1@gmail.com

Email: tarlmarketing1@gmail.com

Tony

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