Why should you have a pricing strategy?
Whether you have an online store or you sell professional services, it is essential to have a pricing strategy. First, you must ensure that you get enough to cover all fees. Then, if you want to live from your business, you need to consider all expenses in your calculation. Do you plan on providing a luxurious product or service to a few or something more affordable to a larger number of people? Do you want to be more like Louis Vuitton or Walmart?
8 tips to make your offers irresistible and increase your sales
But what can you do to ensure irresistible products and services and success? We found eight tips that can be great ideas for making your offers attractive and increasing your sales.
Take the time to do market research
First step: even before you start promoting your products and services, we strongly recommend you do market research. Indeed, by defining your target market, you will get information about their needs and budget. Also, take a look at your competitors’ offers. Besides giving you an idea, it can also help you find how you can stand out from them.
Create packages
For our second tip, have you ever thought of offering packages? You can combine different products or services to create a more complete experience. The important thing to remember here is to meet your clientele’s needs and ensure that the package remains more advantageous than if the person takes all items or services individually.
For example, if you sell soaps, you could create an offer that includes your three best-sellers for the price of two products. On the contrary, if you sell services, think about mixing two complementary offers. If you are a community manager, you could also offer to create newsletters to help your clients reach their clientele.
Explain what is included
Next, some people may be reluctant to purchase things online. A way to answer this is to explain the benefits of your products or services and all the inclusions. Justify your price. Create value. Be as precise as possible and try to answer all the questions a potential customer could ask themselves. On your online store, ensure that your product page is complete.
Offer more than one price level
At this step, you likely have finished your market research and know more about your target audience and their needs. If possible, why not offer different price levels? It works well with services and packages. Consider offering a product or service at a lower price and have other more expensive options that include much more. See that as an appetizer.
If we take back our community manager example, this professional could create an entry-level package for ten monthly posts on one social media at a competitive price. We want the potential client to test what we offer. Then, the community manager could provide a superior package that includes twenty monthly posts on three different social media platforms, etc.
Make the most expensive option irresistible
Here is a marketing tip used by many known brands. When there are several prices or packages, they ensure that the most expensive price remains competitive when compared to the medium option. Let us explain this. Let us say that there are three coffee sizes available. The small coffee costs $1, the medium is $1.25 and the large is $1.35. Since the medium and large coffee prices are similar, people might choose the most expensive option more often. Do not hesitate to try this!
Consider creating special promotions
People like to know that they saved money by finding a great deal. Promotions, special offers, and discounts remain a great way to increase your sales when we do it right. First, it is essential to make these offers temporary, which means they are not available at any time. Your potential customers must feel it is a special occasion they must not miss. Second, you must ensure that even if your items are in promotion, you will not lose any money. Third, it is recommended to vary the type of special promotions to avoid redundancy: free shipping, buying two products and getting one free, discount, etc.
Mention your refund policy
This point may sound surprising, but securing your potential customers is necessary: consider mentioning your refund policy directly on your sales pages. This way, people will know their options if they are unsatisfied. It is also a way to encourage your target audience to try your products and services. The traditional saying is that satisfaction is guaranteed, or you get your money back, although you can add some restrictions.
Add testimonials of satisfied customers
Finally, our last tip to help you make your offers irresistible is to display customer reviews on your website. Knowing that other people like your products or services will reassure potential customers who might need to learn about you. Therefore, ask your clients what they thought of your offer after a sale and ask their permission to use their testimonials.
In conclusion, it is up to you to see which strategies would work best for your business. Start by doing market research to know your target audience and competitors well, and try various tips to make your offers even more effective and irresistible. Remember that whatever the price, you must ensure that people think your website or online store is reliable.
Regarding this, do not hesitate to check our article on website credibility. We wish you success!