PRICING STRATEGY SUCCESS
The secrets of making customers HAPPY to pay HIGHER prices
From Marlene Jensen
The impact of raising your prices
If you can successfully raise your prices, it will put more cash in your pocket than anything else you can do -- including selling more products. Why? Because every cent of a price increase is pure profit.
For example: a 1% price increase would results in a 12% profit increase for most large corporations, given their profit margins. That's because you dont' have any additional costs associated with a price increase. A 5% price increase? That's a 60% increase in profits.
Assuming, of course, that you don't lose a large number of your customers!
Your customers aren't as cheap as you may think!
You may think your customers all want to buy the offering with the lowest price, but I can tell you from personal research that this is not true for most of your customers - be they consumers or businesses.
I just conducted a very large study of 12 different consumer products and on only one of them did most consumers prefer the cheapest offering -- a shirt. On all the other 11 products, ranging from eggs, HDTVs, MP3 players, tires, vitamins, watches, and more -- most people preferred either the 2nd from the cheapest offering or the middle-priced offering (out of 5 different prices).
Exception -- "Bargain Hunters"
Exception -- selling products with model numbers
But... even then a retailer charging a little more may win the sale over the cheapest offering -- if that retailer has a better reputation or better-known brand name than the cheaper alternative. But the price difference can't be much. For example, I've bought a number of items beyond books from Amazon.com even when they were a little bit more expensive -- because I trust with Amazon.com that I won't have a hassle if there is a problem with the product.
Price increases that go unnoticed
You may not know this, but there are 12 different ways you can raise prices without your customers even noticing!
See, pricing isn't all logic. Our brains are set up to notice some things in our environment and not others -- even when they're right in front of us.
For example, you've probably already noticed that many merchants price at $9.99 instead of $10. Those who have tested the two prices have found that they can increase orders 5-15% by dropping that penny.
Is this logical? Should a penny difference in price cause 10% more people to buy the product? No way.
Proof: Try changing your price from $9.99 to $9.98 and see if you get 10% more buyers! (Hint: I've tested those two exact prices and there was no difference in buyers.)
Now... suppose your current price is $9.98. Or $9.90. And suppose you raised it to $9.99. Or suppose your price was $88 and you raised it to $89.
Would your customers notice the difference? Probably not.
Memory tests with have shown that human beings ( whose written languages read left to right) remember $9.90 OR $9.99 as "9 something." And most of them remember $88 OR $89 as either $80s or high $80s.
Could you use an extra buck or two profit from each sale?
But you already know this tactic? Well... fortunately there are 11 more "hidden" tactics that use what we know about consumer psychology to find opportunities to raise prices.
Read my bio about another tactic I used personally to increased prices 31%. The result? Not only did I get the much higher price, I also got MORE buyers!
Or... read the testimonial right below about how one businessman raised his prices 20% -- and none of his customers even noticed! (Because he was able to use tactic #10 from this book!)
Maybe what will make the most money for you is a small change in what you're offering. One of the tactics shows you how to break down what you're selling into pieces of value -- then how to build it back up in your customers' minds into a product worth much more than previously.
You can "reposition" your product to make an increase acceptable
Maybe the big-profit breakthrough for you will be a pricing tactic that shows you how to reposition your product in your customers' minds. If you change their perception of your value to them - they'll be happy to pay more.
Using "discounts" to increase your prices
Do you offer coupons? Rebates? Discount promotions?
No? These are wonderful marketing tools that can help you increase sales and yet end up with MORE NET CASH.
Yes? Here's how to improve what you're doing -- so you get the same unit sales, but with more CASH.
How to "tweak" what you offer - so you can price higher
Sometimes the best way to increase profits is to change what you're offering. Best of all, you may need only a very small change! We've found 9 different tactics that use product changes to increase prices - and profits.
Do they work?
They did for the publisher who added 5 pages to a book and was able to raise the price from $27 to $47 - and still sell 98% of the units they were selling previously. Of course, just any 5 extra pages would not have worked. This was successful because those pages changed the value that potential customers perceived in the product.
You get a checklist to use for YOUR product or service. So you can see if you can raise your prices - with just a small change in what you offer.
"Packaging" changes that increase value to customers
As strange as it might seem on the surface, if you change your packaging -- you can often raise your price.
And... one of these package-changing tactics is so simple you could do it in 2-4 hours - at no cost but your time! See the research that PROVES customers will be willing to PAY MORE with this change.
Selling services? Each of these 4 different "package-change" pricing strategies can also be used by YOU!
How changing your promotions can let you raise prices!
There are 6 different pricing strategies that can make customers pay higher prices - just because of a change in your ads or your press releases.
Turns out there are "magic" words that you can use. Some are used to describe your product or service. Others can be used to describe your offer. Use these words and customers will change how they perceive your product/service or your offer. It will have increased value for them.
Finding gold in your customer retention programs
Do you have a customer retention program? Learn how to find fat price-raising opportunities from small changes to your program. Without hurting the retention-value of the program! In some cases these tactics will INCREASE the perceived value of the program -- while decreasing the out-of-pocket cost of what you have to give away.
How to conclude sales negotiations -- with fatter profits
You don't want to do the work to get higher prices, only to have them disappear when customers put your sales staff under pressure. You need these:
Profit-raising opportunities provided by your competitors
Sometimes we get a "gift" from our competitors - one they didn't intend to give! Here's how to recognize these opportunities - and take advantage of them!
Have your competitors just raised - or lowered - their prices? Each time they make a price move, they give you an opportunity to increase your profits. (Or, if you're not careful, an opportunity to LOSE profits!)
With 46 WAYS TO RAISE PRICES - WITHOUT LOSING SALES, you'll also get 2 quick and easy models that will tell you the likely results of raising or lowering your prices. You need enter only 3 numbers to get these results. (See a full description below under "bonuses.")
No time-wasting mumbo-jumbo theories!
If you've read - or TRIED to read - other books on pricing, you may be hesitant to risk your sanity on another. However, I can assure you that 46 WAYS TO RAISE PRICES - WITHOUT LOSING SALES contains NO demand curves, technical blather, or page-bulking-up yada yada. Further, it doesn't talk theory - without translating that theory to what it means for YOU... TODAY!
It's 134 pages, with 46 chapters - one for each price-raising idea. Each chapter explains the idea in plain English, with plenty of real-world examples so you can see how this idea could be used by lots of different businesses.
BUT... even though this report is EASY to READ, and ready for you to ACT ON IT - there is SOLID RESEARCH and real-world price testing behind each tactic.
Want to see a partial Table of Contents? Then click here.
This is a "raise-prices checklist" you will be able to use for years and years. You can run each new product or service idea past this checklist and KNOW that you will be getting the maximum profit possible for each!
1-2-3 PRICE-CHANGE MODELS™
Never again wonder how to analyze potential price changes. These models let you see when you can raise prices and get away with it. Enter just 3 numbers into one of these Excel® models, and you'll know the answers to:
1. Whether your price increase is likely to succeed. (Or the consequences of a price decrease!)
2. How to respond to competitor price changes. Should you move with them? Or stand pat? Which will give you the most profits?
The 1-2-3 PRICE-CHANGE MODELS™ are FREE with your copy of 46 WAYS TO RAISE PRICES.
PROVEN PRICING SECRETS
This book is a great idea generator for how to add value to your products and services. After reading this book, if you can't think of a NEW product or product CHANGE -- that will allow you to price MUCH HIGHER, we'd recommend you see a doctor for a brain checkup!
|Special discount & guarantee
I intended to price 46 WAYS TO RAISE PRICES - WITHOUT LOSING SALES at just $125, even though the wisdom it contains from thousands of price-testing marketers could easily increase your profits by hundreds of thousands of dollars.
BUT... if you order today this report can be yours for just $75 -- a savings of $50! And... you can look it over and decide for yourself if it is everything you expected.
If not, just let us know within 8 weeks and you'll receive a full, 100% refund.