Matthew Gates 3m 750 #bargain
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
PROBLEM: You have been running your store online for a while and you feel that you are making decent sales, a sale here and a sale there, but there is always room for improvement. You wish you could do better. You notice that your Google Analytics Tracking code is telling you that while you are making good leads and selling products, there are still plenty of customers who are adding items to the shopping cart, but end up leaving and not buying anything at the last moment. You want to figure out why they are doing this and come up with a solution to reduce it.
Face it: You are technically having trouble selling some of your products. You feel you have set the standard retail price that will help you make money on the items you are selling. You have tried giving away free trials. You have tried having your customers sign up for unlimited months and auto-billing where you send the product to them until your customer calls and cancels. You have tried reducing the price ever so slightly so you are still profitable. You have even tried free shipping. You cannot seem to get your customers to buy some of your products. What can you do?
SOLUTION: Aside from having testimonials, free samples, and even discounted items or coupons, you can always try to discount the sale on leave.
The idea is not new. I was visiting a website and I noticed the price of the product was just too high for me to not want to pay it. I think the product cost about $29.95. To me, the deal was not good and I just clicked the X button to close out the window. Upon leaving the website, a window popped up asking me if the price was too high — I am sure no matter what button I clicked, I was going to be taken to the next page, but I ended up clicking OK to agree that the price was too high.
A new page popped up with a lower price, about $10 less and this time, I was more inclined to buy the product. When I clicked the button to buy the product, I was taken to an additional page that offered me a package deal: Buy 2 at the rate of the $10 lowered price each and get 1 FREE! Why not? I ended up buying 2 and getting a third one for free. Of course, I am not here to review the product I bought which was probably some diet pill promoted by Dr. Oz that I do not think ended up working.
My point is, there is always a way to entice your customers into buying your products, even after you may have think you lost them, and even after your customer thinks they are not interested in buying from you. If you attempt at one or more chances — not to annoy the customer, but to offer them a better deal, than you likely to find many customers who cannot pass up a good deal when they see it. Even though the first initial price is what some customers will pay which is where you can make some of your money, you can still make that extra money by getting those customers who walked away from the full price.
Offer them a second lower price at a discount. Why lose a potential customer because you are not willing to let your product go for a slightly lower price? Not only did that company get me to buy 1 product at a reduced rate, but they got me to buy 2 products and sent me a third for free. Did they really lose any money? Probably not. It was a good deal that I could not pass up.
If you are having trouble selling your products and “feel” that they are set at a good price but not making the sales quota you set out to make, try this trick and reduce when the customer attempts to walk away from the sale. You can still sell it for full price to those customers who go on through without leaving the page, but to those customers who back out and attempt to close the page — either on the page itself or at the shopping cart — will get the offer and you will have made a sale and may even be able to upsell your product.
Try it out. It is a slightly sneaky trick, but it is not a bad one.
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