Many folks who sell items online and offline have a theory about what sells and doesn’t sell. I’ve heard stories that
the cheaper the price is, the less you will make, because folks who are looking for low prices aren’t about spending money. Price Point Theories are somewhat crazy when you are trying to sell products to consumers.
World renowned marketing guru Dan Kennedy says raise your price on your products to attract a particular type of customer. For example, if you got a product that’s worth $197.00 dollars and you are only charging $25.00, folks will think that it’s not worth buying because it appears to be too cheap. So, the higher the price, the more value that the consumer feels that product has. Don’t look for the tire kickers when pricing products. Higher price items get bought more often than cheaper price items, so don’t be scared to raise the price on what you know that has value.
A Lesson From Dan Kennedy
NO BS LIVE TV – Your Pricing Strategy – Small Business Marketing Tips
nobstv.dankennedy.com On this week’s episode, I share three of my most valuable tips on pricing strategy that will help you avoid a pricing disaster. Also on the show, John Melley joins me via Skype to discuss his new AudioMercial service.
- Dan Kennedy: PolitiFact and the Limits of Fact-Checking
- What I Learned From Dan Kennedy About Price Strategy