Studies have shown that there are three classes of shoppers:
Tightwads are very price-conscious, so it requires different strategies to sell successfully to them, as compared with spendthrifts and average customers.
There are a number of tried-and-tested strategies which can get even tightwads to part with their cash because they can’t resist a great deal.
The most obvious way to sell to tightwads is to offer them bargain prices. There are two ways of doing this. The first is to genuinely offer a discounted price that will make your product irresistible.
The second way to boost your perceived value so high that they can’t resist a "great deal" is the "value-stacking" method. In this method, you list all of the items in the deal with a "real value" next to each one. Then you total up the value listed. Once you’ve done that, you offer the deal for a significantly lower price. The comparison between the "real value" and the offer price will make even the stingiest buyer thrilled to get such a great deal.
Bundle two or more of your best products to sell for one low price. The price won’t be as high as the total of the two products put together, but it will increase the value of each customer passing through one of your sales funnels.
You can also create a bundle of high-perceived value by offering things in the bundle that buyers won’t be able to get anywhere else. You can stack the value without spending a lot of money. Create checklists, fact sheets, tip sheets, how-to videos, and other free items that enhance the user’s experience. They will take some time to create, but they won’t cost any extra money. Add the value-stacking technique above and make it clear that the items are exclusive, and you should have no trouble selling your brilliant bargain bundles.
Anna D. Banks, MAS, is an Executive Coach, Trainer, speaker and a John Maxwell Certified Coach.
Anna works with women professionals and business owners who desire a bigger business and self-development. She facilitates workshops, seminars, training, and coaching to entrepreneurs, and owners of small-business and mid-sized business.
Anna is also a Certified D.I.S.C. Behavioral Studies Trainer, in addition to her extensive training, business development and media experience.
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