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If you want to sell more, raise your price.

Posted: Sun Jan 19, 2025 8:12 am
by maksudasm
The idea is based on stereotypical thinking:

everything good and high-quality is expensive;

Everything bad is cheap.

People are not inclined to analyze the situation every time they have to make a decision. This is counterproductive. It is much faster to make a decision based on the stereotype "expensive means quality."

All promotions work on the lawyer data package same principle: the price is inflated, then the product is labeled “discounted” and that’s it, the person is hooked, automatically thinking that he is buying a useful and high-quality item for a very good price.

"It was about a batch of turquoise jewelry that the owner was having trouble selling. It was the peak of the tourist season, the store was always full of customers, the turquoise items were of good quality for the price she was asking; however, for some reason, these items were not selling well .

Several standard sales tricks were tried to remedy the situation. The display case was moved closer to the center of the store - did not work. Salespeople were forced to forcefully "push" the goods - again without success.

But as soon as the price of the products was doubled , the entire batch was sold out!”

Create scarcity and limit time
Demand must always exceed supply. Otherwise, no one will need your product.

Almost everything is sold this way today. Courses with a limited number of students. The amount of goods left in the warehouse that will be sold out tomorrow. There are no analogues to these services. The wording can be anything.

What is being sold is not the product, but the feeling of being chosen. Brilliant, but it works. The perfect example of this principle is the Birkin bag from Hermés.

Birkin bag from Hermés

"Every woman has a bag, but only a select few have a Birkin"

To buy a Birkin, you don't have to have money. You must already be a Hermés customer with an impeccable reputation and a total bill of 10,000 euros, preferably in one boutique.

Once you place an order, you are put on a waiting list for up to 1 year. During this time, you need to behave very well – regularly spend suitcases of money in brand boutiques, inquire about the order, be nice to consultants. And you know what? So far, the company has not had a shortage of clients.

Make your products popular
"Bestseller", "Buyers' Choice", "Product of the Week", as well as the presence of reviews are ideal tools of influence. Social proof in action.

"When we are unsure of ourselves, when uncertainty reigns, we tend to look to others and accept their actions as correct."

It would be better, of course, to try it on yourself, but who wa