James Schramko here. And today I want to share with you some ideas of what you might be able to do instead of reducing your prices or offering a discount.
So I got a question from a member of SuperFastBusiness recently. His sales aren’t going as well as he wanted so he thought maybe he could reduce his price, offer a special discount, and maybe increase the value of this offer. So I like one of those out of the three.
Generally, it’s better if you can hold your price, however, describe your marketing better. Make the offer more appealing or target a better customer in the first place. So keep your pricing but describe your offer better, get that better customer. And of course, the value should be clear. Someone’s doing a return on investment decision, then you want to show that they will get a much better return, i.e. they will be better off for going ahead.
And regarding the price or the discount, the danger of that, of course, is that we attract people because it’s cheap, not because they want what we have. So think about anything else you could do. Maybe design a different front end, maybe have an audit process where they pay a small fee for you to go and look and see if they qualify for your program. And use that audit fee towards anything they buy. That used to work really well for my SEO business.
Of course, other people do things like strategy sessions, but if you can have a small fee that will really let a customer have some skin in the game and it will attract the right kind of customer. And because they’re paying, you can spend the time and you can make sure you put in the due diligence. Other things that are good are small wins. If you can get someone a small wind before they invest a dollar, that’s going to lower the bar for them to move forward with you because you’ve already demonstrated great value.
Hope you’ve enjoyed these tips. I’m James Schramko. This is SuperFastBusiness.com.
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