In previous email I talked about the power of comparison in marketing.
The comparison principle states that you should never offer to your prospective customer the choice between buying or not buying your product: you should rather offer the choice between two different configurations of that product.
There is a marketer, name is Sean D’Souza, who went further in using this concept and elaborated a very smart pricing strategy.
He always, always, always offers at least 2 slightly different configurations of pretty much the same products, at different prices.
The tricky part is that the price difference he sets is relatively small: something like 15%-20% (I mean, NOT double or triple).
And you know what?
The percentage of customers who go for the more expensive option is HUGE.
What does it mean for you?
imagine you have the same product that you can sell at $100 or, with a minor embellishment, you can sell at $120. And let’s suppose the percentage of those who would buy the high-end version vs the low-end one is – say – 70% vs 30% (btw, this proportion is realistic if the difference you set in the 15%-20% range, and if you sell properly the major benefits of the ‘deluxe’ version).
if you sold 10 pieces at fixed price of $100, you would make $1,000…
… but if you sell 10 pieces, 3 at $100 and 7 at $120, you make $1,140!
And why should you leave on the table those extra $140 for not testing this approach?
If you have your own products to sell, try this techniques immediately.
And if right now you’re an affiliate, keep the technique in mind anyhow: you’ll need it when you’ll create your first product.