It’s easy to dismiss the small things that make sales work because in this day and age of AI, big data, and algorithms it’s not very exciting to talk about those small things. But they’re huge.
Upsells, memberships, and loyalty programs can all work great but you are about to discover here the 3 things that absolutely make you stand out amongst your competition. And, the best part is this will work whether it’s a service you provide or an expensive item you sell.
Ever bought something simply because you couldn’t believe the price?
Maybe you didn’t even know you were looking for that product until it magically appeared in front of you at some outrageously attractive price. Then, just like that, you found yourself reaching for your credit card.
Warehouse stores and wholesale club stores like (rhymes with Bostco) are notorious for undercutting their competition because of volume buying. They then can pass on some of their savings to the customer.
But then a fairly predictable thing happens, the customer buys a lot of other stuff that they hadn’t planned to simply because they are now in a buying mood. Upsells to complimentary products, accessories, coaching, and a whole host of other things are just an offer away.
It’s never a bad thing to offer your customer lower pricing it may turn them into a lifetime buyer. In fact “lost leader” products are commonly used to get people into brick and mortar businesses and even online stores. Owners know full well the customer’s average “spend” will more than make up for the small amount of money the store has lost on the “bait” product.
You need to make your first offer as attractive and irresistible as possible without too many different options. Options can paralyze the buyer. Get that customer over the first hurdle so each additional upsell will be met with less resistance.
Remember the last time you bought a new car? The undercoating, sports package, upgraded sound system, extended warranty, heated seats, and much more were all upsells that increased your original buy by thousands.
Can you offer a lower front-end product or service at a price that people can’t walk away from?
You may legitimately only have so many products left, or so many hours that you’re available or the price from your suppliers is about to go up. These are all excellent incentivizes for people to buy.
Every product or service has the potential for creating scarcity. Make sure it’s real and you follow through with it.
Consider using these time-tested methods:
• Countdown clocks
• Expiration dates
• Only (this many) left at this price
• Price goes up on (date)
If you’re not offering a guarantee the message you’re sending your customer is you don’t trust your own product. Your customer wants peace of mind, give it to them. What is the strongest guarantee you can attach to your product or service? How confident are you in the results your customer will get? If everyone else is doing 30 or 60 days, could you do 100? Could you do 5 years? Only you have that answer, but the longer the guarantee the more faith it says you’re putting behind your offer. Be sure the guarantee is tied into some very specific behaviors that show the buyer made a significant effort to get the results you promised.
What’s going to make you gulp or hold your breath? That’s when you‘re really going to have your customers’ attention. Remember very few people ever take you up on a guarantee, so the respect your guarantee gets you and the confidence in your product message that it sends is worth far more than any refunds you end up giving.
Now put that guarantee everywhere. You could even give it a name that further builds your brand. The Brad Smith 100-Day Guarantee. How cool would that be?
