Search

News Feed

Business People Club

Increasing The Perceived Value of Your Product or Service

0 like 0 dislike
62 views
Posted by Herogue
Whether online or offline, small businesses often show little faith in the quality of their service or product. Instead, they tend to focus on the limitations and lower their prices. This natural insecurity can lead to disastrous financial results because lower prices cripple your return on investment.

Rest assured, you will make sales if you research the market, locate a need and provided a quality solution. Do not let insecurity waste the blood, sweat and tears you expended on the business. Instead, you should focus on building your credibility and displaying it on your site.

Consider the following:

If your product is the greatest thing since sliced bread, why are you selling it for a nominal amount? Sell it at a higher price to build credibility. This increases the perceived value because people associate higher prices with better quality.

Let’s look at professional services based on an hourly fee. If I write an e-book on Internet marketing for attorneys or accountants, the price I charge is going to be based on the conversion ratio. These professionals are particularly time conscious since they bill by the hour in their own practice. If my book promises to get them 10 clients each month producing $50,000 in revenues, the book is extremely valuable to them. If I charge $19.95, my credibility goes down the tube. Why would someone give away such valuable information for such a cheap price? On the other hand, if I charge them $599.99, the price adds to the credibility of my claims.

Don’t worry about charging too much for your service or product. You can always lower the price to ascertain the best figure for converting clients. It is much more difficult to raise the price for current clients.

Consider offering a free trial or consultation. This increases the perceived value of the service or product. Prospects will view you as credible because you would not give something away if it didn’t work.

If you know your stuff, you should be writing and publishing articles on the Internet. Unlike an advertisement, articles build an incredible level of credibility for authors and sites. If sites are willing to publish your articles, you must really know your area of expertise, right? You prospects will think so.

Include as many testimonials on your site as possible. The comments of previous purchasers will raise your credibility.

Give people a strong guarantee. For instance, most profitable e-books sites offer an unconditional 365-day refund policy. Yes, the customer has a full 365 days to ask for a refund. Will some people take advantage of this? Yes, but who cares? An e-book site requires little overhead, so the refunds are not adding much cost to your business compared to the increased sales you will get because of the guarantee.

Don’t kill your business by lowering your prices. If you are offering quality, charge accordingly and provide proof of your credibility.

Your comment

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

Related posts

0 like 0 dislike
0 comments 172 views
0 like 0 dislike
0 comments 152 views
0 like 0 dislike
0 comments 62 views
0 like 0 dislike
0 comments 95 views
0 like 0 dislike
0 comments 51 views
0 like 0 dislike
0 comments 47 views
0 like 0 dislike
0 comments 65 views
0 like 0 dislike
1 Comment 53 views
0 like 0 dislike
0 comments 92 views
0 like 0 dislike
0 comments 145 views
0 like 0 dislike
0 comments 86 views
0 like 0 dislike
1 Comment 126 views
0 like 0 dislike
1 Comment 48 views
0 like 0 dislike
1 Comment 49 views
0 like 0 dislike
1 Comment 43 views
0 like 0 dislike
0 comments 74 views
0 like 0 dislike
0 comments 83 views
0 like 0 dislike
0 comments 47 views
0 like 0 dislike
0 comments 97 views
0 like 0 dislike
0 comments 55 views
0 like 0 dislike
0 comments 72 views
0 like 0 dislike
0 comments 85 views

Thank you for being a part of our awesome business community.

Here is the list of things you can do with us to grow your business.

  • Explore and share business tips, guides and resources
  • List your company
  • Visit learning center to browse tutorials
  • Build your personal and business profile
  • Post your resume to attract employers
  • Explore and post jobs
  • Explore and publish people's profiles
  • Ask questions and get anwers
  • Explore and publish webinars
  • Explore and list magazines

and more...

1,008 posts

605 comments

1 comment

23,472 users

Connect with us:
...