So how can you charge more for your services? How can you increase your price tag and still have customers lining up to buy from you? One easy way is to change your offer from a simple product/service to a done-for-you offer. What does this mean? Check out this example below.
Say, instead of charging $5 to write an article, you instead charge $497 to $997+ to write five articles, create a blog, post the articles up, optimize it for their keywords, and have a custom graphic or two. If you were to outsource a $5 article for $3, the first example only gives you a $2 profit, or if you were to write it yourself, you'd be trading $5 for 30 minutes, at best, of your time ($10 an hour on the higher end if you’re super fast). However, if you were to offer the second, more premium example, you could outsource the articles for $15, allocate $10 for some custom graphics on Fiverr.com, and put in $25 to $50 to outsource the custom blog with SEO (blogger.com blogs, for instance, can be made in a matter of minutes). That's a raw cost of $50 to $100 for a $400 to $950 profit. Or, if you were to do the work mostly yourself, you'd be talking about maybe 3 to 5 hours of work, easily putting you in the range of earning $100 to $200+ per hour compared to $10 per hour just selling a $5 article.
So, see what you can add to your offer, or bundle it with, to make it a more premium offer. Or, look at how you can make your offer more “done-for-you.” and price your offer respectively. The kicker is that more people like to buy a premium offer than a basic offer, as it's more appealing and more "done-for-you" than just an item that they'd have to do all the rest of the work on themselves. And less people offer premium services/offers, so you're competing against less.
This doesn’t just apply to services either, as the same can be done for almost any kind of product out there. For instance, instead of just selling a book on how to lose weight, you could also sell a product or program that gives them daily exercises either through e-mail, a mobile app, software, etc.. So instead of someone just reading how to lose weight, you can make it more easy and “done for you” by literally giving them a way where they simply have to follow the daily tip. Or instead of selling a 50¢ apple at a gas station, one could sell a pre-sliced apple with caramel dipping sauce ready to go for $4+ (even though the raw cost is only a tinge more than the standard apple).
One great example we’ve done is instead of selling a course on how to rank on search engines and get traffic, which would be a challenge to sell even in the $25 to $50 range, we created software that helps do a lot of those tasks for people. And instead of having a challenge of selling a course for $25 to $50, we can charge $997 / year to $2,997 / year much more easily. We’re able to do that because it’s more “done for you” and involves far less time for the end user.
A similar example outside of software was with a real estate investing instructor that we know of who at one point sold several courses on how to invest in real estate. Most of these courses originally were on the lower end of the price point, but she was able to turn those “books” into “webinar trainings” and online courses and charge closer to $997 on up, but she didn’t stop there. She was able to partner with one of us to create software that helped do what she was teaching and sold it for around $4,000 a pop. But she still didn’t stop there. She then took all her teachings and tools and basically made an offer that would be as hands free as possible for the user. That was accomplished by setting up an offer where you’d be able to purchase a $25,000 package where you’d get on a bus with others, tour dozens and dozens of homes in a day that they already did the math on and knew were awesome deals, and then be able to make offers on the spot with bankers, agents, mortgage brokers, etc. all right there with you in one place. Granted, this wasn’t for the average mom and pop investor, but for some big investors, including overseas ones looking to take advantage of the U.S. market at the time, this was an opportunity to jump into it as hands free as possible. And they were willing to pay for it.
An interesting twist on making any offer more premium or done for you is that it doesn’t have to always start with your own product or service! You can find existing service providers or products out there, see how you can make them better / more “done for you,” and then try to either form a partnership with them or just use the outsourced provider to fulfill the work for a service. A few simple tweaks to their package / offer and sales pitch can turn a $5 offer into a $500 or even a $5,000 one without even having the need to make your own offer from scratch!
Now start looking at how you can apply this to your business. How can you make your offer a premium or “done-for-you” offer by adding more things to your service or bundling your products together to give more value? This then allows you to increase your prices substantially, your premium pricing reflecting your premium product.
Now you have ideas for a premium product, need help getting leads to sell this to? For help with how to get leads to promote your product or service to, check out this cool tool: Domain Lead Pro.
Making huge gains in traffic on your website and social media accounts is excellent, but what matters the most is generating conversions. There is no use in spending a large amount of money on extensive marketing campaigns if no one is buying your product or services or signing up for your website.
Looking for new customers? Or a way to make a whole bunch more sales? You’re going to love this strategy then! Think about other business that you could partner with, that you don’t directly compete with, where you could offer value that will make you both a lot of money. Think about the customers a business already has, and whether those same customers would be interested in your own product or service. Now, think of how you can make your offer a win-win for you and the other business. This is a great way to access a whole new database of potential clients for yourself, and give the business you’re partnering with an opportunity to upsell their current clients by offering them your service (for a cut of your fee).
People often overlook this very simple, very easy way to increase their business’s profits: increase your prices. Most people tend to undercharge for their services, so try increasing your prices, as a test, and see what happens. Funnily enough, most people perceive something that is higher priced as being of higher quality, which can encourage people to buy your product or service. As you increase your prices, you’re also receiving more per sale, increasing your profit margin. Take this strategy a step further and target higher value clients.
There’s only so much time in the day, and although it can be a great idea to add extra services that you sell and fulfill yourself, it’s not always practical. This is why it can be a great idea to look for other services or offers that you can sell yourself but easily outsource to others to do with little to no work on your part.
One way to show value and highlight the great price you’re offering your customers is to point out when you are giving a discount or savings, as this lets customers know you’re giving them a great deal and lots of value. A discount also has a psychological effect - we feel we are getting a better deal and are more likely to buy. Seeing that an item is discounted not only is an incentive to buy it now, it can also encourage new users to buy that might otherwise have not considered it.
Every entrepreneur is well familiar with the importance of marketing in today’s era of extreme competition. Marketing through various channels has become essential to make sure a business is able to thrive in the market. Without a proper marketing strategy, a company will not be able to gain new customers and expand their reach.
How can you encourage customers to make their second, third, and fourth purchase with you? How can you entice them to keep coming back and buying from you, changing them from a once off customer to a regular? Future-use coupons are one great strategy to employ to incentivize customers to make that next buy.
Sometimes it’s hard to see the benefit of something we haven’t seen in action or tried first. Offering a free trial period, or a demonstration of your product, can be a great way to alleviate a potential customer’s fears and make them confident the product will work for them. Also, once someone has tried something free they often feel obliged to reciprocate by purchasing from you - it’s the principle of reciprocity in action.
Don’t you hate it when you’re searching for an item, find it at an amazing price, then see that shipping is going to cost you an arm and a leg? One way to increase your sales, especially over a short period of time, is to reduce the cost of your shipping, or offer a sale period time where shipping is free. By putting a time limit on when you make free shipping available, you add a sense of urgency, encouraging customers to buy now, as opposed to at a later date. It’s also a good way to encourage customers who may have been on the fence to make a purchase now.
It takes a while to understand that social media sites are developed for more than just entertainment and de-escalation of boredom. You can make money through social media without selling anything. These platforms are, believe it or not, perfectly designed to be used as money-making machines. It may take you a little time and a lot of effort to get recognized by other social media users. You'll need to build an image and audience on social media. You'll need to build an audience and engage in an effective social media content strategy. Over time, as your audience grows and you accumulate more and followers a number of new income opportunities may open up to you, and you'll never have to create a store or start your own business if you don't want to. Once you have a substantial audience, here are some ways you can make money with your popular social media account:
In many cases it can be a wise idea to offer multiple similar packages when selling something. However, instead of offering drastically different offerings, which might make your prospects hesitate more due to not being sure which option to get, you can offer similar options where the “value buy” seems like an amazing deal.
So how can focusing on the benefits of your offer increase your sales? It’s a marketing technique that encourages customers to focus on the end result that your product will give them, which is a powerful motivator to encourage customers to buy.
Want a way to make sales without paying for any ads and with zero risk of losing money in doing so? The obvious answer is a big YES, but very few business owners take advantage of running their own affiliate programs, which can do exactly that!
Most businesses tend to practically ignore their prospects and even their best clients. This is a horrible thing to do, as you’d be leaving a ton of money on the table in doing so.
One common and popular phrase that has stood the test of time is "content is king" why? Because it has remained true despite hundreds of other factors like SEO practices, social media, and many other modern trends influencing online businesses and marketing. SEO experts have begun to adopt the philosophy that content is the most crucial factor of the ranking of any website.
How many of us wish we could find out the domain owner of a website, but we end up finding the host instead of the original owner? Sometimes we find nothing at all. A popular domain can be a precious treasure, but before you begin your hunt, you'll need a clear purpose in mind. Work out the what and the why that surround your need for this domain, and then ask these two important questions:
There’s many strategies to increase conversions, but have you tried this one? Try ending your prices with a 7, .95, 5 or .95. Instead of charging $10, for instance, consider charging $9.97. Even though it’s only a few cents less, people seem to think that it sounds cheaper. Even on high priced items the same tricks can work. For instance, you’ve probably never seen a car advertised for $30,000. Instead, you’ll see it advertised for something like $29,995.
In terms of cost-efficiency, the most crucial method for attracting traffic to your website is through organic searches. They allow you to reach people who don't even know about your site initially but are searching for a specific product or service related to your website. The primary factor of the success in organic searches boils down to the ranking of your website on search engine results pages (SERPs).
How items are described and the words we use to frame situations can have a big impact on how we then think about a scenario. Just as saying, “I cut my finger, but there’s only a little blood” versus, “I cut my finger and there’s blood everywhere,” paint two very different pictures, the words you use to describe your pricing can make a big difference to your sales. Something as small as just putting the word “only” before your pricing can increase your sales.
What is a Ranking in SEO?
Anyone who owns a website and publishes original content on it wants to see the site ranked higher on Google and other search engines. While many may believe that writing a top-quality piece of content, publishing it, and promoting it is enough to make the website successful, it is certainly not. In this era of fierce competition when thousands of websites are competing for the same kind of audience.
A sense of urgency can be a great motivator, both in encouraging a sale and in life. To use urgency in business, look at offering limited time deals, especially ones that don't last more than a few days tops. And if you have an e-mail list, mail them a lot more on the final day with reminders to the deadline. You'll often get most of your sales on the final day! Countdown timers can be another great way to emphasize this. The idea is similar to furniture stores that seem to always have sales that end on the weekend... even though we all know they'll probably have another sale in a week or two, we're more likely to buy now if we think there's a sale on it now vs. later. People like to procrastinate, so limited time deals can get them off their butt to take action.
Businesses of any kind can be quite challenging. There is a lot of saturation and variation in different industrial sectors. It all requires careful research and cautiously formulated strategies. To ensure the success of your business, it is necessary to make your brand stand out from competitors through effective promotion strategies.
Instead of waiting for leads to come to you, go to them! Many people just build an opt-in page or a squeeze page and wait for leads to sign-up or reach out to them - so instead of waiting for people to find your store and buy from you - actively go out and find prospects.
An attractive and engaging Facebook ad is the result of a combination of effective strategies. No advertisement can be declared to be perfect as some ads work better than others due to various reasons. The competition in the Facebook ad market is becoming intense. More and more people are realizing the power of this social media giant and hope to utilize the platform to advertise their products and services.