One of the most challenging areas of selling products or services is determining what price to charge. Oftentimes business owners will set a price they may not be truly be comfortable with so they offer a discount to make the sale. This strategy means they are giving away their profit margin. If you find yourself doing this, stop right now.
Instead, what you need to do is find a price you are comfortable with. If you have taken time to study your audience and the market, you should have a pretty good idea of what your audience will pay for your product or service. When you set a fair price, you can be confident in it. This allows you to better defend your price so you don’t take a loss.
Questions you might need to address:
- Why is it so cheap?
- Why is it so expensive?
- Which is more important to your reader, price or value?
- Why your reader can’t afford to pass up the offer.
One way to justify a price is to compare your price to other products or services your readers use regularly. “Less than your daily Starbucks coffee”
Another way is to remind readers how much their problem is costing them (in time, money, happiness, etc.). “Continue to live your life indoors or spend just $50 to block those harmful sunrays and start having fun in the sun.”
Here are some more ways you can justify your prices.
- You could eat take-out tonight and be satisfied until morning or you could buy this and _____ (fix your problem permanently).
- It’s actually way more than “just” ________ (an ebook or?). You’re getting ________ (a complete system).
- Buying this from _____ would cost you _____, but get it here, right now for only_____. You get the same solution for less money.
- Would you trade ________ for __________ (a $5 cup of coffee for a report that will show you how to make money for the next 5 years)
- We offer this at such a low price because ____________ (we write it ourselves, we don’t outsource, we don’t advertise, etc.) and we pass on this savings to you.
- We’re offering this low price only during our launch. It will be increasing soon.
- We are offering this at rock bottom prices because we love giving back to ____ (the community, fellow marketers, etc.).
- You can find cheaper options but __________ (they aren’t the high quality we offer, the service sucks, they take longer to fix the problem, etc.)
- What is it worth to you to ____________? What is going to bring you more value in the long run?
- If you don’t take advantage of this offer, you will have the same problem tomorrow and every day thereafter.
- It’s a complete system. There’s no need to buy anything else.
- Buying each piece separately would cost you ________.
- Don’t settle for an inferior product when you can __________.
- Get in on this for just __________ per day. You can’t buy a ______ for that price.
- No other _____ gives you more _________.
- We’re offering _____(twice) the amount of information than any other source.
- You can waste your hard-earned money on ____________ (something silly) or you could spend it on _______ (your product/service) and get ____________ (benefit).
- These items are exclusive, they cannot be found anywhere else.
- You can choose the cheapest or choose the best.
- You can choose the cheapest or choose the one that best meets your needs.
- Isn’t it better to pay a little more and have _______ (peace of mind, unlimited access, etc.)
- Would you rather have _____ (what one competitor offers), _____ (what another competitor offers) or both (what you offer).
- ______% less expensive than our competitors.
- Are you going to settle for less than __________?