Why are you thinking that to sell more you have to reduce the price of your products or services? Is the product or service not worth what it costs and the market you are targeting is not willing to pay? Are you not generating the sales you would like? Your only option is not to sell cheaper.
selling-cheaper-is-not-your-only-option
The law of supply and demand says…
When the price of a product increases, the quantity demanded decreases, and when the price of the product decreases, the quantity demanded increases. The reality is that the demand for a product or service varies due to different factors, not only the price .
In the age of the Internet, information about the product or service that people need is just a click away. We find ourselves with buyers who have transformed the way they find, evaluate and decide between one product or another . As a result, there are more demanding buyers , who look for the best quality, fast delivery times, guarantees that exceed their expectations and all this at a great price.
You have two options: give in to the demands of buyers, sacrificing your profits and therefore betting on generating new customers , or add features that differentiate you from the competition to increase your commercial value . Which option do you choose? If your goal is to increase your profits, the second option is the best.
Is the product or service worth what it costs?
The answer to this question is extremely complex. First we must understand that we do not provide value, but rather the customer. Therefore, the value proposition is not what we are delivering, but what the customer perceives from us.
The analysis of the perception of value must be focused on understanding whether the product or service satisfies a need of our client and how appreciated the solution to this need is.
If the need is being met, then maybe we are not communicating the value of cyprus phone number data our solution .
If this happens, selling cheaper is not your only way out. Likewise:
If we are solving a need and the perception of value is good, we can probably increase the price.
If we are solving a customer's challenge, but they are not willing to pay, the problem is probably that we are not trying to solve the pain for the right people. In other words, we are not segmenting our market.
Is your target market not willing to pay?
So, the problem is not that you sell at a high price, but rather, as we in marketing would say, “You are not targeting your potential market.” We must understand that we are not for all clients and not all clients are for us. Who are your ideal buyers? Who do you really want to sell to? This template can help you define them .
With the template you can identify your buyer personas , the customers who are right for you, because they want your product and have the possibility of purchasing it. The next step is to increase the commercial value of the product or service. Add value to it! To differentiate it from the competition.
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