It can all be in the way you present your offer!

Whether selling a product or service, if you have a desired outcome you want to achieve, often you can lead your client to that outcome by the way you present the options.

Typically, people will be influenced by what they see as being the best perceived value, so the challenge for the seller is to create that value. Consider the following example, using a car valet service:

Business A Price List:

Car wash:              $59

Wash & Vacuum: $85

It is hard to tell if the Wash & Vacuum is good value as the cost of a vacuum only has not been quantified. Without the creation of perceived value there is no motivation for people to upgrade if they only came in for a car wash.

Business B Price List:

Car wash:               $59

Vacuum:                $39

Wash & Vacuum: $85

At Business B, the Wash & Vacuum looks very good value as they have created perceived value by giving a price for a vacuum only. All other things being equal, Business B is more likely to sell the Wash & Vacuum than Business A, despite their pricing being identical.

There will be those that only ever wanted a car wash, or always intended to get a car wash and vacuum, but a percentage are likely to be subject to influence, if they feel that there is a great deal.

Business B has done two things to enhance their chances of selling the Wash & Vacuum package. Firstly, as mentioned they have given a price for vacuuming, which shows a discount when you get the combined package. Secondly, they have made the cost of adding a vacuum to a car wash, not that much more. The closer the gap between the base price and the combined price, the more people who were just coming in for a car wash, will upgrade to the combined package!

If the combined price were $90, there would still have been a $10 saving, but it would require people to spend 50% more than just for a car wash. With a combined price of $85, it is only $25 more than the car wash further enhancing the odds of people being persuaded to spend more!

So, when you are preparing the price list for your business, consider what you want to sell the most of and structure your pricing to show that product/service as being the best value. It doesn’t mean you have to drop its price, but rather add in other options to create that perceived value.

Related articles:

https://msofmarketing.com/use-images-to-sell/

https://msofmarketing.com/how-to-sell-on-value-not-price/

https://msofmarketing.com/solving-internal-and-external-problems/

https://msofmarketing.com/how-to-use-numbers-to-your-advantage/

https://msofmarketing.com/customers-can-be-unforgiving-and-businesses-can-be-arrogant/

https://msofmarketing.com/win-the-relationship-not-the-deal/

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