4 Ways To Add Value To Your Product
Posted on 14th December 2021 at 10:51
A useful method of increasing your sales is by adding value to the product itself, and there are several ways to do this. If a customer can see that they are getting more for their money, you are more likely to get a sale!
Here are a few tips on how to add value to your product and boost your business in the process.
If you're trying to proactively increase your business sales, we also have blogs about how to boost your sales with psychology and how to drive traffic to your website - click on the links to give them a read!
This is a widely used method for a reason. If a lower price is only guaranteed for a short while, most people jump at the chance to get a deal while it’s still there.
This method offers higher value for the product (by selling it at a lower price) but only for a certain time. This is a good method for hooking in customers who have considered purchasing but haven’t yet done so.
Be careful, however, not to overuse this technique. Most customers will get fed up if they notice that new sales constantly reappear as they may feel duped!
Making customers feel special can be a great way of getting them to repurchase.
Examples of exclusive deals for VIP customers could include:
• Early access sales
• Exclusive discount codes
• Pre-sale promotions
• Free digital downloads or resources
• Loyalty schemes
• Exclusive offers for related products
When it comes to customer testimonials and reviews, you’re adding trustworthiness and credibility to your product.
People purchase products or services because they have a problem that you can solve – having testimonials helps people visualize how your product could help them.
You can be creative with testimonials – if you find a previous customer who is willing, you could create video or audio testimonials for social media. That way, the testimonial is from someone your customer can relate to. The extra effort will pay off in terms of future sales.
The point of bonuses is to add something that makes your premium price more justifiable.
Some examples of bonuses could include:
• An accessory to use with your product
• Second item at a reduced price
• Free gift with purchase
• Free electronic resource
• Reduced payment if you sign up for a longer service subscription
The best bonuses are things that fit the tone of your original product and make sense alongside it. If you were going to buy this product or service, what would you like to have with it?
Adding to the value of your product is a great way to justify a slightly higher price. Even simple added bonuses can increase your sales. Adding value to your product can be just enough to win round an undecided customer – allowing your business to continue to grow!
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