The Takeaway: Right now next to no one is buying cheapo compact cars, so anyone dreaming of unloading the Rolls Royce of your industry in the current economic climate is dreaming, right? Wrong, insists Jacob. Her take is that, with savvy marketing skills, it is still possible to sell items that are more expensive than competitors. How? By avoiding the price wars that will drag lower end competitors into the red and understanding that right now consumers care less about the luxury of the brand and more about a product’s relative usefulness. Her tips are targeted to copywriters but could be of use to anyone in sales. She boils it down to three suggestions:
- Show them how much money they’ll save. Put into real, concrete numbers how much someone might spend looking for and buying all of the services or pieces needed to get something comparable. The mattress and bedding industries do this beautifully with their more expensive products. They outline how much you’d really pay - not just monetarily, but in terms of poor sleep, nagging aches and pains and chiropractor’s bills.
- You might think you can’t afford it, but…By telling them what they expect to hear right from the start, your potential buyer will let down their guard a bit. This works especially well when you show them how easily they really can afford it. For example, paying in installments or taking action quickly to get a cheaper price are all sales tactics you can use to project your offer as an investment in themselves rather than a one-time purchase.
- Compete with the cheaper alternative. Resist the urge to put the competing product in a negative light as this will only reflect poorly on your offer. Instead, adding a phrase like “Isn’t it worth a little extra now to avoid _____ later?” is a good way to point out the quality and assurance that your product brings versus your competition.
source: bnet.com
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