Business: The Sales Process - My Succes Formula

The Sales Process - My Succes Formula

Written by Dave Origano

This process, called repparttar

sales process, is repparttar 142691

whole situation from repparttar 142692

moment that a product is introduced, to repparttar 142693

moment you have paid and received it. In that process it is quite difficult to understand why a customer buys something from you, or why they don’t.

By writing this article I want to give you my vision on how repparttar 142694 customer decides to buy, from repparttar 142695 introduction troughout repparttar 142696 payment. I want to help you understand repparttar 142697 mind of repparttar 142698 standard customer, so you can use your new knowledge for making your business more profitable.

I want to introduce you to my formula, it is repparttar 142699 winning formula that boosts repparttar 142700 profits of my websites everytime I use it. This very formula is: Pw(T) + Pa + Pb = $$$

In this formula, Pw(T) stands for repparttar 142701 pre-selling. By writing (w) good articles, newsletters etcetera, you build trust (T) with your customers. They know that you deliver good information and great products, so they are more likely to buy anything from you.

The next part, Pa stands for Product. You got to have a product that is highly in demand at your targeted market. You need to have a specific market that wants your product, and you need to reach this market with your articles and products.

Final part is Pb, which is repparttar 142702 part of repparttar 142703 formula I alter sometimes for testing purposes. Pb here stands for repparttar 142704 price of repparttar 142705 product. You need to have an attractive price to market your products with. It needs to be high enough to get any Return-On-Investment (ROI), and it needs to be competitive with repparttar 142706 other companies in your niche.

Value-pricing Strategy: "We're not The Cheapest but..."

Written by Henriette Martel-Lawson

In this highly competitive online marketplace, it can be difficult to persuade customers to buy from you when you offer a similar product to your opposition but with a higher price tag. And trying to beat competitors on price alone is a cut-throat business, very risky and not recommended. It attracts bargain hunters ready to defect to competitors for a better deal.

Using a value-pricing strategy is a better proposition because it attracts loyal customers. Why do customers buy designer-labelled clothes and luxury cars? Why are those items more expensive when they don't cost so much more to make? The answer lies in repparttar perceived value. Value is not an inherent attribute of repparttar 142689 product but it commands a higher price.

Customers do not buy features and benefits, they buy VALUE.

Value is subjective. Value is a benefit but a benefit is not necessarily of value to all customers. For example, a vendor offers free installation and free updates for his software. Customer-A considers "free installation" as "value"' because he has no technical knowledge and this will save him time and effort. Customer-B rates repparttar 142690 free installation as "nice to have" but repparttar 142691 drawcard or "value" is repparttar 142692 free updates that will save him money in repparttar 142693 long run. Customers do not assign value to repparttar 142694 same benefits.

Behind value-pricing strategies there are a few important concepts:

- Customers are value conscious rather than price conscious e.g. some customers will pay extra for prompt delivery. - Customers assign a personal value to a product or service e.g. a teenager is willing to pay a premium price for a concert performed by his idol. - The selling price is based on customers' perceived value rather than on repparttar 142695 vendor's costs e.g. an ebook costs less to produce than a paperback but readers will pay more for it because of repparttar 142696 value placed on format and instant delivery.

When customers evaluate competing products, they are usually comparing value. To increase repparttar 142697 value of your products, you can either add benefits or reduce repparttar 142698 perceived risk factors rather than resorting to reducing your price.

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