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Words That Sell| Article #72 : 10 WORDS THAT SAY BUY – PART 6

In this installment of "10 Words That Say BUY!!!" we're going to concentrate on a word pair that has made the online and offline world run for a very long time. The words are discount and sale.

Let's face it. One of the biggest shopping days of the year is the day right after Thanksgiving, or Black Friday. Why is this such a big shopping day? Because just about everybody and their grandmother is running a sale. And not just a sale, but a HUGE sale. I mean, they're practically giving everything away. The discounts on items run anywhere from 20% to 75% off. Sometimes you can see discounts even bigger than that. Car dealers have a field day on Black Friday. Why?

Because people want to get more than what they're spending for it. If they know something is "worth" $100 and they know they can get it for $50, even if it's not something that they "really" need, they will probably find it in their budget to make the purchase. Why? Because they know they will probably never get the chance again. At least not for a very long time anyway.

So, how do we, as Internet marketers, take advantage of this fact? And make no mistake about it. This is a fact of sales. People are always looking for a bargain, discount, whatever you want to call it. Understanding that is the first step to taking advantage of it. How?

For starters, if you're thinking of selling your own product online and haven't begun yet, think about the value of your product. How do you do this? Compare it to the prices of other comparable products. Once you have a figure planted firmly in your mind, write it down. That is going to be the price that your product would "normally" sell for. Now, think about what you as a buyer would feel is a good bargain for that product. Write that price down as well. That is your sale or discount price. Maybe you might feel it's too low at first. Fine. Test it out. How?

This is where you're going to have to do some experimenting. Initially, you may make a few sales that are below what you want to charge, but ultimately you will eventually arrive at a price point where you can give a small enough discount and still make additional sales because of it. Keep changing the price in the initial stages of selling your product until you are comfortable with the number of sales you're getting in relation to the price you're charging. Remember to include the "original" price on your website, even though there really wasn't an original price. In this case it will be the price you think the product is worth.

For those already selling a product, simply go through the same process for determining a sale price. You already have your "regular" price, so half the job is done. Eventually, you will arrive at a sale price that will bring you enough additional sales to make up for the reduction in cost.

Customers like sales and discounts. So give them what they want. In the long run, you'll probably end up making more sales because of it.

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