Orangeville ON (James Doan) In a consumer survey reported in AdWeek, the top reason for repeat purchases was “it’s worth the price.” Respondents felt there was a decent match between the cost and the value received.
You might think the calculation of cost versus benefit is beyond your control as a marketer. Actually, there is much you can do to influence that assessment by shoppers and customers.
First, understand that people may not know or remember what competitors charge. If this comparison puts you in a good light, let people know before they buy. As they continue to do business with you, show how you stack up price-wise.
Second, choose what you compare your value to. For instance, don’t call a $49.95 PDF report a “book.” Instead, compare it to their cost of commissioning the information themselves. Or the cost of mistakes the report prevents.
Third, offer enhanced products or service options. These will make your regular plan seem even more of a great deal.
Finally, call attention to little extras you provide that you don’t charge for. Sometimes these inspire gratitude far above their weight!