In a recent article about cheapskate customers , there has been a push to grab business from these folks by feeding them products that supposedly save them money.
All over the world, the shelves of discount stores are chock-full of gizmos and gadgets that supposedly save you tons of cash each year, by keeping your chips from getting stale, squeezing the last bit of paste out of the toothpaste tube, and even gimmicks that help you grow your own vegetables in the house.
Sigh… in the end, the majority of these little knick-knacks do NOTHING to help the consumer save money and do everything to help extract it even more from her bank account.
So what are you supposed to do?
What are you, an honest Underdog Millionaire business owner supposed to do to show you cheapest cheapskate customers that you have something for them as well?
Just like the article notes, you need to save them money. However, don’t try to sell them a system for recycling toilet paper or turning old socks into a down comforter. Instead, you’re going to go “Godfather” on them and…
Give them an offer they can’t refuse.
You’re going to offer your customers something so good that even the cheapest of all cheapskates won’t be able to resist the pulling power of your offer. You are going to give them VALUE.
When you provide value to your customers, the word “price” is no longer in the picture. When the buying decision of your customer is solely based on the price of your product, then it turns your business into a commodity–waters where you don’t want to tread. You need a new pricing strategy instead, and that’s where VALUE comes in.
When you pile on the value, your customers no longer look at the sticker price for your product. They look at what they’re going to GET in exchange for that price. If you can show them that they’re going to get way more value in return for what they’re going to spend, then you’ve it made in the shade.
Here are 10 examples of things you can do in order to make your product more valuable:
1. Add tons of FREE bonus material
2. Give them a discounted consultation
3. Offer a audio and video package
4. Give free upgrades to your service if they buy right now
5. Use a powerful lifetime guarantee, or a guarantee that is out of the ordinary for your particular industry
6. Large discounts off future purchases
7. Free seminar
8. The ability to try out the product or service for free for a certain length of time (ex. 30 days)
9. Purchase gains them membership into an inner circle club
10. You allow them to make money by offering a commission for each buying customer that they refer to you (once they have purchased the product themselves)
Adding value is much more powerful than competing on price. If you can add the right amount of value and then demonstrate how that value will benefit your prospect, then it’ll be like kryptonite to even the most hardened cheapskate.
Speaking of value, I might as well let you in on a little secret about my new Underdog Marketing 101 book. It’s something that I shared with the people on the notification list already, but I figured that you might be interested in knowing as well.
If you download the new book during the launch week, not only do you get the stack of bonuses that it already comes with, but you’re also going to get 4 MORE BONUSES:
1. My email mastery report- revealing every little technique that I use in my own business in order to get the most response out of email and to get those emails open and read.
2. My hidden marketing assets report- this will reveal thousands of dollars in hidden assets within your business , that you may never have noticed before.
3. My secrets of lecturing report- this reveals a priceless technique of getting new customers just by offering guest lectures at strategic locations. The developer of this technique uses only this method for a six-figure MONTHLY income.
4. Half-off coupon for one hour of small business consulting. You will get $350 worth of small business consulting for only $175 with this added bonus.
Again, these added deals are only available during the launch week and if you want to make sure that you get the most recent information about everything going on with the new book, you’re going to want to sign up in the upper right hand corner of the blog.
Your most loyal customers are fairly easy to please, but the cheapskates are a tough lot. What are some techniques that you like to use in order to promote the value of your products or services?
In your service,
Joshua Black
P.S. There’s also going to be an affiliate program available for anyone that is interested in selling the Underdog Marketing 101 book to their own customers. Any sale that you generate will result in a 50% commision for you… more on that in the near future.
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http://www.UnderdogMillionaire.com/blog
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http://www.closing-the-sale.com
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http://www.UltimateUSPcreator.com
http://www.underdog-success-formula.com
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{ 8 comments }
Joshua,
Good stuff! Your 10 methods to piling on value to make a sale to even the cheapest of skinflints is an excellent idea. Bravo!
Sometimes by having a few key stuff to target them with on an offer you might address more than one of there needs and become a really good value.
Thanks Steve,
Of course you will always have people that are just along for the free ride, but if you can add enough value to bring those “cheaper” people over the fence, those who really want your product, then you have done your job.
-Joshua Black
Well the free riders could turn into your sales force by re-tweeting and sharing your content which in turn could lead to more sales.
Great list tips! I have to keep working on my offer – so I can do a ‘godfather’ easily.
Very true… keep it coming freeloaders!
Value is the only way to go if we are going to maintain decent rates. I don’t charge huge bucks for my work, but compared to the tiny returns being offered by the content mills we were talking about over at ProCopyTips, well it doesn’t even compare! I like to think I give great value and I am now going to get a sheet of paper and write down exactly what that might mean to a prospective customer so I can clinch the sale with the Scrooge guy next time the need arises!
You go Lucy! Yes, the content mills can be very discouraging, but they do provide an income for some people. I think that it’s most important that people don’t settle for work that’s less than they are worth, but I also understand the need to bring home an income.
-Joshua Black
Joshua:
I love the list of ideas! I especially like #10. I think this option can really convert people to buyers. Teach people how to make money from your product and they might be hooked on the idea.
I look forward to your upcoming affiliate program for the “Underdog Marketing 101″ book.
- Rick
Hey Rick,
Yep, the Underdog Millionaire 101 is almost complete. Just putting the frosting on the cake, so to speak… and the affiliate program will come out soon after. Teaching people how to make money from your product is always a good route, as long as they belive that it’s actually possible.
-Josh