4 Pricing Strategies for Boosting Sales
Right price can help you sell more products and service. Most customers care for the right price for their purchase.
HubSpot writer Arash Asli has shared four pricing strategies that can help marketers make more sales.
Asli says, “Strategically framing your prices. It doesn’t matter if you are operating in the luxury market or if your product is as cheap as chips, it’s how you frame those prices that will influence prospects and accelerate your close rate.
1) Position Time Over Money
Regardless of the price of your product, whether it’s $1 or $1000, focusing on “time” over price can boost sales and customer satisfaction.
“Time” might equal the promise of frequent and long-term use or hours of the buyer’s life they’ll get back. According to a study from two Stanford Graduate School of Business researchers, highlighting the experience someone will have with your product is key.
They used three different signs to advertise a lemonade stand — one that mentioned time, one that mentioned money, and one that mentioned neither”.
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