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Another reason why we buy things is because of value.
I once heard a friend of mine tell a story about her immigrant grandmother. Her grandmother came home with two pairs of jeans that didn’t fit anyone in the entire family. My friend asked her, “Grandma, why did you buy these jeans when no one can use them?”
Her response? “They were such a bargain - I saved more than $40!”
The point is this: we all love a good deal. We buy things because they are valuable to us.
Now, there are two basic ways that we judge value…
1. Quantity. Two for the price of one. Buy one get one free. Free medium drink with any hamburger order. Extra value meal. Free installation with any satellite purchase. Thirty days free to new members. These are all ways of providing MORE quantity for the same price. And that, in our estimation, is a determining factor in how valuable something is.
After all - what’s more valuable: A large pizza for $14.95 or a large pizza with a free 2-liter coke for $14.95? Obviously the free 2-liter coke adds more value to the order. That is a quantity increase. And it prompts us to order, simply because it is more “bang for the buck.”
In direct marketing it was a collection of THOUSANDS of “money making reports.” Online, it’s a collection of dozens of “ebooks.” Neither of these usually has a lot of useful information in them — but there sure is a lot of them! And many people buy because of the sheer volume they represent. It just sounds like an awful lot for the price tag that is attached.
2 Quality. The other measuring stick of value is quality.
Let’s stick with pizza as our illustration. And I’ll give you a personal example. There is a pizza buffet that sells “all you can eat” for $2.99.
That’s an incredible price. And although I have eaten there from time to time, I eat much more often at Pizza Inn. Pizza Inn costs about $6.99 for that same “all you can eat” buffet.
Why would I pay over twice the price for the same amount? Because Pizza Hut’s food tastes much better!
I pay a premium because of quality. There are many things that are more valuable to me, simply because they are better. Sure, I love a bargain as much as the next guy. But, at the same time, I won’t spend my hard earned money on something that isn’t really all that good. I would rather pay more to receive something of higher quality.
A guy that I really respect online, Paul Myers, recently released a new product that consists of only 30 pages. He sells it like hotcakes for $24.97. I’ve read it. It’s worth every penny. Much more valuable than the asking price. That’s quality.
And quality sells. We make purchases because we see some kind of value - whether quantity or quality. Give us either and you’ve most likely got a customer. Give us both and it’s a done deal.
This goes back to what I’ve said before if your website is just text on a page with no graphics, perhaps just a big, fat red headline with your copy set in the Times font people will not get sense of value from the way it looks. Apart from that a website without graphics is just being plain lazy! It’s all about the perception of your offer in the eyes of your visitors.
Increase your website sales by 275% or more...
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