Tuesday, October 29, 2013

Sales Tips Series Part 4: Inflating Your Prices to Make Room for Volume Discounts

Welcome to part 4 of this fabulously exciting Sales Tips series! Check out previous tips:
Alright! You've sold them something. Now sell them more!!!! (I'm just starting to incorporate this concept/technique into my business. Exciting!)

  • Increase your prices so you can offer volume discounts for larger (bulk) purchases. 
  • Just to clarify, we are not discounting the value of our artwork. I'm not saying you should sell a $100 print for $75 so someone will buy it. I'm saying put a $125 price tag on the print so if they buy a second print you can offer the second for $100 and reward them for being a very supportive wonderful loyal customer. 
  • Raising prices but offering volume discounts encourages sales but still ensures you make the money you need — we can't just cut prices in half and pay the bills.
  • This technique is especially effective on small items like the fabulous accordion books. The accordion books are a great way for people to get lots of images for quite a great price (especially if they buy in greater volume — think price per image, people — it's going down down down!)
  • You can sell more products more easily and make more money because they're getting more images for their money and thus they're more willing to spend more money. (now more sounds like a funny word lol).