Regardless of what your selling or how your selling it the prospect must see the value in your item before they make a purchase. It must be our goal as marketers and sales professionals to build that product value. Building value in a product should be done gradually throughout the presentation leading up to the price. It is important to realize that the prospect’s willingness to buy or “Impulse” will drop as soon as they see or hear the price, regardless of how much value you have built up, the impulse will drop, it is inevitable. Knowing this fact, we can hit the negative head on and insure that the customers impulse is raised again after the price by using hot spots or what I like to call “Bulletts.”
What is a bullet? Bullets are concise advantages to a particular product or service that set it apart from a competitor. Bullets can be anything that is included at no extra charge, an extended warranty, a resale right, a free support system or update even a free gift if you “Buy it now.” Bullets can be a part of the very same product that you just hadn’t mentioned yet. Bullets are the main reason that infomercials are successful on television. Have you ever seen an infomercial for something like a potato pealer or something similar? They spend 30 seconds explaining how durable it is, how long it will last, how many delicious potatoe recipes you can cook with it and gradually build up your impulse till your ready to buy. Then they hit you with the price …..Only $19.99!……. The customer’s impulse suddenly drops, but having predicted the drop, the marketer now says “But if you ACT NOW we’ll include a second potatoe pealer absolutely free!” thats two for the price of one. They begin rebuilding the impulse and even throw in yet another bullet ….. “But wait! If you call in the next 15 minutes we’ll include this handsome set of 12 Chef’s Knives at no additional cost!” What a value!!! The customer was willing to pay $19.99 for just one potatoe pealer but if they call now they’re going to get 2 pealers plus a set of professional chef’s knives. Out comes their credit card and in come the sales.
Never underestimate the power of impulse. The reality is that the marketer in the example above was trying to sell a set of knives that included 2 potatoe pealers. He cleverly built impulse on just part of the package and then hit you with the price. He anticipated the impulse drop and rebuilt it by simply throwing in the rest of the same package. This method works as long as the bulletts are not over exagerated. What I mean by that is, don’t throw in so many bullets that the product seems unrealistic or in the eyes of the customers it will become “too good to be true.” You should evenly balance your bullets throughout the presentation and definately dont shoot off all your bullets before the price, that just leaves you out of ammo.
To your success,
Omar
