This video will discuss Marketing Persuasion 2.0, 10 Scientifically Proven Ways to Sell More Stuff With Less Effort. Part #3
5: Here’s Why Limiting Customer Choices Increases Sales
Doesn’t it seem like the more choices you give your customers, the more likely they are to purchase? After all, if you offer an extensive array of choices, then everyone can find the product that’s just right for them, right?
Not so.
Researchers found that the more choices people have, the harder it is for them to make a choice. And when people can’t decide, they do not choose at all.
Take jams, for example. Researchers set up a table in upscale supermarkets offering samples of preserves. Sometimes the display contained six flavors, and other times it contained 24 flavors.
Of the people who approached the table with six flavors, 30 percent of them bought jam.
But when that same table held 24 flavors, only 3 percent of visitors made a purchase! How crazy is that? But we’re not here to debate customer logic, but rather to find out what customers naturally do (and don’t do) so that we can make it super easy (an absolute no-brainer, if you will) to buy from us.
How many options do you offer? Rather than confusing your customers with a wide range of options, you might consider removing redundant or less popular items to improve your customer’s motivation to purchase.
When Head and Shoulders reduced its variety of shampoo variations from 26 to 15, it immediately experienced a 10% increase in sales. (One wonders if a further reduction might improve sales even further.)
Some businesses might be able to streamline the decision-making process of customers even further. For example, let’s say you’ve got ten different informational products related to building an online business. Instead of presenting these products as ten separate things to buy, you made it a SERIES of products, numbering them in order of what a person needs to master first, second, and so forth. Think of a book series on Kindle, and you’ll get the idea.
People can, if they choose, purchase your products out of order, but giving them this format can reduce their decisions down to a simple, yes, they’ll get started at the beginning and work their way through. This would also be an excellent way to build a membership site, allowing them access to one new product each month in chronological order.
6: Here’s Why Your Bonuses Are Never “Free”
Giving gifts or bonuses can backfire if you don’t frame them correctly. In one study, the perceived value of a bonus currently being sold on the website for the full price immediately went down 30% because it was offered for free as a bonus.
People wonder if a bonus is obsolete, out of style, has a defect, or perhaps there were too many of them produced, and they’re not selling.
Even information products are disregarded as having little value when offered for free as a bonus to another product.
Worse yet, when you try to sell that product in the future, people won’t believe it’s worth what you’re asking because last month you were giving it away with another product.
And yet, the right bonuses can increase sales if they’re handled correctly.
The key is to make sure your prospect understands this bonus is indeed valuable.
Never say that it’s free, like this: “Receive a free program on ’27 ways to drive traffic’.”
Instead, word it as, “Receive our $300 course on ’27 ways to drive traffic’ at no cost to you.”
Emphasize the VALUE of the course. Provide a link to where you are selling the course right now for that money. Tell them how many people have PAID $300 for it, especially in the last six months, to show that it is still considered worth $300.
Never give anything away for ‘free.’ Instead, show the value of the product or service you are giving away at no cost to them.
I know this might seem like I’m splitting frog’s hairs, but you already know that giving away junk bonuses does not make sales. And neither does giving away valuable bonuses when the prospect thinks they might be junk.
Just remember that it is as important to prove the value of your bonuses as it is to prove the value of your product.
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