Tag Archives: pricing

Offering Instalment Payments Increases Sales & Profits

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Offering Instalment Payments Increases Sales & Profits

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Offering Instalment Payments Increases Sales & Profits

One Way To Make More Business Profits is to Consider How Offering Instalment Payments Increases Sales & Profits

The video below explains this in more detail but essentially if you let people pay by installments they find the cost more affordable .. even if you charge more for this facility.

The thing is they anchor the cost on the installments cost and not on the total cost. I know it sounds weird but its a fact.

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How Offering Instalment Payments Increases Sales & Profits

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If You Have to Choose Between Full Cost and Instalment Plans … the Latter Significantly Increases Sales & Profits

It’s another Price Anchoring Effect .. or at least a spin off.

See the video for more info.

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Pricing Psychology: How to Use Number Facts to Increase Sales

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Pricing Psychology Can be Used to Increase Sales. The Technique Described in this Video Uses the Psychology Surrounding “Number Facts” to Maximise Sales

Research shows that our brains are hardwired with mathematical and arithmetical facts learnt in our first school years. This makes the processing of numbers much easier when we are presented with a limited number of related figures (operands).

The impact of sales, both on and off line can be significant if this strategy  is sensitively applied.

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Value Based Pricing Strategies for FE Business Development

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Value Based Pricing Strategies are an FHE business development strategy essential in FE Value Based Pricing is an Alternative Pricing Strategy Few FE Providers Use

Most FE Providers ignore Value Based Pricing Strategies and go for Flat Pricing with a single option. For example, a course is charged at £195 per person. There are no other options.

This is a quick and easy way to quote but it means you are going to be compared with your competitors on price. And that means someone will always try to do it cheaper and, even if you get the work, the margins are very slim.

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Negotiation Tips: Getting the Best Price

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How to negotiate with food When negotiating there are two ways to name a price.

You either publish one in advance, and lose all chances of negotiating a better deal, or you can negotiate one, where you hold the best cards.

If you publish a price on your website, or in your brochure, it becomes binding in many ways.  Psychologically the customer will see this as your maximum price and will try to get a reduction on this.  If you’ve tried to be clever, and have inflated the published price, then it might drive away many prospective customers that are initially making a search based on price.

The reality is that price is rarely the only factor buyers take into account.  So you can negotiate.

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