While it may seem like offering products and services at the lowest price possible is the right move to attract customers, offering high-value offers can be far more effective. There is nothing wrong with attracting customers with a lower level offer, but the end goal is to move your customers up your value ladder to the higher-priced offers.
A value ladder is a series of steps that your customers take when they decide to purchase your products or services. With each step of the ladder, your customers will pay more for better products. As they move up the ladder, you are nurturing them and, in turn, gaining their trust. People tend to underestimate the amount of money that customers are willing to spend. It is a necessity to make sure that your customers constantly know that you are the answer to their problems. Let’s dive into why high-value offers can make all the difference for your business.
It Validates Your Product
To run a successful business, you have to believe in the effect that your product can have on your customers. At the same time, you have to convey that constantly to your consumers. While your lower price offers are great and solve many problems that your consumers have, your high value offer should blow them out of the water. You are telling them that you have an exceptional product that is going to change their life. It validates the time and energy that you put into your business and conveying that to them, will surely make them consider purchasing it. You want to make sure that your customers are spending their hard earned money with you instead of your competitors. Move them up the value ladder by gaining their trust and then offer them something that proves you are the best in your industry and the answer to their problems.
You Attract the Right Customers
When it comes to running a successful business, your customer base is everything. Sorting through the right and wrong customers can be a stressful and daunting task. You want customers to be loyal and long-term. When they purchase your high-value offers, you know that your customers believe in your business and products. At the same time, these customers are going to see the positive effects of your product and refer your business to other potential customers. Think of high-value offers as a filter of low-paying customers and high-paying customers. You are going to know who your most loyal customers are, and you can then take the time and energy to nurture them and keep their business.
It Requires Less Leads
Lead generation is one of the most important aspects of any business. You want to have a goal of leads per month, and a well-structured plan to convert those leads into sales. While gaining as many leads should always be the goal, high-value offers can make your sales more attainable. When it comes down to it, it is just simple math. If your goal is to make $20,000 a month with a product that costs $200, you are going to need to convert 100 customers. Now, if you instead sell a product at $400, you then only need to convert 50 leads to make that goal. Never underestimate your value and the amount of money that your customers are willing to spend with you. If you gain their trust and nurture them through your products, they will, in turn, trust you and purchase your high-value offers.
Are you looking to gain more clients and form strategic business relationships? Become an exhibitor at The Event Planner Expo 2022 10 Year Anniversary.
