Chapter 2: Show Customers the Value
Focus on the benefit to the buyer by showing exactly what the buyer will be able to get by purchasing your product.
A well-known quotation goes like this: "I don't mind buying; I just don't like being sold." That expression rings true for a lot of Internet buyers. They don't mind buying more, even high-ticket items, if they feel they are getting more value than they're giving up. Whether it's $5, $500, or $5000, there's a buyer at each one of those price points if you, the seller, can convince him that he will get at least double his money back from the purchase.
It’s not the dollar amount per se; it’s the amount of expected return.
It's not about selling cheap, low-ticket items but about remembering that buyers always want more than they're willing to give.
You have to show them very clearly the value of what you're offering. It's the classic distinction between features and benefits. Features are things that a product can do, but benefits are what those features can do for the buyer. You need to focus on the benefit to the buyer by showing exactly what the buyer will be able to get by purchasing your product.
Today's Internet shoppers are savvy and skeptical. They’ve seen all kinds of gimmicks and scams and may have lost money in the past. With such a high level of skepticism, Internet buyers today must understand clearly what the product can do for them before they are willing to pull out their credit card.
There must be a reasonable match between the values the product is offering and the price that customers are being asked to pay. If there's too much of a discrepancy between the two, buyers will be suspicious. They’ll think either that you're trying to scam them if the price is too high, or that there must be a trick if the price is too low. You can't really blame them, because there are many Internet marketers who are employing all kinds of unethical strategies just to get the buyer to click on the Buy Now button.
But you've already decided that you're going to be different – that's good.
What can you do to help buyers understand the value in your product?
1. Show the value. This is the point we've been discussing. You must reiterate the benefits of your product so that the buyer comes to associate those benefits with your product. Use every platform available: affiliate ads, banner ads, pay- per-click click campaigns, even classified ads. Your goal is that your product becomes synonymous with the benefits that it offers the buyer. When the buyer thinks of a particular problem, you want him to think of your product as the only solution for that problem.
2. Be unique. The marketplace today is flooded with products competing with yours, many of which are almost indistinguishable. What can you do to make your product stand out? You have to find something about your product which is new or unique. People are very interested in the latest thing. No one is interested in last year's model, whether it's a cell phone, a DVD player, or car. People don't want average products, and they don't want outdated products. They want the latest thing so they can show their friends and brag on the great deal they got. You need to be aware of this tendency and market toward it. If you think you should be subtle, don't. Be bold and direct. Make sure the buyer knows what you have to offer compared to all the other products which seem very similar.
3. Offer a guarantee. Yes, it's true that some scam artists will put a "Satisfaction Guaranteed" image on their website with no intention whatsoever of offering money back to dissatisfied customers, much less answering an e-mail from a disgruntled customer. We've already determined that you are committed to be a different kind of online marketer. Giving a money-back guarantee gives the buyer a sense of reassurance when shopping on your website. If you're hesitant to give a full money-back guarantee, consider a free trial version with an expiration date, or a basic model with an offer to upgrade later to a premium model if the buyer is satisfied. The main point is that the buyer has to be convinced that you stand behind your product.
4. Be honest. There's really not another way to say this. It's true that every salesperson is committed to magnifying the benefits of this product and minimizing weaknesses. No one is asking you to do anything different. You must believe in the value of your product and be able to communicate that value to the buyer. There are so many fly-by-night websites that make all kinds of claims and then disappear after a short period of selling online. The classic golden rule is one of the best guidelines for this aspect of your business: treat others as you would want to be treated. And it's also good to remember that people communicate more openly on the Internet about the experiences they've had. You want to do all you can to protect your online reputation. The last thing you want is blog posts and forum comments with consistently critical comments about your product. That's death to an online business. Be honest, be proud of your product, and be truthful about what it can and can't do. You may lose some sales in the short term, but in the long run your business will be built on a more solid foundation.