Entrepreneurs Why Should You Sell Low Ticket Items?
Entrepreneurs Why Should You Sell Low Ticket Items?
To interest customers in your company and product range. The will feel that purchasing a low price introductory item has less risk attached to it.
To increase foot traffic to a retail business or web traffic to a web site. Again people will come to see what they can get at such a great price.
To provide an easier cash flow as it is far less complicated to sell several low price items than it is one high price item.
To provide a natural funnel or upgrade path to your more expensive products or services. It is far easier to sell to people once they have experienced your products or services. Similarly they may want to upgrade the low ticket item to another more expensive item that you sell. You should ensure that this is easy for them to do.
To create a customer list so that you can sell more to them at a later date.
To get your business known and let the product act as good marketing.
To give customers an example of what your company can do and encourage them to come back.
To establish a good rapport with the customer so that they feel better about spending large amounts of money with you. Customers like to buy where they have been treated well in the past.
So you can easily see what benefits you will accrue from them in building up your business.
So how do you decide upon the price of your low ticket item? It should be a mixture of:
The cost of producing the item.
The cost of providing the item once it is sold.
The perceived value of the item to your buyer.
The cost of similar items that you or your competitors are selling.
The cost that you believe the market will stand.
You should also ensure that you do not under price the item so that it is seen as not worth the effort of buying. Cheaper is not always better. People like to think that they have spent well for a product and strangely feel little loyalty to companies that give things away! People think that if an item is too cheap it is not worth anything!
Entrepreneurs Why Should You Sell Low Ticket Items - To learn more about this author, visit Lee Lister's Website.
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When you first start your business, it is tempting to sell a lot of high price products, but that may not be the most profitable way for you to go. A better way might be to sell low ticket items. Low ticket items are those that sell at a low price and are primarily used:
To interest customers in your company and product range. The will feel that purchasing a low price introductory item has less risk attached to it.
To increase foot traffic to a retail business or web traffic to a web site. Again people will come to see what they can get at such a great price.
To provide an easier cash flow as it is far less complicated to sell several low price items than it is one high price item.
To provide a natural funnel or upgrade path to your more expensive products or services. It is far easier to sell to people once they have experienced your products or services. Similarly they may want to upgrade the low ticket item to another more expensive item that you sell. You should ensure that this is easy for them to do.
To create a customer list so that you can sell more to them at a later date.
To get your business known and let the product act as good marketing.
To give customers an example of what your company can do and encourage them to come back.
To establish a good rapport with the customer so that they feel better about spending large amounts of money with you. Customers like to buy where they have been treated well in the past.
So you can easily see what benefits you will accrue from them in building up your business.
So how do you decide upon the price of your low ticket item? It should be a mixture of:
The cost of producing the item.
The cost of providing the item once it is sold.
The perceived value of the item to your buyer.
The cost of similar items that you or your competitors are selling.
The cost that you believe the market will stand.
You should also ensure that you do not under price the item so that it is seen as not worth the effort of buying. Cheaper is not always better. People like to think that they have spent well for a product and strangely feel little loyalty to companies that give things away! People think that if an item is too cheap it is not worth anything!
Entrepreneurs Why Should You Sell Low Ticket Items - To learn more about this author, visit Lee Lister's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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