Perceived Value: The Secret to Higher Prices and Increasing Sales by BusyBusinessPromotions com

https://busybusinesspromotions.com/seoarticles/raise-your-prices.php Perceived Value: The Secret to Higher Prices and More Sales by sales psychology expert and creator of the actionable video analysis for increasing SEO and Sales J. Richard Kirkham

https://busybusinesspromotions.com/seoarticles/seoandsalesvideoanalysis.php

It's not how much the product costs; it's what your prospective buyer thinks it's worth. You can always tell when a business owner has had no sales training. The first thing the untrained business owner thinks is the cost of the product has to be lowered. NO! The perceived value of the product must be raised! Let me explain….

It doesn't matter how much a product or service costs as long as the perceived value of the product or service is higher than the cost.
In other words, you can sell anything for however much you want to sell it for as long as the perceived value is higher than the price.
Some of you just had an epiphany (a wake up call), while others are trying to figure out how this can be wrong. It's not wrong. We all buy things every day in which we understand the perceived value. From a candy bar to dinner out. We all know the cost and accept that as the perceived value.

There are two ways to have a higher perceived value than the cost of the product or service
Lower your price
Lower the price until your ICP (Ideal Customer Profile) would believe your product or service is worth it.
This is almost never sustainable by the business owner. The new customer or prospective customer doesn't understand the expense in the backend of your business.

Two for the price of one
This is basically another way of lowering the price. It's good for specials but not as a sustainable method of selling. In other words use it to get new customers. After the prospect becomes a new customer however, he/she must still be sold on the perceived value being higher than the normal cost of the product or service.

Increase the perceived value of your product or service until the perceived value is greater than the cost for your prospective buyer.
There are several ways to increase the perceived value of your product or service

Offer bonuses
This is often done by experienced affiliate marketers.

"If you buy from me for a limited time, I'll also include this widget valued at $1,000,000 that takes your dog for a walk."

Experience increases perceived value
I once had an in home tutor in Honolulu Hawaii ask me for advice on a parent that always tried to get her to lower her price. I told her to say to the parent, "For that price you could hire a college student. I'm sure they'd appreciate the experience."

The inference being the tutor's experience had value and hiring a college student for her own child wouldn't be as beneficial as someone with tutoring experience.

Uniqueness or rarity increases perceived value
J, Richard Kirkham B.Sc. is one of the few SEO experts with a strong background in sales psychology. He will not only increase targeted traffic to your website, he'll also increase your sales with the traffic you have now!

https://busybusinesspromotions.com/seoarticles/seoandsalesvideoanalysis.php

I still remember this story of a door to door vacuum cleaner salesman who made over $100,000 per year.
This was, to me, an expensive vacuum cleaner. Perhaps because I don't understand the perceived value 😁. Salespeople would get to the price of the vacuum after building it up with all the attachments and features. When the prospect said no, the salesperson would remove features and lower the price of the vacuum cleaner.

This is what this vacuum cleaner salesman did differently to make over $100,000 a year….
He started out with just the vacuum cleaner, building up the perceived value with quality, warranty, etc. When the prospect said no, he began ADDING ATTACHMENTS! Thus building up the perceived value of the vacuum cleaner AT THE ORIGINAL PRICE of the vacuum cleaner!

Do you see the difference in the amount of money made on commission?!
The first method reduced the perceived value and value of the vacuum cleaner, selling it for less and earning less commission.

The second method built up the perceived value and value of the vacuum cleaner at its original price, thereby earning a commission on the FULL PRICE of the vacuum cleaner!

Would you like to increase the perceived value of your product or service?
Of course you would! I finally have some opening to do a video analysis of your sales and SEO techniques for your website. This is a great way to have a person, weird enough, such as myself, to have expertise in both sales psychology and SEO. 😁 If you want change and to make more money, you have to do something different. I'm that change and different one you want.