Unique Pricing Twist to Raise Your Profits

by Gary Huynh

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Published on this site: January 2004 - See more articles from this month

Use this strategy to turn a non-buyer into a high paying buyer!

One of the single biggest problem when selling a product is what price to choose.

You don't want to price your product too high and not have people buy, but you also don't want to price too low or you'll lose out on potential profits.

What you can do is offer three price options - low price, medium price and high price.

I set the low price at a price lower than what I would sell the product for if I only had one price option. That low price should be very appealing.

The middle price is set at $20 higher than the low price and the highest price is set at $20 higher than the middle price.

So my price structure would look like this - $27, $47 and $97.

People who order the low price option would only get my basic product. That means, if I'm selling an ebook, they would only get the ebook.

People who buy the medium price would get my ebook plus resell rights so that they could sell the ebook and keep all the profits. They would also get some more bonuses.

People who order the highest price would get master resell rights with loads of bonuses added on. That means they could sell my ebook and also sell the resell rights to my ebook.

The thing to remember is that the lowest price now looks very appealing compared to the highest price. People who would not otherwise buy your product if it had a single price option now see it as a bargain and will buy.

If they're going to buy your $27 version they might consider buying your medium price and getting a lot more for just $20 more.

You can help them make their decision by wording your ad copy in such a way as to show them how much more they're getting for $20.

Here's a powerful twist to gravitate them towards the higher priced version. Tell them that they can get the resell rights for $20 more or the master resell rights for $70 more.

If they decide later on that they want to buy those rights, they will have to pay 3x or 4x as much.

A ha, now you've got them cornered. You've just turned a non-buyer into a person who will pay $97 for your product.

This strategy works because people don't like to buy the cheapest version of anything. For just a little more money, they could get the grand piano instead of the electronic keyboard.

If you use this strategy, play around with the pricing structure. Make sure that you're adding a lot more to the value of the product each time you raise the price.

You can use this strategy on just about any product you sell. Be creative and give value. Create a sense of urgency and a possible missed opportunity.

Gary Huynh specializes in using creative and unique ideas to build his internet business in the quickest time with minimal work. View more of his articles and get his fr~~ rebrandable e-book at www.rebrandprofits.com.