If you take a stroll at different e-commerce stores, you will find that every online store has put out the best discounts possible to lure in more customers.
It is generally believed that the cheaper the price you offer, the more the shoppers will buy your product.
Many businesses worry that selling at higher prices might lead to losing customers. Hence, they put on their time, energy, and effort to sketch out strategies that appeal to low-price shoppers.
But it doesn’t have to be this way.
In fact, Selling at higher prices raises your profit margin and decreases your dependency on achieving a particular sales volume, provided you implement the right strategy.
So, in this blog, you will share the 5 best strategies that you can adopt for selling more at higher prices while pleasing your customers at the same time.
1. Target customers based on income levels
People who have money do not hesitate to buy higher-priced products. So, it would be a legit idea to sell your expensive items to those income group people who have more money to spend.
You can use online marketing tools that offer analytics to target customers based on income levels, their spending behavior history, location, data, and the site they have visited.
After collecting the relevant data, you can advertise your products to these targeted customers.
You can get all these customer insights and necessary marketing tools on one platform called Salesforce.
If you haven’t integrated your Shopify store with Salesforce CRM, you might want to do it now, as the Shopify-Salesforce integration would prove extremely beneficial here.
2. Offer choices
A study showed that when the customer is given choices with different pricing, 80% of the customers choose the higher-priced option.
Most people want better products with higher quality and do not mind paying more for them.
Also, if you provide variation and keep three options with prices in ascending order, most people will choose the middle-priced option.
Hence by giving choices with smartly planned pricing, you can earn more profit without making your customers unhappy.
3. Offer utilities in a Bundle
It is yet another terrific strategy for selling at higher prices. If you are selling products that require other ancillary products for proper functioning, you may offer all these add-on products in a bundle.
Customers always find bundles convenient as this saves the effort of looking individually for those pieces of equipment or add-ons.
So, the bundle you offer adds value to the product and justifies the higher price. And customers happily buy them.
4. Give away free gifts and bonuses
Free gifts are temptations that buyers can’t resist. This strategy really works well as free gifts or bonuses offered sometimes can alone sell the rest of the product.
Your free gifts do not necessarily have to be expensive but should be smartly designed that catches the attention of your customers.
Likewise, with bonuses also, you can get creative, offering bonuses as a bundle without hiking the price.
5. Sell problems, not solutions
This one is more of a psychological strategy. You do not sell the products, rather, you focus on the problems that your customers need to solve.
While others also offer solutions to the same problems, you do it differently by covering the pressing concerns that connect with your customers.
Simply put, when you connect with your customers on a deeper level and convince them that you solve their problems with a different approach, prices don’t matter.
It is also important that you do not compromise on prices because that’s what shows how your product is better than others.
Wrap Up
We hope you find the strategies shared helpful.
Also, if you are searching for the right connector app to connect your Shopify store to Salesforce CRM, try the Sync Made Easy app and get flawless integration in real-time. Check the app out in Salesforce AppExchange today!
