NFIB

Quick Ways to Make Your Offers More Attractive to Customers
12/ 23/ 2002

Sometimes it doesn't take an MBA to discover new and innovative ways to make your products or services more attractive to customers. In today's article, Jeffrey Moses lists easy ways to help finalize the sale.

1. Does it all come down to price? Sometimes. When customers are slow to purchase (or lose interest when you mention the price), tell them that you can lower the price -- if they make the purchase immediately.

2. On the same subject, offer pricing structures that enable steady customers to achieve discounts at specific levels of purchase within a given period.

3. When customers purchase from you, don't let them out of the store without selling them one or two other related items. Always offer customers additional services or products, at discounts. You can tell them: "This may interest you, and because you bought your first item, I'll give it to you at a 15 percent discount." This strategy is hard for customers to refuse.

4. Let customers take products home to see how they look (or work). They might bring some items back, but your percentage of sales closes will be higher than if you insist on payment without trial. When items go out of the store, hold a check or take a credit card number, assuring customers that they won't be billed if they decide to return the items.

5. Turn damaged goods into value. A gift shop in Seaside, Florida, discovered that a shawl a customer tried on had a few loose threads. The owner of the shop made light of it, pointing out that the shawl was the perfect color, and was handmade in Nepal. "But because it's not perfect," she added, "I'll take ten percent off. You won't even notice the loose threads in a day or so." The customer bought, then called back later to say that the threads had been clipped off easily.

6. Buy a large number of an item at a reduced cost, and pass this savings on to customers. Use the product as a "loss leader" to attract customers who will be interested in purchasing other products when they're in the store. To maximize loss leaders, have related items ready at significant discounts. Be sure that your displays and signs inform customers of the discounts. (By the way, the more well known the brands you discount, the better your sales on those items will be.)

7. Offer an enormous amount of service at low prices by providing "ready made" products. A graphic designer in Pennsylvania, for instance, offered exceptionally high-quality, ready-made brochures at very low cost. Customers could have their company names, contact information, logos, and even photos inserted at no extra charge. The designer even contracted with a printer to produce and deliver the brochures at low prices based on volume.

8. Reduce your price if the customer doesn't demand immediate service. This will let you fit the project in and around your other projects -- perhaps even allowing you to work during times you wouldn't have been busy, anyway.

9. Offer credit to your best customers. You can do this without establishing a credit-check procedure, if you use your best customers and give them 3-6 months same as cash. This has its risks, but can increase your cash flow by showing that you value their business.

10. Provide an unmatched guarantee. If your competition offers a 30-day guarantee, try to offer a 60-day guarantee. When possible, offer a complete money-back guarantee, no questions asked. These days, you often need to take this approach when competing with the Wal-Marts of the world.

11. If you manufacture a product, use better material and charge the same or only a slightly higher price than normal. Even though you might lose a percentage of your profit, your increase in sales could make up for it. When you take this approach, point out the quality materials to all potential customers.

12. Always, always, always, check out your competitors' prices -- and make sure yours are where they need to be to make sales.

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