DM me for Price: The Mistake every Seller is making on Social media & how to avoid it to make Sales
Hey, my favorite marketer! How are sales booming today? Here is something that will skyrocket your sales revenue up by 500% without Rocket Science.
85% of people now prefer to buy stuff they see promoted online. 80% of Nigerians have purchased something online this month. Figures don’t lie. People are making sales. Customers want to buy. But you are not making sales as you ought to. Why? You are the cause!
When you try to promote products online, there is a challenge. People see your products, and they like it, but they have refused to buy from you. Do you want to know why? DM me to know why. That is annoying to you, too, right? Not to worry, I will not do that to you.
This post will explain why you don’t really want to tell your potential customers the price of your products right away in your ad. I will also explain why that is costing you so many sales. You are not alone. Many sellers are having this problem too. You are so fortunate to read this article to learn how to avoid this mistake and sell like crazy!
So, why is it hard to add prices to your products when you advertise?
You have learned well. Avoiding anchoring is excellent for business. Anchoring happens when one party names a price in a negotiation.
Let’s say you sell bags, and I just happen to be in the market for a bag. I saw your advert on WhatsApp, and you say, “I’d like to sell it for about N5,000.” You have anchored. That is because N5000 is now the most you’ll get for the bag. I would never counter with a higher price unless I have a deep desire to waste my money. And even if I had more than N5000 to give out for a bag? You’ll never know because you anchored at N5000.
And that, my friend, is the reason why you and many others online are losing sales when you advertise online. While there is no hard and fast rule to marketing, some things cannot be overemphasized.
Why is Anchoring Sometimes Good?
Sometimes, your customers need to know the price of your products. For example, you are a bag seller. I happen to be in the market for a bag. I came across your ad on WhatsApp. And by chance, I want to buy the bag, but I have only N5,000. But the bag looks too good for that price. I will not come into your DM. And then when I do come, I will want to ask for a lower price.
“It’s a terrible mistake because they will only get people who will buy their stuff for a cheaper price tag.”
– Adedeji Yusuf, founder of www.shoplessAcademy.com
If your product’s price is not clearly visible, you give the idea of hidden costs and unfriendliness towards your clients. However, if you show them you are open and avoid false hopes, all your visitors will be there because they want to know more about the product or buy it.
That way, the only people that will come into your DM are people who are ready and willing to buy.
Including the price information in your adverts is probably one of the best practices you could do to boost sales in your business, but it’s easy to overlook.
As I have said, marketing is not universal. For some products, including different prices for each of your ads can be daunting, especially if you’re working with a retail store or if your account is enormous, but the end result is so worth it.
When you include the product’s price in the ad copy, the (potential) customers are pre-qualified before they even come into your DM. If N5,000 is too high for them, most will just move on with their lives. However, if your price works for them, why not check out what the company had to offer?
But many marketers will argue that you may convince the customers who don’t have enough! Is that what you really want? If Givenchy had convinced customers to buy their products by dishing out discounts because they don’t want to “lose” customers, they would never be that big.
So, always be proud of your pricing, and don’t be afraid to NAME YOUR PRICE!
Hey. If you try this and it works for you, come into my DM and tell me stories. I would love to read it in the comment section.