Additional Lessons from Popcorn MarketingI'm assuming that the movie theatres have tested their price
point and figured out what the highest price is that they can
charge and get away with - the highest price the market will be
willing to pay.
And, that's what they charge for their popcorn.
I believe that's a mistake. Here's a better way of doing it:
Test your price point. Find out what the highest price is that
the customer is willing to pay for your product. Then, bring the
price down considerably! Offer a 'better' deal than your
competitors. Or offer them a lot more value than others, by
adding additional bonuses to increase the overall perceived
value.
Sure, you can take advantage of your customers by charging as
much as you possibly can. But, I wouldn't recommend that
strategy. Instead, tell them what others are charging and what a
great value you're giving them. Break it down for them and
explain the difference. Show them how they're unique and why
buying from you is in their best interest.
Remember, you can either corner them into buying from you, or
you can just make your offer so much better, and so much more
irresistible, that they will want to buy from you!
Moreover, I want the customer to feel good 'after' the purchase
as well. I'm not a fan of buyer's remorse, and I assume my
customers aren't either.
You ensure that they will continue to feel good about their
buying decision after the purchase by delivering on your
promise. In fact, you can go a step beyond and 'over-deliver.'
When you do that, you will also:
1) Dramatically decrease your refund rate, and
2) Ensure that the customer will buy from you again, in the
future, because his first purchase from you was a positive and
rewarding experience.
And, besides, the only reason I'm "in business" is because of
the 'customer.' Why would I want to cheat him or trick him?
We're in this business because we want to help people and create
real value in their lives. Not because we want to suck every
penny out of them, right?
Most marketers are bad marketers because they think that
marketing is about 'tricking' people into giving them money.
That's absolutely not true.
If you do it right, they will want to give you the money, and
feel good about it. And, you'll be able to sleep well at night.
Marketing is not a one-shot deal. If you try to trick the
customer into giving you as much money as possible just so you
can get one sale out of him, you're seriously missing out.
Instead, if you make the first buying experience a pleasant one,
the customer will continue to buy from you again and again, and
will happily give you more money. So, don't forget about your
existing customers after they've made that first sale. That's
just the beginning of your mutually-beneficial relationship with
him.
Well, there you have it… "popcorn marketing" explained, and then
some! :-)
There are many extremely powerful marketing strategies and
psychological motivators at work in the above 'movie popcorn'
scenario.
Remember, just 'knowing' about these strategies and concepts
won't do much to increase your profits. Start applying as many
of them to your own business as possible, and I guarantee you'll
sell more, and sell more often.
In fact, you'll get much better results than the movie theatres
ever will, by always keeping the customer's best interest in
mind.
Here's to your dramatic increase in profits!
Sincerely,
Ian Canaway
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here:
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