How to Sell a Product at Higher Price

How to Sell a Product at Higher Price

Introduction

How to Sell a Product at Higher Price. Have you ever wondered if it is possible to sell your products at a fairly higher price than is often expected? Ever felt your product was not being sold for its worth, because of a laid down price range? The answer is, it is, indeed possible.

In the selling market, there are competitors, whether or not they sell the same product.

As a person with an intention of selling a product, you need to know the strategies to stay at the top of the stairs. You must understand how to price your product competitively, and stay relevant at the same time.

A good price never repels customers, if it is well worth the product’s value. This will be explained in broader terms.

This article provides a detailed step-by-step guide on how to price higher, and maintain sales, nonetheless. Here are some strategies to help you sell a product at a higher price:

How to Sell a Product at Higher Price: Point Out Its Exceptional Features

The first strategy to sell a product for a higher price is to gain a mental pull on your customer, in a way that keeps them curious and invested in your product. This can be attained, by first, emphasizing the features and advantages that set your product apart from those in the same market.

You should be able to convince your customers of what you know about the product. Remember that what you know has to be effectively communicated, in order to gain their trust.

As a seller, you must make the process of purchasing easy for your customers. Make them understand the clear difference between your product and others, based on its many advantages, leaving no room for second guessing, or doubting your word, and perceiving you as a fraud with ridiculous price.

How to Sell a Product at Higher Price: Show Its Value

Apart from emphasizing the unique features of your product, you must understand the no matter how unique your product is, a customer won’t purchase a product that has no value to them.

You should be able to explain how your product will benefit the customer and solve their problems.

Be careful to properly emphasize the different problems that your product solves, and highlight the repercussions of not making a purchase. At this moment of apparent weakness and self absorption, the customer will have no choice but to choose their comfort and benefits over the price of the product.

Take Advantage Of Online Marketing Platforms

As most sellers may lack the confidence of setting a higher price for their product, it is highly recommended that they lean towards trusted e-commerce platforms, where setting a price is done once, without the constant need to convince customers individually.

• Orah: Orah is a trusted online marketplace, where selling is made easy, and hassle-free. Your product is put up for sale, and a price is set once. Orah does not charge upfront, until your product has been sold at the exact price set. Orah makes is easy to reach the right audience, who will not question the worth of your product before purchase, as all products are run through an authenticity test by trained professionals, before being sold. Signing up on Orah as a seller is easy, fast and free, using this link.
• Big Cartel: Big Cartel allows you create a unique online store to sell your product at a higher price. You can customize your store and showcase your product with high-quality images and compelling descriptions. You can create a seller account on Big Cartel to start selling your product at your desired price.
• Etsy: Etsy is a popular and authentic marketplace for handmade and unique items. You can sell your product at a higher price by emphasizing its value, exclusivity, and craftsmanship.

How to Sell a Product at Higher Price: Use Premium Packaging

As much as the value of a product is in the product itself, there is something about making the packaging attractive. Attractive packaging can make your product feel more luxurious and worth the extra cost it will incur.

If one was made to choose, they would go for the better and carefully packaged product. This, added to the actual value of the product will make any customer make a purchase without asking many questions.

Offer Exceptional Customer Service

Provide topnotch support to customers in order to build trust and justify a higher price.

Make your customers feel special, and remind them of this, through excellent delivery, prompt attention to concerns, and follow ups on orders, ensuring satisfaction.

Create A Sense Of Scarcity

An unutilized and barely know strategy to selling a product at a higher price, is to create a sense of limited availability of your product.

If customers are aware that you might run out of stock soon, they won’t be laid back, and lack the time to sit back and think of changing their minds because of the price. It will also give them an idea that your product is so good, that a lot of people are in a hurry to make a purchase.

In summary, limiting availability or offering limited editions make your product more exclusive.

Use Psychological Pricing

It’s a fact that a cheaper looking product is likely to get purchased than others. A customer will instinctively grab a product of a price ending with .99 or .95 which make them seem lower. 99.95 looks less expensive than 100.

This will give customers the idea that they have a fair deal, which in fact, they do, considering your product’s worth.

Offer Bundles or Upgrades

Another way to entice a customer into buying your product is by packaging it with complementary items or offer upgraded versions.

Showcase Expert Endorsements

In our social media oriented world, every home has at least one mobile device, which makes the idea of creator endorsements feasible.

You can partner with popular influencers to built credibility and trust for your product and brand. Endorsement by a reputable influencer justifies premium pricing, eliminating price concerns.

Highlight The Quality

For your product, you should use high-quality materials and emphasize the attention to detail. This engages customers, allowing mental comparisons with similar products, informing their purchasing decision. They get to see it for themselves that they have to buy it, despite the price.

Be Confident

You can’t give what you don’t have. And in this case, you need confidence in order to convince your customers. Believe in your product’s worth and show potential customers that it’s worth the investment.

With confidence, you won’t be found faltering when a customer questions the price. You will, instead, convince them that they are not being ripped off.

Conclusion

Remember, the key is to focus on the value your product provides and the benefits it offers to customers. Highlight unique features, quality, and value to justify premium pricing and attract willing customers.

Pricing a product higher than normal requires offering proportionally higher value to justify the premium.