There’s no middle ground in email marketing. You either have the cheapest price or else your product is regarded as premium. Anything that falls between these two extremes will struggle.
What’s to stop you going for the top prices? For email marketing, the benefits are obvious: lower stock levels, reduced demands for staff, and a higher RoI. You’d think everyone would be doing it, and many are.
iPhones, Microsoft Office, BMWs, and haute couture labels are all priced higher than what are, ostensibly, similar products that you’d find easily enough if you wanted to. I won’t be seen in a hotel of less than 3-stars.
It’s no good just slapping a ‘50% price increase’ heading on your next email marketing campaign. What subscribers are looking for is a reason to pay more. However, it’s by no means as difficult as you might think.
You need to:
1/ Show how much better your product is than that of your competitors
Don’t worry about the bargain basement offers. You’re not competing against them. Challenge the products that are decent value for money but have weaknesses. Naturally, you should point out where your product performs so much better.
2/ Tell them how you’ve eliminated acknowledged problems
Developing a premium product costs money. Itemise how you’ve spent it. Don’t go pound for pound, but mention those specifics that generate criticisms on forums and in reviews.
3/ Be open about the price
Mention quality product, premium service/components/back-up and whatever else will attract your subscribers. It’s a way of preparing them. Use terms such as ‘value for money’ and ‘in the long term’. There is no need to mention the full cost right from the opening of the email. Make them read through the reasons why they should pay more.
4/ Reviews
Show the reviews of others who’ve moved on from cheaper products and why. If you are selling reliability, then have them mention the breakdowns they’d experienced. If it’s luxury that makes your product so much better, show it in its environment. An infinity pool works wonders for me.
5/ Be technical
Include proof of all you claim. You know which of those on your email marketing list will want details in brief and provide a click-through for those who will appreciate it being spelled out with more data than is healthy.
6/ Offer trials
These could be a month’s free use, a stripped version of software, or maybe an offer to demonstrate the product.
7/ Show the quality they are buying
Images in the marketing email should convince them that the extra is worth it. Happy people using a shiny product might be hackneyed, but it works. They might want to make others envious.
8/ The clincher
Ensure your product is worth the extra you are charging, within limits of course. We’ve all got to make a profit. If you mention trouble free on the marketing email, the product must be trouble free. If you are massaging your customers’ conceit, then show why others would buy your item, if only they could. Revel in the higher price.
