Champagne
for the Price of Beer
Dear
Associate,
"British
inspired clothing for generations has been the gold standard
for men's fashion. T. Harris brings that inspiration to the
finest store in America."
That
was the motto printed inside a folded tag, looped by a yellow
string, attached to a small circular tinny placement displaying
the British flag, tied to the article of clothing, and neatly
displayed on the retailer's floor.
This
tag increased the perception the clothing was somewhat special.
It stood out. It was classy. It was unique. And if you wore
this item, it seemed to suggest people will treat you with
more dignity, respect and hold you in high regard.
The
bottom line: Did the motto persuade me to buy T. Harris clothing?
No,
not at all. The motto gets points for being a pleasant read.
Tasteful. And warm. But I made my purchasing decision from
other factors.
1)
The burgundy polo shirt felt baby-soft and super-smooth. You
could run your hands on top of it for hours. It had a luxury
feel you rarely get from the average polo shirt.
2)
The champagne slacks made the perfect combination. It's silky-smooth
fibers, double-pleats, and cuffs gave it an air of distinction.
James Bond: eat your heart out.
3)
The shirt and slacks were about half off retail. They didn't
require dry cleaning. Then there was another store discount
on top of that. It was hard to say no.
4)
The sales rep on the floor was extremely helpful. She loved
the combination I chose and offered a helpful hint for laundering
them. She wasn't trying to sell me as much as inform me. In
fact I have never noticed any rep trying to be overly helpful.
At
this point I was ready to flip out my credit card. The extreme
value, luxury looks and personal high approval of the store
sold me. I became a happy customer. This was a classic case
of being served champagne for the price of beer.
On
the other hand, what if it were impossible to lower your price?
That original Ming Vase in your entry way is a little too
upscale to sell on Craigslist. How can you persuade your prospects
they're getting champagne for the price of beer?
When
you market to your prospects, your database, or your customers
one of the most effective ways to sell more product
or programs without lowering your price is to raise its perceived
value. Several ways to handle this is to give your product
a fancier name, include illustrations of customer benefits,
and/or a story of how this will solve their problems. Consumers
want and need pertinent information in order to make a better-informed
buying decision. If you give more, you'll receive more sales
in return.
Warm
regards,
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