| Making the Sale: It's About Perception |
| Invention Development Advice - Marketing | |||
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Have you ever noticed that on eBay there are sellers that seem to be able to sell anything, even though there are multiple others offering the exact same item for less? If you've ever stopped to wonder why, you may have thought it has to do with the seller's reputation.
Have you ever noticed that on eBay there are sellers that seem to be able to sell anything, even though there are multiple others offering the exact same item for less? If you've ever stopped to wonder why, you may have thought it has to do with the seller's reputation. But there is one important marketing tactic that is underused both on eBay as well as with many online retailers. That tactic is playing to a buyer's emotions. There are about a dozen really strong emotional triggers that many marketers utilize to influence a person's purchase-decision making process. One of these is the belief that there is a bargain to be had. We can get a better idea of how giving somebody even a chance at a great bargain can improve your odds of making a sale with the following real-life example. An order of ski jackets arrived at a retail store. But as they opened the box the order arrived in, it turned out that one of the jackets received a cut in it from a box cutter. All other jackets were left unharmed. Rather than returning the damaged jacket, the store manager decided to put it up on eBay, along with an undamaged jacket to run side-by-side with the damaged one to compare the performance of the two auctions. Both jackets were listed at roughly the same time, the same day, the same length of time, and under the same account. The only difference between the two listings was that the damaged jacket was listed with an opening bid of $0.99 while the undamaged one was listed for $75. At the end of the five days, the auction for the new, undamaged jacket received few page views and just a single last minute bid. The damaged jacket, on the other hand, received well over a dozen bids and sold for just short of $75, almost reaching the full retail price. Now why did the damaged jacket received so much more interest and sell for nearly the same price as an identical item that was in perfect shape? It has to do with the low starting price and planting the thought that there was a great deal to be had. Even after several bids had been placed, the price was slow in rising and therefore continuing to attract deal seekers. By the time the price was out of the "good deal" range, those who already placed a bid had already invested time in hoping to get the jacket at a great deal, and continued hoping to win the item even after the "good deal" was no longer available. As you can see, there is some serious power in getting a buyer emotionally invested in your product or service. People buy as much for "want" as they do for "need. More information: Stuart Lisonbee is a search marketing expert at Doba. Doba'a goal to simplify the dropshipping product sourcing chain have resulted in universal access to hundreds of wholesale suppliers and a myriad of tools to help small online retailers succeed.
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