Providing value for customers is important; it means that what they're paying for is worth the price of admission. In the sales process, value propositions are indispensable components of the sales process.
If I tell someone that I have a black ink pen for sale, they probably wouldn't pay that much attention. But, if I jazz up my pitch by saying, "I have a limited edition pen that just arrived from my vendor. It writes beautifully, almost like an extension of your fingers. The ink it uses is vibrant and bold, leaving a statement for anyone that reads your writing. Plus, the sophisticated cap allows you to rock your pen 24/7 in your pocket, without worrying about leaks. It writes smooth, looks great, and feels evenly balanced in your hand."
With a little bit of polish, I've provided the consumer a picture of the pen in their mind that speaks to everything except price. I could throw down sales pitches all day long, but in the digital age, it's all about website conversions. How do you get consumers to buy into your brand and hit the "buy now" button online?
1. Draw a Compelling Comparison
If you want to close a sale quickly online, you have to help the site visitor feel like they've performed their research. Eighty-one percent of shoppers perform online research before adding an item to their cart (online or in-store). Your website should be designed to educate the consumer, while placing your product in the best light possible.
To do this, you'll want to draw a favorable comparison between your products, and the competition's solutions. The e-cigarette industry has done an incredibly effective job by creating a value-proposition that relies on a comparison with the item they're looking to replace; the traditional tobacco cigarette.
For further insight, I spoke with Vlad Vassiliev, the MD of Vapourlites. When asked about the approach they use to market their products in a responsible, effective way, he responded,
In the vaping industry, we've been painted into a corner. There's ongoing debate about the medical testing done on our products. But, what no one will argue is that vaping is significantly safer and less harmful when compared to traditional tobacco cigarettes. Our goal is to help people quit smoking, or help them alter their existing addiction in a way that's healthier and more cost-effective. Our marketing efforts rely on a comparison to tobacco cigarettes because we want to position ourselves to solve an existing problem; not create new nicotine addicts.
The power of comparing a product to a less desirable alternative is a powerful selling tool. It gives the consumer the feeling that they're well-informed, while instilling a positive feeling about your brand.
2. Find the Fringe Benefits that Tip the Scales
If you're shopping for an item, what will put you over the edge and convince you to buy an item right away? Generally, there are X factors that improve the odds of closing a sale:
a: Create a sense of urgency.
b: Present the pricing in a way that represents a hypothetical savings to the consumer.
c: Create the perception that your product is a much higher quality product than the competition.
d: Remove barriers to the consumer's access to your product; faster, free shipping is great example.
All of these sales tools are great for winning over customers, but the cherry on top is when you add an element the customer wasn't expecting. For example, while shopping for a new iPhone case on Amazon, the case I ended up impulse buying came with a free screen protector and stylus. I was shopping for a case, and I found the style I liked, but the inclusion of additional accessories without an increase in price sealed the deal for me.
An unexpected, additional value-add that the consumer didn't realize they wanted or needed is a great inducement for online conversions.
The most important thing for consumers visiting a website is that they need to feel they've gathered all of the information they need in order to make a buying decision. Create a website that acts as a broader resource for your customers; packed with industry knowledge and insights. The combination of broad information, presented alongside the specific value propositions of your product or service is a powerful combination.
And don't forget the "But wait, there's more!" factor. You want consumers to feel like they're getting an amazing deal, and that they're ready to pull the trigger based on a well-informed decision that supports their gut instinct to buy now.