Featured Pricing Article
Limited Time and Introductory Offers
Many Internet marketers use this sales tactic when they have a new product or service to offer. Maybe they are new to the world of Internet marketing or maybe they are using this tactic to build a sense of urgency. The key is to keep your word so that you will build a reputation for this type of marketing. Then next time you come out with a product that you're selling for a "rock bottom price" for a limited time, customers will flock to buy it because they know the price will soon rise.
Case in point: six months ago, I signed up for an online course at the "rock bottom price" of $7.99 per month. The course is now selling for $19.95 a month and the price will rise again soon. You can bet that the next time this marketer offers a product at a low, introductory price that I will jump through hoops to get it because I know the price won't be low for long.
This is a good pricing tactic to use when you don't have a proven track record, although many seasoned Internet marketers use it as well. Offering a product or service at an introductory price lets your customers find out if what you are offering meets their needs without them having to pay full price. Sometimes, introductory offers are as low as $1 for the first month while succeeding months of product or service will cost the customer $20 or more. Since $1 is far easier to part with than $20 or more, this is an excellent sales tactic to use to gain new customers.
Limited Time Offers
Many new and experienced Internet marketers alike use this sales tactic to move product or gain new customers for their service oriented businesses. You may have seen sales letters where the offer is good for 24 hours only or three days only or whatever time frame the marketer has decided upon. Create a sense of urgency with your customers and you'll realize the profit potential of this marketing tactic.
It's important that you develop a reputation for pulling the offer when the time frame you specified is up. That doesn't mean you can no longer promote the product or service. You can, just not at the special price you indicated on the limited time offer. Now is the time for you go to back to selling it at the regular price or you can come up with an entirely different offer.
It may take a while but once you develop an online presence and solid reputation then when you advertise a limited time offer, your customers will realize the sense of urgency involved and will be more inclined to take advantage of what you are offering.