A guide for the best pricing strategy for your brand
We all know that sometimes there are times when you have to give your customers particularly good incentives to win a deal.
This article will show you some examples of how you can market your products even better and what incentives you can use to get great deals from shops.
1. Social Proof through the Usage of Social Media
Through the usage of social media, you can show your potential buyer how many stores already offer your products and how much the customers love them by highlighting reviews that praise your products’ outstanding quality. If certain products are trending, you can stress the fact, that the item will be popular and that there will be an increase in sales. Not being able to participate in trends will make your potential client feel like they are missing out and this will probably push them to buy. So if you show how many, who and why others have bought the product, it will strongly influence the buying decision.
Here is a brief overview of the different types of social proof:
- Customer reviews
- Likes and shares on social media
- Testimonials/experience reports from customers
- Endorsements by influencers or opinion leaders
2. Show the Brand’s Favorite Products
You can not only present your customers’ favorite products but also highlight the brand’s own favorites. Maybe there is something very personal behind these products? Why are they so special to you as a brand? Feel free to tell more about the products and their history. Because if the brand itself loves this one product so much, why shouldn’t the customers do the same?
3. Offering Samples
When closing a deal, it is important to use incentives to catch the client’s attention and to be able to convince them to buy your offered product, especially if they seem a bit hesitant. One of these incentives is allowing your buyer the opportunity to try out your wares by offering them a sample, persuading them to take the final step of buying your items. Giving out free samples can further lead to strengthening the bond between your client and you, as you are willing to listen to their hesitation and provide assistance. Additionally, providing buyers with bulk discounts, or vouchers to get a certain percentage off products and campaigns such as “Buy One Get One Free” can help give clients certainty and assist with closing the deal.
Additional tip:
Imagine sending your sample with a nice personal card and a product catalogue lovingly packaged? Or maybe even with a little surprise? Maybe you even have an idea on how to design the sample and the package in which it is sent in such a way that a well-rounded concept is created? There are no limits to your creativity. Love at first sight? Why not! Convince your future customer with a nice gesture and he/she will remember you.
4. Show Best Practices & Love Stories from other Stores
Sometimes you don’t even have to convince with certain products, but can tell wonderful love stories of stores that already have your products in their assortment and are successful. This way you can show other shop owners how great your products look in the shop, how well they are received by the customers, and what an asset your products are for other shops. Often you can use photos that show your products nicely presented in the shops or quotes from shop owners who are very happy with your products.
5. Create a “FOMO” (“Fear of Missing Out”)
Make it clear to the buyer that the demand is high, and the stock is low, and that it is desirable to own the product. As clients generally do not want to miss out on any opportunities that could possibly lead to a loss of profit, the chances are high, that this further reassures them to buy your items.
By the way, we don’t want you to scare your customers, of course! The “Fear” of missing out is about making customers feel like they might miss out on something unique and that they won’t get that chance again anytime soon.
6. Build Trust and Loyalty through Personal Stories
Not every contact ends in a sale. Especially if your potential client is going through a period of uncertainty, investing in a personal bond and trust is more important than hard-selling and closing the deal. If you can put yourself in the position and show empathy, you probably won’t close the deal today. However, they will remember you in the long run when things start to look up.
So, if your potential client is still unsure about the product, try to create a personal base and an emotional connection and invest in engaging in a conversation. Maybe by introducing the story behind your brand and the people who are constantly working on it. Don’t be afraid to tell something personal about yourself or your brand as that could be an opportunity to start an authentic human connection.
This way, a positive emotional association is linked to the product and can convince the buyer to make the final step of closing the deal once he or she is ready.
Even if there are times when wholesaling seems more difficult, it’s still important to be visible and tell the shops about your great products. Maybe you got some ideas from this article and found inspiration on how to make your ads on FAIRLING interesting.
If this was an old hat for you you probably are searching for some resellers for your products. We would love to help you find those. Just book a free demo call and we will be very happy to talk with you about your possibilities or answer your questions!
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