GREED! A Powerful Marketing Technique

I wanted to share a sales technique I learned many years ago. I seldom use it, but whenever I do, it works!

I’ll give you a specific example of how I used it.

Back in 2011, I sent an email letting everyone know about the new inert pepper sprays. The email included the model numbers and wholesale prices.

When distributors went to the wholesale order site, they discovered that the prices were much lower than I sent in the email.

Now, this is where a basic human emotion comes into play…GREED.

I’m not telling you this to insult or make you feel bad about yourself. But, greed is a basic emotion that marketers need to understand and know how to use in marketing.

I originally planned to introduce the inert practice sprays by adding them to the sale, but now is an excellent time to show you the power of this technique.

So, I put the lower prices up instead of selling them but did not say they were on sale. When distributors saw the prices in my email and the lower prices on the order website, they bought a lot. They bought more than usual because they wanted to take advantage of the lower prices before I discovered the “mistake.”

I sent the email out to over 7,000 distributors. Only one sent me an email informing me that the prices on the wholesale order site were lower than in the email I sent. They wanted to know if the prices in the email were correct or if the prices were on the wholesale order site.

Now, here’s how you can use this. And it would be best if you used it because it works.

To introduce a new product, email your list with a brief description and price. But on your website, put a lower price. For instance, tell them in the email that the price for the product is $10.00, but on your website, set the price at $7.00. People will think you made a mistake with the price on your website and will buy and buy a lot.

You can also do this with existing products. For example, you could announce a sale price for a product as $10.00, and when your customers go to the web page, they see the price of $7.00. I guarantee this will increase sales.