Customers will always look at the price of a product before they can make up their mind as no one wants to pay more when they could get the same product cheaply elsewhere. So, how do you convince a customer to buy more expensive products?
The art is selling is not too complicated. It is more psychological than it is anything else. If you can win the mind of a buyer over, then you are halfway there. These pointers are tried and tested by some of the biggest brands.
1. Introduce the Product First
First, introduce your product and let the prospective customer know what they are likely to get when they buy it.
The idea here is to steer away from the price as much as possible and just focus on what they stand to gain from the purchase.
When introducing the product, contrast it with an even more expensive piece. Say, a $50 set of jewelry set next to a $200 worth similar set.
They will feel as though they are getting the better deal as the set that cost four times more is almost the same in every respect. You are more likely than not to make that sale.
2. Manageable Payment Plans
Not everyone will afford to pay for an item at once, but broken down, they could manage to make a whole collection.
The best thing about payment plans is that the customer will not receive the item until they have fully paid for it, and so you really have nothing to lose.
Setting up a payment plan where, say, the customer reserves an item with 50% of its original cost and then pays the rest in three equal installments could help you make more sales as the commitment is lower. You will only need to set up a platform where you clearly track payments to avoid any confusion in the future.
3. Quantify the Product to Something
A popular website host quantifies their hosting costs to a cup of coffee and it works wonder for the minds of buyers. While a certain price range could sound ridiculous to some buyers, it would start sounding quite reasonable if you were to quantify it with an item they would easily blow their money on that won’t add as much value. Being as jewelry lasts a long time, you could also show them value for their money by mentioning how much value the piece gives them per month. E.g. A piece worth $150 that could last as much as 1 year if worn daily is equal to $12.5 per month.
While still at value, mention how easy it is for the potential buyer to keep this piece looking good as new. Let them know that the piece is made of high-quality material that will not turn green when it comes into contact with the sweat on their skin – but only of that is true. No one wants to spend a fortune taking care of jewelry that cost them an arm and a leg.
4. Create a Luxurious Impression
You will have a hard time selling an expensive pair or earrings in a cheap environment.
Packaging is everything and so you will need to create an air of luxury around you. You will need a professional e-commerce website that makes your brand stand out to potential buyers even from looking at it.
If the photography is professional and everything about your packaging looks quite expensive, you will not have a hard time convincing potential buyers that they are in the right place.
You will also attract the right clientele.
Established luxury brands may not need to build a sophisticated site as they are already well-known, but upcoming ones have to build a reputation first.
5. Keep an Eye on the Competition
You want to look at what companies in your lane are offering because no one would be willing to pay more when they can pay less.
Your prices should not differ too much from theirs especially if the quality of your products is the same.
Whatever happens, you do not want to compete with those selling low-quality product at cheaper prices as that it not your competition.
The benchmark is your main competition – those in the same quality-range.
6. Remind them the Benefits
What does your customer gain from buying your fashion jewelry? You want to state clearly the value that your product adds so that the buyer is convinced that the price is worth it.
Be brief and friendly when communicating these benefits so that they don’t have to go through a whole page of write-up to get to the point.
7. Great Customer Care
How you make a potential buyer feels determines whether or not they will buy your product. Interacting with them regularly through various platforms creates a bond that will help you build your business. When they reach out, you want to make them feel appreciated by answering all their questions promptly so they don’t leave for other sites with faster response rates.
Social media marketing is changing the games as it is visual and more engaging. You could post photos with models wearing your pieces to give the buyer a feel of how to style the product. Also, posting positive feedback gives your brand a much-needed boost.
If you receive complains about your brand, which is almost inevitable, the last thing you want to do is be defensive. Being tactful and courteous in your response will make you look good to other site users and boost your interactions. Sales are not too far behind when you win hearts and minds over.
8. Go on and be Great!
If you are just getting started and not quite sure of the response you will get, get started anyway!
Customers respond to high quality fashion jewelry even when the price is quite high. With the above pointers in mind, go on and get started, knowing that even the biggest online retail store started small.